Salary Guide

Transcription

1 Salary Guide 2015

2 Sigmar Recruitment Sigmar Recruitment, established 2002, is a leading Irish recruitment services company with 15 specialist divisions across the entire recruitment process and managed service spectrum. We employ over 100 industry specialists in five offices in Dublin, Cork, Galway, and Poland. Sigmar has been recognised as Recruitment Agency of the Year (2014 & 2013) by the National Recruitment Federation due to our client delivery success, candidate experience and our innovative recruitment excellence methodologies. Sigmar was also named Best in Practice, Sales & Marketing Recruitment team in Our experience extends across Accountancy, Banking & Financial Services, Construction & Property, Engineering, HR, IT, Insurance, Legal, Marketing, Pharmaceutical, Office Administration, Multilingual, Sales and Supply Chain. View our current jobs on or contact our team on or

3 Salary Guide 2015 CEO s Commentary... 1 Accountancy & Finance... 2 Banking & Financial Services... 9 Human Resources Insurance IT Legal Marketing Multilingual Office Support & Administration Sales Supply Chain Technical All salaries taken as annual in Euros, based on working in Ireland. Bonus/Car Allowance not included. Figures are based on current market rates. Salaries are subject to variances based on the individual, the company size and other external factors. Parameters indicate the highest and lowest salary level for each position. iii

4 CEO s Commentary On behalf of Sigmar Recruitment, we are delighted to present our Salary Guide for Ireland s improved competitiveness has positioned it as one of the most attractive locations to do business and in turn we saw the IDA announce this year its highest level of job creation with over 15,000 positions created. Unemployment is now at its lowest since July 2009 and it is forecast that Ireland will have the fastest growing economy in European Union, with growth of 3.5 per cent predicted for Encouragingly, this growth momentum is not just from multinationals, our own indigenous companies are also forecasting growth and are planning accordingly. This returning confidence in the labour market has of course impacted the competition for talent and this in turn has been reflected in modest salary increases of 5-6% in general. Another positive in this returning confidence has been the measurable rise in permanent vacancies. However temporary and contract positions will continue to dominate the employment market as employers remain cautious about making long-term appointments. Adrian McGennis CEO 1

5 Accountancy & Finance Financial Services Judging from the market pick-up in the second half of 2014, 2015 is going to be a good year for accountants employed within the financial services sector. The banking and wider financial services sector has undoubtedly gone through some tough years, however with the dust now settled, hiring across all functions has fully commenced and not solely in the regulatory and compliance space which had been the main focus of recent years. Transition and in some cases expansion is now creating new opportunities. This is also boosted by a higher level of turnover with candidates deciding to change jobs more frequently. Salaries are therefore climbing off the back of these movements in the job market. Whilst the aforementioned focus on regulatory positions in banking was a growth area during the recessionary and fallout years, the majority of accounting departments within banks shrunk considerably. Re-growing the teams has typically been stifled unless a clear business requirement existed. This situation did nothing to increase the remunerations in the sector. From mid-2014 onwards, we have seen increased recruitment activity in the banking sector to replace staff that had been made redundant in previous years. Increased business activity has led to additional hiring as growth in some areas kicks back in. In addition to an increase in salaries within the banking sector, we are also seeing a greater number of permanent jobs being created. The insurance sector saw modest growth in Many insurance companies have their Solvency II teams in place at this stage, however these specialist skills will still continue be required in the market. Salaries will likely increase due to increased churn in the market as accountants grow more confident in the market. The funds sector has seen significant growth in 2014 with many established companies growing their Irish operations considerably. This is set to continue in 2015 with multiple contract and permanent job opportunities available for accountants with funds backgrounds. With more permanent jobs available now in 2015 than there has been over the past 5 years, sourcing financial reporting accountants for shorter term assignments will be considerably harder and will also incur higher costs for the hiring company due to market competition. For 2015, there is one candidate profile that stands out as the most desired by financial services companies, and that is a recently qualified ACA accountant from a Big 4 accounting firm who has gained financial services audit experience. This demand is set to continue. The average salary for a recently qualified Big 4 accountant in early 2015 is around 50,000. This can fluctuate depending on the sub sector of financial services or the role type as some come with greater reward. Typically, internal audit and specialist roles will pay more than regular financial or management accountant positions. Overall for 2015 experienced and highly skilled accountants within the financial services sector can expect greater choice when searching for a new job. As with other sectors, counter offers are reappearing in the market as current employers decide to offer financial incentives in order to retain their talent. All of this has provoked rising salaries which is set to continue throughout the year. 2

6 Finance Director 80-95k k 115k k 85-95k 95k + Financial Controller 65-75k 75-85k 85k k 70-75k 75k + Head of Financial Reporting 75-85k 85-95k 95k k 75-85k 85k + Financial Reporting Manager 50-70k 70-80k 80k k 60-65k 65k + Finance Manager 55-65k 65-85k 85k k 65-70k 70k + Internal Audit Manager 55-65k 65-75k 75k k 55-65k 65k + Treasury Manager 55-65k 65-75k 75k k 55-65k 65k + Compliance Manager 55-65k 65-75k 75k k 55-65k 65k + Qualified Financial Accountant 50-55k 55-65k 65k k 45-55k 55k + Qualified Management Accountant 50-55k 55-65k 65k k 45-55k 55k + Finance Analyst (Qualified) 50-55k 55-65k 65k k 45-55k 55k + Financial Reporting Accountant (Qualified) 50-55k 55-65k 65k k 45-55k 55k + Regulatory Reporting Accountant (Qualified) 50-55k 55-65k 65k k 45-55k 55k + Internal Auditor 50-55k 55-65k 65k k 45-55k 55k + Treasury Accountant 50-55k 55-65k 65k k 45-55k 55k + Compliance Accountant 50-55k 55-65k 65k k 45-55k 55k + SOX Accountant 50-55k 55-65k 65k k 45-55k 55k + SPV Accountant 45-50k 50-55k 55k k 45-50k 50k + Part Qualified Accountant (Reg Reporting, Fin Reporting, Global markets, Group finance ) 25-38k 38-40k 40k k 30-40k 40k + Solvency II Accountant 50-60k 60-70k 70k k 45-55k 55k + Revenue Recognition Accountant 55-65k 65-75k 75k k 50-60k 60k + Risk Analyst 45-55k 55-65k 65k k 45-50k 50k + Pensions Accountant 45-55k 55-65k 65k k 45-50k 50k + Business Analyst 45-55k 55-65k 65k k 45-50k 50k + MI Analyst 45-55k 55-65k 65k k 40-50k 50k + Financial Planning and Analysis 50-55k 55-65k 65k k 45-55k 55k + Statutory Accountant 45-50k 50-55k 55k k 45-55k 55k + Group Accountant 45-55k 55-65k 65k k 45-55k 55k + Transfer Pricing 55-65k 65-75k 75k k 45-55k 55k + Accounts Payable 28-32k 32-38k 38k k 28-32k 32k + Accounts Receivable 28-32k 32-38k 38k k 28-32k 32k + Credit Control 28-32k 32-38k 38k k 28-32k 32k + Accounts Assistant 28-32k 32-38k 38k k 28-32k 32k + 3

7 Industry & Commerce In 2015 we predict a strong upward curve in accountancy job opportunities within industry saw steady growth in the accountancy and finance market which was notable compared to previous years with salaries increasing slightly. The majority of roles were supplied to the market by large international companies, with IT software and pharmaceutical companies hiring significantly. Another welcome trend has seen Munster and Connaught record notable growth in the manufacturing, energy and pharmaceutical industries. The returning confidence to the industry will stimulate churn in the market with more candidates encouraged to move jobs where they had previously not considered moving, thus adding to the amount of opportunities in the market place. With Ireland being the European hub for many major international companies, the large shared service centres and multinationals will continue to recruit in The IDA continue to do excellent work in attracting new Foreign Direct Investment companies to Ireland and it is a safe prediction that job creation from these companies will continue in Whilst some multinational companies here may make strategic decisions to outsource some junior processing roles outside of Ireland to Eastern Europe or Asia, the net figure will be offset by the creation of new jobs. Specialist skills for the industry sector were in very high demand in 2014 and this will continue in Tax, compliance, internal audit, regulatory and risk are some of the niche sub sectors within the accountancy profession whereby demand far outnumbers the supply of suitable candidates. Corporate finance, lean process improvement specialists, project and systems accountants will also be in significant demand in industry sectors. Candidates that specialise in these areas will have extensive opportunities in 2015 and can expect to be earning between 5% - 10% more than they were getting paid in early Encouragingly we have seen modest growth in job vacancies in the SME sector in H2 of The majority of this growth is due to turnover in the sector as candidates move jobs, with very limited organic growth being recorded. There does however seem to be a more positive sentiment across the board with SME companies planning to grow in Salaries as things stand however are remaining somewhat stagnant. We expect flexible workforce trends to continue in 2015 as temporary staffing solutions and contract assignments remain prominent forms of employment in the market. Most multinational companies tend to hire accountants on a contract basis initially due to sign off restrictions from their US headquarters. We have noticed a change of attitude towards contract and temporary work amongst accountancy candidates as many are more are open to undertaking long term contract roles. They view them as an opportunity to gain valuable project experience and acknowledge that many employers cannot commit to permanent hires straightway. It also becomes common knowledge that in many cases with specific employers, temporary or contract roles can lead to permanent appointments. In addition to the slightly higher salaries that temporary or contract workers expect to receive as standard, the uplift in the job market has pushed salaries up for these types of workers. The main factor being that there is more temptation now for workers from the permanent side of the job market. This has influenced the rates of pay as companies look to secure their selected candidates for the duration of their contracts. Completion bonuses are also being used more frequently to incentivise the candidate to see out their contracts. Overall, our outlook for accountants at all levels in industry in 2015 is a positive one. Job opportunities are on the rise, new specialised and niche roles are coming up and employers are actively looking to invest in top level talent. One job type that we expect to see in high demand during 2015 is business and financial analysts. The second half of 2014 saw a significant increase in demand for these skills with salaries gradually climbing. Candidates with financial planning and analysis experience will have a significant amount of options to move to new jobs in Accountants with additional European language skills will continue to be sought after throughout With so many international companies basing their EMEA shared service centres in Ireland, there are a huge amount of jobs in Ireland that require accountants with linguistic skills. Salaries for positions that require a second language will often come with a financial premium, however as operations grow and turnover in the market increases, multilingual candidates can expect to earn a higher basic salary. 4

8 CFO k k 150k k k 120k + Head of Finance/Financial Director 75-90k k 110k k 85-95k 100k + Financial Controller 60-70k 70-80k 80k k 70-75k 75k + Finance Manager 55-65k 65-70k 70k k 60-65k 65k + Head of Audit & Compliance 80-90k k 100k k 75-80k 80-85k Internal Audit Manager 65-75k 75-85k 85k k 70-75k 75k + Internal Auditor 45-55k 55-65k 65k k 45-50k 50k + Tax Manager 60-70k 70-75k 75k k 65-70k 70k + Tax Accountant 45-55k 55-60k 60k k 45-50k 50k + VAT Manager 60-65k 65-75k 75k k 60-65k 65k + VAT Accountant 40-50k 50-60k 65k k 45-50k 50k + FP&A Manager 60-70k 70-80k 80k k 60-65k 65k + Financial Analyst 45-55k 55-65k 65k k 45-50k 55k + Process Improvement Manager (LEAN, SOX, SIX Sigma, etc.) Process Improvement Senior (LEAN, SOX, SIX Sigma, etc.) k k 120k k 85-95k 100k k 70-75k 75k k 60-65k 65k + Systems Accountant 45-55k 55-65k 65k k 45-50k 50k + Fixed Assets Accountant 40-45k 45-55k 55k k 40-45k 45k + Management Accountant 40-50k 50-55k 60k k 40-45k 45k + Cost Accountant 45-50k 50-60k 60k k 40-45k 45k + Statutory Accountant 45-50k 50-60k + 60k k 45-50k 50k + Regulatory Manager 65-70k 70-80k 80k k 60-65k 65k + Regulatory Accountant 45-50k 50-60k 60k k 45-50k 50k + Revenue Manager 65-70k 70-75k 75k k 60-65k 65k + Revenue Accountant 35-45k 45-55k 55k k 40-45k 45k + Treasury Manager 55-60k 60-70k 70k k 55-60k 65k + Treasury Accountant 45-50k 50-55k 55k k 45-50k 50k + Financial/GL/R2R Accountant 45-50k 50-60k 60k k 42-50k 50k + Finalist 35-42k 42-45k 45k k 40-45k 45k + Part Qualified/Assistant GL Accountant 28-32k 33-40k 40k k 30-35k 35k + Accounts Assistant/Technician 23-28k 28-33k 33k k 25-30k 30k + 5

9 Credit Manager/AR Manager 45-48k 48-60k 60k k 45-50k 50k + Credit Control/AR Team Leader 30-36k 36-40k 40k k 35-38k 38k + Credit Control 22-27k 28-35k 35k k 28-30k 30k + Accounts Payable Manager 40-45k 45-55k 55k k 45-48k 48k + Accounts Payable Team Leader 32-36k 36-40k 40k k 35-40k 40k + Accounts Payable/P2P 24-28k 28-32k 32k k 26-30k 30k + Accounts Receivable/OTC 24-28k 28-32k 32k k 26-30k 30k + Payroll Manager 35-40k 40-45k 45k k 35-40k 40k + Payroll Administrator 25-30k 30-35k 35k k 27-30k 30k + 6

10 Professional Services EXTERNAL AUDIT As the economy in Ireland continues to grow at a significant pace, we anticipate continued demand for qualified external auditors in The demand will primarily come from the larger professional services firms; however, 2015 will also witness the resurgence of small to medium sized practices seeking to increase their staff numbers significantly for the first time in the last five years. With multiple opportunities being created in industry, we anticipate that qualified auditors will be attracted outside of practice creating more audit vacancies among practices of all sizes. We also expect that there will be a shortage of accountants looking to stay in audit this year so it is crucial employers are proactive in order to attract and retain the best talent on the market. Due to the short supply of accountants looking to stay in audit, we predict that salaries will improve by 5-10% in 2015 as employers will need to offer competitive salaries in order to prevent employees leaving once qualified. We anticipate that 2015 will see higher base salaries and increased bonus structures that will be used as a tool to retain audit staff. REPUBLIC OF IRELAND Audit Director k k Audit Senior Manager 65-80k 60-75k Audit Manager 55-65k 45-60k Assistant Audit Manager 45-55k 40-50k Audit Senior (Part Qualified / Qualified) 30-45k 28-45k Audit Semi Senior (Part Qualified) 20-30K 18-28K TAXATION The demand for tax accountants grew significantly in Tax specialists at senior, manager and director level are being sought after in practice, financial services and industry. There has been a significant demand among top 20 practices looking to hire tax specialists with strong VAT, corporation tax, international tax and R&D tax experience. We predict that 2015 will see the taxation sector continue to prosper as more employers will seek to hire AITI qualified tax accountants. With an increased demand for both newly qualified and experienced tax professionals we expect to see salary increases of 5-10%. Similar to external auditors there is a short supply of top tax professionals in Ireland looking to remain in practice so this is the challenge we see employers face when trying to attract the best candidates will continue to see growth in the taxation sector in Ireland. With an increased amount of international organisations looking to expand operations in Ireland, we anticipate that there will be a huge demand for tax professionals in the next 12 months. REPUBLIC OF IRELAND Tax Director k k Tax Senior Manager 65-80k 60-75k Tax Manager 55-65k 45-60k Tax Assistant Manager 50-55k 45-50k Tax Senior (Part Qualified / Qualified) 32-45k 28-45k Tax Semi Senior (Part Qualified) 22-30k 19-29k 7

11 ADVISORY Job opportunities within advisory and consulting grew within 2014 as specialist firms were engaged to a greater degree by their clients for consulting services within process improvement, corporate finance, internal audit, risk and compliance. The continued demand placed on large companies to implement and adhere to a wide range of corporate governance measures will continue to add to job creation within professional services consulting in 2015, and ultimately the salaries being offered to candidates. We anticipate that 2015 will bring a slight increase in salaries for advisory consultants particularly at manager and senior manager levels due to the continued demand for their expertise. More and more organisations within industry and financial services are seeking the advice of top consultants from top 20 practices in order to find ways that will improve their current processes and procedures. This will result in a higher demand for advisory consultants among top 20 practices. REPUBLIC OF IRELAND Advisory Director k k Advisory Senior Manager 60-80k 55-75k Advisory Manager 55-60k 50-55k Advisory Senior (Qualified) 45-55k 45-50k 8

12 Banking & Financial Services As predicted, 2014 was a relatively positive year in terms of growth within the financial services industry in Ireland. In particular the latter half of 2014 saw a significant increase in new financial businesses deciding to establish operations in Ireland and other groups unveiling significant expansion plans. This led to an increase in both opportunities and demand for appropriately skilled candidates. The outset of 2015 brings with it an air of optimism as for the first time in many years opportunities at executive level of VP and Director are once again prevalent in the marketplace. Opportunities at these levels generally have a natural chain reaction of growth and this coupled with many organisations forecasting expansion gives us confidence that 2015 should be a positive year for opportunities. But along with this growth comes a number of challenges - most notably talent retention. With more opportunities forecasted in the marketplace, how will organisations in 2015 equip themselves to retain their talent? Indeed restructuring of benefits packages, widening bonus bands and salary increases are all on the table for the year ahead across the market. Domestic/retail banks in 2014 continued to make redundancies and their demand for talent was predominantly within debt restructuring and lending arrears albeit on fixed term contract basis but a number of key private equity groups have positioned themselves in the marketplace and have taken on loan books and have hired appropriately qualified banking staff who were readily available in the market. The hiring in this space is expected to slow in The overall outlook for retail/domestic banking in 2015 still remains somewhat uncertain with the expectation that more branch closures, restructuring and outsourcing plans will impact the need for headcount. Towards the end of last year we did see a slight upsurge in demand for credit analysts and it is expected that this demand will continue this year. Salaries in retail banking have been stagnant for quite a number of years but it is expected that this year some of the groups who have completed restructuring exercises will at last be able to address this and look at increases, benefits and bonuses once again. The fund administration/asset management/securities industry in Ireland has quite simply been the employment jewel in the crown for financial services over that last few years, now employing over 12,500 people with the expectation to grow even further in This industry has offered a huge array of opportunities across fund accounting, transfer agency, custody, middle office, regulatory and client servicing at all levels. The demand for talent in this area for 2015 is expected to be higher around niche areas of project management, client on-boarding, trustee, regulatory and specific product areas like private equity and ETF. Salaries in this industry have wider bandwidths. Even graduate level has a range as many graduates come equipped with 6-12 month s work experience gained in their third year of study. Talent management and staff retention has been a major focus of many organisations in this industry over the last 12 months and this trend is expected to continue in There has been a significant increase in roles requiring candidates to work shift hours either early morning or late evenings to accommodate various markets. Although shifts are generally rewarded with premium allowances, recruitment and retention of staff for specific shifts has proved to be somewhat difficult in 2014 and with the expectation that more inward business to Ireland requiring shift patterns is on the cards in 2015 it will remain a challenging issue to tackle. In the latter half of 2014 and early 2015 a few financial services organisations have taken strategic steps in opening up offices away from the city centre hubs. The implications of this will play out in 2015 and should be interesting to watch. 9

13 The demand for talent to undertake contract and temporary assignments has remained high through 2014 and should continue to do so over the course of Employers with specific short term needs or project focused assignments can tap into the supply of candidates who see contracting as a viable career option. Those with specific niche project/product skills (including regulatory) have been able to capitalise on their experience and have been able to benefit financially in a high demand area. For others taking temporary assignments has been a logical way to re-enter the market place after periods of travel and has in many cases led to being offered permanent positions. Overall the contract/temporary assignment market within financial services has matured quite quickly under the watchful eye of The Agency Workers Act which has made huge progress in protecting temporary workers. The banking and financial services industry in 2015 looks set to have a year where demand for talent will be pushed further than it has been in recent years. Demand for temporary, contract and permanent opportunities across the sector is set to remain high. Although it is logical to think that talent demands will drive salary levels higher in specific areas we fully expect that many groups will concentrate further on talent retention and talent development to ensure they have the best talent to drive their businesses forward. RETAIL BANKING Senior Commercial Banking Manager 60-80k 70-90k k 55-70k 75-80k k Commercial Lending 36-45k 50-60k 65k k 40-50k 55k + Head of Risk Modeling (SAS/SPSS/VBA/SQL) 70-90k k k 65-80k k k Credit Risk Modeling (SAS/SPSS/VBA/SQL) 35-48k 45-70k 70-90k 30-40k 45-60k 60k + Equity Analyst 35-40k 42-50k 50k k 40-45k 50k + Senior Credit Analyst 38-40k 42-50k 60k k 40-45k 60k + Risk Analyst 35-40k 45-55k 65k k 35-45k 48k + Underwriter 30-32k 32-40k 45k k 30-35k 45k + Credit/Loans Administrator 21-24k 25-27k 32k k 24-26k 28k + Mortgage Administrator 21-24k 25-27k 30k k 24-26k 28k + Mortgage Collections 22-26k 26-35k 40-60k 21-24k 25-30k 35k + Bank Assurance Advisor 21-24k 25-27k 30k k 24-26k 28k + Customer Service 21-24k 25-27k 30k k 24-26k 28k + Retail Banking 19-22k 24-26k 27k k 22-24k 25k + 10

14 CORPORATE/PRIVATE BANKING Senior Private Banking Manager 65-75k 80-90k 90k k 70-80k 80k + Senior Corporate Banking Manager 65-75k 80-90k 90k k 70-80k 80k + Senior Equity Analyst 50-65k 70-75k 80k k 60-65k 70k + Risk Manager 60-65k 70-75k 80k k 65-70k 75k + Credit Manager 55-60k 60-70k 80k k 55-65k 75k + Lending Officer 45-50k 55-60k 65k k 50-55k 55k + Private Banking Manager 45-50k 55-60k 65k + 45k 50-55k 60k + Relationship Manager 45-50k 55-60k 70k + 45k 50-55k 60k + Portfolio Administrator 25-28k 32-40k k 28-35k - TREASURY Head of Treasury 85-95k k 130k k k 115k + Treasury Operations Manager (Back Office) 60-65k 65-70k 70-90k 60k 65k 80k + Treasury Specialist 28-35k 35-45k 50-60k 26-32k 32-40k 45k + Treasury Administrator 20-26k 26-32k 32-45k 20-25k 25-30k 32-40k Treasury Risk 28-35k 35-50k 55-70k 25-32k 32-45k 45-60k Treasury Dealer 20-34k 40-55k 55-75k 21-30k 35-45k 45-75k 11

15 FRONT OFFICE Senior Wealth Manager 60-65k 65-75k 75-90k 55-60k 60-70k 70-90k Wealth Manager 45-55k 55-60k 60-80k k 45-55k 55-70k + Financial Adviser 28-35k 35-45k 45-55k 26-32k 32-40k 40-50k Senior Portfolio Manager 65-80k 75-85k k 60-70k 70-80k k Portfolio Manager 50-60k 60-65k 65-80k 45-55k 55-60k 60-75k Stockbroker 45-55k 55-65k 65-80k k 55-65k 65-80k + Junior Stockbroker 28-35k 35-50k k 28-40k - FX Sales Trader 40-50k 50-60k 60-70k 35-45k 45-55k 55-60k Equity/Bond Sales Trader 45-55k 55-65k 65-75k 40-45k 50-55k 55-65k Pensions/Investment Sales 25-35k 35-50k 50-60k 26-28k 28-45k 45-50k COMPLIANCE/LISTING Head of Compliance 80-90k k k k 80-95k 100k + Compliance Manager 60-65k 70-75k 80-90k k 65-70k 75k + MLRO 60-65k 70-75k 75k k 65-70k 70k + Compliance Assistant Manager / Officer 40-45k 50-55k 55k k 40-50k 50k + Compliance Administrator 25-28k 30-35k 35k k 28-32k 32k + AML Officer 28-32k 32-42k 40-50k 26-30k 30-40k 40k + Fraud Risk Manager 45-50k 55-60k 65k k 50-55k 60k + Fraud Risk Officer 25-30k 32-40k 45k k 30-35k 40k + Listing Executive 30-35k 40-45k 55k k 35-40k 45k + 12

16 FUND SERVICES VP Fund Accounting 85-95k k 130k k k 120k + AVP Fund Accounting 70-75k 80-85k 95k k 70-75k 85k + Fund Accounting Manager 55-60k 65-75k 75k k 60-65k 70k + Fund Accounting Assistant Manager 40-45k 45-55k 55k k 45-50k 55k + Senior Fund Accountant (2yrs exp) 28-35k 32-42k k 32-40k - Fund Accountant 23-32k 30-35k k 28-35k - CORPORATE ACTIONS/MARKET DATA Manager 55-60k 65-70k 70k k 60-65k 65k + Assistant Manager/Supervisor 40-45k 50-55k 55k + 40k 45-50k 50k + Senior Administrator 28-32k 35-38k 38-45k 26-30k 32-35k 35-40k Administrator 23-28k 30-35k k 28-32k - SHAREHOLDER SERVICES/TRANSFER AGENCY Head of Shareholder Services 85-95k k 120k k k 105k + Shareholder Services Manager 60-65k 65-75k 80k k 60-70k 75k + Shareholder Services Assistant Manager 40-45k 45-50k 55k k 40-45k 50k + Shareholder Services Supervisor / Team Lead 35-40k 40-45k 45k k 35-40k 45k + Shareholder Services Senior Administrator 28-32k 33-35k k 31-33k - Shareholder Services Administrator 23-28k 30-32k k 28-30k - 13

17 CUSTODY Head of Custody 65-75k 75-85k 90k k 75-80k 85k + Custody Manager 55-60k 65-75k 75k k 60-65k 70k + Custody Assistant Manager/Supervisor 40-45k 50-55k 55k k 45-50k 50k + Senior Custody Administrator 30-35k 35-38k k 31-35k - Custody Administrator 23-28k 30-35k k 28-30k - FINANCIAL REPORTING Financial Reporting Manager (Qualified) 60-65k 65-75k 80k k 60-70k 75k + Financial Reporting Supervisor (Qualified) 40-48k 55-60k 65k k 50-55k 60k + Financial Reporting Supervisor (Part Qualified) 35-40k 40-45k 55k k 40-45k 50k + Financial Reporting Administrator (Part Qualified) 25-30k 32-35k k 30-32k - 14

18 Human Resources The HR market saw continued growth in 2014 and this looks set to continue throughout There has been a significant increase in temporary and contract HR professionals across the board with a particular emphasis on contract recruiters. Aligned with global trends there has been an increase in shared service centres in Ireland, with HR here supporting operations across the UK and Europe up to regions as large as EMEA and APAC. With the increase in roles, candidates who have not moved over the past few years are considering new opportunities in a more confident market. Employers are increasingly seeking industry specific HR professionals with exact requirements on skills making the market more buoyant but still highly competitive. IT, financial services and technical recruiters are highly sought after in the market. Recruiters with strong reach within their respected fields are being snapped up. This increase in the market for contract recruiters is an indication of project hiring trends for restructures and fast organic growth. MNCs are also hiring on a contract basis initially due to long on-boarding processes which see more and more contracts converting to permanent hires. Due to demand for effective retention management and succession planning, compensation and benefits specialist requirements are on the increase. With limited available candidates at the senior end, companies are looking to lower level HR candidates with strong aptitudes for analytics with a view to growing their own talent. Primary growth sectors for HR are within financial services, pharmaceuticals, IT and marketing. Demand for HR generalist, HR business partner and HR management roles has remained largely consistent, with director levels still recovering. The regions have also seen an increase in contract and temporary HR opportunities in the past year. While most roles in Munster are focused in the cities, there have been roles right across the region from graduate and administrators up to HR director level. Across all industry sectors HR generalists and HR business partners remain in the highest demand in Munster but we have also seen increased demand for inhouse recruiters. Although the IT and pharmaceutical sectors dominate across Munster, there are opportunities right across the finance, hospitality, multilingual and engineering sectors. In the second half of 2014, we saw a vast increase of vacancies within Connaught and we foresee further growth in 2015 with expected newly created roles with MNCs. Overall 2015 is set to see growth in the HR market with new start-ups in the market requiring key professionals to attract, manage and retain their most important asset - their talent pool. Candidates on the market will need to ensure their CVs are tailored for each application and put in a lot of interview preparation before each meeting to make certain they are competing at the highest level. We have seen slight increases in salaries - between 3-10%, but by and large salaries are still below market average from pre-recession times. 15

19 GENERAL ROLES Executive HR Director k k 130k k k 120k + HR Director 75-90k k 110k k 70-80k 80k + Senior HR Manager 60-70k 70-85k 85k k 60-75k 75k + HR Manager 50-60k 60-70k 70k k 43-50k 50k + HR Business Partner k 60k k 70k + HR Generalist 30-38k 38-45k 45k k 38-45k 45k + HR Officer 25-33k 33-40k 40k k 33-40k 40k + HR Administrator 21-27k 27-35k 35k k k 35k + Training Manager 40-55k 55-65k 65k k 45-55k 55k + Training 22-30k 30-45k 45k k 28-38k 38k + HR Graduate 20-26k k - - SPECIALIST ROLES Talent Acquisition Specialist 30-40k 50-60k 60k k 33-45k 45k + Comp & Bens Global Manager k 100k k + Comp & Bens Manager 55-65k 70-85k 85k k 43-50k 50k + Comp & Bens Administrator 25-30k 45-55k 55k k 28-45k 45k + Employee Relations Officer 32-35k 40-45k 45k k 30-45k 45k + Industrial Relations Officer 35-45k 50-60k 60k k 30-45k 45k + ERO/IRO Manager 50-60k 60-70k 70k k 55-65k 65k + Learning & Development Director k k + Learning & Development Manager k 80k k Training Specialist 35-40k 45-55k 55k k 45k + Training Officer 30-35k 40-45k 45k k 25-30k 30k + 16

20 Insurance With another year of improvement within the insurance space, we have seen a lot of change occur over the last 12 months. A number of mergers and acquisitions have taken place, new start-ups have been established, independent brokerages are expanding and large multinationals have set up shop here. Following on from this, we predict continued growth in Due to the consistent tightening of regulatory controls within Ireland by the Central Bank, there is an increased demand for professional accreditations within insurance for fitness and probity adherence. Predominantly, the movement within the market over the last two years has been on QFA (Qualified Financial Advisor) and CIP (Certified Insurance Practitioner) accreditations. General Insurance On the general insurance side, there have been a number of recent acquisitions by main players resulting in an increased amount of demand for personal lines and commercial lines professionals. The underwriting space has also taken a slight jump recently with the increased need for professionals at a mid-senior level. With an increased amount of new business occurring, we can see that there will be more opportunities becoming available on the financial lines side. There have been excellent investments made in the last number of months and some fantastic companies have moved to Ireland from the U.S. resulting in demand for insurance professionals outside of the greater Dublin area. Life Insurance The main movement on the life side of insurance has seen a number of entry level positions opening up over the last year. There is a clear increase in demand for life assurance professionals and as a result the starting salaries have begun to rise in that area. New business and existing business professionals are in demand, with higher salaries for candidates with their full QFA. Brokerages There has been heightened recruitment needs in a lot of independent brokerages and it s evident that there is progressive growth in the market. There is demand for candidates with a broker background as they have end-to-end process experience with great exposure to multiple facets of the organisation. This is actually a growing need, where there is less focus placed on hiring professionals for a functionalized task, and instead there is a requirement for an end-to-end professional that can take ownership of an entire process. It gives more autonomy and is less costly. Claims On the claims side there hasn t been much activity, especially on the home and motor side as it is a very candidate rich market with not enough jobs to satisfy demand. With an announcement last year of a substantial increase on an insurers motor premiums due to government levy on insurance products, we had the last 12 months to see how other main players would react in the marketplace. It s very apparent that the competitive nature of home and motor claims means that there are going to be continued increases in premiums across the board. Reinsurance We ve seen a lot of exciting opportunities arising for graduates of actuarial mathematics and from the University of Limerick, risk and management degree programme. The majority of positions that are arising within reinsurance are either on the quantitative side for actuarial and underwriting or within multilingual. Actuarial & Quantitative Demand for actuaries has levelled out as predicted last year, there are still a number of highly sought after graduate programmes from the main players. We have seen a number of actuarial graduates make the transition into risk and valuation roles, quantitative roles and finally into underwriting roles. Salaries are still levelling out, but there is still a higher salary for Solvency II professionals. Outsourcing Models There has been another development in insurance over the last year where we ve seen some big players move to an outsourced recruitment model which unfortunately has the adverse effect of driving down the starting salaries for entry-level candidates. On the plus side, it is proving to be a successful method for a lot of companies with oversight on an international level becoming more and more common. 17

21 GENERAL Operations Manager k k Underwriting Manager k k k 60-90k Personal Lines Manager k 50-60k k 50-60k Claims Manager k 55k k 50k Commercial Underwriter 25-30k 45-60k 60k k 28-45k 45k + Personal Lines Underwriter 23-28k 28-40k 40k 23-25k 25-35k 35k + Commercial Account Executive 35-40k 40-50k 50k k 40-50k 50k + Commercial Account Handler 30-35k 35-40k 40k k 35-40k 40k + Corporate Broker 23-28k 28-40k 40k k 25-40k 40k + Loss Adjustor 24-30k 30-45k 45k k 30-45k 45k + Personal Lines Broker 21-26k 26-35k 35k k 26-35k 35k + Claims Handler 22-25k 25-35k 35k k 25-35k 35k + ACTUARIAL Chief Actuary 140k k Actuarial Manager - FIA - 120k k + - Actuarial Manager - Not FIA - 90k k + - Qualified Actuary 110k k Part Qualified 40-45k 45-55k 55k k 40-50k 50k + Nearly Qualified 55-60k 60-70k 70k k 55-65k 65k + Newly Qualified 80-95k k 110k k k 100k + Trainee Actuary (Graduate) 35-45k k

22 COMPLIANCE Head of Compliance k Compliance Manager 30-40k 40-70k 70k k 40-60k 60k + Compliance Officer 22-28k 28-40k 40k k 25-40k 40k + LIFE & PENSIONS Head of Underwriting k k Operations Manager k 70k k 60k + Pensions Manager k 55-80k k 50-75k Pensions Administrator 26k 32k 36k 24k 28k 32k Life Underwriter 26k 31k 34k 24k 28k 30k Life Administrator 26k 31k 34k 24k 28k 30k REINSURANCE Reinsurance Manager 65-75k 75-85k k 55-65k 65-75k k Reinsurance Underwriter 30-40k 40-55k 55k k 35-50k 50k + Reinsurance Broker 25-32k 32-45k 45k k 30-40k 40k + 19

23 IT 2014 saw further strengthening of the ICT market in Ireland, with growth across all verticals and investment in ICT teams as multinationals, SMEs and both indigenous and international start-ups set up in Ireland. This looks set to continue in 2015 with over 85% of employers surveyed expecting to invest further in IT expertise. Companies based in Ireland have evolved and adapted to an ever more globalised marketplace for their products, with web-based services an area of major growth. As a result there remains a skills shortage in Ireland for software developers in particular, with Java,.NET, Python and Ruby on Rails the most active areas. Roles with a crossover of this knowledge, aligned with strong business skills, continue to increase in popularity also. The sector continues to embrace new technologies quickly, and we expect to see further activity in Cloud, Mobile, Big Data and Virtualisation in Companies have recognised the necessity to deliver more flexible solutions to address talent shortages in Ireland, particularly in areas where development languages are in high demand (Python, Ruby, Android and ios) and candidate availability in Ireland is limited. This has led to solutions such as remote working becoming much more commonplace with developers now able to stay based at home while availing of an Irish-level salary or contract rate. In line with recognising the need to bring talent into Ireland from all areas of Europe many companies have adjusted their interview processes to accommodate. We are seeing more companies utilising pre-interview technical assignments, online test simulations and technical interviews to validate candidate skill levels. There is greater flexibility within the hiring process also, with more companies looking to teleconference and Skype to complete the majority of the interview process before meeting with candidates, and more frequently completing the full interview process and hiring candidates remotely if based out of the country. The IT contract market in Ireland has continued to expand quickly, a trend that began in 2013 and accelerated further in 2014 and looks set to continue at an increased rate again in The shortage of skills in development languages for candidates willing to work in Ireland on a permanent basis across Python, Ruby, Java,.Net, Android and ios languages continues to contribute to the boom in IT Contracting in Ireland. The rates offered attract candidates from across the whole of Europe including the UK. For the first time since the crash of 2008 IT Salaries are consistently showing an increase across the board, particularly in the development space. Salary increases are not incrementally as large as in the Celtic Tiger boom with companies ensuring more stable growth, although at the same time recognising the market is moving quickly enough to validate increases again. Salary is one consideration for candidates to move into a new role, but is by no means the only factor. Technology considerations (particularly the opportunity to move into more cutting edge technology), career development and training, work-life balance, benefits and profit share schemes were among the major factors for ICT professionals considering remaining with their current employer or making the move to a new challenge. 20

24 For 2015, we predict the following skills will be the most in demand; 1. Programming & Application Development Technical areas/languages: Java, Python, Scala, Ruby,.NET. With Java and.net still widely dominating demand we have also seen rapidly increasing demand for other rising stars such as Python, Ruby and Scala, with teams being set up to work solely on these technologies, or in conjunction with larger development teams in multinational companies. Demand for candidates in these areas will continue throughout 2015, and salaries will increase accordingly. 2. Web Development and UI/UX Design Technical areas/languages: Responsive Web Design, HTML, CSS, JavaScript (more powerful frameworks such as Backbone, Angular and Ember), PHP. With companies more and more focusing on their web presence and the look and feel of websites, focus on web development and design has seen a large increase in 2014 and this trend will continue throughout Javascript frameworks, especially Angular, and also Backbone, Ember and Node have been very prevalent in demand. UI and UX teams work closely with the web development area within many companies, often with web development and UI roles combined, and this is an area that will continue to evolve quickly. Candidates with strong Javascript framework experience can expect to see salaries rise on 2014 levels. 3. Business Analysis/Project Management Technical areas/skills: Agile, Waterfall, Scrum, Prince2, PMP Certification Demand for BAs and PMs rose in 2014 compared to the previous year, with increased project activity a sign of the continuing growth and strength of the IT sector. This demand readdressed some of the over-supply created by the downturn with a good balance of candidate availability to requirements currently should show a similar level of activity again. Prince 2 and PMP certifications are often required, which are both very much in demand and often the differentiator for candidates with similarly matched experience. Agile experience continues to dominate for software-focused projects. 4. Information Security Technical areas/skills: Wireless Network Security, Ethical Hacking, Risk Assessment, Cloud Security This is an area that is set to continue increasing in levels of activity as companies address the threats posed to IT systems. And as Ireland capitalises on its position as a major IT Hub, this area will also see requirements for more senior positions, including management of security aspects for multinational companies from Ireland. 5. DevOps Technical skills/areas: Unix/Linux, Virtualisation, Scripting, Development, Automation (Puppet, Chef etc.) A strong 2014 will see similar levels of demand in 2015 as organisations consolidate IT processes. Expect to see further evolution in this area as companies mature their development-to-operations processes. Further cross-over and changing responsibilities for systems and softwarefocused practitioners will see new opportunities created. 6. Database Administration Technical areas/skills: Oracle, Microsoft SQL Server, IBM DB2, MySQL, PostgreSQL Consistent demand throughout 2014 is expected to continue in 2015 with many of the multinationals locating their database teams in Ireland. 7. Business Intelligence Technical areas/skills: SQL Development, IBM Cognos, Tableau, Oracle BI, SAS BI, SAP Business Objects, Soft Skills in Presentation, Critical Thinking and Creative Problem Solving As with the database area demand was very consistent in 2014, and all indications are this will continue for Alongside the emergence of Big Data, companies are realising the potential of the data they generate at local level and smaller data groups, and are adopting business intelligence solutions to maximise their understanding - generating a stable demand for mid-senior level candidates. 8. Big Data Technical areas/skills: Hadoop, MapReduce, NoSQL, Data Visualization Development, Statistical Analysis With several multinationals undertaking Big Data projects last year activity in this area in 2015 will again be strong. As projects mature, expect to see teams grow in line with increased use of the capability platform established last year within Ireland. Candidates with strong academic backgrounds, often at PhD level, and good experience can command high salaries and this will continue. 9. Mobile Development & Device Management Technical areas/skills: ios App Development, Android App Development, BYOD Support, Mobile Security 2014 saw many companies concentrate attention on their mobile applications and mobile functionality. Competition within this space to ensure applications are user friendly, reliable and effective is a major battleground and this continues to be a key area where talent is required. Companies are restructuring to accommodate remote working and other solutions to attract talent, and expectations are that this will continue in

25 10. Networking Technical areas/skills: Wireless Network Design & Administration, WiFi, LTE, RFID, Network Security In line with a strengthening IT market 2014 saw increased activity in networking projects as companies assessed current solutions, and looked to adopt new solutions. Wireless networks, further advancement in cloud solutions and more attention focused on security requirements will drive activity in this area in Salaries will remain at similar levels to 2014 with possible slight increases in line with the further strengthening market. 11. QA and Test Technical areas/skills: Automation, Performance, Functional Testing. Automation Test Tools Selenium, QTP The increasing software development activity has driven a resurgence in QA and testing activity accordingly. The Selenium automation tool has been particularly in demand, along with QTP and other mature solutions. Salaries will remain at similar levels to 2014 with a possible premium for those with strong Selenium experience. 12. Application Support Technical areas/skills: Unix/Linux, Database Skills, Ability to Read Code, Debugging, Scripting With established multinationals, start-ups and SMEs all having applications support teams based here in Ireland, there will be a lot of activity in this area in These positions can offer excellent progression to full hands-on development positions and will continue to create interest. 13. Technical Support Technical areas/skills: Windows Desktop Support, Windows Admin, Unix/Linux Administration This is one area where expertise is prevalent in Ireland and candidate availability is good. Further evolution of cloud solutions and technical advancements will drive demand this year. 22

26 Permanent Salaries TECHNICAL SUPPORT IT Director/CTO k k 130k k k 110k + IT Managers 60-70k 70-80k 80-90k 50-60k 60-70k 70-80k Network Engineers 30-35k 35-50k 50-65k 30-35k 35-45k 45-60k Systems Administrators (UNIX/Linux) 35-40k 40-55k 60k k 35-45k 55k + Systems Administrators (Windows) 35-40k 40-55k 55k k 35-45k 50k + Technical Support (with a language) 25-28k 28-35k 35-38k 24-27k 27-32k 32-35k Technical Support (without a language) 22-25k 25-32k 35k k 24-30k 30-35k APPLICATION SUPPORT Chief Technical Officers K k 130k K 80-90k k Business Analysts 30-35k 35-50k 50-70k 25-30k 30-45k 45-60k Open Source Support 25-30k 30-45k 45-60k 25-30k 30-40k 40-50k Microsoft Support 30-35k 35-45k 45-60k 25-30k 30-40k 40-55k Java App Support 30-35k 35-45k 45-60k 25-30k 30-40k 40-55k DATABASE ADMINISTRATORS Oracle DBA 45k 45-60k 70k k 40-55k 55-70k SQL DBA 45k 45-60k 70k K 40-55k 55-70k DB2 45k 45-60k 70k K 40-55k 55-65k PROJECT MANAGERS Program Managers 80-90k k 100k k 80-90k 90k + Software 40-50k 55-70k 70-85k k 45-55k 55-75k + Infrastructure 40-50k 50-65k 65-85k k 45-55k 55-70k 23