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Northern Ireland company announces £2k pay rise for staff


Katrien Roppe, FinTrU

Katrien Roppe, FinTrU

Katrien Roppe, FinTrU

A tech company in Northern Ireland has announced a pay rise of £2,000 or 5% on top of their base salary to help with the soaring cost of living.

Consumers have been facing inflation of 9% on everyday goods and hefty increases in the cost of energy.

Now FinTrU, which was founded in Belfast in 2013 by Darragh McCarthy, has said employees will receive an additional £2,000, €2,000 or $2,000, depending on location – or an additional 5% increase to their base salary, depending which is greater.

The increase will apply to all employees, from entry level to senior vice-president, including part-time employees.

But the initiative excludes FinTrU principals at executive and managing director level who already have an enhanced benefits package, including the ability to buy equity in the company.

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FinTrU, which specialises in regulatory solutions for investment banks, has over 1,000 staff in premises in Belfast, Londonderry, Maastricht, London, Dublin and New York. 

Its turnover has been growing steadily, reaching £12m in 2019, £17m in 2020 and £29m in the year to March 2021. Pre-tax profits have also more than doubled in its most recent results, from £2.2m to £5.5m.

Chief executive Mr McCarthy said: “At FinTrU, we heavily invest in our people as part of their professional careers, but we are also fully aware of the current inflationary situation globally and want to continue to support our employees. Therefore, FinTrU has taken the decision to increase salaries due to the present level of cost-of-living expenses across the global landscape.

“This off-cycle salary adjustment is completely independent of our year-end merit-based compensation process.

"FinTrU is performing exceptionally well and is in the financial position to implement this increase with no bearing on compensation rewarded to our employees as part of our annual year-end process.”

Katrien Roppe, FinTrU chief of staff, added: “As a company, FinTrU has a social purpose to create high-quality employment on a global scale. This decision to increase our employees’ salaries is something we are proud to do.

"FinTrU is in the position to be able to afford to do this due to the hard work and commitment shown by our people since our foundation in 2013. This is not lost on us, and we are delighted to support our employees in this fashion for their continued dedication.”

The salary increase will be effective from July 1. The company said future employees, who have received an offer to join FinTrU, will also have their salary adjusted.