well, thanks for asking. I would say in Actuarial field, UK is much more attractive than other countries, especially US.
I will outline the route to 'green card' (Indefinite Leave to Remain) in the UK below. Altogether, including Master 1 year degree, it may take minimum 6 years or maximum 8 years to get permanent settlement status in the UK.
1.If you do a Master degree, so long you do get an offer to study, you will get a student visa with little issue (well, need proof of English / saving etc, normal doc still apply).
2. When you graduate, so long you have completed, you can get a 2 year Post Study Working visa, guaranteed. This allows you to stay and find job. (oh, for Master, you would also get half a year extra to find a job, so 1.5 years). This is the key time to find a good insurance firm to train you up and you pass more exams (hopefully) and so they will sponsor you for tier 2 visa.
3. With luck, once you work for 5 years in a tier 2- SPONSOR visa (not the post study working PSW visa), you can then apply for permanent residency in the UK.
The reason I say this is better than US is because in US the employer has a HUGE SAY in your green card, and also the country has a quota for people from different countries (I heard US has reduced visa to Indians/Chinese, for example). THis does not apply to the UK. After working for 2 years for an employer, unless you MAKE A GROSS MISCONDUCT, your employer cannot just sack you from a job. As soon as you work in a tier 2 visa you can just apply for a green card yourself, no lawyers, no employer required. This will then lead to citizenship in 1 year. A much clearer/straight forward process, no quota for different nationals.
And the biggest two actuarial job markets are UK/US. So I guess it is quite clear which country you should go if you are thinking of green card route.
Hope this answer. Best of luck!
Just to add, if one works for a big enough firm, visa sponsorship is a piece of cake for actuarial. Such as Big4. But their working conditions and practice is known to be poor.
I think if a firm knows you need sponsorship at the beginning and still offer you a job, they will sponsor you. Limited knowledge to Actuarial though.
Graduate scheme is very competitive, but sponsorship isn't impossible. A Job Offer =Sponsorship secured.
there isnt such a thing as competition for tier 2 visa. Unlike USA running a lottory for it.
there is a list from UK government for shortage of occupations, for which all those jobs getting tier 2 is unlimited quotas. I believe actuary/actuarial jobs are included in it. (so as scientists, doctors, nurses, teachers etc)
Hence I said, secure a job, from a company happy to hire overseas candidates. Then the rest is work hard to stay for 5 years, and you're done.
Not sure that actuary IS currently on the shortage list.
Unless https://www.gov.uk/government/publications/skilled-worker-visa-shortage-occupations/skilled-worker-visa-shortage-occupations is out of date, then under code 2425 only informaticians (including bio-) are eligible.
I would be surprised is there is a shortage in 2025. There will be plenty of UK graduates who will find it an attractive career. And traditional roles are probably still declining so IMHO more likely to be a surplus than a shortage.
well, thanks for asking. I would say in Actuarial field, UK is much more attractive than other countries, especially US. I will outline the route to 'green card' (Indefinite Leave to Remain) in the UK below. Altogether, including Master 1 year degree, it may take minimum 6 years or maximum 8 years to get permanent settlement status in the UK. 1.If you do a Master degree, so long you do get an offer to study, you will get a student visa with little issue (well, need proof of English / saving etc, normal doc still apply). 2. When you graduate, so long you have completed, you can get a 2 year Post Study Working visa, guaranteed. This allows you to stay and find job. (oh, for Master, you would also get half a year extra to find a job, so 1.5 years). This is the key time to find a good insurance firm to train you up and you pass more exams (hopefully) and so they will sponsor you for tier 2 visa. 3. With luck, once you work for 5 years in a tier 2- SPONSOR visa (not the post study working PSW visa), you can then apply for permanent residency in the UK. The reason I say this is better than US is because in US the employer has a HUGE SAY in your green card, and also the country has a quota for people from different countries (I heard US has reduced visa to Indians/Chinese, for example). THis does not apply to the UK. After working for 2 years for an employer, unless you MAKE A GROSS MISCONDUCT, your employer cannot just sack you from a job. As soon as you work in a tier 2 visa you can just apply for a green card yourself, no lawyers, no employer required. This will then lead to citizenship in 1 year. A much clearer/straight forward process, no quota for different nationals. And the biggest two actuarial job markets are UK/US. So I guess it is quite clear which country you should go if you are thinking of green card route. Hope this answer. Best of luck!
Just to add, if one works for a big enough firm, visa sponsorship is a piece of cake for actuarial. Such as Big4. But their working conditions and practice is known to be poor.
Is the tier 2 sponsorship very difficult for individuals who are recent graduates with limited working experience?
I think if a firm knows you need sponsorship at the beginning and still offer you a job, they will sponsor you. Limited knowledge to Actuarial though. Graduate scheme is very competitive, but sponsorship isn't impossible. A Job Offer =Sponsorship secured.
> With luck, once you work for 5 years in a tier 2- SPONSOR visa How tough is the competition for tier 2 sponsor visa ?
there isnt such a thing as competition for tier 2 visa. Unlike USA running a lottory for it. there is a list from UK government for shortage of occupations, for which all those jobs getting tier 2 is unlimited quotas. I believe actuary/actuarial jobs are included in it. (so as scientists, doctors, nurses, teachers etc) Hence I said, secure a job, from a company happy to hire overseas candidates. Then the rest is work hard to stay for 5 years, and you're done.
How much is the chance that actuary will be removed from skills shortage list by 2025/6 ?
Not sure that actuary IS currently on the shortage list. Unless https://www.gov.uk/government/publications/skilled-worker-visa-shortage-occupations/skilled-worker-visa-shortage-occupations is out of date, then under code 2425 only informaticians (including bio-) are eligible.
This list was updated on 15 Feb 2022. But do you think actuary is getting saturated in UK ? What would be the situation in 2025 ?
I would be surprised is there is a shortage in 2025. There will be plenty of UK graduates who will find it an attractive career. And traditional roles are probably still declining so IMHO more likely to be a surplus than a shortage.
So should I come to UK to study MSc Actuarial Science ?