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Basic Economic Summary


The Republic of Ireland maintains its good economic standing throughout the years and has been ranked 5th in the world for the Economic Freedom Index in 2021. The country is mostly involved in the knowledge economy, venturing in life sciences, agribusiness and financial services. This makes Ireland a great source for highly skilled individuals in various industries, making it a promising field for talent acquisition.

Basic Information

  • Local Languages: Irish, English
  • Capital: Dublin
  • Currency: Euro
  • Population: 5.15 million (2021)
  • Date Format: dd/mm/yyyy

Useful Information

  • GDP Per Capita (in USD): 101,287.141 (2021)
  • Exchange Rate (EUR/USD): 1.13
  • PISA Ranking (2018): 12*
  • Number of University Graduates (2020): 81,400

Local Universities

Top Local Universities

University Rankings
Trinity College Dublin (TCD) Ranking in Ireland: 1, World Ranking: 101
University College Dublin (UCD) Ranking in Ireland: 2, World Ranking: 177
NUI Galway Ranking in Ireland: 6, World Ranking: 238
University College Cork (UCC) Ranking in Ireland: 3, World Ranking: 286
Dublin City University (DCU) Ranking in Ireland: 5, World Ranking: 439

Salary Data

Average Salary of Jobs (Per Month)

Job Title Salary Range (in EUR) Salary Range (in USD)
Technical Product Engineer 33,000 - 77,000 37,075.17 - 86,508.73
Software Developer 28,000 - 61,000 31,457.72 - 68,532.89
Data Analyst 27,000 - 55,000 30,334.23 - 61,791.95
UX Designer 28,000 - 60,000 31,457.72 - 67,409.40
Project Manager 34,000 – 83,000 38,198.66 - 93,249.67
Sales Executive 23,000 - 49,000 25,840.27 – 55,051.01
Chief Accountant 25,000 - 63,000 28,087.25 – 70,779.87

More information about average salaries in Italy can be found on Payscale.com

Talent Sourcing Tips


Employer Payroll Tax

Employers need to contribute 11.05% of the wages to social security.

Employee Payroll Tax

Employees pay 15% into the state fund for unemployment benefits.
Income tax is levied annually as follows:

Category Standard Rate Income
Single Person 20.00% Up to €35,300
40.00% Balance
Married Couple/ Civil Partner/ One income earner 20.00% Up to €44,300
40.00% Balance
One Parent Family 20.00% Up to €39,300
40.00% Balance

More information on income taxes levied can be found here.

Minimum Wage & Payroll

Minimum Wage

The national minimum wage set by law is €10.20 per hour.

Payroll Cycle

Workers are paid on a monthly or weekly basis depending on the employer. Paydays are generally on the last day of the month.


13th month salary

No provisions with regards to 13th month salary.

Working Hours & Statutory Leave

Working hours

The general work hours are 8 hrs a day and 40 hrs a week which may stretch to 48 hrs as well. Overtime work hours are restricted at 4 hrs a day and 20 hrs a week

Overtime pay

Ireland doesn't have any stated overtime pay. However, it may be outlined in the employer contract.

Public Holidays

There are a total of 9 public holidays in Ireland. The list of public holidays can be found here.


Annual Paid Leave

Employees are entitled to a basic paid leave of 4 weeks, although an employee’s contract can give greater rights.

Sick Leave

Under the Irish law, the employer is not obliged to pay their employees during sick leave. However, it is completely at the discretion of the employer to decide the amount of sick leave allowed as well as the terms of payment.

Parental Leave

  • Maternity Leave

Employed working mothers are given a maternity benefit of 26 weeks. Maternity Benefits is a 6 day paid benefit from Monday to Saturday, Sunday is not treated as a day of entitlement.

  • Paternity Leave 

Two weeks of paid leave is given during the 26 weeks of the birth or adoption of the child.

Offboarding & Termination

Termination Process

The law requires the employer to give a week’s notice unless otherwise stated in the contract, especially when an employee has been employed for 13 weeks or more. In case the employee feels the dismissal is on unfair grounds, he or she can request for a written statement which must be provided within 14 days of requesting the same.

Notice Period

The statutory minimum notice period is one week. However, employers are placing longer periods, read more here.

Severance Pay

Severance pay is not a legal requirement but in the event of redundancy, those with two years of service or more are entitled to two weeks of severance pay plus one extra week's pay.

Probation period

Most probation periods in Ireland are between three to twelve months. 


Employers and employees make compulsory Pay-related Social Insurance (PRSI) contributions to the Social Insurance Fund (SIF). Their contributions will be used to pay for their Social welfare benefits and pension. 

Rates for PRSI contributions vary from the different classes and its subclasses. To have a more detailed look on the rates, you may refer to Ireland’s government website.

Once insured, Employees may avail of Ireland’s Treatment Benefit Scheme which covers dental, optical and aural services. 


The standard VAT rate in the country for 2021 is 23%

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