Money Matters | Collins McNicholas

Budget Basics 2017

Budget Basics 2017Tuesday afternoon, Ministers Noonan and Donohue presented the budget for 2017 to the Dail. It included a number of expected measures, along with some interesting talking points. It’s very easy to get lost in the stats, but what implications does this really have? At a breakfast briefing this morning, hosted by RBK, Ulster bank and Athlone Chamber of Commerce, some of the main areas were outlined and have been summarised below – USC has been reduced by 0.5% Social welfare payments are to be increased by €5 per week €15 million has been allocated to bringing high-speed broadband to rural Ireland The education sector will receive an extra €458 million. This will be spent on recruitment of 2400 teaching staff, €36 million on higher and further education, and a 35% increase on early years funding A tax increase on cigarettes of 50c per pack VRT relief on the purchase of hybrid vehicles as a measure in support of tackling climate change First-time buyers will get an income tax rebate of 5% on the value of their purchase up to a cap of €20,000 refund €1.2bn in funding for housing, with47,000 new social housing units by 2021 800 additional Gardaí to be recruited in 2017 1000 additional nurses and midwives to be recruited 10c rise in the minimum wage as recommended by Low Pay Commission There has been a mixed reaction to the budget announcement so far. The general conclusion is that while there are some positive moves, none of these are likely to have a very significant impact on the average worker. Donie Shine Recruitment Consultant Collins McNicholas Recruitment & HR Services...

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Collins McNicholas is proud to present it’s 2013 Salary Survey

Collins McNicholas is pleased to publish its 2013 Salary Survey of management, professional and administrative salaries in Ireland. These salaries are based on the actual salary information provided by our clients for vacancies we have worked on in the first three months of this year. The information is largely based on salaries in the multinational sector which has accounted for the vast majority of the positions we have worked on year to date. The information is corroborated by the salary data supplied to us by job seekers who register with us and are in employment at the time of registration. In the period between January and March 2013 we registered over 3500 candidates. For the purposes of this salary survey we have recorded salary levels for professionals with between 3/5 years’ experience. Professionals with between 3/5 years’ experience tend to be the most sought after and that is why we have used this group. It is also worth pointing out that the information is based on a significantly increased number of job vacancies and placements year to date which reflects market commentary relating to the significant pick up in the export sector in the last three years. In the period between January and March 2013 we registered over 400 new job vacancies. This shows an increase of 12% from the same period last year. This increased number of vacancies, as well as being a tangible indicator of an increase in economic activity in 2013, also means there can be a high level of confidence in the accuracy of the information supplied in this salary survey, as it is based...

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Jobseeking after Redundancy

Colman Collins MD of Collins McNicholas gives some advice to jobseekers who have been made redundant About answering the dreaded Q; “What have you been doing since you were made redundant?” The first point I would make to someone attending an interview who is asked this question at an interview is to answer it truthfully as experienced interviewers are trained to pick up any body language clues that you might inadvertently give which could indicate when this is not the case. As any outplacement provider will tell you it takes time to come to terms with being made redundant and to deal with the myriad of feelings and emotions that can arise from such an event. In this situation it is better to work through these feelings before applying for any positions as any feelings of anger, resentment or despair are likely to emerge at an interview and are likely to indicate to the interviewer that you are not ready to move on and start the next chapter in your career. I would also suggest to a person in this situation that it is not necessary to account for every week that you are out of work by filling it up with an account of positions applied for and of interviews attended. On the contrary it is quite acceptable to respond by saying that you used the redundancy experience to take some time out to take stock to consider ones options. Taking time out in this way is an indication of maturity as it shows that a person has used a painful experience positively to consider the type of...

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Proposed Changes in PRSI and Sick Pay

As MD of one of the leading recruitment agencies in the country I am completely opposed to the comments of the Minister for Social Protection Joan Burton where she advocated the idea of increasing the rates of PRSI and where she proposed to make private sector employers responsible for paying the first four weeks of sick leave of any employee who is absent from work due to certified illness. Proposed Increase in PRSI rates It flies completely in the face of the government jobs and competitiveness strategies to advocate an increase in PRSI costs at the present time.  The Minister should consult with her cabinet colleagues and particularly with her colleague Minister Richard Bruton Minister for Jobs, Enterprise and Innovation before advocating such an ill-advised proposal. I suggest that the Minister should also speak with Barry O’Leary CEO IDA as to the likely effect of her proposals in assisting the IDA to attract FDI projects into Ireland. Finally I think she should also consult with Mark Fielding CEO ISME who has gone public on the effect of such a proposal would have on member companies of ISME many of whom are struggling to stay in business and who can ill afford any additional costs after four years of recession. From my own point of view as MD of a recruitment agency which has been assisting FDI companies to set up here over the past twenty years I believe that PRSI rates much like Corporation Profits Tax is an issue where companies proposing to set up in Ireland want certainty as to their cost base for at least ten years....

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Saving is Key to Financial Success

Posted on November 20, 2010 by Colman Collins Pocket Watch 07 November 2010   Colman Collins is the founder of Collins McNicholas, a recruitment and human resources firm. Collins spent 13 years working in multinational firms, mainly in HR roles, before establishing his company in Galway in 1990. The firm now has offices in Dublin, Cork, Sligo and Athlone. The 57-year-old is married and lives in Galway. He has a son aged 25 and a daughter aged 21. What’s the best investment you ever made? Buying my house at the bottomof the market in 1983. What was the worst investment you ever made? Buying Eircom shares. Which investment options do you currently favour? I don’t favour any particular financial investment. I enjoy a bet on the horses, where you know your fate very quickly. What financial advice would you give to someone starting off? Save a little every year. Don’t incur debt you can’t readily manage. When you started your career, if you had the financial knowledge you now have, would you have done things differently? I would take out a self-administered pension plan and I would not have bought shares. Are you a saver or a spender? Neither at present, I live within my means. What’s your top financial priority? To manage my business through this period of economic downturn and to position it for the global recovery. Have you made any changes to your personal spending habits as a result of the current economic environment? I’m now more conservative in my spending habits. If you were the Minister for Finance for a day and could change one thing,...

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