Just 70 extra roles were created in the IFSC last year

Further evidence that job creation within the IFSC isn't a panacea to redundancies in the domestic banking sector - there was net increase of just 69 roles in the centre last year, and international banks actually employed fewer people than at the same point in 2009.

Finance Dublin has released its annual employment survey, looking at job creation within the IFSC. While the sentiment is slightly positive - job numbers at the end of 2010 increased for the first time in three years - growth has been small, at just 69 more roles.

What's more concerning though, considering the job cuts in the domestic banks, is that numbers employed in banks actually decreased by over 125, to 9,994, suggests the survey.

Now that we're well into 2011, are things getting much better? Headhunters point to an increased appetite to hire among banks within the IFSC (although still we're still far off a recruitment spree), but the trouble is now attracting candidates.

"Bonuses might be on the table in international banks, but salaries on offer for any new jobs are down substantially from the Celtic Tiger days," says Greg O'Hanlon, partner at GHI Consulting. "However, most people within senior positions in the domestic banks are still on these high base salaries and feel it would be better to wait for redundancy than actively look for a new position."

As we've mentioned before, Ireland's funds companies are recruiting again, but the real growth area within the IFSC continues to be insurance. There was a net increase of over 170 jobs in 2010, and a rise of over 1,000 since the end of 2006.

"Most of the insurance roles last year were around risk and compliance, with any new international players only creating three or four jobs at any one time," says Paul Cotter, director of insurance-focused recruiters Cotter Personnel. "This year, we've seen a broader range of roles - underwriting, development and claims - and real expansion plans."