Working in Finance, Accounting and Banking

Ride the wave generated by thousands that have gone before you

We have worked with New Zealand and Australian accountants, financiers and banking professionals for the last seven years helping to build their reputation in the City. This means big banks and blue chip corporates now preference Antipodeans due to their excellent work ethic, strong technical skills and sociable personality.

Despite recent turmoil in the financial markets the demand for middle and back office staff remains strong. This is primarily due to the retail banks, like HSBC and RBS, growing their investment banking operations and the pressure of staff moving to overseas offices like Singapore and Hong Kong.

Commerce and industry company results have been bouyant leading to an increased demand for talented staff. These dual factors have created an acute skills shortages with forecasters predicting them to remain into the foreseeable future. This is driving up salaries across the board - to the benefit of Antipodeans.

Our vast expertise and deep relationships in the UK market will let you develop your career in some of the leading companies like Goldman Sachs, BSkyB, GlaxoSmithKline, Deutsche Bank, Burberry, Coca Cola, Yahoo! and Virgin.

Where people are getting work

Big banks = lots of job opportunities

Unsurprisingly, as a world financial services hub, many antipodean accountants and financiers end up in the big banks in London. With skills shortages so acute they have even started waiving the pre-requisite need for investment banking industry experience.

Antipodeans grease the wheels of the banks in London usually holding middle and back office roles like product control, financial and management reporting, risk and compliance.

But they are not all just bankers...

Many other industries are equally vibrant in the UK. In fact the creative sector is the second largest industry in London hence the large numbers who find jobs in media companies like Sky, MTV and Disney - yes they need accountants too!

The M40 corridor is the stamping ground of the telecoms and technology industry and there is always consistent demand for quality analysts, financial controllers and management accountants. These are often dynamic and commercially focused roles and provide great experience to bring home.

What people earn and how it stacks up

Generally salaries are a lot higher in the UK, particularly compared to New Zealand where the investment banking sector is not very developed. Working in financial services tends to pay more than commerce and industry, public sector or professionals services. Whatever sector you work in, overall you are likely to earn around 65% more than at home.

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^{2. The comparison between the United Kingdom and Australia is how much higher or lower UK salaries are than Australian salaries when they are both in the same currency}

Most people will contract initially earning hourly or daily rates (our figures above are annualised average rates.) The advantages to contracting are outlined in our contract vs permanent work page. If your intention is to stay longer in the UK, it is worthwhile looking at permanent roles and their benefits such as five weeks annual leave, car allowance, pension scheme, bonus potential and paid career development training.

To find out your UK market worth, contact one of our consultants today.

Things you need to know to make the most of it

Wanting banking - get an HSMP

Banking and financial services institutions are really strict on work permits and generally will only employ those who have worked for less than six months of their working holiday visa. This creates a conundrum because you need a year of earnings to get your HSMP in the UK - so our advice is don't leave home with out it.

Windsor collar, double cuffs and shiny shoes

First impressions count in the City and your differentiator might be sartorial. There is an unwritten dress code in the banking world and we recommend putting on your Sunday best for interviews with both the agencies and future employers. This applies equally to men and women. Take a trip to your closest TM Lewin store with our vouchers to see what we are talking about.

Keeping up your professional development

Your qualifications are highly regarded and keeping them is the key to your continued success. Professional development courses are a lot more varied in the UK and both the Australian and New Zealand Accounting bodies have active branches in the UK. If you are not already registered you should definitely transfer your membership to take advantage of their offerings. Contact us to put you in touch with them.

It's not a case of spray and pray

You need to manage your job search in the UK as most of the agencies will have overlapping client portfolios. As demand for newly qualified accountants is so high you do not need to register with any than five agencies to begin with. This way you can control your job search ensuring that your CV does not end up at the same employer through multiple agencies - which risks making you look desperate.

Timing is everything

There is lots of work around reporting deadline periods. Quarterly, half year, and annual reporting requirements (globally) increase demand for staff. This is especially the case for:

• Professional services and corporates where companies' year end reporting creates demand for contractors
• Banks, particularly the US investment banks, where quarterly reporting often coincides with holiday periods hence the need to hire temporary staff
• Public sector who often employ staff to hit budget (ensuring they receive at least the same amount of money next year) this usually occurs in the February to April period
  
  

Second job add a few bob

Your first job in the UK is often the springboard to your UK career so money is not everything. Once you have had three months UK experience you are more valuable in the market. This experience can be leveraged into either a better second role or a pay increase in your existing position.

Don't price yourself out of the market

Remember though that markets have peaks and troughs and that at times like year end rates can be a lot higher than in the middle of summer when no one is hiring. Therefore, you should always be aware of market conditions and not just listening to what your friends are making (as they may have got their jobs in very different conditions).

To speak with one of our experienced UK consultants, please contact us on uk@globalcareerlink.com.