The financial services sector, which is closely tied to, (but distinct from), the insurance industry, contributes more than £125 billion to the UK economy each year. More than 50% of the sector, including both job opportunities and overall revenue, is based in London. Birmingham is the next largest centre for jobs in the industry, but employment prospects are by no means comparable to those in London. There are just over one million people working in financial services today, and the sector has seen significant growth since the late 1990s. This growth is projected to continue in years to come.
For entry-level positions in the field, salaries start at around £15K. Those with more experience in senior roles can earn upwards of £55K each year. The overall average is about £25K for professionals throughout the UK. In London, however, this average is substantially higher, and rises to about £45K. Northern Ireland is the next highest paying region, with an average income of about £36K.
Some common positions available through recruitment agencies are in the areas of credit control, financial advisory, and tax compliance. Professionals in the industry need a strong background in mathematics, advanced degrees in areas such as economics or accounting, and often certain position-specific national certifications.