Salaries static, work life balance makes a comeback

Irish financial services workers have been staying put in 2008 and as a result the salary inflation that has been so common in recent years has stopped and pay has largely remained frozen.

The latest salary survey by recruiters Premier Group paints a picture of caution and a renewed focus on sticking with what you have. Ireland's finance workers are focusing less on monetary incentives and more on security.

"From a candidate perspective there is a strong focus on job security, benefit packages and opportunity to achieve a work-life balance," says Andrea Clarkson, manager, financial services at Premier Group.

Clarkson says that there has been a good demand for risk, compliance and regulation professionals this year, but this has not been reflected in salaries, which have largely remained on a par with last year.

A compliance manager, for instance, can expect to earn between €56-110k in Dublin, while a risk manager can take home anything between €55-100k.

"The funds industry has remained steady in spite of challenging market conditions in 2008," says Deborah Hall, senior consultant at Premier.

A fund administration manager can expect to earn €90k at the high end - in comparison to e80k last year - but salaries have largely remained static in this space.

Hall says there will be more of a focus on mid- to senior level hires next year and that entry level candidates should prepare themselves for reduced opportunities.

What are you worth?

CORPORATE BANKING

Banking manager €55-120k

Banking officer €55-90k

Credit analyst €35-60k

PRIVATE BANKING

Wealth manager €45-85k

Private banking manager €50-100k

Private banking officer €35-50k

BANKING OPERATIONS

Compliance manager €56-110k

Compliance officer €34-68k

Risk manager €55-100k

Risk officer €44-68k

FUND ADMINISTRATION

Fund admin manager €60-90k

Fund admin supervisor €45-55k

Fund administrator €28-50k

Source: Premier Group. The above is just a snapshot of the full salary survey (which covers other industries as well as financial services) and is available here