Employees set for pay rises of 1% to 2.5%, finds survey

Employees of Irish firms can expect pay rises of 1% to 2.5% this year, according to Mercer’s Salary Movement Snapshot which surveyed about 150 companies.

According to the report, which surveyed Irish companies in February, 20% of businesses in the life sciences sector can expect a pay rise this year. Other sectors set for pay hikes include consumer goods (17%), hi-tech (13%), finance/banking (10%), insurance (8%), and energy (5%), said Mercer.

Noel O’Connor, senior reward consultant with Mercer, said: “Businesses in Ireland are still keeping a tight rein on salary increases.