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94% of Irish professionals believe salaries will increase in 2020

Written by Robert McHugh, on 22nd Nov 2019. Posted in Ireland

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A Recruiters.ie 2020 Salary Predictions Guide shows that, even with the threat of Brexit, salaries across Ireland are set to improve, with a particularly sharp increase in high tech and software engineering roles.
 
Recruiters.ie surveyed more than 1,000 professionals across various industries in Ireland as part of its 2020 Salary Predictions Guide. Only 6% of respondents believe there will be no salary increases in their business in 2020.

At a department level, 89% of IT respondents expect salary increases within their department, while almost two-thirds (65%) of accounting and finance professionals expect an increase on their base salary.
 
The guide shows that software engineering professionals could enjoy salary increases as high as 12% in 2020, not only due to the ever-increasing demand, but also due to the growing trend of software engineers moving into the contracting space, leaving an even larger talent gap in the permanent market.

In fact, in America, there is a software development and programming jobs shortfall of 472,000 and in Ireland, the information and communications technology (ICT) sector is predicted to need more than 70,000 new workers in the next five years.

Meanwhile, despite Brexit potentially having a major impact on the financial sector, accounting and finance professionals could be looking at an average base salary increase of 6.5%. Recruiters.ie say Britain’s departure from the EU will lead to an extremely high demand, not just for workers in banking and financial institutions, but also for regulatory professionals as risk and compliance continue to be of paramount importance.
 
Commenting on the guide, Client Services Director at Recruiters.ie, Brian McFadden said, "There has been great uncertainty surrounding Brexit for more than three years now and the markets do not respond well to uncertainty. However, from our view of the market in Ireland, demand for talent remains strong and is driven by growth within Ireland’s export-led economy."

Source: www.businessworld.ie 

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