Lower wage rates for new jobs - survey

Benchmark salaries for new employees in Irish companies have fallen between 5 and 22 per cent in the economic downturn, a new salary survey has found.

The research from recruitment website IrishJobs.ie showed salaries have fallen in most professions, with banking and construction showing some of the most significant falls.

In banking, average salaries have fallen between 10 per cent and 25 per cent, while the average construction salary is down between 15 and 22 per cent.

Project managers, civil engineer and foreman roles are among the hardest hit; those working in quantity surveyors and building services roles have been relatively unaffected.

In IT, salaries for permanent roles are showing a reduction of up to 15 per cent, while contractor rates are also down by up to 27 per cent, while the hotel and catering sector can expect to earn 15 per cent less at most levels, with senior jobs taking a 30 per cent reduction in salary

The legal profession was the only one that showed an increase, according to the survey. While salaries for newly qualified solicitors are down about 10 per cent, there has been a rise in salaries for some experienced legal staff.

Valerie Sorohan, a spokeswoman for IrishJobs.ie, said the survey reflected what was happening in the workplace throughout one of the most challenging markets in recent memory.

“For the past 12 months we have been hearing anecdotally of employee salary reductions in most industries. It will come as no surprise therefore, that the market rate for salaries for new employees has been adjusted downwards in most sectors,” she said.