Is London still calling for Aussie candidates?
Looking for a banking job in London might be easier than it was a year ago, but Aussie candidates are still cautious about coming to the City.
"Over the past two months, as the perception of the market has improved, we are starting to notice a greater appetite to work in London amongst Australian candidates," says Andrew Evans, managing director of Morgan McKinley's UK financial services business.
Gemma Lealuga, international candidate manager at Robert Walters adds: "In the last few months, we've seen a small increase in financial service candidates going over to London. This is largely due to the more positive feedback they have heard about the current market."
Aussies are, however, being less gung-ho about making the move. "Whereas in the past many would only make tentative employment plans and arrive in the City without a secure job offer, most candidates are now trying to get an offer before they leave, which is fairly difficult to achieve in this market," says Lealuga.
And investment bankers beware, the popular roles for City-bound Australians are mainly in number-crunching functions. External reporting, product control, project accounting, and financial and business analyst positions are still sought after, according to Evans.
Junior job hunters might also get lucky. "We have definitely seen an increase in opportunities available in the London market, especially for candidates with one to four years' post-qualified experience," comments Lealuga.
In the short to medium-term, the flow of Australian candidates to London is still well below pre-crisis levels. "But it's already started to increase, and although levels aren't where they were in 2006/2007 - and won't be for a while - long-term damage is not anticipated," she adds.
Evans agrees: "As the UK market improves, candidates' confidence to make the transition will also improve. It will be a gradual process, rather than an influx, and will probably take some time to return to the volumes seen in 2007."
