Increased competition for executive talent is driving salary increases for higher earners according to leading executive search firm Ardlinn, part of the Cpl Resources Group.
Key findings include:
- CEO’s in the Private Sector earning double those in the Public Sector
- Buoyant level of activity for executive search
- Skills shortages increasing demand for overseas workers
The Irish recruitment company which is working with clients in the UK, the US and across international markets has adjusted its salary guide upwards for 2018 citing market competitiveness and an influx of talent from overseas due to skills shortages in certain sectors. In the private sector, CEO salaries are set at €150,000 – €500,000 showing an average increase of 11% with top bracket earners increasing by 25%. However, salaries for skilled roles are significantly lower in the public sector where CEO’s can expect to earn between €140,000 – €180,000.
Commenting on the report founder & Director of Ardlinn Áine Brolly said:
“The executive search market for senior public-sector jobs is unlikely to return to billing levels last seen before the financial crash. There is however a growing and sustainable market for expert assistance with very senior and sought-after roles in education, health and the wider public sector. This market has shown an upturn over the last twelve months which we expect to continue.”
Growing economic confidence, increased foreign direct investment and Ireland’s demand for talent contributed to a buoyant level of activity for executive search in 2017 with interest especially strong in technology, life sciences and finance.
According to Áine in order to retain talent the market has begun to hold the value of long term incentive schemes in higher regard.
“Multinationals that have invested in Ireland frequently include stock options in their standard packages for senior employees which has become a key tool in attracting international skillset without having to add to the basic salary. Across sectors employers are offering strong salaries, benefits, sponsorship and relocation packages. In the year ahead, we need to ensure our tax system is appealing, investment in infrastructure is increased and our positive lifestyle is promoted so Irish companies can attract top executive talent in 2018.”