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Ireland's booming Funds sector - salary & job trends

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The Irish Funds sector has experienced another fruitful 12 months with more job opportunities being created in Dublin and across Ireland resulting in a desirable increase in Funds salaries.

Cpl Finance forecast that Ireland’s Funds sector is set to increase by up to 10% in 2019. This surge in growth is driven by the increasing dominance of the Irish Funds market on a global playing field along with Brexit enticing more global financial institutions to Irish shores.

On average, salaries have increased by 5-6% within the sector but some specialities like Risk, Compliance and Private Equity have increased by up to 15%.

The impact of Brexit on Funds jobs in Dublin

The uncertainty of the UK market remains one of the main factors driving upward salaries and new funds opportunities in Ireland.

Brexit has made Ireland an attractive international base being somewhat immune to immigration issues and offering passporting opportunities to a single EU market. All helping with the upward trend in funds and asset management salaries.

We’ve seen several of the world’s leading investment managers and asset management companies opening “MANCOs” in Dublin which has created increased competition for talent, particularly within Risk and Compliance.

Growth isn’t limited to the capital however, with up to 30% of employment in international funds companies now outside of the dominant Dublin region.

Significant investment has been experienced nationwide with Northern Trust and Fundrock expanding in Limerick, DMS in Tipperary, BNP Paribas in Galway and BNY, Citco and Alter Domus in Cork. While salaries in these regions tend to be 15-25% lower, depending on the county, this is compensated for by the lower cost of living and greater availability of housing.

Fund Administration

In the ever-prosperous Fund Administration space the following roles continue to be in massive demand:

The oversight model is becoming more common in Dublin although some firms are now looking at re-engineering back to the day to day operations in Dublin.

What benefits are on offer in 2019?

In order to attract and retain talent in this competitive landscape, many companies have restructured their benefits packages with most firms now offering:

  • Enticing pensions

  • Healthcare

  • Bonuses

  • Profit shares (VP and above)

  • Car allowances (VP and above)

Additionally, companies are willing to invest heavily in training to facilitate the upskilling of professionals who may be transitioning from other financial services backgrounds.

The Funds industry in Ireland is going through such an exciting phase with lots of new entrants to the market and the continued evolution of roles due to technology and new regulations.

As firms are struggling to attract the best talent, it’s a good time to be involved in the sector as new initiatives and benefits continue to be introduced to help companies stand out from competitors.

Cpl Finance – Ireland’s leading Financial Services Recruitment Team

Cpl Finance is the leading FS Recruitment team in Ireland. Our team of 20 highly skilled recruitment consultants specialise across all leading areas of Finance including Funds, Asset Management and Banking with clients ranging from Investment Managers, Banks, Consulting Firms, Insurers, Law Firms and Fund Services Providers.

This Thursday, May 23rd, the Cpl Funds team will be at the Annual Global Funds Conference 2019 which Cpl Finance are delighted to sponsor again this year.

The theme this year is “The Future of Funds – Evolution or Revolution”, which will look at the current challenges and opportunities facing this buoyant industry.

If you’re interested in learning more about Funds job opportunities in Ireland, get in touch: [email protected]