Pay adds up for Ireland's accountants
Salaries for Ireland's accountants have risen 15% in the past year, while accounting contractors are now earning 25% more than in 2006.
The latest salary survey by recruiters Robert Walters suggests even part-quals can expect €40k-€45k starting salaries, and the average increase in pay is between 12% and 15%.
Irish accountants' immunity to the credit crunch is down to a combination of buoyant demand and tight supply.
Louise Campbell, managing director Ireland at Robert Walters, says: "The cost of acquiring talent is ever increasing. We have seen many challenges such as candidates entertaining multiple job offers and an increase in buyback situations."
Rising demand is the result of regulations like Sarbanes Oxley, Basel II and IFRS.
But with all this cash on the table, Ireland's accountants have become a fickle bunch - hiring them is one thing, holding on to them is another.
In an attempt to prevent accountants quitting for more cash, companies are also offering benefits that range from the usual, like gym membership and mortgage subsidy, to the more creative, such as onsite crèches and free housekeeping. What's more, there's an increasing focus on staff development programmes.
Peter Cosgrove, managing director of recruitment firm Hudson's Irish operation, says: "Many companies are now offering performance related bonuses where individual effort and achievement are recognised, while soft benefits include contributions to further education and training, company child-care facilities, extra holidays and technology.... It may only be a matter of time before dog walking is bundled in there too."
