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Wage rises for some on the cards - CPL survey

Legal, marketing, HR, engineering, languages and office support are the areas most likely to see wage increases this year
Legal, marketing, HR, engineering, languages and office support are the areas most likely to see wage increases this year

Wage hikes could be a prospect for many this year, according to the latest salary guide from CPL Recruitment.

Legal, marketing, HR, engineering, languages and office support are the areas most likely to see increases.

Many of these increases, however, are making up for the downturn when they might have seen aggressive cuts.

The CPL research shows that some sectors - including banking, construction and science and technology - are seeing increasing demand for staff which is driving wages higher, some recording double digit increases.

CPL says that while sales jobs are on the increase and good candidates are being fought over, salary increases are mostly only in the senior roles. "This would indicate that companies are seeking to grow revenue rather than to cut costs," the company said.

The new research also reveals that finance CEOs in larger companies top the CEO pay scale at €500,000, with Pharmaceutical CEOs not far behind with a top salary level of €420,000.

It also notes that salary levels in accountancy and finance remain similar to 2013, but trainee accountant roles for each of the "Big 4" accountancy firms are increasing.

"We are beginning to see the jobs market move and wages increase slightly in most sectors. With virtually no salary increases in the last five years, there is a trend of firms re-introducing performance related bonuses to retain good staff," commented Anne Heraty, CEO of CPL Resources.

She said while this is good news for employees, companies must keep focused on Ireland’s role within a global jobs market. 

"To remain competitive, we must continue to train and produce the best people at the best price. Controlling salary inflation must be part of this strategy," Ms Heraty added.