Jobs with the Best Salary Prospects
In the Northern Ireland economy there is a wide range of salaries advertised across the various sectors and occupations. Unsurprisingly, industries with highly skilled roles such as those within the IT sector have provided the highest average salaries within our economy over the last number of years.
This short article will examine the ranking of salary prospects and how this has changed over time, using sources such as the Annual Survey of Hours and Earnings (ASHE) and NIJobs TalentBank. The article will also consider if there is a balance to be struck between salary prospects and a “good
Top-Paying Industries
In Northern Ireland, the median weekly earnings (excluding overtime) for full-time employees was £644.40 in 2024, which represented an annual increase of 4% and an increase of 17% from 2021. Where the median salary was available, 35% (six out of seventeen) of sectors (SIC2007) earned above the median weekly earnings (£644.40). While the scale of median weekly earnings has increased over time, the proportion earning above the median wage has remained the same as it was in 2021.
The ICT Sector has the highest median weekly earnings (£803) in 2024, jumping from the second highest in 2021 and swapping places with the Education Sector (£760). Public administration remains the third highest with median weekly earnings of £733. There has been a 36% increase in earnings in the Finance and insurance activities sector, which ranked fourth in 2024 and did not appear in the top 10 in 2021.
Source: NISRA, Annual Survey of Hours and Earnings, 2024
Recent evidence from NIJobs Talentbank highlighted the healthcare and construction sectors had the most sought-after roles in 2024. The platform’s average job posting salaries for these sectors were £45,500 and £39,700, respectively, ranking second and fourth in their analysis. The increased demand for skilled workers in healthcare and construction is indicative of a change in recruitment patterns.
Previously, accountancy, finance and IT roles would have dominated according to Sam Dooley, country director at Stepstone Group Ireland. The increased demand for these roles is complemented by intense competition by employers across a wide range of sectors to attract talent. Alongside the salary evidence from Talentbank, this would suggest good salary prospects for staff in these sectors.
Top-Paying Occupations
In terms of occupations (SOC20 (1)), the top three occupations with the highest median weekly earnings are:
- Managers, directors and senior officials
- Professional occupations
- Associate professional occupations.
These three occupation groups all outperform the average weekly earnings for all occupations (excluding over-time) for full-time employees (£621) by 61%, 31% and 5% respectively. More specifically, within these occupations, where data was available, the highest paying sub-groups (SOC20 (3) are:
Managers, directors and senior officials (£1,002.20):
- Functional Managers and Directors - £1,343.80
- Production Managers and Directors - £1,095.40
- Managers in Logistics, Warehousing and Transport - £766.60
Professional Occupations (£813.10):
- Medical Practitioners - £1,817.40
- Business, Research and Administrative Professionals - £1,014.80
- Other Education Professionals - £891.30
Associate Professional Occupations (£650.70):
- Protective Service Occupations - £895.00
- Public Services Associate Professionals - £761.80
- Sales, Marketing and Associate Professionals - £676.70
Public and Private Sector
The salaries of those working in the public and private sectors saw respective median weekly earnings 8% above and 6% below the average for all employees in 2024. Despite the higher earnings for public sector workers, the data shows that the private sector is growing at a faster rate.
There were annual increases of 0.1% and 6.7% for the public and private sectors respectively in 2024. The current wage figures highlight that the differential between the two sectors is the smallest (15%) it has been in the last twenty years in Northern Ireland. The same trend can be seen in a comparison between the Northern Ireland and the United Kingdom’s private sectors (11%), where the wage gap has continued to narrow.
There are contrasts in changes in real earnings (earnings adjusted for inflation) of -2.8% in the public sector and 3.5% in the private sector in 2024. Real earnings for the public sector are now 8.2% below the 2004 level in contrast to an increase of 13% in the private sector, a further reflection of changes over the long-term. Whilst there are job opportunities with good salary prospects in both sectors, the private sector is continuing to grow at a faster rate.
It must be noted, however, that public sector pay awards for 2023 were made following the release of the ASHE data and are therefore omitted from the ASHE survey analysis.
Salary Prospects and ‘Good Jobs’
While there is a strong desire for individuals to pursue employment opportunities in those industries and occupations which offer the best salary prospects, there remains a balance to be struck between jobs with good salary prospects and ‘good jobs’. Emphasis must be placed not only on salary, but also on the wider dimensions of the Carnegie job quality indicators such as flexible working, secure employment, meaningful work and job satisfaction.
NISRA has recently developed a Good Jobs Measure, which is designed to monitor three areas which are fundamental to all jobs: permanent contracts; non-zero hours contracts; and earning above the Real Living Wage (see Further Information).
It should be noted that the Department will work to progress all seven dimensions of the Carnegie Framework for job quality, however for the remaining years of the mandate, there will be a focus on the three areas which are fundamental to all jobs.
Within the rankings, the Transport and Communication sector had the highest rate (83.2%) of good jobs in Northern Ireland, followed by Energy and Water (81.7%), Manufacturing (79.9%), and Construction (78.8%).
The Good Jobs measure also highlighted that the DfE-defined priority sectors had a higher proportion of good jobs (83.9%) than the NI average (66.7%). Within the defined priority sectors, Financial/Fintech (95.4%), Life and Health Sciences (88.8%), and Software (87.2%) had the highest proportion of Good Jobs in NI.
In terms of occupations, Managers, Directors and Senior Officials had the highest rate (91.8%) of good jobs. The rankings for the top-paying occupations largely mirror the rankings for occupations with the highest proportion of ‘good jobs’.
Conclusion
Overall, there are a range of occupations and industries which provide opportunities for jobs with high salary prospects. A select few of these also provide ‘good jobs’ and highlight the balance to be struck between a high salary and a ‘good job’.
Information and Technology, Education and Public Administration remain some of the top industries over recent years for high earnings, with these sectors having weekly earnings which are significantly above the average weekly earnings for all employees. The latest survey evidence from ASHE highlights that the private sector is continuing to grow at a faster rate than the public sector in terms of weekly earnings.
This has been a long-term trend highlighted via the difference in real wage earnings over the last two decades and it may present recruitment challenges for the public sector, particularly for the higher-skilled roles. There is a positive financial benefit for individuals who increase their skill levels, as this is intrinsically linked with higher earnings; however, it is important that individuals take cognisance of those occupations and industry sectors which are deemed ‘good jobs’ as wider dimensions of job quality are becoming increasingly important.
Further information
It should be noted that the Department will work to progress all seven dimensions of the Carnegie Framework for job quality, however for the remaining years of the mandate, there will be a focus on the three areas which are fundamental to all jobs.