According to the Department of Finance Publication released by the Irish Government on 11th September 2023, Ireland became the fastest-growing economy in the Eurozone.
The country has consistently fostered a vibrant entrepreneurial system, attracting global companies and nurturing a culture of innovation. Dive into the article what is a good salary in ireland.
Whether you’re an expat seeking a job in Ireland or a local trying to make a career switch, you must know what the basic salary in Ireland is to set your expectations right.
Overview of Salaries in Ireland
Exploring the remuneration landscape in Ireland, it is evident that the country offers a diverse range of salary opportunities. According to the latest data, Ireland’s average income for a full-time worker is €3,220 per month and €38,600 per year.
The salary spectrum can range from as low as €9,730 to as high as €172,000, showcasing the substantial variations in compensation levels across different sectors and roles.
Median Income for Part-Time Workers
For part-time employees, the average median income in Ireland stands at €2,461 per month. A part-time worker can expect to earn a competitive hourly rate of €15.14, providing a stable income stream for those seeking flexible employment opportunities.
Growing Industries and Top Recruiters
The most thriving industries in Ireland include healthcare, pharmaceutical & social services, legal, and engineering. These sectors boast impressive average annual salaries, with healthcare and pharmaceutical & social services at €61,967, legal at €61,818, and engineering at €55,581.
Leading the charge in talent acquisition are renowned global brands such as Accenture, IBM, Apple, Intel, Pfizer, AstraZeneca, Deloitte, Fidelity Investments, HubSpot, Johnson & Johnson, and Dell Technologies.
Factors Affecting Salaries in Ireland
The salary you earn in the growing industries of Ireland is higher than the salary disbursed in other industries. For example, a General Manager in an engineering company will earn more than a General Manager at a restaurant.
There is also a difference in salary by education level. Those with a high level of education earn more than those with a Bachelor’s Degree.
Level of Education and Work Experience
As you gain experience, you expand your network, improve strategic vision, and enhance leadership qualities. That will make you an asset for companies, resulting in higher salaries. So, the more work experience, the higher the salary.
Location and Cost of Living
Your salary may also vary depending on the work location. For instance, the salaries in Dublin, Limerick, and Cork are higher than in other cities.
Company’s Profitability and Market Standing
A company’s position and background affect its revenue, which, in turn, affects the salaries it pays. If you work with a global brand, you’ll earn much more than you would earn with a new company.
Economic Conditions and Government Regulations
The unemployment rate, inflation, interest and exchange rates, cost of living, and demand and supply, among others, are economic factors affecting salaries.
The government’s employment regulations and labour laws also impact the potential salary in Ireland.
Top Industries and Average Salaries
Ireland’s diverse economy offers competitive salaries across various industries. Let’s explore the average salaries in the top sectors:
Healthcare, Pharmaceutical & Social Services
The healthcare, pharmaceutical, and social services sector in Ireland boasts an average annual salary of €61,967.
This industry encompasses a wide range of professions, from medical practitioners and researchers to social workers and administrative staff, all of which are in high demand and command respectable salary ranges by profession in ireland.
Legal
The legal industry in Ireland is another top-earning sector, with an average annual salary of €61,818. Solicitors, barristers, and legal executives can expect to earn competitive salary comparison ireland vs other countries due to the country’s thriving legal ecosystem and high demand for legal expertise.
Life Sciences
Ireland’s reputation as a global hub for life sciences is reflected in the industry’s average annual salary of €58,291. Professionals in fields such as biotechnology, pharmaceuticals, and medical devices can command substantial salary ranges by profession in ireland as the country continues to attract leading international companies in this sector.
Information Technology
The information technology (IT) sector in Ireland boasts an average annual salary of €55,882. From software developers and data analysts to cybersecurity specialists and project managers, IT professionals can expect to earn competitive salary comparison ireland vs other countries as the industry continues to thrive in the country.
Engineering
The engineering sector in Ireland offers an average annual salary of €55,581. Engineers across various disciplines, including civil, mechanical, and electrical, can command respectable salary ranges by profession in ireland due to the country’s focus on infrastructure development and technological innovation.
Part-Time Jobs and Salaries in Ireland
Individuals in Ireland can work part-time, and their rights are protected under the Protection of Employees (Part-Time Work) Act 2001. International students too can undertake part-time working opportunities along with their academics. This helps them to cover the costs of living in Ireland while pursuing their higher education.
As of 2024, you can earn €12.70 per hour as the minimum average wage in Ireland. Apart from the part-time jobs listed above, there are many other job types in Ireland in the following sectors: Bars/Restaurants/Cafes, Entertainment, Call Center, Retail, Secretary.
| Part-Time Job Type | Average Hourly Wage |
|---|---|
| Bartender | € 14 |
| Waitstaff | €12.27 |
| Retail Sales Associate | €12.20 |
| Call Centre Agent | €17.00 |
| Administrative Assistant | €15.74 |
The part-time job market in Ireland offers a range of opportunities for individuals seeking flexible work arrangements or supplemental income.
Whether you’re a student, a retiree, or simply looking to enhance your earnings, the country’s vibrant service and retail sectors provide a variety of part-time positions that can accommodate your needs and preferences.
What is a Good Salary in Ireland?
The average income in Ireland varies from city to city. Most international and renowned organisations have offices in Dublin, the capital of Ireland. The cost of living in Dublin is relatively higher due to the advanced infrastructure. As a result, the salary is also higher.
The average annual salary in different cities in Ireland are: Dublin (€63,019), Limerick (€55,141), Cork (€54,598), Galway (€49,347), Waterford (€36,000).
According to reports, earning over €45,000 is considered a decent income in major cities. Ireland’s average income for a full-time worker is €3,220/month and €38,600/year. It can range from €9,730 (lowest) to €172,000 (highest). A part-time employee can earn a €15.14/hr salary in Ireland.
The average median income for a part-time worker is €2,461/month. The most growing industries in Ireland are healthcare, pharmaceutical & social services, legal, and engineering.
The top recruiters in Ireland are Accenture, IBM, Apple, Intel, Pfizer, AstraZeneca, Deloitte, Fidelity Investments, HubSpot, Johnson & Johnson, Dell Technologies, etc.
Highest Paying Jobs in Ireland
The highest paying jobs in Ireland are typically found in the financial, legal, and technology sectors. Professionals in these industries can earn salaries well above the national average, with the top 5% of earners commanding annual incomes of €172,000 or more.
Some of the highest paying positions in Ireland include Chief Executive Officer, Surgeon, Finance Manager, and Software Architect.
Lowest/Minimum Paying Jobs in Ireland
At the other end of the spectrum, the lowest paying jobs in Ireland are often found in the retail, hospitality, and service industries. These positions typically pay at or just above the minimum wage, which is currently set at €12.70 per hour.
Examples of low-paying jobs in Ireland include Cashier, Waitstaff, and Housekeeper. While these roles may not offer the highest salaries, they can still provide a valuable source of income, especially for those starting out in the workforce or supplementing their income.
Salary Based on Work Experience
The most essential factor in determining your what is a good salary in ireland after your educational qualification and specific profession is the number of years of work experience. Employers across the globe prefer to hire candidates with relevant work experience, and Ireland is no different.
As you gain experience, you expand your network, improve strategic vision, and enhance leadership qualities. That will make you an asset for companies, resulting in higher salaries. So, the more factors affecting salary in ireland, the higher the salary.
According to recent studies, the average salary in Ireland can vary significantly based on the level of work experience. Professionals with less than 5 years of experience typically earn around €35,000 to €45,000 per annum.
Those with 5 to 10 years of experience can expect a salary range of €45,000 to €60,000. For individuals with 10 to 15 years of experience, the average salary ranges from €60,000 to €80,000.
Finally, those with over 15 years of experience can command salaries of €80,000 and above, with top earners reaching €100,000 or more.
It’s important to note that negotiating salary in ireland can also play a crucial role in determining your final compensation package. Factors such as your industry, job role, educational qualifications, and the company’s financial standing may all influence your ability to negotiate a higher salary.
By highlighting your unique skills, accomplishments, and the value you can bring to the organisation, you can effectively position yourself for a more favourable salary offer.
Conclusion
Ireland has become the fastest-growing economy in the Eurozone, with a vibrant entrepreneurial system and a culture of innovation. Whether you’re an expat or a local, understanding the average salary in Ireland is crucial to set your expectations right.
The country offers competitive salaries across various industries, with the healthcare, pharmaceutical & social services, legal, and engineering sectors leading the charge.
Factors such as industry, job role, level of education, work experience, location, company’s profitability, and economic conditions play a significant role in determining the salary ranges by profession in Ireland.
By aligning your skills and qualifications with the right industry and job profile, you can secure a lucrative salary in Ireland. It’s important to note that the cost of living in Ireland, especially in major cities like Dublin, can also influence the overall salary expectations.
Navigating the salary comparison Ireland vs other countries and understanding the Ireland income tax rates can further assist you in making informed decisions about your career prospects and financial planning in Ireland.
Additionally, being aware of the highest paying jobs in Ireland and the minimum wage in Ireland can help you negotiate your salary more effectively.
No Comments
Leave a comment Cancel