Dublin offers corporate finance openings for ACAs

Corporate financiers who are burning out in London's overheated market may fancy heading west for a quieter life - recruiters say there are jobs to be had in Dublin.

"There are a number of corporate finance openings in Ireland," says Charlie Cullen, a consultant at Dublin-based recruiter Coxfitzsimons&wilkes. "Anyone who has got investment banking experience and an accounting qualification is very, very desirable."

Compared to the UK, the Irish market is rather modest. According to data provider Thomson Financial, Irish M&A deals in the first half of 2006 were worth a mere $5.8bn, compared to $33.6bn in the UK. However, the Irish market is growing exponentially - deals in the country were up over 150% in the first half of this year compared to the same period of 2005.

Plenty of City M&A bankers nowadays have MBAs, but Cullen says the emphasis in Dublin remains firmly on former accountants. "It's generally preferable to have an ACA qualification over here," she says. "Banks will hire both newly qualifieds and ACAs with some M&A transaction experience."

Irish banks currently recruiting corporate financiers are understood to include the likes of Goodbody Corporate Finance, a subsidiary of Allied Irish Bank, and Davy, the Bank of Ireland subsidiary, as well as local boutiques such as Dolmen Securities.

Predictably pay is not on a par with London, where first year analysts can reportedly earn 90,000 or more. But it's not too paltry either. Cullen says corporate financiers with five years' experience can command salaries in excess of €100,000 (68,200), plus a bonus of 100% to 200%.

Corporate financiers can also take comfort in the fact that Dublin is a little less sweltering than the City right now. While London temperatures are forecast to reach 30 degrees today, Dublin will be a (relatively) cool 25.