Galwegians anticipating increase in salary this year
Over six out of every workers in Galway expect to receive a salary raise this year, according to research conducted by a leading recruitment agency.
Additionally, eight out of ten Galway workers would be willing to change jobs for a salary increase of 20% or less – and 58% of people in the county believe their salary fairly reflects their current role.
The research also showed that 85% of people in Galway believe they could find a new job in three months or less. This is ahead of the national average of 70% of people who would be confident of securing a new role in that same period.
And only 42% of Galway workers say they fear for their job security and less than half (46%) would consider a pay cut if their job was at risk.
This data was revealed in the annual FRS Recruitment Employment Insights Report, which has been conducted by FRS Recruitment every year since 2009 to help gauge the outlook for the employment market from the perspective of employees and employers alike. A total of 1,987 people took part this year.
Half of all Galway employees (50%) have also been asked to spend more days in the office over the last year. Nationally, as many as two in every three employees (65%) have been asked to do the same.
When it comes to Galway employers, eight out of ten are concerned about the current economic outlook, which is slightly ahead of the national average (72%).
A further 64% of local employers also say they are less likely to hire this year if the US imposes additional tariffs that apply to Ireland.
Concerns about the economy are also shared by the wider public in Galway, with more than six out of ten (62%) believing the economy will only remain at full employment for another year or less.
Eight out of ten employers in Galway also acknowledge they have had difficulty securing new talent this year, while four out of ten Galway based employers also say more employees have been looking to change jobs in the last twelve months.
Speaking about the research, Lynne McCormack, General Manager of FRS Recruitment highlighted the significant number of people in Galway and around the country who expect to receive a salary bump this year.
“This isn’t a new development, as there has been pressure on salaries in Galway over several years now in light of the rising cost of living and the general health of the economy,” she said.
“A lot of Galway people feel secure in their jobs. Most also believe that if they were to lose their job in the morning, they could quickly source an alternative. These are some of the factors that are giving them the confidence to expect better remuneration,” she added.