Professional pay is likely to rise by between 5% and 10% within the next year, as more than 80% of staff are considering a career move in the next six months, according to Morgan McKinley.

The 2022 Irish Salary Guide anticipates that there could be increases ranging from 15% to 20% for certain niche skills.

Upward pressure on salaries has been driven by the reduction in mobility of international talent, according to the employment agency, and the corresponding demand for individuals already in location. 

Global FDI director Tracy Keevans (pictured) said: “We’re currently seeing the most demanding employment markets of our time. The ‘Great Resignation’ of the past year appears to be still in full swing. As a result, there is a constant misalignment between the supply and demand for employees.

"We’re experiencing the return of counter offers because there is a strong demand to fill roles. For some organisations, this is an unparalleled threat, creating organisational challenges around skillsets and resources, and affecting everything from quality of work and time-to-completion to bottom-line revenue.

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“For others, it’s a golden opportunity to secure accomplished talent that will add value for years to come. Consequently, organisations are under incredible pressure to adapt their leadership, management, and work practices."

Keevans added that highest demand for skills will come in sectors such as digital technology, especially in cyber-security, pharma and biopharmaceuticals, engineering, and financial services.

The full report, with complete remuneration tables broken down by sector, is available here.