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Survey: many firms beginning to lift recruitment freezes Back
Following two years of headcount cuts many companies are now beginning to lift recruitment freezes according to a survey by recruitment firm Robert Walters
The Irish recruitment market improved during 2011 as confidence began to slowly return to a number of sectors, according to the Robert Walters Global Salary Survey, released on 27th March.

The Survey reveals that the volume of positions released to the market in 2011 increased in comparison to 2010 and there was significant competition for talented professionals. Within the financial services sector, there was steady demand for risk, compliance and audit professionals in particular, as firms looked to increase headcount in these areas. There was also an increase in hiring levels in multinational organisations, particularly in telecommunications, IT, technology and FMCG sectors, while the insurance industry remained consistent with 2010 levels. Encouragingly, many roles were newly-created positions, as opposed to employers replacing existing staff, in line with increased business demand and a desire for organisational expansion.

'It was encouraging to note the increase in roles released to the Irish market in 2011, with a mix of newly-created positions and replacement roles. Candidate confidence increased from 2010 and there was greater movement across the jobs market. We witnessed a return of the counter offer for the first time in a number of years and staff retention was a key priority in most organisations. For the most part, salaries remained similar to 2010; however increases of between 5-10% were paid for specialist skills in certain areas', said Louise Campbell, Managing Director at Robert Walters Ireland.

Robert Walters Global Salary Survey – Key Findings (Ireland)

Banking & Financial Services

Key themes in 2011 recruitment market:
- Demand for risk professionals increased during 2011, with candidates with 2-5 years’ experience in quantitative risk disciplines steadily recruited throughout the year
- There was a shortage of experienced credit/restructuring candidates with 10+ years’ experience during the second half of 2011
- There were increased opportunities in the fund administration sector for candidates with transfer agency/investor services experience

- Salaries remained buoyant across banking and financial services during 2011 and the
majority of candidates commanded increases of 7 – 13% when moving roles
- Company stability and career progression were the main drivers for job seekers in 2011
rather than remuneration packages

Selected salaries:

Credit Risk Analyst
(3 – 5 years’ experience)
2011: €52 – 60k
2012: €55 – 70k

Financial Accountant
(1 – 3 years’ experience)
2011: €48 – 52k
2012: €50 – 56k

Corporate Banking Relationship Manager (5+ years’ experience)
2011: €85 – 100k
2012: €90 – 105k

Commerce Accountancy

Key themes in 2011 recruitment market:
- Greatest hiring demand with multinational technology, telecoms, FMCG and pharmaceutical
- As FDI in Ireland increased, many finance teams, particularly in the technology and
ISP/online sectors, increased headcount
- Many larger accountancy practices embarked on recruitment drives, with audit, risk and
corporate recovery specialists in greatest demand
- Demand for specialist skill sets, specifically revenue accounting, cost accounting, financial
modelling and forecasting, increased
-SME market remained slow overall

- Salaries remained relatively static for both permanent and contract roles throughout the year
- Bonuses were reintroduced in many organisations and were typically 10-20% of salary depending on sector

Selected salaries:

Business Analyst
(3 – 5 years’ PQE)
2011: €50 – 70k
2012: €45 – 60k

Head of Internal Audit
(5+ years’ PQE)
2011: €75 – 100k
2012: €75 – 100k

Management Accountant
(1 – 3 years’ PQE)
2011: €45 – 58k
2012: €42 – 55k

Legal & Compliance

Key themes in 2011 recruitment market:
- Legal hiring activity remained steady across the board in 2011
- Professionals with experience in funds, insolvency and financial services regulation remained in demand and this resulted in significant candidate shortages in these areas
- Compliance recruitment occurred across all areas of financial services, most notably in insurance, reinsurance, life and pensions, funds, stock broking and asset management
- The number of new roles created in compliance in 2011 rose from 2010 largely due to increased regulation and supervision by the Central Bank of Ireland and amendments at a European and international level

- Salaries remained relatively static with challenging roles and long-term job security proving to
be the key factors of consideration when professionals looked to move roles
- Salaries for compliance generally remained stable, although some candidates received
increases when moving roles, most notably those with 5 – 8 years’ experience

Selected salaries:

Lawyer – Private Practice
(8 – 10 years’ PQE)
2011: €100 – 120k
2012: €100 – 130k+

Head of Compliance
2011: €110 - 130k+
2012: €110 – 130k+

Company Secretary
(5 years’ experience)
2011: €55 – 60k
2012: €55 – 60k+


Key themes in 2011 recruitment market:
- IT professionals remained in high demand in 2011 and there was a notable increase in the volume of roles released to the market throughout the year especially at mid-level
- Financial services and insurance companies were particularly active throughout 2011, while IT professionals were in regular demand within the technology, gaming and pharmaceutical sectors
- There was unprecedented demand for .Net, Java and C++ specialists due to a shortage of available talent in these areas
- The number of senior IT roles in programme and project management increased as many IT projects, which were put on hold during the recession, recommenced

- IT salaries remained buoyant and sought-after candidates commanded a premium, in
particular, contractors with niche skills received salary increase of 5 – 10% when moving roles

Selected salaries:

.Net/C# Developer
2011: €45 – 60k
2012: €47 – 66k

Java/J2EE Developer
2011: €40 – 60k
2012: €42 – 66k

Business Analyst
2011: €35 – 50k
2012: €40 – 60k
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