A national survey recently carried out by Matrix Recruitment Group polled over 200 financial services professionals in Ireland and has been released today.
The survey investigated earnings of those working within a diverse industry as well as looking at work-life balance, benefits and employee expectations.
In relation to employee’s salary and benefits, the survey showed that only 7% of those questioned were dissatisfied and 59% were somewhat satisfied. In 2015, 40% of those surveyed received a pay rise and 63% of those survey are expecting a pay rise in 2016.
In Ireland, the financial sector encompasses domestic financial activities as well as internationally-traded financial services - the Irish Financial Services Centre (IFSC), which is an important feature within Ireland's economy and employs over 38,000 people, with an expected 10,000 new jobs in the sector by 2020.
Salary samples within the survey concluded that a Fund Accountant Supervisor should expect to earn €35,000 - €45,000; whilst a middle office, senior administrator position in Dublin will start at €28,000 and go up to €35,000 but reach slightly less regionally at €32,000.
The survey also showed that the one of the highest earning positions in the financial services sector was that of a Managing Director in Fund Accounting, earning €140,000 - €190,000 in Dublin and between €120,000 - €150,000 in regional posts.
A role in Compliance is also a fruitful place at the top with a position as Head of Compliance in Dublin presenting an annual pay packet of €90,000-€150,000 and between €80,000 - €120,000 in a regional position.
Regarding benefits, surprisingly financial gain is not top of the list. Of the top five, performance bonus ranked as low as fifth for financial services employees. Other benefits included annual leave 22 plus days (1st), sick pay (2nd), pension contribution (3rd) and health insurance (4th).
On the topic of working hours, the results showed that over 53% of financial services professionals worked on average a 35 - 40 hour week. Over a third of those surveyed worked over 40 hours a week and 65% did not receive pay for overtime.
When changing jobs or looking for a new role, over 53% would consider a move if the right company and job came along. However, when questioned, 57% stated that if they received a new job offer, they would stay if they received a counter offer from an existing employer.
Financial Recruitment Services Manager at Matrix Recruitment, Gillian Wall commented, "A trend during 2016 within the financial recruitment market was a significant increase in the number of permanent roles advertised."
She added, "This trend and the number of employers lengthening contracts to hold on to the best talent as well as multinationals reinstating their internship programmes all reflects on our findings. Seventy per cent of those we surveyed are currently in permanent roles."
Source: www.businessworld.ie
