Roles in technology, the financial sector and construction have had the biggest rises in salary in the past year, new data from recruitment specialists Hays Ireland has found.
Salaries for those working on machine learning took the biggest leap, a rise of 31 per cent during the year, earning an average of €85,000.Website reliability engineers came in second. Reinsurance underwriters also fared well this year, earning a 29 per cent increase.
In the construction sector, salaries have also risen, particularly among facilities assistants and qualified technicians’ roles, which had a rise of 24 per cent and 18 per cent respectively.
The data was published in the Hays Salary and Recruiting Trends Guide 2023, which tracks recruitment trends in Ireland using information based on job listings, job offers and candidate registrations.
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More than three-quarters of employers said they planned to increase salaries in 2023, partly due to the cost of living crisis.
However, businesses also said the increasing demand for talent and the need to retain staff were also driving the willingness to increase pay. The majority of employers — 92 per cent — said they had experienced skills shortages in the past year.
According to the survey, 84 per cent of employees increased salaries last year, compared to 56 per cent the previous year.
Ninety per cent of employers said they would hire new staff, with 75 per cent planning on filling full-time, permanent roles. But those hoping to attract more staff to their organisation will have to consider a number of factors, with 35 per cent of professionals saying work-life balance is the most important factor, and 47 per cent of those planning to change their career saying that they wanted to find a job that offered more of a mix of hybrid working.
A look ahead to 2023
The majority of employees still consider the company’s purpose to be the most important factor in choosing a new role, and 78 per cent look at commitment to sustainability.
“[The year] 2022 saw significant growth in Irish-based salaries. The rise in salaries in machine learning is reflective of the growth of technology in recent years, and we expect the application of AI and machine learning to accelerate further in years to come, which can only be good news for those with relevant skill sets,” said Maureen Lynch, operations director at Hays Ireland.
“Employers are optimistic about 2023 and are positive about investing in their business and hiring new staff. While retention of staff is an issue for businesses, employers are adjusting and increasing salaries in order to meet the needs of staff. While salaries are important, it is also important to take into consideration the growing need for hybrid working among employees. Aside from salaries, flexible working and additional supports from employers are all attractive benefits.”
