Accountants leaving regulatory authorities by choice or otherwise may find themselves surprisingly popular, say recruiters.

The rumoured jettisoning of accountants by certain financial regulatory bodies is unlikely to swell jobless figures in the City, as some might gleefully have predicted. Yet job offers from banks won't necessarily represent windfalls for their recipients.

Qualified accountants from the FSA are often highly sought after, says Edward Chen, senior consultant at recruiters PSD Group: 'It depends on the role they played but good candidates tend to be up-to-date with reporting practices and enforcement methodology - and employers like that.'

The 'stigma' of public sector is by no means automatic, insists Steve Forro of recruitment specialists Indigo City: 'It's completely wrong to think of FSA accountants as second-class citizens,' he says. 'The FSA has very high standards - it's succeeded in recruiting and retaining excellent people who'd be snapped up by any investment bank without hesitation.'

While salaries within regulatory bodies used to be far below market rates, that's no longer the case. 'It's a misconception that the FSA doesn't pay well - its compensation packages stand up admirably,' says Chen. 'Although people moving from there into the private sector would often be better off, the difference may be marginal - and also factor in the work-life balance associated with working for the FSA.'

The major challenge for ex-government enforcers is likely to be cultural: 'Despite moves to help employees achieve a better work-life balance in recent years, long hours and high pressure are still the norm amongst banks,' says Forro. 'That's almost certainly going to come as a shock to anyone transferring over from a public body.'