Six in 10 employees expect to receive salary raise this year, research shows
The research shows the majority of employers (55 per cent) are also expecting to provide a raise of approximately 1-3 per cent in 2025.
Advertisement
One in four (26 per cent) expect to increase wages by 4–5 per cent, and one in 16 (6 per cent) expect to give 6–10 per cent of a raise. However, one in nine employers (11 per cent) also say they have no plans to increase wages.
People in Kilkenny are most likely to expect a salary increase (69 per cent), followed by those in Sligo (68 per cent) as well as Dublin and Limerick (65 per cent), while people in Cavan (28 per cent) have the lowest expectations of securing a raise, followed by Donegal, Leitrim and Westmeath (38 per cent).
The annual FRS Recruitment Employment Insights Report also showed that more than four out of 10 people (45 per cent) are willing to move jobs for a salary increase of 10 per cent or less.
A further three out of 10 would move for a wage hike of 11–20 per cent, with 15 per cent admitting they would move roles for a 21-40 per cent raise. While, separately two out of three (66 per cent) people say they would not take a pay cut if their job was at risk.
Advertisement
This focus on salary also aligns with what employers are experiencing, with five out of eight employers (62 per cent) noting more employees have looked to change jobs in the last year.
Two out of three employers (65 per cent) say the main reason for this is salary, following by hybrid/ remote working (39 per cent), as well as employees seeking a new challenge (32 per cent). Housing concerns were only regarded as a key factor for job change by one in five employers (20 per cent).
Job security
The research also showed that less than four out of 10 employees (38 per cent) fear for their job security, down from almost half (47 per cent) who were concerned when the same question was posed this time last year.
People in Carlow were the most fearful about their employment prospects, with 64 per cent admitting their concern, followed by Mayo (62 per cent), Donegal and Louth (58 per cent).
Advertisement
Least likely to be concerned were those in Kildare and Sligo (23 per cent), followed by Cork and Clare (26 per cent).
Seven out of 10 people (70 per cent) also believe they could secure a new job in three months or less, up from the 49 per cent who were of that view this time last year.
20 per cent believe it may take them three to six months to secure a new role, seven per cent estimate it will take six months to a year and three per cent believe it could take a year or longer.
Another finding of note from the research is that two out of out every three employees (65 per cent) have been asked to work more days in the office over the last year.
Advertisement
On the wider economy, seven out of 10 employers (72 per cent) acknowledge they are concerned about the current economic outlook, up from 58 per cent who admitted their concern when the same question was posed a year ago.
Events on the other side of the Atlantic could also impact on employment opportunities, with almost half of employers (48 per cent) saying additional US tariffs on Ireland would influence their hiring outlook for the year ahead.
Speaking about the research, general manager of FRS Recruitment said, Lynne McCormack, said: 'There is certainly a significant number of people who expect to receive a salary bump this year.
"This isn't a new development, as there has been pressure on salaries over several years now in light of the rising cost of living and the general health of the economy. People feel secure in their jobs.
Advertisement
"They know the economy has been at full employment for some time and vast majority expect that to continue for at least another year or longer.
"Most also believe that if they were to lose their job in the morning, they could quickly source an alternative. These are some of the factors that are giving them the confidence to expect better remuneration."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BreakingNews.ie
42 minutes ago
- BreakingNews.ie
McDonald criticises ‘do-nothing government' ahead of Dáil recess
The Dáil is rising for the summer after six months of a 'do-nothing government', Sinn Féin has claimed. The Dáil will rise ahead of the summer recess on Thursday and will not be due to return until September 17th. Advertisement Sinn Féin leader Mary Lou McDonald criticised Government leaders ruling out a 'cost-of-living package' in October's budget. She said election-time promises from Government parties were 'disappearing like snow off a ditch' at a time when people are hit by 'skyrocketing prices from every direction'. Addressing Taoiseach Micheál Martin during Leaders' Questions on Tuesday, Ms McDonald said: 'People, frankly, can't believe their ears when they hear you talk as if sky-high living costs they experience every day are a thing of the past. 'Extortionate prices are not past tense, Taoiseach, people are being fleeced now today, fleeced when they open their electricity and gas bill, when they get to checkout with the weekly shop, when they go to fill the car, when they go to buy basic toiletries like toothpaste or shampoo. Advertisement 'The out-of-control cost of living is making it so hard for working people to keep their heads above water now, as we speak, and so for you to tell households that you're not going to help them shows that you really don't understand the pressure that people are under.' Ms McDonald said households in Ireland are paying 30 per cent more on their electricity bills each year compared to the EU average, adding that the Government should include a measure on energy bills in the Budget. She added: 'We've had six months of your do-nothing government, and now as the Dáil for the summer, you leave people only with stress and uncertainty. 'People facing big rent hikes next year, thanks to you, students and their families facing a big hike in college fees, thanks to you, and thanks to you, tens of thousands of families left without cost-of-living supports and wondering how on earth they will make them through the winter.' Advertisement Taoiseach Micheál Martin (Liam McBurney/PA) Mr Martin said the Government had done more than any other European counterpart to 'cushion' the impact of cost-of-living increases following Covid-19 and the Russian invasion of Ukraine. Among a list of examples of steps taken by Government, he said the VAT reduction on gas and electricity had been extended and added there would be an increase in the amount of people qualifying for the fuel allowance. Elsewhere, he said women can now receive free HRT, the carers' support grant had been increased, and the Government had introduced the free hot school meals for primary pupils. He added: 'In April, we decided to extend the VAT reduction to 9 per cent on gas and electricity. This measure will save households €70 for gas and €55 for electricity.' Advertisement 'So far from your assertions that Government is doing nothing, we have taken all of these measures on top of the measures that we took in Budget 2025.' Mr Martin also said inflation in Ireland will come down to about 1.6 per cent this year, from a peak of around 10 per cent. He said this would mean Ireland will have the third-lowest rate of inflation among the 27 EU countries.
BreakingNews.ie
2 hours ago
- BreakingNews.ie
Apple tax money grew in value by €470m in 16 months prior to closure of account
The escrow account containing the Apple tax money has been closed, resulting in the transfer of almost €14.25 billion to the Exchequer, the Department of Finance has revealed. The value of the assets held in the account increased by €470 million in the 16 months leading up to its closure on May 16th, having already grown by €400 million during the preceding year. Advertisement This left the total value of the funds at €14.244 billion – slightly less than the €14.3 billion originally lodged by Apple in 2018 after the European Court of Justice (ECJ) found that it had received illegal state aid from Ireland. The financial assets had depreciated in value for five consecutive years before recording its first gain in 2023 as a result of higher interest rates and investment in assets with higher yields. Final accounts just published by the department show that the Ireland Apple Escrow Fund increased in value by €475 million in the 16 months prior to its closure, resulting in a €470 million profit after operating expenses. Following the closure of the account on May 16th, €1.567 billion was transferred directly to state coffers, while €12.677 was paid to the Revenue Commissioners for onward transfer to the Exchequer. Advertisement Apple had originally transferred €14.3 billion to the escrow account in 2018 pending its appeal against a European Commission decision, which found that the tech giant owed Ireland €13.1 billion plus interest of €1.2 billion. Last September, the ECJ delivered its final verdict in the long-running tax case, ruling against Apple's latest bid to overturn the Commission's decision. At the end of 2023, €6.165 billion of the funds in the escrow account were held in financial assets, while €7.629 billion remained in cash or cash equivalents. Accounts published by the department on Monday note that the investment policy for funds in the account had been agreed by the finance minister and Apple. Its performance was overseen by an investment committee comprising officials from the NTMA and the tech company. 'The investment objective was to preserve capital to the greatest extent possible in light of the prevailing market conditions,' the department said in a note accompanying the accounts. 'The risk appetite in respect of the fund as specified in the investment policy was 'low', with investment permitted only in highly rated euro-denominated fixed income securities.'
BreakingNews.ie
4 hours ago
- BreakingNews.ie
AI intensifying competition in Irish jobs market, survey finds
Irish workers say artificial intelligence (AI) is both creating opportunities and intensifying competition in the jobs market, according to a corporate survey. The hiring software firm's survey indicated that half of Irish workers fear for their jobs amid economic uncertainty and nearly two in three are struggling to navigate the jobs market – with AI intensifying competition. Advertisement Hiring company Greenhouse conducted a survey of 2,200 candidates, including 169 Irish-based workers along with workers from the UK and the US. Seventy-three per cent of Irish workers indicated they are using AI when looking for a new job, mainly for interview preparation (42 per cent), analysing job ads (28 per cent) and generating work samples (25 per cent). A further 54 per cent said AI is making job hunting harder by increasing skill standards and intensifying competition, while 41 per cent said it created and helped uncover new opportunities. The survey also indicated there is a lack of clarity on whether AI can be used when applying for jobs, with 82 per cent of workers stating that employers provided little or no guidance on using AI in interviews. Advertisement Nearly half of Irish job seekers said they feel insecure in their current role, while 42 per cent said the job market is very competitive. Chief executive of Greenhouse, Daniel Chait, said hiring is 'stuck in an AI doom loop'. 'As this technology advances, it makes it easier than ever to apply, flooding the system with noise,' he said. 'With 25 per cent of Gen Z saying AI has made it harder for them to stand out, candidates entering the market are up against more applications, more automation, and less clarity.' Advertisement Business Dublin TikTok worker replaced by AI loses claim fo... Read More The survey also indicated that 49 per cent of Irish job seekers said they had been asked inappropriate or biased questions during job application processes. The most common of these was about health or disability status (21 per cent), parental responsibilities (20 per cent), and age (18 per cent). A further 69 per cent said they had removed older experience from their CVs to try and avoid age-based assumptions, according to the survey.
