Victus Search, Multi-jurisdictional Recruitment Partner for Financial Services 1200 627

Date

5 September 2024

Category

In today’s interconnected world, career relocation across borders has become increasingly common — and among global destinations, the UK stands out, attracting highly skilled professionals from across the globe. 

But is relocating your career to the UK the right move for you?

In this article William Hurlock, Associate Director at Victus Search, offers a balanced perspective, exploring both the numerous advantages and the essential considerations to help you make an informed decision.

WHY THE UK? UNPACKING THE ADVANTAGES OF CAREER RELOCATION

Sectors such as corporate services, trust and fiduciary, fund services and capital markets are particularly attractive, often presenting higher salaries and faster career progression than in other countries. Added to this, the UK’s longstanding reputation in law, tax and accountancy is a magnet for professionals in these fields. 

London stands out, with its status as a global financial and business centre, but locations such as Edinburgh, Cambridge, Bristol and Manchester also offer a growing range of opportunities for newcomers looking to live and work beyond the capital city.

VIBRANT CULTURE AND LIFESTYLE

Outside of the office, the UK offers rich social and cultural experiences. With its diverse and metropolitan cities, charming landscapes, and historic landmarks, there’s something for everyone — and ample opportunities for connecting with people from all walks of life. For those with family ties in the UK, relocation offers the chance to be closer to loved ones and build a strong support system.

EASY ACCESS TO INTERNATIONAL TRAVEL

As a global hub, the UK provides easy access to mainland Europe and direct connections with destinations further afield from San Francisco to Perth. This makes it an ideal base for those who love to travel and explore new cultures — and relatively convenient for occasional visits home.

WORLD-CLASS EDUCATION AND HEALTHCARE

Families and individuals alike benefit from the UK’s world-class education system, which offers excellent options both for children’s schooling and adults looking for personal and professional development. And for urgent or ongoing care, the UK’s globally renowned National Health Service (NHS) and established private healthcare market offer peace of mind for new arrivals.

THE CHALLENGES OF RELOCATING YOUR CAREER: WHAT TO CONSIDER

While the UK offers a wealth of opportunities, it’s crucial to approach relocation with a realistic perspective. Depending on where you are coming from, there are potential gains or losses to be evaluated — and it’s best to understand the pros and cons upfront.

COST OF LIVING

It’s no secret that the cost of living can be significantly higher in the UK compared to other countries. Housing, transportation, and groceries can all put a dent in your budget, particularly in major cities like London. Websites like Numbeo offer helpful tools for comparing the cost of living between your current location and potential destinations in the UK before you make a decision.

SALARY AND TAXATION

While the UK offers attractive earning potential, it’s essential to understand industry standards and potential salary adjustments when transitioning to the UK job market. Understanding the UK tax and national insurance system is a crucial part of this, as it might differ significantly from your home country — particularly if you’re relocating your career from a low or zero-tax jurisdiction. 

WORK-LIFE BALANCE AND COMMUTE

Commuting time and costs can impact your overall well-being, especially if you choose to live outside major city centres. However, certain locations are better served than others, so it’s important to research the local transport provision. With the rise in hybrid and remote work options over the last few years, it’s possible to avoid the headache of regular rush hour travel, or at least minimise it.

VISAS AND IMMIGRATION

With the exception of British or Irish citizens, most professionals coming to work in the UK will require a visa. Securing a visa usually requires sponsorship from a UK-based employer, which can be a time-consuming and complex process, so it’s important to plan ahead. The UK government website has a wealth of relevant information available, accessible via https://www.gov.uk/browse/visas-immigration.

RELOCATING YOUR CAREER: MAKING THE RIGHT MOVE

Relocating your career to the UK can be a life-changing decision, offering a wealth of opportunities for professional growth, personal enrichment, and cultural immersion. However, it’s crucial to weigh the advantages against the potential challenges and approach the process with careful planning and realistic expectations.

By thoroughly researching your options, understanding the financial implications, and considering your personal priorities, you can make an informed decision that aligns with your long-term goals and aspirations. 

At Victus Search, we’ve worked with hundreds of candidates to find the right fit for them as they begin their career in the UK. If you’re considering following in their footsteps, get in touch today for expert advice and guidance on finding the right opportunity, and navigating the relocation process. We’ll be happy to offer the benefit of our international experience and robust UK network.

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Whether you’re looking to fill a specialist role, or seeking the right position to deploy your unique skills and experience, the first step is to get in touch with one of our expert consultants.

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