The Robert Walters Global Salary Survey for 2017 contains recruitment market updates, hiring advice and benchmarks salaries across our global markets.
Here we discuss the outlook for the banking & financial services sector in Ireland.
Organisations focus on growth
Hiring in banking and financial services grew steadily throughout 2016 as confidence in the Irish economy continued to improve. Ireland’s pillar banks increased headcount across all disciplines of risk management as they returned to profitability and started lending more aggressively. Operational risk professionals experienced in governance, methodology development, and overseeing first line of defence and business activities, were most sought after. Technical areas of risk management played a larger role in this sector as firms come under increasing pressure to ensure risk models are fit for purpose and compliant with European regulations.
In a competitive jobs market, we advise organisations to offer clear, well defined career paths for existing staff, alongside a competitive remuneration package.
Brendan Simeson, Banking & Financial Services Senior Consultant for Robert Walters Ireland said: "Deal flow returned to investment banking and corporate finance in 2016 as Irish firms with additional capital became acquisitive. There was visible movement across private banking, stockbroking and asset management, as firms continue to lean towards private client advisory and tailored wealth management solutions in the retail and corporate client markets."
Increase in candidate confidence
The Irish funds market was buoyant in 2016, supporting increased movement in the market as candidate confidence continued to grow. The alternative fund services market also remained strong with steady demand for fund accounting, investor services and trustee professionals. The number of permanent roles being offered increased and we witnessed a large number of counter-offer situations in the market which in turn drove salaries up, a trend we expect to continue in 2017.
Hiring across all areas of fintech remained buoyant in 2016 as start-ups and organisations increased new hire budgets due to increased profitability from improving economic conditions – a trend we expect to see maintained throughout 2017. In a competitive jobs market, we advise organisations to offer clear, well defined career paths for existing staff, alongside a competitive remuneration package.
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