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Jump in retail salaries predicted for next year

Fashion and other non-food retailers in Ireland are increasing salaries by 10%-12% in a bid to secure and retain top-tier talent, according to the Excel Recruitment 2024 Salary Guide.

Excel said the pay rises are putting a financial squeeze on the budgets of smaller retailers.

According to the guide, some roles in the retail sector could see a sizeable boost of up to €6,000 in salaries heading into the New Year.

The study found that the non-food and fashion retail sectors are also offering reduced working hours, flexible weekend rotations and increased holidays.

“The high cost of living has made it imperative for businesses to offer competitive financial packages,” said Aislinn Lea, Director of Non-Food and Fashion Retail at Excel.

“Smaller enterprises, in particular, face the challenge of managing these added costs in contrast to their larger counterparts that have more resources at their disposal.”

“It’s the smaller retailers who are struggling the most in attracting and retaining junior talent such as sales assistants, supervisors, and managers,” Ms Lea said.

“To address this issue, employers need to educate potential candidates about the avenues for growth and career development within both the company and the broader industry,” she added.

According to the salary guide, a team leader/supervisor in 2023 who might have been earning between €23,000 and €24,000 could expect to earn between €28,000 and €30,000 moving into 2024.

A team leader/supervisor in a large sports retail store who received a salary of between €32,000 to €36,000 in 2023 could earn up to €39,000 in the year ahead.

Article Source – Jump in retail salaries predicted for next year – RTE

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