Survey finds salary expectations are on the up for 2015

07 January 2015

A national survey carried out by one of Ireland’s leading recruitment agencies found that salary expectations among employees are getting higher, with 61% of respondents saying they expect an increase in salary in 2015, up from 42% in 2014.  Matrix Recruitment Group, founded in Ireland in 1998, with offices in Dublin, Galway, Waterford, Carlow and Athlone, surveyed 600 employees across a wide range of position types and industries. 

 

Of the 600 respondents, 64% are from the Dublin/ Greater Dublin area, 20% are Munster based, with 10% from Connacht; 33% are in management positions and 28% are in senior/ specialist roles; with respondents from a wide range of salary brackets - 75% of respondents are earning up to €55k and 11% are earning over €100k.

 

74% stated that they are planning on changing jobs to achieve an increase in salary in 2015, however 62% stated they would remain in their current employment if their employer counter offered with a higher salary.

 

Kieran McKeown, founder and CEO of Matrix Recruitment Group stated “Due to the improved economic forecast we are seeing more movement in the jobs market across all regions and in particular in the 25-44 year age bracket. Our survey confirms this. Out of the 600 respondents, 73% were aged between 25-44 years and are at the stage where they are looking to progress and in turn, increase their salaries.”

 

“The findings demonstrate that this year across the board employers will need to be prepared for more restlessness in the workforce, and that there are definite indications that salary increases are back on the agenda for the first time since 2008. We are working with clients and candidates in a wide range of sectors, and are achieving a fine balance in matching candidate expectations with prospective employers’ budgets and packages. The main challenge remains matching the right candidates to the right organisation. No organisation wants to hire someone who only matches the salary level on offer, and in particular with the Generation Y and Millennium employees looking for more of a work/ life integration, we believe benefits will play an even bigger role going into the future.”

 

The survey found that nearly 40% of employers are making pension contributions, and over 30% of employees receive more than the statutory annual leave with a similar percentage receiving health insurance provided by their employers.

 

He added “Across all sectors we are seeing first hand that benefits packages have dramatically improved in the past year in particular with management positions and senior/ specialist roles. Employers are offering an increased range of benefits such as flexitime, job sharing and work from home options, educational assistance and life assurance - benefits that were really diminished during the downturn.  Employers know that to attract, and to retain good people they will need to offer more rounded work/ life packages.”

 

For further information on Matrix Recruitment Group visit www.matrixrecruitment.ie.