Many people feel underpaid for the work they do, but it can be hard to prove it. Recruiters are not a great source of information as they hide the salaries on job postings. It can also be awkward to ask peers how much they are paid and Irish people tend to be embarrassed to talk about money with their friends and family.
The Great Resignation
More and more of us are planning to move jobs than before. The Great Resignation or the Great Reshuffle whatever you want to call it is having a huge impact on labour markets around the world and Ireland in particular. According to a Kemmy Business School survey, 40% of people are thinking of quitting their current roles in Ireland.
Although there are many factors that have led to this, such as maintaining the newfound flexibility during the pandemic, the primary driver of most people remains to be their salary.
With such movement of people between jobs currently, people more than ever have the power in their hands to demand the salaries they deserve. But you need to have all of the information on what is the going rate of people in similar jobs to you before you consider making such a leap.
LINKEDIN SALARY INSIGHTS
Linkedin has developed a new tool that may help you see if your current salary is above or below the general market rate. This new tool is called Salary Insights. This feature can be found on the resources section of your profile.
With this tool, Linkedin collect the salary information from its own users – obviously the bigger the sample of respondents the better the quality of the stats are.
When you are filtering your data you can look at the country as a whole, or narrow your search even by county, city, or town. There is also an option to filter by experience level.
For the search for a financial accountant in Ireland, the results returned a median base salary of €55,000 out of 50 respondents. It is also easy to see the distribution of salaries from the chart, 22% of respondents were earning the higher end salaries of €61-€65k versus 10% of respondents earning lower range salaries of €40-€44k.
Respondents are also encouraged to detail any additional compensation they receive such as health insurance, pensions etc.
This tool is still very young and will become more and more accurate as time goes on as the number of respondents continues to increase. But even as it still stands it might be a good place to start to see how your own salary stacks up against what others are reporting.
The median salary levels for common jobs in Ireland in 2022 as per Linkedin Salary Insights:
|JOB TITLE||MEDIAN SALARY||ADDITIONAL COMPENSATION|
|Full Stack Engineer||€52,400||€0|
Disclaimer: This blog post is for informational and educational purposes only and should not be construed as financial advice.