UK Employment Market
myOE has excellent local knowledge when it comes to the UK employment market as we are constantly working with the recruitment industry to find employment for professionals just like you. When you register with myOE, you'll also be assigned a UK account manager who will work with you personally to find the right job for you.
How easy is it to find a job?
It is currently taking anywhere between two weeks and two months for people to secure work depending on their knowledge and experience. The interview process itself may be more than one stage and last a week or longer. In our experience, those specialising in IT are currently taking about 6 weeks to find their first contract in the UK, and those with skills in Finance, Accounting and Banking are currently taking about 8 weeks.
How is the current UK employment market?
Generally speaking, the market has slowed down significantly and clients are being more specific with regards to industry, background and systems knowledge. However, if you have a good skills base, employment opportunities are still available in the UK. Good people will always find employment even in hard times.
The market is less candidate driven than it has been in recent years, and individuals who are willing to be flexible on factors such as rate, location, duration and sector are being placed more quickly than those who are very specific. The forecast for the next three months and beyond is cautiously optimistic, but it is difficult to predict given the state of the UK economy. Clients are still very much recruiting but the volumes have decreased and the process is longer.
How do I find a job?
When you sign on with myOE, you'll be assigned a dedicated UK Account Manager, who will introduce you to our recruitment partners to help you find the right job for your skill base. Remember to be flexible on your first role, rate and location. You simply need to get a foot in the door. Local experience becomes invaluable when looking for better work opportunities.
How much can I earn?
In general, you will be likely to earn between 10-30% more (in dollar terms) in the UK than in Australia or New Zealand. Many workers new to the UK panic at the low-looking salaries and contract rates, but when you convert the figures back to Australia or New Zealand dollars, they even out and are often higher than expected.
Keep in mind that pay rates in London tend to be higher than other cities and regions within the UK due to the higher cost of living there - make sure to factor that in if considering a position in the nation's capital.
Like anything, salary rates will vary according to your qualifications and experience. Here are some examples for industry-specific jobs in the UK:
- Basic pay for investment banking graduates varies from £28,000 to £35,000.
- IT developers and project managers with a few years experience can expect to earn from £38,000 upwards.
- A newly qualified accountant (without 'Big 4' experience) can earn between £20p/hr - £25p/hr
The myOE team can pinpoint your salary expectations more accurately once you
register and give us your details.