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With job opportunities for financial services professionals in Ireland currently hard to come by, it's no surprise to see increasing numbers looking to live and work elsewhere. But, while the grass is always greener, there's a chance such a move could be both brave and slightly foolhardy.

The situation might look decidedly better on the other side of the Irish Sea, but some rather stark statistics show all is not rosy. Figures from the City of London suggest that there will be 35,000 fewer job roles in the UK's financial services than in 2008 by the end of this year, and that employment will still lag peak numbers by 10,000 until 2013.

Yet emigration among Irish nationals is on the up. Official data from the Central Statistics Office shows that 18,500 Irish born left for foreign climes to April 2009, with the majority heading to the UK or Australia.

And let's not forget, should you move, you'll also be competing against a wealth of local talent from previous redundancy announcements in just about all EU states, as well as within other financial centres like the US and Australia.

Can you afford to leave? Just about every Irish professional was clamouring to get on the property market in a bid to ride the wave of inflated house prices in recent years, only for it to come crashing down in the last 18 months. According to the Irish Home Builders Association, house prices have fallen by 40% since their peak, but many estimate it to be more like 50%.

Assuming you're unable or unwilling to sell your property, you could try renting it out in your absence. However, rental revenues are also falling and tenants are harder to come by. Add the cost of the property in your new destination and you've received a hefty dent in your wallet.

Obviously, visa restrictions are not an issue if you're looking to move within the EU. However, you may find it tougher elsewhere. Australia, for instance, has just tightened its visa requirements (although it still desperately wants accountants) as has the US.

Luckily, though, Ireland has a number of multi-national recruitment firms who can often help you out with practicalities like this.

If you're young, free and single, you don't have to worry too much about family ties. However, if not, you also need to consider how this will impact not just you but other family members if you are in a marriage or relationship. Housing, childcare and schools are just a few other factors that need to be considered. Often these are deciding factors in people decided not to relocate.

Those that take the plunge, often initially leave the family behind and indulge in the dreaded weekly commute. Employers will often shell out for this temporarily, but the new financial constraints mentioned above are going to make it increasingly difficult for you to shed the shackles of home.

Ireland suddenly appears a little more appealing…

Paul Cotter is director of financial recruitment firm Cotter Personnel. He can be contacted on pac@cotterpersonnel.ie. For more career advice, go to www.befree.ie