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Why is the Central Bank losing so many people?

  • 06-12-2013 2:59pm
    #1
    gaius c
    Registered Users, Registered Users 2 Posts: 3,528 ✭✭✭


    Up to seven now.
    Is it just coincidence that they are all leaving or should we be concerned that the folk most clued in to the state of the banks are jumping ship before the stress tests next year?


Comments

  • #2
    noodler
    Registered Users, Registered Users 2 Posts: 26,508 ✭✭✭✭noodler


    Probably just pay related.


  • #3
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,802 Mod ✭✭✭✭Gumbo


    gaius c wrote: »
    Up to seven now.
    Is it just coincidence that they are all leaving or should we be concerned that the folk most clued in to the state of the banks are jumping ship before the stress tests next year?

    Because after the rounds of public service pay cuts, and loss of flexible arrangements for staff, they are probably just moving on to a better job with better pay and benefits.

    The banks are still recruiting and I have heard (from family friends) about people being head hunted from different banks including the CB.


  • #4
    everdead.ie
    Registered Users, Registered Users 2 Posts: 9,153 ✭✭✭everdead.ie


    The central Bank has a pay scheme comparable to that of the public service despite the fact that it is meant to be a separate organisation.

    So it's wages are between 40-50% less then what their experience could command in industry.


  • #5
    Dannyboy83
    Registered Users, Registered Users 2 Posts: 4,236 ✭✭✭Dannyboy83


    It is understood Mr Coulson is to take up a new role at Britain's Financial Conduct Authority.

    Moving from one public body to another in this case, probably a lifestyle move.


  • #6
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,802 Mod ✭✭✭✭Gumbo


    Dannyboy83 wrote: »
    Moving from one public body to another in this case, probably a lifestyle move.

    And decent pay increase too.


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  • #7
    Count Dooku
    Registered Users, Registered Users 2 Posts: 2,416 ✭✭✭Count Dooku


    Probably because they see that they are not capable to do anything with staff what they have and cannot hire more competent staff because old one has jobs for life


  • #8
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,802 Mod ✭✭✭✭Gumbo


    Count Dooku wrote: »
    Probably because they see that they are not capable to do anything with staff what they have and cannot hire more competent staff because old one has jobs for life

    Is that a rabble or a rant? Because I couldn't make head nor tails of it :confused:


  • #9
    Brussels Sprout
    Registered Users, Registered Users 2 Posts: 7,486 ✭✭✭Brussels Sprout


    Not sure about wages at the top end but I remember last year they were offering graduate jobs which were paying €23k a year with annual bumps of €2k.

    Pretty hard to attract people to come and work in Dublin for that kind of money when they'd likely be competing with other financial institutions who'd be paying people a lot more.


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