Tag: Morgan McKinley

Days of across-the-board pay rises are over as Irish firms prioritise critical skills

The Morgan McKinley 2025 Irish Salary Guide – Ireland’s most comprehensive analysis of pay across a range of professions and sectors – has been published.

Morgan McKinley, the Irish-owned global talent services company, anticipates that Irish employers will take a measured approach to salary increases in 2025, with pay rises expected to remain modest at 2-3%. Despite a tight labour market and rising costs, businesses are prioritising targeted salary hikes for high-demand roles over broad pay adjustments.

Against a backdrop of moderate inflation and planned minimum wage hikes, companies are focusing on retaining talent in strategic areas. The days of across-the-board salary increases appear to be over, as firms adopt a more calculated approach, offering raises where they are most needed to address skill shortages.

The guide is accompanied by insights from an in-depth survey of both employers and employees in Ireland, offering a dual perspective on key trends in pay, benefits, hiring practices, and workplace flexibility in Ireland.

Detailed commentary follows below including key sectoral considerations and currently most in-demand skills/ roles:

Trayc Keevans, Global FDI Director at Morgan McKinley, commented on the findings: “Ireland’s employment market remains competitive, with organisations becoming more selective about salary increases. While overall pay growth is modest, demand for skilled talent in technology, finance, compliance, life sciences, projects and change and construction give professionals in these fields strong negotiating power. Employers must take a strategic approach to pay and benefits to retain top talent.”

The guide reveals that only 22% of organisations disclose salary ranges, while 60% opt for confidentiality, citing concerns over employee dissatisfaction and complex pay adjustments. “Salary transparency remains a contentious issue for many companies. Employers are wary of the impact open salary structures may have on existing teams, but there is growing pressure from employees and job seekers for greater clarity,” Keevans noted. “Companies that can implement structured and transparent salary frameworks will strengthen their ability to attract and retain talent.”

The demand for flexible working arrangements remains high, with 67% of employees valuing remote work options and 56% prioritising flexible hours. While dissatisfaction with benefits has eased slightly, more than half (54%) of employees believe their packages need improvement, highlighting pensions, health insurance, and bonuses as critical employee offerings.

Despite 44% of companies increasing salaries in the past six months, businesses remain cautious about wage inflation. Rather than large-scale pay hikes, firms are adopting structured salary transparency and career progression plans to attract and retain skilled professionals in key sectors such as technology, life sciences, and financial services.

“We are seeing a shift from reactive salary increases towards more strategic talent retention initiatives. Employers who focus on structured career progression, meaningful benefits, and flexibility will be in the strongest position to compete for talent,” Keevans added.

While more than half (56%) of employees expect a salary increase in 2025, more than 10% remain uncertain. Economic factors, company performance, and shifting hiring trends are fuelling this uncertainty, making job security a top concern. Professionals in highly competitive industries are increasingly looking beyond salary, valuing long-term career prospects and work-life balance.

“The regional recruitment market in Ireland is thriving, with growing investment in remote work and regional job hubs creating exciting new opportunities outside Dublin. While Dublin remains a major employment hub with a strong multinational presence, the regions are becoming increasingly attractive, offering growing career prospects, a more affordable cost of living, and an enhanced work-life balance. Together, these developments are strengthening Ireland’s position as a diverse and dynamic place to build a career.

“The Irish job market has settled into a measured pace after the rapid post-pandemic shifts. While economic and regulatory challenges persist, companies that invest in salary transparency, structured career progression, and flexible working policies will be best positioned to attract and retain top talent in 2025,” concluded Keevans.

Sectoral highlights:

Technology

Most in demand positions for 2025: Automation Engineer, DevOps experience, Cybersecurity specialists, Infosec specialists, and DORA/ NSIT related hires.

Ireland’s technology sector stabilised in 2024 following restructuring in 2023, with hiring resuming cautiously amid budget constraints. While recruitment was slow in the first half of the year, demand picked up from July, with 70% of roles being newly created rather than replacements. Cybersecurity, compliance, and UX remain key hiring areas, driven by regulatory changes such as NIS2, DORA, and the upcoming EEA implementation. Increased candidate availability, particularly in cybersecurity, has created a more competitive job market, leading to slight declines in contract daily rates. Salaries have largely plateaued, with job movers securing modest increases of around 10%, a stark contrast to the rapid salary growth seen in previous years. Hiring in 2025 is expected to remain measured, with continued demand for specialised technology roles.

Projects & Change

Most in demand positions for 2025: IT Project Manager, Business Analyst and Change Manager.

Ireland’s Projects & Change talent market in 2024 favoured contract roles, particularly in tech and finance, as companies sought flexibility for short-term projects. Demand remained high for digital transformation, ERP implementation, and agile expertise, though shortages intensified competition. Hiring in GDPR, ESG, and DORA compliance was cautious as firms assessed long-term needs. Permanent roles were still key in healthcare, utilities, and finance. Salaries rose modestly, especially in transformation and compliance roles, though increases lagged behind living costs. In 2025, demand will remain strong, with firms balancing talent needs against budget constraints while streamlining hiring to secure top candidates.

Accounting and Finance

Most in demand positions for 2025: Finance Director, Financial Accountant: 0-3 years PQE, FP&A / Finance Business Partner, Financial Controller and Accounts Payable.

Accounting and finance roles continue to attract steady interest, particularly at the senior level, but newly qualified accountants are in short supply due to emigration trends. Dublin remains a hub for permanent roles, with employers increasingly favouring in-office work over remote arrangements. Salary growth in this sector has been limited, except for highly sought-after professionals transitioning from top accounting firms.

ESG

Most in demand positions for 2025: ESG Reporting Manager, Head of Sustainability, ESG Reporting Analyst, Sustainability Advisor.

Regulatory changes and ESG (Environmental, Social, and Governance) requirements are driving demand for skilled professionals in banking and financial services. Firms are balancing increased hiring needs with budget constraints, making contract roles an attractive option. While salaries remain competitive, businesses are enhancing benefits and hybrid working models to retain top talent.

Banking & Financial Services

Most in demand positions for 2025: Risk and Compliance Analyst, Financial Planner/ Wealth Manager, Pension Administrator, Credit Analyst, Investment Banking Analyst and Financial Crime Analyst.

The banking and financial services sector has seen a notable increase in contract roles, particularly in regulatory compliance, risk management, and project management, as firms navigate economic and regulatory pressures. Permanent hiring remains strong in wealth management and senior leadership positions, reflecting long-term business confidence. Demand for compliance, risk, and ESG specialists has intensified, driving salaries higher for niche roles, while broader salary growth is expected to align with inflation. Brexit has reinforced Ireland’s status as a financial hub, sustaining demand for skilled talent. Retention strategies, including enhanced benefits, career development, and hybrid work models, will be critical as firms compete for top professionals in an evolving market.

Life sciences & engineering

Most in demand positions for 2025: Project Engineers, Automation (Siemens, Delta V, Rockwell), Tech Transfer/NPI, QC Microbiology (Across all levels) and Regulatory Affairs Specialists.

Life sciences and engineering remain high-growth sectors, with strong demand for contract roles in validation, automation, and biopharmaceutical manufacturing driven by new product introductions, transfers, and cost-saving strategies. Contract rates remain high, particularly for onsite and relocation-heavy roles, while permanent salary increases have been more modest, generally aligning with inflation. Employers are focusing on flexible work arrangements and enhanced benefits to attract and retain talent, as accommodation shortages in Cork, Limerick, and Dublin continue to pose challenges for relocation. Candidates are prioritising career progression, work-life balance, and total compensation over base salary alone, making non-monetary benefits a key differentiator in hiring and retention strategies.

Supply chain & procurement

Most in demand positions for 2025: Procurement/Purchasing Specialist, Procurement Manager.

Ireland’s Supply Chain & Procurement talent market remained steady in 2024, with a strong preference for permanent roles over contracts, particularly in the summer when 90% of available positions were permanent. This shift reflects companies’ focus on long-term stability in supply chain operations. Demand for procurement, supply chain, and logistics professionals remained consistent, though senior-level movement was limited. Salaries saw modest increases at mid-junior levels, while senior professionals experienced more substantial rises, largely in line with inflation.

Construction

Most in demand positions for 2025: Quantity Surveyors, Electrical Project Managers, Mechanical, Project Managers, Site Engineers and Project Managers.

The construction sector continues to grapple with labour shortages, particularly in engineering, project management, and quantity surveying. Government-backed infrastructure investments and housing targets – 500,000 new homes over the next decade – are driving strong hiring demand, keeping salaries competitive. Irish construction firms are also delivering major projects across Europe, adding to the need for skilled professionals.

Labour shortages persist in both trades and professional roles, exacerbated by gaps in the education system and housing challenges that limit overseas recruitment. At the same time, demand for specialist skills is rising, particularly in renewable energy and infrastructure, as Ireland accelerates retrofitting, EV charging projects, and upgrades to essential services. These trends continue to shape hiring needs and salary growth across the sector.

Legal, risk & compliance

Most in demand positions for 2025: Construction Lawyers, Energy Lawyers and Employment Lawyers.

Ireland’s Legal & Compliance market remained stable in 2024, with rising demand for contract roles in data protection, DORA compliance, AI, and corporate governance, while most hires remained permanent. Private practice hiring was strong early in the year, while in-house legal roles grew later. Competition remains intense in fintech, intellectual property, energy, and employment law, though demand for corporate and banking lawyers has dipped.

A shortage of niche expertise has extended hiring timelines as firms prioritise both technical skills and cultural fit. Salaries have largely remained flat, with new legal graduates increasing competition and budget constraints limiting pay growth. While regulatory workloads have risen, this has not consistently led to higher salaries. In 2025, demand for specialised legal skills may drive salary growth in key areas, while firms focus on upskilling, flexible work, and employer branding to attract top talent.

Executive

Most in demand positions for 2025: CFO, CISO, CTO and COO.

The Executive Search market in Ireland remained strong in 2024, with high demand for senior roles, particularly in retail and specialised technology positions such as CTOs and CISOs. The demand for strong CFOs remains high, given the need for strategic financial leadership amid economic uncertainties, including global trade tensions, to ensure financial resilience. Additionally, the role of the Chief Information Security Officer (CISO) has gained prominence.

With the increasing sophistication of cyber threats, companies are prioritising cybersecurity at the executive level to protect sensitive data and maintain stakeholder trust. However, hiring remains slow, often taking 3–6 months, prompting companies to expand their search internationally to address skill shortages. This trend is expected to continue in 2025 as firms compete for top-tier talent. Executive salaries remain competitive, with candidates prioritising total compensation packages, including bonuses and long-term incentives. Customised remuneration structures are set to remain key in attracting senior leaders.

Human Resources

Most in demand positions for 2025: HR Manager, HR Generalist, TA/HR coordinator at contract level.

The HR talent market slowed significantly in 2024, particularly within multinationals, with Talent Acquisition roles hit hardest due to over-hiring in 2022. Most opportunities have been contract-based at the TA coordinator level, and candidates are cautious in considering new roles. Hiring is expected to gradually recover in 2025 as the market stabilises. HR salaries, which rose in 2022–2023, have now levelled off, though candidates at mid-senior levels increasingly prioritise benefits such as pensions and healthcare alongside base pay.

Sales & Marketing

Most in demand positions for 2025: Communications Manager, Digital Marketing Specialist and Event Executive.

The Sales & Marketing market in Ireland leaned toward permanent roles in 2024, with mid-senior hiring dominating while executive-level opportunities declined. Competition remained strong, with counteroffers common as candidates prioritised flexibility, pay, and bonuses. Dublin retained a deep talent pool, while Cork faced shortages. Job flow dropped from 2023 as economic caution slowed hiring, leading to lengthier recruitment processes. Salaries remained stable and are expected to hold steady in 2025, with firms focusing on strategic talent retention amid continued market uncertainty.

Multilingual

Most in demand positions for 2025: Customer Service Advisor, Account Manager, AML/Compliance Analyst, Customer Onboarding Specialist.

 The multilingual hiring market in Ireland for 2025 is expected to see continued demand for German, Nordic languages (including Finnish and Danish), Portuguese, Dutch, Turkish, Arabic, and Asian languages such as Mandarin and Thai. While Inside Sales roles within Big Tech have slowed, employers are increasingly seeking language talent for Customer Service, AML, and KYC positions, reflecting a broader diversification of multilingual career opportunities.

This shift highlights the growing importance of language skills beyond sales, as companies prioritise customer experience and regulatory compliance functions.  However, attracting multilingual talent to Ireland – particularly to key hubs like Dublin and Cork – remains a challenge, with housing availability and affordability posing an obstacle for relocation.

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Salaries to remain flat in 2024

The ‘great resignation’ becomes the ‘big stay’ in 2024 as just 36% of professionals consider exploring new job opportunities

The Morgan McKinley 2024 Irish Salary Guide – Ireland’s most comprehensive analysis of current pay across a range of professions and sectors – has been published.

Morgan McKinley, the Irish-owned global talent services company, anticipates that salaries in most professional areas will see little to no significant change into 2024, closely mirroring an expected inflation rate of around 3%, following also from significant pay increases in recent years.

Nevertheless, there will be notable deviations from this trend in specialised positions and industries facing skills shortages. In these sectors, professionals with significantly in-demand skills could potentially expect salary increases of up to 15%, underscoring the strong competition organisations will encounter as they seek to attract top talent in these areas.

Detailed commentary follows below including key sectoral considerations and currently most in-demand skills/ roles:

Trayc Keevans, Global FDI Director, Morgan McKinley Ireland, said:

“The professional job market in Ireland faced significant challenges in 2023, characterised by fierce competition, talent migration, rising salaries, evolving job seeker dynamics, skills shortages, changing work preferences, and a growing emphasis on transversal skills.

“Morgan McKinley’s Global Hiring Realities Survey, conducted across eight global locations, including Ireland, Australia, Canada, China, Hong Kong, Japan, Singapore, and the UK, highlighted the intense competition in the job market. A staggering 80% of Irish organisations encountered hiring challenges in 2023, creating difficulties in retaining existing employees. A remarkable 72% of Irish employers admitted losing staff within the past six months, mainly due to struggles in competing with pay and benefits offered by competitors and unmet employee expectations regarding more flexible working arrangements.

“The loss of staff occurred despite 44% of Irish employers increasing salaries within their organisations over the past six months. Ireland stood out as second only to the UK in terms of salary increases. In addition, 71% of surveyed employers provided some form of company bonus in 2023, with only China and Singapore reporting higher percentages in this regard. The survey also revealed that 69% of hiring managers plan to raise salary offers for specific hard-to-fill roles in 2024.

“Skills shortages have been a significant challenge, with 40% of employers struggling to find candidates with the right skills for their job openings. To address this, organisations are rethinking their hiring strategies and exploring alternative methods for identifying and nurturing required talent. Close to 80% of employers believe that offering flexible working arrangements is the most effective strategy for attracting new talent, a sentiment shared with Canada. This is closely followed by the significance of providing career advancement prospects, offering competitive salaries, and evaluating prospective employees based on their potential rather than solely their experience.

“In 2023, the hybrid working model remained prevalent. However, over a quarter of employers acknowledged losing out on potential hires due to their inability to meet remote and hybrid work expectations. 42% of employers are now encouraging their employees in Ireland to return to the office more frequently. The main motivations behind this shift include enhancing employee collaboration, strengthening company culture, and boosting overall performance. Only 8% of employees expressed a desire to work in the office five days a week. In contrast, 50% of surveyed Irish employees are open to accepting a reduced salary in exchange for the work flexibility they desire.

“As we look ahead to the next year, the salary landscape for most professional fields appears set to remain stable, tracking closely with an estimated inflation rate of around 3%. However, it’s important to recognise that this status quo will not apply across all professional jobs. In certain niche positions and industries facing severe skills shortages, we can expect notable deviations from this standard. These sectors will diverge from the broader trend, presenting more pronounced salary increases of up to 15% for professionals with highly sought-after skills, primarily in pockets of Technology, Engineering, Construction, Life Sciences, and Financial Services sectors.

“Furthermore, we’re observing a notable shift in the job-seeking behaviour of Irish professionals, indicating that the ‘Great Resignation’, a term coined to describe the surge in employees leaving their jobs, may be subsiding. Our research reveals that only 36% of professionals surveyed are planning to actively explore new employment opportunities within the next six months. This marks a 17% decline from the previous year, reflecting a change in the mindset of professionals. We are witnessing a shift towards more cautious decision-making, particularly as professionals assess the job market amidst ongoing economic uncertainties.

“We anticipate that employers’ focus for hiring in 2024 will be two-fold. Companies will continue to adopt a discerning approach to recruitment, carefully assessing the necessity of each replacement before making hiring decisions and ensuring that such hires are productive and add value to the bottom line. Secondly, we expect leaders to concentrate on retaining their talent and matching the expectations of their employees around flexible working practices, career advancement opportunities, and a supportive company culture.”

Sectoral Highlights:

Accounting and Finance

Most in demand positions for 2024: Newly Qualified Accountant in Big 4/Top 10 Firms, Senior Accountant, Tax Accountant, Tax Manager, Finance Business Partner/ FP&A Manager.

The Accounting and Finance sector in Ireland encountered numerous challenges throughout 2023. Despite the constraints, organisations continued to hire, showing a preference for temporary roles over permanent and fixed-term contracts. However, there were fewer available positions compared to previous years when hiring reached unprecedented levels.

Indications towards the latter end of 2023, show optimistic plans to return to hiring activities across a wide range of sectors. Senior professionals can expect their salaries to remain relatively stable, primarily owing to the limited availability of job openings and reduced competitive pressure. Conversely, individuals within the range of Newly Qualified to 3 years PQE can look forward to increased compensation, driven by a talent deficit exacerbated by emigration. These patterns are expected to persist into 2024.

There will be more of a focus on hiring professionals with strong transversal skills with an emphasis on stakeholder management as navigating a hybrid working environment continues. Additionally, those accounting and finance professionals skilled in Big Data analytics, data management and Big Data reporting will be in highest demand in 2024 as transactional work will continue to become automated.

Accountants will play a wider role in developing and implementing ESG reporting strategies and we expect to see greater demand for accountants for ESG reporting through 2024.

Banking and Financial Services

Most in demand positions for 2024: Pension administrators, Claims Specialists, Risk Managers, Insurance Commercial Brokers, Insurance Underwriters, Treasury Managers and Treasury Analysts.

Throughout 2023, the Banking and Financial Services sector remained active, characterised by a significant surge in contract hiring. Skill shortages, especially in roles requiring in-demand expertise and experience, made professionals with relevant qualifications particularly sought after. However, the reduction in new roles in the market throughout 2023 has shifted the balance of power toward hiring companies.

Growing risks in climate change will continue to drive increased demand for claims and underwriting professionals throughout 2024 with claims administrators, claims assessors, claims handlers and insurance underwriters all anticipated to be in high demand.

Salaries within the sector have remained stable due to the reduction in available positions, which has lessened the competitive hiring landscape. This change implies that job seekers may need to reassess their salary expectations when seeking new opportunities.

Technology

Most in demand positions for 2024: Software Developer, Web Developer, DevOps/Cloud Engineer, Infrastructure Engineer, QA Engineer/ SDET, Cloud Infrastructure Engineer, Information Security Specialist, Operation Technology Security Specialist, Security Architect, Solutions Architect, Enterprise Architect, Data Analyst, Data Scientist and Data Engineer.

The Technology market witnessed a temporary softening in the middle of 2023, which led to a scarcity of roles. However, there was an overall increase in contract opportunities as organisations adopted a cautious yet optimistic approach. The sentiment among organisations is generally positive, with signs that hiring momentum is on the horizon in 2024.

The market indicates there will be a persistent need for cybersecurity professionals, particularly as the deadline for Member States to comply with the updated NIS 2 Directive approaches in October 2024. The demand for cybersecurity experts is rising, leading to a rapid expansion in the talent pool, which has grown by 35% year on year.

In 2023, tech salaries in Ireland saw modest increases, impacted by inflation and a talent shortage, resulting in a supply and demand effect. Counteroffers became more common, with employers offering top-performing professionals salary hikes of 15-20% to retain them. For 2024, salary increases are expected to stabilise in most fields as tech talent increasingly shows a willingness to accept reduced pay in exchange for fully remote work options. It’s worth noting that the technology sector remains the most open to remote work among employers.

Legal, Risk, and Compliance

Most in demand positions for 2024: Corporate Lawyer, Energy Lawyers, Data Protection/Privacy Lawyer, Employment Lawyer, Investment Funds Lawyer, Company Secretary, Risk Analyst, Claims Handler, Risk Manager, Model Risk Analyst, Compliance Manager, Chief Compliance Officer, Compliance Regulatory Officer, and Financial Crime Officer.

In 2023, the Legal, Risk, and Compliance sectors encountered talent shortages and struggled with prolonged hiring processes focused on specific skill sets and experience.

Global geopolitical factors such as the war in Ukraine and escalating conflict in Israel-Gaza has had a knock-on impact on the requirement for legal services as corporate lawyers will continue to be in high demand in 2024 to navigate business challenges such as supply chain/logistics disruptions, economic volatility caused by inflationary pressures, suspending of operations in certain countries etc.

Additionally, the EU’s commitment to climate neutrality by 2050 and global efforts to decarbonise the economy are creating opportunities for energy lawyers, making them highly sought after in 2024.

Looking ahead to 2024, there’s optimism for improved economic conditions and more flexible budget constraints, potentially leading to increased hiring. However, it is expected that salaries will remain unchanged, as post-COVID raises have already been incorporated into compensation packages.

Life Sciences and Engineering

Most in demand positions for 2024: Quantity Surveyor, Site Engineer, Construction Project Manager, Resident Engineer / Project Supervisor, Health & Safety Officer, Process Engineer, Project Engineer, Automation Engineer, CQV Engineer, QA Specialist, Qualified Person (QP), Validation Engineer, QC Analyst, Laboratory Manager, and R&D Engineer.

Ireland remains an attractive location for biopharma investments, with a significant increase in Life Sciences research and development investments over the past 11 years. Multinationals like BD, Siemens Healthineers, Boston Scientific, Thermo Fisher Scientific, and Meissner Corporation have made investments in this sector in 2023, with further growth anticipated in permanent and contract hiring, especially in contract roles.

The Engineering sector has seen consistent hiring, with a growing demand for senior-level positions to build a talent base before expanding junior roles. Increased investment in manufacturing and environmental sectors has boosted demand for professionals in these areas. Energy and Sustainability Engineers, with skills in LEAN and BREEAM, will be highly sought after in 2024 and beyond.

The return of the Irish diaspora and the influx of international talent, primarily from South Africa and India, are expected to continue in 2024, with a focus on planning and scheduling skills for large projects.

Skills shortages, particularly in automation, have posed hiring challenges. Electrical engineers have seen substantial salary increases (10%) due to their scarcity in the market. Salaries for construction professionals are expected to remain high in 2024 due to ongoing skills shortages, creating significant opportunities for recent graduates. For instance, newly qualified CAD designers could command €28k, fresh civil engineering graduates may secure €36k, and inexperienced Quantity Surveyors could earn a €40k salary. These graduate salaries are competing very favourably with other sectors which typically dictated the higher end of earning potential for new graduate salaries such as technology and investment management within financial services.

Supply Chain and Procurement

Most in demand positions for 2024: Planners, Procurement/Buyers, and Supply Chain Project Manager.

Recruitment in the supply chain and procurement sector maintained a consistent momentum throughout 2023, with a focus on permanent positions. However, a limited supply of talent led organisations to consider contractors to bridge immediate skills gaps. The majority of supply chain professionals typically come from outside Ireland, and the increased cost of living in the country has restricted the flow of professionals relocating for work.

The biggest skills gap going into 2024 exists in lower-level operator roles within the food and beverage industry where the existing workforce falls short of the industry’s demands. This discrepancy can be attributed to less favourable working conditions and comparatively lower remuneration when contrasted with alternative sectors and this is likely to be addressed in the coming year.

Demand in 2024 will also be high for supervisors in key sectors such as pharmaceuticals, medical devices, and food and beverage and we expect to see some salary inflation in this position.

While salary experienced an initial increase in early 2023, the evolving market dynamics resulted in stabilised rates. Professionals with niche expertise can still command salary increases when changing roles, but overall, salaries are predicted to be flat through 2024.

Business Support

Most in demand positions for 2024: Executive Assistant, Office Manager, Graduates, Office Administrator and Receptionist

Business support hiring in Ireland exhibited a significant uptick in long-term temporary roles, often managed through agencies. This trend reflects organisations with headcount constraints that still need to complete essential tasks. However, permanent recruitment faced challenges, with many companies exercising caution. The competition for experienced talent intensified, leading to longer interview processes.

It is anticipated that permanent salaries are unlikely to see significant changes in 2024. However, temporary and contract professionals may command higher hourly/ daily rates. This shift is driven by organisations showing more flexibility and offering competitive rates to attract short-term talent.

Executive Roles

Most in demand positions for 2024: CEO, COO, CFO, CTO and SVP Quality and in more niche positions such as Chief Growth Officer, Head of Sustainability/ESG, Chief Revenue Officer, Chief Transformation Officer, Chief Strategy Officer and Chief Digital Officer.

In 2023, the executive job market displayed resilience despite fluctuations in demand across different sectors. The financial services sector maintained a strong demand for leaders with regulatory expertise and technological proficiency. Executives, while open to new opportunities, often preferred to retain their current positions, leading to extended negotiation periods and more frequent counteroffers.

The demands for hiring Executives in the new post pandemic world has expanded immeasurably, with C-Suite professionals now being hired for growth against a backdrop of digital transformation, agenda to strike a DEI balance and a requirement for a track record in leading remote teams. All of this coupled with an organisational need to be sustainable and profitable.

In 2024, we expect to see a continuation of the trend of organisations leaning more on data and analytics to identify the right leadership talent which resulted in greater collaboration with Executive Search Providers and availing of deep market mapping services.

HR

Most in demand Positions for 2024: HR Business Partner, HR Generalist, HR Administrator, HR Data analyst, Benefits Analyst and Rewards Manager.

In the HR field, the recruitment market faced challenges in the first half of 2023 due to an oversupply of senior talent acquisition professionals, particularly influenced by developments in Tech in the previous year. However, in 2024, HR professionals are expected to take on an expanded role, focusing on enhancing the overall employee experience, accommodating various work models (hybrid/ remote), and supporting employee development and well-being. This shift will require the presence of Strategic HR Business Partners to drive ethical growth and HR administrators to manage increased legislative and GDPR responsibilities. Salaries for HR professionals remained relatively stable, and this trend is anticipated to continue in 2024.

Multilingual

Most in demand Multilingual positions for 2024: Sales Development Representative, Account Executive, Customer Service Representative, Business Development Representative.

The multilingual job market remains adaptable to economic conditions and industry fluctuations, with increased demand in financial services and pharmaceutical sectors expected in 2024. Despite a marginal decrease in demand from the Tech sector in 2023, remote work and hybrid models continue to influence hiring decisions for this talent cohort. Multilingual candidates express a preference for flexible work options when choosing employers.

Attractive compensation and benefits play a significant role in attracting and retaining top talent in this segment.  We expect to see a slight uptick in salaries for Sales and Service-related positions in 2024, especially for languages in high demand, such as German, Dutch, and the Nordic languages.

Projects and Change

Most in demand positions for 2024: Project Managers – IT & Business, Programme Managers, Transformation Specialists, ERP PM & Programme and PMOs – Analysts, Leads, Managers.

In 2024, there is a strong demand for Projects, Strategy, and Change professionals to support various industry needs, including Tech Transformation, Automation, ERP System Upgrades, Leadership, Cultural Change, Cybersecurity, Operational Risk, Resilience, and Outsourcing Advisory.

These professionals have shown a growing preference for contract employment, a trend expected to continue through 2024 due to the anticipated demand for their skills in both the public and private sectors. Contracting offers financial advantages and flexibility, making it more appealing than permanent roles in this field. It enables organisations to manage fluctuations in business needs while accessing new capabilities.

Salary increases are the primary motivators for project and change professionals to change employers. While daily rates for Mid to Senior-level Project Managers and Business Analysts remained stable in 2023, transformation roles experienced salary boosts, a trend likely to continue into 2024.

Sales and Marketing

Most in demand positions for 2024: Sales Representative, Technical Sales Representative, Area Sales Manager, Business Development Manager, Sales Manager, Communications Manager, Brand Manager, Content Strategists, Digital Marketing Specialist/ Manager, Marketing Executive/Manager and Head of Marketing, Research Analyst

In 2023, Sales and Marketing recruitment remained stable, with a slight increase in the junior market. Multinationals hired less experienced sales talent and trained them to adapt to rapidly changing markets. However, enterprise sales professionals still preferred candidates with relevant experience.

In 2024, the focus is expected to shift toward sales performance, with a proven track record becoming a critical factor in hiring decisions. Market Research Analysts will also be in high demand as companies seek more insights for strategic growth.

Brand Managers with skills in design, social media marketing, digital marketing, content marketing, and market research will continue to be sought after in 2024. Content strategists are also expected to see increased demand as they help drive inbound traffic and foster customer loyalty, contributing to organisational growth. Value-based hiring will be a key consideration for all marketing hires in 2024.

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