There is a growing split between the domestic commercial work and finance-driven specialist services that the Republic of Ireland’s elite band of commercial firms are offering to an international client base, drawn by the country’s low corporate taxes.
This is clearly illustrated by the growing demand for sector specialists among Dublin’s finance-focused law firms. Matheson Ormsby Prentice (MOP) unveiled plans earlier this year to introduce tiered salaries for its newly-qualified lawyers, saying it is prepared to pay young lawyers practising in high-growth areas such as securitisation and structured finance up to E62,000 (£44,000). Those qualifying in less exotic practice areas like property and insurance might have to settle for a flat rate salary of a mere E54,000 (£38,000).
