A look at the salary ranges for tax professionals working in Ireland in 2016.
|Tax Director||5+||75,000 - 95,000||70,000 - 85,000||50,000 - 65,000||50,000 - 65,000|
|Tax Manager||0 - 3||45,000 - 55,000||40,000 - 45,000||40,000 - 45,000||40,000 - 45,000|
|3 - 5||55,000 - 65,000||45,000 - 55,000||45,000 - 50,000||45,000 - 50,000|
|5+||65,000 - 75,000||55,000 - 65,000||50,000 - 60,000||50,000 - 60,000|
|Tax Senior||5+||35,000 - 50,000||30,000 - 40,000||30,000 - 38,000||30,000 - 38,000|
|Graduate/ Tax Trainee||0 - 3||21,000 - 30,000||16,000 - 20,000||15,000 - 20,000||15,000 - 20,000|
|Tax Director||5+||85,000 -125,000||85,000 - 120,000||80,000 - 110,000||80,000 - 110,000|
|Tax Manager||0 - 3||55,000 - 65,000||50,000 - 55,000||50,000 - 55,000||50,000 - 55,000|
|3 - 5||65,000 - 85,000||55,000 - 65,000||55,000 - 65,000||55,000 - 62,000|
|5+||85,000 - 95,000||65,000 - 80,000||65,000 - 75,000||62,000 - 75,000|
|Tax Senior||3 - 5||40,000 - 55,000||35,000 - 45,000||35,000 - 42,000||35,000 - 42,000|
|Tax Trainee||0 - 3||21,000 - 40,000||20,000 - 30,000||20,000 - 28,000||20,000 - 28,000|
|Pension||Defined Contribution 3% - 8% employer contribution||Defined Contribution 3% - 7% employer contribution|
|Healthcare||Fully paid for employee and dependants||Fully paid for employee only|
|Bonus||8% - 30%||Not offered (non-industry standard)|
|Annual Leave||22-24 days||20-23 days|
|Life Assurance||3 - 4 times basic salary||3 - 4 times basic salary|
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The tax employment market has experienced shortages in the supply of talent over the last year. There was a clear upturn in the number of opportunities for tax professionals, building on the progress experienced in 2014. Expertise in global mobility, personal tax, employment tax and capital taxes continues to be in demand as well as in the core areas of VAT and corporate tax.
As Foreign Direct Investment rises and the increased global interest in OECD led BEPS (Base Erosion and Profit Shifting) projects, the number of companies seeking internal tax experts has increased considerably during 2015. This has led to a significant amount of senior level recruitment within Industry, in particular at Group Tax Manager, Head of Tax and Tax Director levels.
These growth factors have also led to increased pressure on Practices to retain expertise to accommodate a greater volume of business. There is a continuing talent shortage at lower and middle levels of management (AITI qualified with two or three years’ experience) as a result of the reduced trainee recruitment in 2009-2011. Practices are planning to increase headcount over the coming years, such plans have led to Tax Seniors, Managers and Senior Managers being in high demand.
Some tax professionals are looking to grow their experience by moving from Practice to Industry, not necessarily due to higher salaries, but for the opportunity to develop their career. Practices have responded by offering clear paths for progression, higher bonuses and improved work-life balance for tax specialists from mid-manager level and above, while improving their employee value proposition.
In order to retain tax specialists, companies will probably need to offer increases in the order of 5-10%. We anticipate significant activity in the market in 2016.
The AITI Chartered Tax advisor has continued to be the most in demand qualification for tax professionals. For in-house roles, the accounting qualification (ACA or ACCA) is also seen to be advantageous.
Organisations will have to be innovative, open minded and convincing to attract and retain tax professionals in 2016.