Accounting is widely known as one of the most popular migration pathways in Australia — if not the most popular. Yet, another closely related business discipline —Finance— has always had a reputation for beinghard to migrate on.

The frustration of Finance graduates…

Some students who chose Finance as their major find themselves grudgingly pivoting to Accounting after graduation, taking bridging courses just to qualify for migration…

Others, despite a genuine interest in the finance industry, avoid choosing the field as their major precisely because of migration concerns…

And there are plenty of seasoned professionals with years of finance experience — both overseas and in China…

Yet Finance is undeniably one of the mostsought-after careers;

the finance industry isone of Australia’s signature industries, especially in Sydney, New South Wales.

Does that really mean career and migration are mutually exclusive? Must you choose one or the other?

NO!

Finance graduates can migrate too!

Today we’ll talk through exactly how to plan your skilled migration if you’re currently working in finance — or planning to. Here are the three questions we get asked most, answered one by one:

“Which finance-related occupations are eligible for skilled migration?”

“Has skilled migration completely closed the door on finance occupations?”

“Which state should I target for the best migration outcomes in a finance occupation?”

Which finance-related occupations

are eligible for migration?

First, to answer the initial question: there are actually many finance-related occupations that qualify for migration — for example, 222311 Financial Investment Adviser, and 222112 Finance Broker, among others.

Today, let’s useFinance Brokerthis relatively common occupation as an example.

The main duties of this occupation involve recommending loan packages tailored to clients’ needs, and arranging insurance, home loan mortgages, and other forms of financing through banks, lenders, financiers, and insurance companies.

This occupation is closely aligned with a Finance degree, and according to the Skilled Occupation List, it is eligible for190/491 state nomination under the skilled migration streamwith a relatively broad range of options.

*Please note: Australian skills-assessment authorities categorise similar occupations in very precise ways — similar job duties may result in a different occupation being assessed.Therefore, it is essential to consult a professional who can analyse your specific circumstances and identify the most suitable occupation.Skills assessment is the fundamental first step in Australia’s skilled migration process — if you get stuck at this stage, you may end up working twice as hard for half the result.

Get in touch with us to assess your occupation

Planning your migration —

which state should you target for nomination?

Looking at the situation across all states, and focusing specifically on Finance Broker for now,South Australia’s state nominationis, compared with other states, the most accessible in terms of bothapplication threshold and overall difficultylower.

Taking New South Wales as a comparison: NSW currently requires Finance Brokers to have 70 points, a skills assessment, and one year of work experience. However, this occupation only appears on NSW’s Subclass 491 list — meaning that even if applicants work hard to meet the requirements, they cannot obtain a direct-to-PR pathway.

South Australia’s policy is comparatively much more generous, particularly forinterstate graduates— a minimum of65 pointsis all you need; 65 points is the floor!

According to the current data on the official website, for applicants working in South Australia,meeting just 65 points, a skills assessment, and 12 months of work in a nominated occupation or a related field in South Australia qualifies you for the Subclass 190 state nomination; 6 months qualifies you for the Subclass 491 state nomination.

Some readers might see the one-year work requirement and feel the bar is a bit high?

However, this is also the requirement for the skills assessment — meaningone job has the potential to satisfy both the state nomination and the skills assessment requirements simultaneously.

Those 12 months are absolutely worth it!So now let’s talk about the skills assessment.

Finance broker

Skills Assessment

VETASSESS’s official requirements for the Finance Broker skills assessment call forone year of full-time work— and the full-time hours threshold here isno fewer than 20 hours of work per week.

This means applicants — especially those from interstate — can make the most of that year to simultaneously satisfy the skills-assessment requirements and the state nomination work requirements. Maximise your time; don’t let your best years go to waste.

Our recentFinance Broker skills assessment success stories

However, you probably also have questions about

what exactly constitutes ‘relevant work’ and ‘relevant qualifications’ for the skills assessment — here’s a brief overview.

Relevant qualificationsrefers to the requirement that the applicant’s field of study must be closely related to the nominated occupation. For Finance Broker, based on the information displayed on the VETASSESS website,graduates in Finance, Economics, Accounting, Business, Management, and General Commerce are all considered to hold highly relevant qualifications.

As for relevant work— this is assessed against several factors. First, the applicant must be

in paid, full-time employment (working at least 20 hours per week), and the applicant’s job duties andthe nature of the work must align with the information listed for that occupation on the ANZSCO website.

Please note: a PhD student’s research project cannot be treated as employment, as VETASSESS does not accept doctoral research supported solely by a living allowance or scholarship.

Feel free to contact us for a consultation on skills assessment and South Australia state nomination!

Success Story

In the meantime, we also have good news to share: we have successfully assisted a Finance Broker applicant in obtaining the Subclass 190 visa through South Australia state nomination with 70 points!

This applicant

applied for their skills assessment on 2021.6.7

Skills assessment came back at lightning speed on 6.12!

Submitted the South Australia Subclass 190 nomination on 6.16

Received an invitation at lightning speed on 6.17 — approved the very next day!

This invitation turnaround yet again proves just how powerful the South Australia state nomination is!

So to all you finance workers — don’t be discouraged; your good fortune is just around the corner!

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Offshore + engineering + minimum points to obtain PR

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A record of 5 years of migration experience — being different comes with a cost

A record of 5 years of migration experience — being different comes with a cost

A record of 5 years of migration experience — being different comes with a cost

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