More than two thirds (67%) of Ireland’s workforce is expecting a pay rise in 2017 with 33% anticipating an increase of €2,500 or more. However, the Matrix Recruitment 2017 Benefits and Salary Survey shows that these expectations may not be met by employers, as only 36% of the 1,537 people surveyed by us actually received a pay rise in 2016.
Cost of Living Increase
83% of employees experienced an increase in their cost of living last year and the Matrix Benefits and Salary Survey shows that car insurance, health insurance and rent increases are the key contributors.
The Salary Survey highlighted three quarters of people have or intend to cut back on their spending.
31% would consider a pay cut
One third of employees expect to change job in 2017, although 55% admitted they would be willing to stay with their current employer if an offer of a higher salary were made. The Matrix Salary Survey findings also reveal that 31% would be willing to take a pay cut for the right job with the right opportunities. If you are considering moving jobs, why not check out our Interview Tips here.
And when asked about this the most important reason for moving job…
For advice on moving jobs into a new industry click here.
Millennials want more free time
Benefits are important and health insurance ranked number one in the survey. However, for those aged 18-24, flexitime is the priority, ranking ahead of even a performance-related bonus.
Don’t be afraid to ask!
When it comes to asking for a pay rise, most people feel confident about initiating the conversation with their boss or manager, but 19% feel so uncomfortable with the issue that they won’t ask for a pay rise at all this year.If you are currently jobseeking, read here for advice on how to answer the “what are your salary expectations?” question in an interview.
Joanne Foley, manager of our Dublin branch, offers her advice: “Never be afraid to ask for a pay rise, particularly if you feel it is merited. It’s not always easy, but prepare yourself by practising what is, in effect, your pitch and make sure you can offer reasons as to why you feel you deserve a pay rise. Choose your moment carefully; if a boss is under pressure they are less likely to give you the airtime you might deserve. Avoid taking a confrontational approach and instead, highlight the contributions you have made to the company. You may not always get the answer you want, but at least you can give yourself the best opportunity in securing a salary increase and can weigh up your options accordingly.”
If you are interested in having a private and confidential chat about your career, why not get in touch with one of our consultants today – Click here.