Digital Salary Survey 2014 – Overview

This year, after several years of stagnation, salaries have risen as confidence increases in the job market. We attribute this to increasing revenues and optimism which inclines companies to offer pay increases (where perhaps there were pay freezes), and also due to employers needing to compete with the numerous new entrants to the Irish employment sector – many of whom are IDA-backed dotcom businesses who have a healthy hiring budget and comprehensive benefits package.

Local Irish businesses are now starting to compete with these dotcoms to acquire and retain the best talent, whereas for many years there was a significant difference between these two types of firms.
Another factor that pushes up salaries is the emergence of the ‘counter-offer’ – we have seen this increase noticeably in 2014 as employees are counter-offered more often than in the last 5 years, as the battle for good talent increases in Ireland.

The most obvious reason for increases in salaries is the ratio of supply and demand – certain skills are in huge demand and there are a finite number of experienced professionals in Ireland, therefore certain skillsets are commanding a higher than market average as companies compete for the same talent. For full survey results – http://www.prosperity.ie/survey_2014.html