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Financial Services 2022 Salary Guide

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With a strong background in recruiting in the financial services sector, Rena Weld heads up our financial services recruitment team. Her knowledge of the market means we know exactly what employers need when recruiting financial services professionals.

Free download: 2022 Financial Services Salary Guide


• Growth of Fintech and reduction in customer interest rates.
• Changes to traditional banking.
• Mobility and Digitalisation across all areas of financial services.
• Allocation of resources to fight cybercrime and increase cybersecurity.
• Increasing regulations and need for control and governance.
• Green Financing and ESG factors to impact all areas after COP26.


Funds and Asset Management: The funds and asset management industry is major in Ireland and currently supports over 34,000 jobs in the country. Although Covid-19 and the uncertainties which accompany it will continue somewhat into the new year, the funds and asset management industry is experiencing confident growth. A major trend we have seen in this area, and which is set to be even more of a priority this year, is sustainable finance and investing and ESG factors. Stakeholders are setting expectations for transparency around investors’ portfolio decisions.

Fintech: With an increasing requirement for digital banking and payments, Fintech companies are
meeting the evolving demands of consumers and businesses. The sector has gained more and more confidence from its target audience and is a growing competitor in financial services by offering consumers interest-free payment installments. Fintech has benefited from green financing initiatives. Ireland is set to see growth in this industry with several large tech deals set for completion over the next few months.

Insurance: Insurance this year is facing many challenges and changes such as rising inflation, flat interest rates, tax reform proposals (which may impact M&A activity), increasing technologies, digitalisation, and cybersecurity, CBI changes around differential pricing as well as lingering concerns about COVID-19 variants. However, the overall outlook for 2022 is positive and many experts feel that if the leaders focus on streamlining processes, automation, customer experience, and talent attraction and retention, it will result in significant growth for the insurance industry in Ireland.

Banking: Continuous change has been seen in the industry after two exits from the market and a trend towards branch closures. Watch the market for ongoing change in 2022 and the impact that these changes will have. The industry may lose key employees due to poaching from other areas of financial services.

Credit Unions: Although credit unions continue to face challenges relating to technological changes, savings and loans imbalances, new entrants into the financial services market, and climate change activity, the outlook for credit unions seems bright. There are positive trends in lending, reserves, and savings and experts advise that credit unions will maintain their sustainability by evolving their business models and ensuring strong risk management and governance.


• Risk / Compliance / Financial Crimes / AML.
• Project managers, change management, process analyst, business analyst etc.
• Roles that support control, regulations, governance and automation / technology improvement.
• Software development, data analytics, cyber security and AI / robotics.
• Client Services, Relationship Management and Transfer Agency.
• Custody, Corporate Trust and Lending.
• ESG roles expected to see some growth.
• Fund Accounting and Private Equity.
• Financial and Regulatory Reporting jobs.


2022 will see the high recruitment volume continue in Ireland, with permanent jobs on the rise. Attracting skilled professionals has been a challenge for many organisations for the past number of months and this is not set to change in 2022. Key reasons that employers are hiring in 2022 include rebuilding teams from 2020, peak demands in business as well as implementation of new strategies, demands and regulations.


• Attracting talent with the right skill set.
• Overall talent shortage.
• Extremely competitive market and competition from other employers.
• Inflation rates and increases in salary expectations from candidates.
• Retaining talent.
• Trialling and maintaining flexible, remote, and hybrid working models once all employee working
models are established.
• Talent attraction and retention challenges will continue into 2022.


Competitive Market and Skills Shortage: After another whirlwind year, we see the economy charging ahead and recruitment at an all-time high. Companies are restarting projects and ramping up business and are hiring employees to meet this workload and so the war for talent has heated up. With an increase in jobs and the lingering impact of the “Great Resignation”, the market is extremely competitive. Strategic sourcing and targeting passive candidates will be a key focus as well and increasing brand image and awareness.

Salary Increases: With increasing demand for skilled employees as well as demand for new skill sets in the market, we are seeing a shortage of skilled professionals and increasingly competitive market which are in turn driving up salaries. Inflation is also increasing salary expectations. Be prepared to increase salary and /or perks and benefits to attract the right talent.

Flexibility, WFH, and Hybrid: 2022 will continue to see WFH and hybrid working models with an expectation that the latter will increase towards the second half of the year. Many employees are still solely working remotely so this year we expect that we will really see how hybrid models will work long-term. WFH and hybrid have become a non-negotiable for many employees and companies who
can offer this as well as competitive salaries and benefits will reap the benefits this year.

Retention strategies: Given the competitive market as well as employee turnover, employers will need to focus on retaining and developing current talent. Key employees must not be forgotten, and employers must look to implement strong retention strategies to take into account the following: package offered to employees including salary, perks, and benefits, career opportunities, training and development and succession planning, flexibility around working conditions, management, company culture, progressive and innovative company, company brand image, technology, automation, and tools.

Diversity, Equity, and Inclusion: Many companies have already seen the positive impact of setting and measuring DEI goals and it is expected that many more will follow suit in 2022. Budget may need to be allocated to optimise this area and a dedicated resource put in place to ensure DEI goals are being met, ensuring strong risk management and governance.

Free download: 2022 Financial Services Salary Guide

Click here to connect with Rena Weld on LinkedIn