London. A bustling global metropolis, a cultural hub bursting at the seams with art galleries, museums, and restaurants, suits in the Square Mile, politicians in Westminster, with the River Thames winding its way throughout a historic landscape.
A city the size of Los Angeles with the historic pedigree of Paris and the business heart of New York. It’s the beating heart of Britain’s economy and it is now the place for ambitious Brits looking to speed-track their career. The capital's economy is forecast to grow faster than any other region over the next five years and London is expected to account for almost a third of all UK growth over that period.
Lord Adonis’s Growth Review, published earlier this year, stated that ‘four-fifths of all net jobs created since 2010 are in London’. The capital has been pulling along the country’s economic recovery for years, and recently it has forged its way even further out in front.
London's skills shortage
The problem for employers – and the huge open goal for ambitious employees – is that there aren’t enough talented workers to fuel the demand. That means there are exceptional opportunities on offer for those looking to transfer into London from elsewhere. In particular, qualified accountants and audit and tax professionals are all highly sought after, with demand for these valuable skills boosted by aggressive recruitment drives at the Big 4.
For candidates interested in finance jobs, the capital offers a perfect storm of opportunity, higher wages, and prestigious career paths in world-class financial firms.
The concentration of finance firms in the City and Canary Wharf has numerous other advantages, too. It’s easier to network, easier to have meetings, and easier to get headhunted. And because London is a global city, finance workers are more likely to get exposure to cross-country teams, giving them the opportunity to stand out on the global – not just British – stage, helping them raise their experience to the next level.
The combination of these factors means that London is also an international jumping point; a city which equips its workers with the experience they need to live and work abroad, and to become international business success stories.
And, of course, those workers opting to rise to the challenge, are offered generous remuneration packages.
But higher wages aren’t all that London brings to the table. A third (30%) of British workers believe the capital offers more potential for promotional opportunities, a quarter (27%) say it gives them greater chances of skills development, 23% say London is home to more professional variety and a fifth (20%) think Londoners had an improved pace of life.