Finance jobs in London remain a top draw for Australian and New Zealand Youth Mobility Visa (YMV) holders, though 2024 has seen a slight dip in arrivals compared to the previous year.
In 2023, 9,900 Australians and 5,300 New Zealanders entered the UK on a YMV. This fell to 9,754 Australians and 4,304 New Zealanders in 2024 - a combined drop of around 8%.
Several factors could be behind this slowdown: the increasing cost of the visa itself, rising living expenses across the UK, and ongoing uncertainty in the employment market. Despite this, London continues to attract finance professionals with its strong career prospects, travel opportunities, and vibrant lifestyle.
As we moved through the end of 2023 and into 2024, we've seen a noticeable shift in candidate behaviour and employer expectations - particularly around salaries, job search timelines, and how individuals structure their move to the UK. Here’s what finance professionals should consider before booking that one-way ticket.
Salaries: A Strong Draw, But a Calmer Market
London salaries in the finance sector remain 20–50% higher than those in Australia and New Zealand for candidates with comparable experience. This continues to be a major motivator for those relocating.
That said, businesses are facing their own pressures - with tighter budgets and recent National Insurance increases, many employers are taking a more cautious approach to hiring. While demand remains, the frenzy of 2023 has eased.
This is especially evident for newly qualified (NQ) professionals transitioning directly from practice. In 2023, it was rare to secure a CA-qualified candidate for under £60,000. Now, salaries have stabilised, with most offers falling between £55,000–£60,000, often alongside discretionary bonuses.
The message? The opportunities are still there, but expectations should be realistic and flexibility is key.
Timelines: Speeding Up, But Still Requires Patience
Earlier this year, new arrivals were typically taking up to six weeks to secure a role. According to data from Global Careers HQ in New Zealand, that timeframe has since improved slightly to around five weeks.
One of the biggest challenges we see is misaligned expectations. Many candidates move with advice from peers who landed roles in previous years — when market conditions were very different. In the current climate, it’s important to understand that things may take a bit longer, and the path to employment might not be as straightforward.
Securing a role before arriving in the UK remains uncommon, particularly for those eyeing interim or temporary roles. However, strong CVs, relevant qualifications (like CA or CPA), and proactive networking can help candidates stand out in a more competitive market.
Search Strategies: The Early Bird Catches the Job
In the past, many candidates would travel for months before settling in London, arriving in September or October without raising eyebrows. That approach doesn’t quite fly in today’s market.
With job vacancies down 20% toward the end of 2024 and ongoing economic uncertainty leading to a dip in business confidence, candidates are now taking a more structured approach to their move.
We're seeing a shift in mindset: people are arriving earlier in the year, prioritising job and accommodation security before the traditionally quieter summer months. This strategic planning not only improves job prospects but also helps with settling into London life with greater financial stability.
Final Thoughts: Planning and Perspective are Key
The UK still offers a fantastic launchpad for Aussie and Kiwi finance professionals, but those looking to make the move in 2025 need to do so with their eyes wide open.
Yes, there are challenges: fewer vacancies, stabilised salaries, and more competition. But the rewards are still very much on offer for those who plan ahead, stay flexible, and adjust expectations to the current market.
At the end of the day, London’s finance scene isn’t just about the job; it’s about the lifestyle, the experience, and the doors it can open in your career. Just be sure to pack a plan along with your passport.