The Abrivia Salary Survey 2019 unveiled many interesting insights into Ireland’s Accountancy, Finance and Banking Sector. Below are some of the main highlights:
Employers in Accountancy, Finance & Banking Sector
• 80% cited pay satisfaction as the main reason for employee retention
• 60% said headcount increased in 2018
• Over 70% plan to hire in 2019
• Over 80% said salaries increased in 2018, mainly between 3-5%
• 60% plan to pay bonuses in 2019
• Just over 50% said they’d be willing to provide sponsorship for candidates requiring a visa with 45% saying that salary expectations were the same as or lower than candidates living in Ireland.
• Over 40% expected to lose employees next year because of rental rises
• The Bike to Work Scheme and Private Medical Insurance and Life Assurance were the most popular flexible benefits package offered to employees in this sector, followed by Health Screening, Gym Memberships, Yoga/Meditation classes and Dental Insurance.
• 50% said that visa regulations were making it difficult to attract overseas talent
Employees in Accountancy & Finance Sector
• Work-life balance was the main reason cited by employees (45%) for continuing to work with their current employer, followed by pay satisfaction (39%), interesting work (38%), good job fit with skills and abilities (34%) and low-stress work environment (30%)
• 45% would be prepared to take a small drop in salary (1-3%) to work outside Dublin while 25% said they wouldn’t consider moving to Dublin
• 40% plan to change job in 2019
• Over 70% are expecting a salary increase in 2019, with one-third anticipating a rise of between 5-10%.
• Just under half agree that they could easily switch to another role within a similar organisation if they wished to do so
• Glassdoor, Irishjobs and Indeed are the top places to check out reviews of a prospective employer
• 75% have a private pension and the majority believe that pension auto-enrolment is a good idea
SECTOR REVIEW AND EXPECTATIONS FOR 2019
“Those trained in the Big 4 continue to be in high demand and the challenge for these employers is matching the increasingly high salary expectations of quality candidates,” said Tadhg Kearney, Associate Director, Accountancy and Insurance Recruitment. Amongst small and medium sized firms there have been challenges in finding professionals at all levels for audit and assurance roles.
“In 2019, emigrants returning home after years abroad are likely to provide an interesting pool of candidates for employers looking to hire, but the current rent crisis in Dublin may limit the number of people willing to live in the capital”, said Tadhg Kearney.
2019 is looking like another very busy year in Banking and Financial Services recruitment, with increased head count for a lot of companies along with the applications of over 100 companies to set up entities in Ireland. Competition is very tough on the market for candidates and with the increased cost of living in Dublin or the outright lack of accommodation, it can be of concern to companies looking to hire in the capital or companies looking to establish an operation here.
“After the disappointment of 2017 and not getting the amount of post Brexit clients we had anticipated, 2018 has seen many companies with entities in Ireland commit to increasing their headcount and having Ireland play an important role in their post-Brexit plans”, commented Tadhg Kearney, Associate Director.