Actuarial Consulting

If 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 0800 294 4388 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 0800 294 4388 or Submit your Details and we will get right back to you!

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