MODEST 2-3% SALARY GROWTH EXPECTED AMID ECONOMIC & MARKET PRESSURES

The Morgan McKinley 2025 Irish Salary Guide - Ireland’s most comprehensive analysis of pay across a range of professions and sectors - has been published.

Morgan McKinley, the Irish-owned global talent services company, anticipates that Irish employers will take a measured approach to salary increases in 2025, with pay rises expected to remain modest at 2-3%. Despite a tight labour market and rising costs, businesses are prioritising targeted salary hikes for high-demand roles over broad pay adjustments.

Against a backdrop of moderate inflation and planned minimum wage hikes, companies are focusing on retaining talent in strategic areas. The days of across-the-board salary increases appear to be over, as firms adopt a more calculated approach, offering raises where they are most needed to address skill shortages.

The guide is accompanied by insights from an in-depth survey of both employers and employees in Ireland, offering a dual perspective on key trends in pay, benefits, hiring practices, and workplace flexibility in Ireland.

Detailed commentary follows below including key sectoral considerations and currently most in-demand skills/ roles:

Trayc Keevans, Global FDI Director at Morgan McKinley, commented on the findings: “Ireland's employment market remains competitive, with organisations becoming more selective about salary increases. While overall pay growth is modest, demand for skilled talent in technology, finance, compliance, life sciences, projects and change and construction give professionals in these fields strong negotiating power. Employers must take a strategic approach to pay and benefits to retain top talent.”

The guide reveals that only 22% of organisations disclose salary ranges, while 60% opt for confidentiality, citing concerns over employee dissatisfaction and complex pay adjustments. "Salary transparency remains a contentious issue for many companies. Employers are wary of the impact open salary structures may have on existing teams, but there is growing pressure from employees and job seekers for greater clarity," Keevans noted. "Companies that can implement structured and transparent salary frameworks will strengthen their ability to attract and retain talent."

The demand for flexible working arrangements remains high, with 67% of employees valuing remote work options and 56% prioritising flexible hours. While dissatisfaction with benefits has eased slightly, more than half (54%) of employees believe their packages need improvement, highlighting pensions, health insurance, and bonuses as critical employee offerings.

Despite 44% of companies increasing salaries in the past six months, businesses remain cautious about wage inflation. Rather than large-scale pay hikes, firms are adopting structured salary transparency and career progression plans to attract and retain skilled professionals in key sectors such as technology, life sciences, and financial services.

"We are seeing a shift from reactive salary increases towards more strategic talent retention initiatives. Employers who focus on structured career progression, meaningful benefits, and flexibility will be in the strongest position to compete for talent," Keevans added.

While more than half (56%) of employees expect a salary increase in 2025, more than 10% remain uncertain. Economic factors, company performance, and shifting hiring trends are fuelling this uncertainty, making job security a top concern. Professionals in highly competitive industries are increasingly looking beyond salary, valuing long-term career prospects and work-life balance.

“The regional recruitment market in Ireland is thriving, with growing investment in remote work and regional job hubs creating exciting new opportunities outside Dublin. While Dublin remains a major employment hub with a strong multinational presence, the regions are becoming increasingly attractive, offering growing career prospects, a more affordable cost of living, and an enhanced work-life balance. Together, these developments are strengthening Ireland’s position as a diverse and dynamic place to build a career.

"The Irish job market has settled into a measured pace after the rapid post-pandemic shifts. While economic and regulatory challenges persist, companies that invest in salary transparency, structured career progression, and flexible working policies will be best positioned to attract and retain top talent in 2025," concluded Keevans.

Sectoral highlights:

Technology

Most in demand positions for 2025: Automation Engineer, DevOps experience, Cybersecurity specialists, Infosec specialists, and DORA/ NSIT related hires.

Ireland’s technology sector stabilised in 2024 following restructuring in 2023, with hiring resuming cautiously amid budget constraints. While recruitment was slow in the first half of the year, demand picked up from July, with 70% of roles being newly created rather than replacements. Cybersecurity, compliance, and UX remain key hiring areas, driven by regulatory changes such as NIS2, DORA, and the upcoming EEA implementation. Increased candidate availability, particularly in cybersecurity, has created a more competitive job market, leading to slight declines in contract daily rates. Salaries have largely plateaued, with job movers securing modest increases of around 10%, a stark contrast to the rapid salary growth seen in previous years. Hiring in 2025 is expected to remain measured, with continued demand for specialised technology roles.

Projects & Change

Most in demand positions for 2025: IT Project Manager, Business Analyst and Change Manager.

Ireland’s Projects & Change talent market in 2024 favoured contract roles, particularly in tech and finance, as companies sought flexibility for short-term projects. Demand remained high for digital transformation, ERP implementation, and agile expertise, though shortages intensified competition. Hiring in GDPR, ESG, and DORA compliance was cautious as firms assessed long-term needs. Permanent roles were still key in healthcare, utilities, and finance. Salaries rose modestly, especially in transformation and compliance roles, though increases lagged behind living costs. In 2025, demand will remain strong, with firms balancing talent needs against budget constraints while streamlining hiring to secure top candidates.

Accounting and Finance

Most in demand positions for 2025: Finance Director, Financial Accountant: 0-3 years PQE, FP&A / Finance Business Partner, Financial Controller and Accounts Payable.

Accounting and finance roles continue to attract steady interest, particularly at the senior level, but newly qualified accountants are in short supply due to emigration trends. Dublin remains a hub for permanent roles, with employers increasingly favouring in-office work over remote arrangements. Salary growth in this sector has been limited, except for highly sought-after professionals transitioning from top accounting firms.

ESG

Most in demand positions for 2025: ESG Reporting Manager, Head of Sustainability, ESG Reporting Analyst, Sustainability Advisor.

Regulatory changes and ESG (Environmental, Social, and Governance) requirements are driving demand for skilled professionals in banking and financial services. Firms are balancing increased hiring needs with budget constraints, making contract roles an attractive option. While salaries remain competitive, businesses are enhancing benefits and hybrid working models to retain top talent.

Banking & Financial Services

Most in demand positions for 2025: Risk and Compliance Analyst, Financial Planner/ Wealth Manager, Pension Administrator, Credit Analyst, Investment Banking Analyst and Financial Crime Analyst.

The banking and financial services sector has seen a notable increase in contract roles, particularly in regulatory compliance, risk management, and project management, as firms navigate economic and regulatory pressures. Permanent hiring remains strong in wealth management and senior leadership positions, reflecting long-term business confidence. Demand for compliance, risk, and ESG specialists has intensified, driving salaries higher for niche roles, while broader salary growth is expected to align with inflation. Brexit has reinforced Ireland’s status as a financial hub, sustaining demand for skilled talent. Retention strategies, including enhanced benefits, career development, and hybrid work models, will be critical as firms compete for top professionals in an evolving market.

Life Sciences & Engineering

Most in demand positions for 2025: Project Engineers, Automation (Siemens, Delta V, Rockwell), Tech Transfer/NPI, QC Microbiology (Across all levels) and Regulatory Affairs Specialists.

Life sciences and engineering remain high-growth sectors, with strong demand for contract roles in validation, automation, and biopharmaceutical manufacturing driven by new product introductions, transfers, and cost-saving strategies. Contract rates remain high, particularly for onsite and relocation-heavy roles, while permanent salary increases have been more modest, generally aligning with inflation. Employers are focusing on flexible work arrangements and enhanced benefits to attract and retain talent, as accommodation shortages in Cork, Limerick, and Dublin continue to pose challenges for relocation. Candidates are prioritising career progression, work-life balance, and total compensation over base salary alone, making non-monetary benefits a key differentiator in hiring and retention strategies.

Supply Chain & Procurement

Most in demand positions for 2025: Procurement/Purchasing Specialist, Procurement Manager.

Ireland’s Supply Chain & Procurement talent market remained steady in 2024, with a strong preference for permanent roles over contracts, particularly in the summer when 90% of available positions were permanent. This shift reflects companies' focus on long-term stability in supply chain operations. Demand for procurement, supply chain, and logistics professionals remained consistent, though senior-level movement was limited. Salaries saw modest increases at mid-junior levels, while senior professionals experienced more substantial rises, largely in line with inflation.

Construction

Most in demand positions for 2025: Quantity Surveyors, Electrical Project Managers, Mechanical, Project Managers, Site Engineers and Project Managers.

The construction sector continues to grapple with labour shortages, particularly in engineering, project management, and quantity surveying. Government-backed infrastructure investments and housing targets - 500,000 new homes over the next decade - are driving strong hiring demand, keeping salaries competitive. Irish construction firms are also delivering major projects across Europe, adding to the need for skilled professionals.

Labour shortages persist in both trades and professional roles, exacerbated by gaps in the education system and housing challenges that limit overseas recruitment. At the same time, demand for specialist skills is rising, particularly in renewable energy and infrastructure, as Ireland accelerates retrofitting, EV charging projects, and upgrades to essential services. These trends continue to shape hiring needs and salary growth across the sector.

Legal, Risk & Compliance

Most in demand positions for 2025: Construction Lawyers, Energy Lawyers and Employment Lawyers.

Ireland’s Legal & Compliance market remained stable in 2024, with rising demand for contract roles in data protection, DORA compliance, AI, and corporate governance, while most hires remained permanent. Private practice hiring was strong early in the year, while in-house legal roles grew later. Competition remains intense in fintech, intellectual property, energy, and employment law, though demand for corporate and banking lawyers has dipped. A shortage of niche expertise has extended hiring timelines as firms prioritise both technical skills and cultural fit. Salaries have largely remained flat, with new legal graduates increasing competition and budget constraints limiting pay growth. While regulatory workloads have risen, this has not consistently led to higher salaries. In 2025, demand for specialised legal skills may drive salary growth in key areas, while firms focus on upskilling, flexible work, and employer branding to attract top talent.

Executive

Most in demand positions for 2025: CFO, CISO, CTO and COO.

The Executive Search market in Ireland remained strong in 2024, with high demand for senior roles, particularly in retail and specialised technology positions such as CTOs and CISOs. The demand for strong CFOs remains high, given the need for strategic financial leadership amid economic uncertainties, including global trade tensions, to ensure financial resilience. Additionally, the role of the Chief Information Security Officer (CISO) has gained prominence. With the increasing sophistication of cyber threats, companies are prioritising cybersecurity at the executive level to protect sensitive data and maintain stakeholder trust. However, hiring remains slow, often taking 3–6 months, prompting companies to expand their search internationally to address skill shortages. This trend is expected to continue in 2025 as firms compete for top-tier talent. Executive salaries remain competitive, with candidates prioritising total compensation packages, including bonuses and long-term incentives. Customised remuneration structures are set to remain key in attracting senior leaders.

Human Resources

Most in demand positions for 2025: HR Manager, HR Generalist, TA/HR coordinator at contract level.

The HR talent market slowed significantly in 2024, particularly within multinationals, with Talent Acquisition roles hit hardest due to over-hiring in 2022. Most opportunities have been contract-based at the TA coordinator level, and candidates are cautious in considering new roles. Hiring is expected to gradually recover in 2025 as the market stabilises. HR salaries, which rose in 2022–2023, have now levelled off, though candidates at mid-senior levels increasingly prioritise benefits such as pensions and healthcare alongside base pay.

Sales & Marketing

Most in demand positions for 2025: Communications Manager, Digital Marketing Specialist and Event Executive.

The Sales & Marketing market in Ireland leaned toward permanent roles in 2024, with mid-senior hiring dominating while executive-level opportunities declined. Competition remained strong, with counteroffers common as candidates prioritised flexibility, pay, and bonuses. Dublin retained a deep talent pool, while Cork faced shortages. Job flow dropped from 2023 as economic caution slowed hiring, leading to lengthier recruitment processes. Salaries remained stable and are expected to hold steady in 2025, with firms focusing on strategic talent retention amid continued market uncertainty.

Multilingual

Most in demand positions for 2025: Customer Service Advisor, Account Manager, AML/Compliance Analyst, Customer Onboarding Specialist.

The multilingual hiring market in Ireland for 2025 is expected to see continued demand for German, Nordic languages (including Finnish and Danish), Portuguese, Dutch, Turkish, Arabic, and Asian languages such as Mandarin and Thai. While Inside Sales roles within Big Tech have slowed, employers are increasingly seeking language talent for Customer Service, AML, and KYC positions, reflecting a broader diversification of multilingual career opportunities. This shift highlights the growing importance of language skills beyond sales, as companies prioritise customer experience and regulatory compliance functions. However, attracting multilingual talent to Ireland – particularly to key hubs like Dublin and Cork – remains a challenge, with housing availability and affordability posing an obstacle for relocation.

Further press information: Sarah Lawlor, MKC Communications, 086 1904125

About Morgan McKinley

Morgan McKinley is a global talent services expert, offering the full spectrum of solutions to meet employers’ and jobseekers’ needs. With 19 offices in 10 countries and nearly 1000 employees, it provides 3 distinct solutions for customers. These are Morgan McKinley Recruitment Solutions encompassing deep expertise across 10 professional disciplines offering temporary, contract and permanent recruitment; Morgan McKinley Executive Search for targeted C-Suite talent searches; and Morgan McKinley Talent Solutions including Recruitment Process Outsourcing (RPO), Managed Staff Provision (MSP), Project Recruitment and more.

https://www.morganmckinley.com