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Some top Irish executives get bonuses of 100% (with no pay cap)

A new salary guide published by professional recruitment agency Morgan McKinley also found that Dublin professionals get paid more that those in other parts.

THE AVERAGE BONUS for professionals in some of the most in demand professional positions is between 20 to 30 per cent of base pay according to new research.

A new salary guide published by professional recruitment agency Morgan McKinley found that executives in the fields of risk and compliance as well as business development receive these bonuses which are among the most significant.

The average bonus for professionals overall is between 5 per cent and 10 per cent with senior supply chain professionals receiving bonuses of up to 50 per cent.

The research points out that for some senior business development and commercial executives, bonus percentages can be up to 100 per cent of base, with no cap on earnings.

The research looked at ranges in Dublin and across three regional locations, Cork, Limerick and Waterford and carried out an analysis of a sample of over 25,000 jobs made across 15,000 employers.

It also found that workers in the financial sector in Dublin are paid distinctly more than those in other regions who have identical jobs.

Financial accountants in Dublin on average have a salary 17 per cent higher that their counterparts in Waterford an Limerick according to the salary guide .

It found that professional salaries in Dublin are, on average, between 8 per cent and 15 per cent higher than other parts of the county.

Mortgage arrears underwriters in Dublin with three years experience for example receive an average of €41,000 while those in the same position are paid €36,500 in Cork and €32,500 in both Limerick and Waterford.

Morgan McKinley’s Trayc Keevans said however that the salary gaps vary based on the sector they are in, with the demand for talent in some areas keeping pay more geographically balanced:

The degree of difference in pay is significantly less across the most in demand positions such as software development, engineering, supply chain and human resources. For sectors such as accountancy and finance and financial services, there is a notable differential in salary ranges offered in Dublin than in areas like Waterford and Limerick.

These in demand sectors also have impressive pay scale growth with the salaries of user experience consultants doubling in less than three years from €42,000 to €85,000 on average.

Keevans also says that the recruiters have observed an increase in demand for disciplines such as digital marketing, research and development  and data analytics.

“We anticipate that salaries for professionals with the requisite skills for these areas may rise in 2014 as the demand will exceed supply in the short to medium term.”

Column: Large pay packets aren’t an injustice – they’re a reward >

Read: ‘The bonus culture is back’: Taoiseach faces more questions over Irish Water bonuses >

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Rónán Duffy

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