0330 390 9021
info@commonwealthcontractors.comIf you’re a qualified Actuary you may find it much easier to secure Tier 2 Work Permit Sponsorship with a UK Employer now that a number of Actuarial roles have been placed on the UK Border Agency’s Shortage Occupation List.
In November 2011 the UK Border Agency added qualified Actuaries working in the Life Assurance, General Insurance and Health & Care Sectors to the Shortage Occupation List. The move means that Tier 2 Licensed Employers no longer have to meet the Resident Labour Market Test before assigning or applying for a Certificate of Sponsorship.
Are you a qualified Actuary? If so we want to hear from you! At Commonwealth Contractors we work with a number of Employers & Consultancies who are actively looking for highly skilled and experienced actuaries.
Our partners are Tier 2 licensed and may be prepared, where required an appropriat, to sponsor an Actuary on a Tier 2 General Visa. To find out more call now on 0330 390 9021 or Submit your Details and we will get right back to you!
Life Assurance & General Insurance Pay Rates
In order to qualify for sponsorship as an Actuary under a Tier 2 General Shortage Occupation code you must be working in a role which pays at least a base salary of £42,000 per annum. A the tables below show, this level of earnings will usually be achieved by the majority of senior experienced Actuarial professionals, although a package value may include a bonus and unless the bonus is guaranteed it does not count towards the £42,000 required
The following two tables set out average UK earning bands for Actuarial roles in 2010.
LIFE ASSURANCE PAY RATES |
||
ACTUARIAL JOB |
Low end package |
High end package |
| Head of Department | £75,000 | £125,000+ |
| ALM Actuary | £70,000 | £125,000 |
| Solvency II Actuary | £70,000 | £125,000+ |
| Risk Management Actuary | £65,000 | £95,000 |
| Pricing Actuary | £55,000 | £85,000 |
| Capital Modelling Actuary | £55,000 | £85,000 |
| With Profits Actuary | £55,000 | £75,000 |
| Financial Reporting Actuary | £50,000 | £75,000 |
| Senior Actuarial Analyst | £35,000 | £48,000 |
| MoSes / Prophet Contractor | £300 per day | £1,200 per day |
GENERAL INSURANCE PAY RATES |
||
ACTUARIAL JOB |
Low end package |
High end package |
| Head of Department | £75,000 | £125,000+ |
| Risk Management Actuary | £65,000 | £110,000 |
| Personal Lines Actuary | £60,000 | £100,000 |
| Commercial Lines Actuary | £60,000 | £100,000 |
| Senior Actuarial Analyst | £35,000 | £55,000 |
Many prospective employers are known to enter bidding wars in order to secure the right person and although some find that their internal HR policies prevent them from increasing annual salaries by £15,000+ to land the right person, they may be prepared to offer a guaranteed bonus or other such incentives to tempt them to join.
Find out More
To find out more about Commonwealth Contractors call now on 0330 390 9021 or Submit your Details and we will get right back to you!
