Treasures for treasury dealers
Workers in the treasury sector have seen hefty pay hikes in the last year, in spite of a plentiful supply of candidates.
A head of treasury in Ireland can now expect to haul in a base salary of €145k-€180k, up from €120k-€150k last year, according to a survey by recruiters Brightwater.
Meanwhile, a senior dealer in the sector can expect a salary of €75k-€100k, up from €70-€90k in 2007, and a treasury dealer's base has grown from €40k-€70k this time last year to €50k-€70k today.
Stephen McCullough, consultant financial sales and marketing at Brightwater, reckons there's no shortage of treasury dealers in Ireland, but says the money fluctuates depending on the type of work undertaken.
"You have dealers in very technical roles advising multinationals on their FX exposures, who don't bring in a great deal of money. However, those traders working in a bank and both managing money and pro-actively bringing in business to boost the bank's bottom line will be well rewarded."
He says bonuses for hotshot traders typically come in at 100-200% of salary. There's also an increasing trend towards giving proprietary business to top traders, who can then take home big money.
"Bonuses are in direct alignment to what they've achieved over three, six or 12 months, and can be uncapped," says McCullough.
Nicola Kavanagh, managing consultant at recruiters Hudson, agrees that the real money is to be made by boosting your bonus, but reckons senior talent in Ireland can switch between sectors: "If you have a solid history of portfolio management and running a desk, firms want to hear from you, whether it be fixed income, equities or treasury experience."
