Growth in manufacturing helps to push up salaries, Brightwater survey reports
A GROWTH in manufacturing here has boosted salaries for some jobs in the sector by nearly 30% with Mid-ulster firms offering the best rates of pay, according to a survey today.
There has been an increase of between 5% and 16% for most salaries across engineering and manufacturing, according to the latest figures from Brightwater’s annual salary survey.
In comparison, other sectors were seeing a small rise in salaries of around 2%.
Manufacturing salary growth is good news for the sector, after aerospace giant Bombardier last week announced 490 job losses at its plants in Northern Ireland.
Brightwater said that the demand for skilled workers in manufacturing reflected growth of around three times the rate of the rest of the UK.
Mid-ulster offered the highest-paid jobs in the sector thanks to the presence of a cluster of successful firms like CDE Global and Terex.
Across the board, Brightwater said salaries were climbing by between 2% and 5% in other sectors and disciplines like finance, HR, supply chain and accountancy.
Regional director Cathal O Donnell said: “The recruitment sector has always been a strong barometer of social and economic trends and this year’s salary survey continues to reflect wider issues and predict future developments. Understandably, Brexit remains high on the agenda for firms as they look ahead to the economic landscape.
“Whilst uncertainty surrounding a deal and the ongoing impasse at Stormont may slow things somewhat for the first quarter of 2019, the signs are that Northern Ireland will become a far more attractive place to do business which is good news for jobs, and we are already seeing considerable positive movement, particularly within the within back office, shared service centres, engineering and legal sectors.
“Belfast’s reputation for centres of excellence has done much for the economic landscape and has reinforced the region as a highly desirable place for foreign direct investment.”
Strong barometer: Cathal O Donnell