Sydney to London as an Australian Actuary Part 2: Finding Work in the London Market

In Part 2 of my series on moving from Sydney to London as an Australian actuary, I share the different routes via which you can find work in London. If you haven’t already, you can read Part 1, which covers when and why to consider a move abroad.

Do I need to secure a role before I leave Australia?

Whether you need to secure a role prior to moving may be dependent on your visa. The Youth Mobility Scheme Visa (discussed in Part 1), did not require me to have a job secured beforehand. In any case, this not purely a professional consideration.

For my partner and I, having at least one stable income improved our chances of securing a rental, gave us extra peace-of-mind, and took some pressure off the other in looking for a role (and some relief for our savings account!). However, for those wanting to travel before starting work, securing a role so far in advance might be less practical.

Applying for roles from overseas has undoubtedly become easier post-COVID, with many employers running their interview and assessment centre processes remotely. That said, one should be prepared for some challenges associated with remote applications:

• Anecdotally, some employers may not take you as seriously as an overseas applicant, particularly if you don’t have an approved visa or flight booked.
• Practical challenges with time zones can affect your ability to be responsive. Taking multiple interviews in the evening can be tiring after a full day of work!
• Not being available in-person to network with contacts in a more informal setting, like a coffee catch-up.
• Issues with technology - one particular interview I did was borderline unworkable due to a poor home connection on the interviewer’s side!

A photo at Staple Inn, home of the Institute and Faculty of Actuaries (IFoA), taken by Stephen Goh. The Staple Inn Actuarial Society has been in existence for over 100 years, primarily representing the interests of junior members of the profession.

How early should I start looking for work? 

This will vary based on demand for your specialist area and your own flexibility in the roles or employers you are interested in. It’s good to start by doing a bit of research to get a sense for how “hot” the market is and how long it might take you to secure your desired role.

I started checking out the market about six months beforehand, increasing the intensity of my search three months out. This was probably only just enough time for me, as it coincided with a slow recruitment season.

I found the job market quite unpredictable (some weeks busy, others very quiet), so it’s best to start your search early. You want to allow enough time to conclude the whole process, which might span multiple interviews/assessments and be subject to availability on the employer’s side.

Notice periods in the UK are typically three months, so it is not unusual to be searching for jobs months before your intended start date. It’s also typical for the employer to request reference and background checks after an offer has been accepted, which may take four weeks or more. In some cases, an earlier start date due to your relocation may give you an edge over a local candidate if there is an urgent need - more on this below.

What are the best ways to find work?

Transfer via current company: If you are fortunate enough to work for a global company, this is probably the easiest way to relocate. Allowances for relocation costs, flights and/or visa fees can make this very appealing if available.

Recruiters: I highly recommend the use of recruiters. They have roles not advertised on job boards, which can help you to understand the state of the market and share expected future vacancies. They can also help you get a sense of a sensible salary range to aim for – try talking to a few different recruiters for this. A good recruiter can also talk you through the job application process, which helps prepare you for each step.

There are a lot of actuarial recruiters here in the UK, and the best ones for me came through word-of-mouth. In fact, I secured my current role through a recruiter recommended by a friend! I’d also suggest working with a couple of recruiters at the same time, as they will partner with different companies and help you widen your net.

For me, recruiters led to higher interview conversion rates than direct applications because they were able to better represent my experience and situation to employers. Anecdotally, some companies look at recruiter referrals first, as they’re seen to have been vetted.

However, there can be challenges with recruiters who are keen to simply make their commission. Look for those who have a good reputation; in my experience, they take the time to understand your situation/goals, and provide you with frequent updates, without being too “pushy”. 

Networks: I was overwhelmed by the generosity of former colleagues and acquaintances who went out of their way to help me in my search. Again, this can reveal roles not publicly advertised or connect you with employees/hiring managers who can share more context around a job posting, which can improve the quality of your application or interview performance. Referral bonus programs can also help make it worthwhile for them if you land the role.

Job boards and direct applications: These can be an excellent way to research the market, the types of skills in demand by employers, and potential salaries. You can also sign-up for email alerts when a new role is posted via the job board or company website. Just be aware that if you apply directly for a role, recruiters cannot represent you for that role and potentially for other roles at the same company, depending on their specific agreement with the employer.

What about the type of role?

In addition to the mediums above, you might consider the type of work you are applying for. The general wisdom seems to be that consulting roles are more open to international hires (particularly if you have prior consulting experience), potentially because they are more accepting of a broad skill base.

Further, fixed-term contract work can be a great way to get your “foot in the door”, taking advantage of your ability to start immediately and potentially offering a pathway to securing a permanent role.

Join me for Part 3

The third and final part of this series will go deeper into the application process, covering tips on presenting yourself and your CV.

Are you an actuary living in London? 

Don’t miss this chance to connect with your community at our exclusive networking evening on Tuesday 21 October at The Old Thameside Inn. Hosted by Actuaries Institute Vice President Maathu Ranjan, it’s the perfect opportunity to meet peers, share experiences, and enjoy drinks and nibbles in the heart of the city. Register now: https://www.actuaries.asn.au/whats-on/event/3272 .