Report: Northern Ireland hit by cost-of-living crisis with workers wanting £13,000 more per year to live comfortably

Workers in Northern Ireland are battling the cost-of-living crisis, with the average worker wanting £13,000 more per year in order to live comfortably.

Research conducted by Reed revealed salary expectation gaps across the UK – with workers in Northern Ireland feeling £46,000 is a comfortable salary to live on. In comparison, the average wage in Northern Ireland is currently £33,0001.

Pinning this against the national statistics, Northern Ireland is experiencing a slightly less intense wage gap, with the average salary expectation gap across the UK being £14,000.

As part of their annual salary guides, Reed analysed more than 17 million job adverts and asked 5,000 UK workers a range of questions on their salary – both current and expected. It revealed that workers on the UK’s average salary of £35,000 would need a 40% pay rise to survive the sharp increase in the cost of living – totalling up to a substantial £1,200 extra per month to keep up. To compare, workers in Northern Ireland would need an extra £1,100 per month.

Paula Gallagher, executive regional manager for Northern Ireland at Reed, said: “At the end of last year, reports said the Northern Ireland economy was expected to grow at the second fastest rate in the UK, as the region benefits from greater certainty through the Windsor Framework and a large public sector.

“This points to good news for employees – a better economy should highlight better job opportunities. If you’re looking to move in the next year, it’s time to keep an eye out to see if your sector could be offering you a better, more comfortable salary.”

In addition to this, 32% of workers in Northern Ireland felt that their financial outgoings were negatively impacting their mental health, with 27% not feeling confident that they will achieve their financial saving goals as planned.

The research also unveiled that 55% are actively looking or considering new job opportunities, with 40% believing they could get paid more elsewhere.

Reed has produced a suite of 16 sector-specific salary guides, which include an in-depth analysis of a survey with 5,000 UK workers, assessing their current and preferred salaries and benefits, their organisation’s performance and priorities, how they rated their job security and the future of their sector, and the key recruitment and skills trends they’re witnessing.