Why Level 4?

In previous years it was impossible to get a pension or investment review contract without substantial experience. These days, all you need is to be level 4 qualified then it’s down to you to pass the assessment / interview. Why? Simple supply and demand dictates this. There are currently projects running in Manchester, Newcastle, Liverpool, Bristol, Normanton and Glasgow for many of the major banks. They all have the same mandatory requirement for their reviewers to be level 4 qualified, which leaves a significant shortfall in available candidates.

With some focused dedication you could be level 4 qualified within 9 months or at least part way qualified, which is sometimes enough to get through the application stage. These projects are only at the initial stages and there are years of work ahead that can provide you with a substantial amount of earnings for very little initial cost.

A few more reasons why…

  • Contract Variety – having level 4 opens the door to many roles that can provide you with valuable experience in different fields such as Investment / Pension reviews, Complex Complaint handling, Remediation projects, Derivatives, Anti-money laundering (AML), Know your client (KYC) and many more. You will have the flexibility to move when you tire of the role or want to experience something different. Furthermore, once you get on to a contract it is a lot easier to switch roles into other parts of the project than if you were to try externally. This can enable you to get some valuable experience in a role that you would like your future career to progress into.
  • Higher Day Rate – The average contractor daily rate working in PPI or complaints is £150. The average day rate for a contractor that is level 4 qualified is £275. £125 doesn’t appear much, but if you project that across a working year (48 weeks), that gives a difference of £30,000. Would you like to earn an additional £30,000 a year on top of what you’re already getting?
  • Different Location Options – rather than being restricted to certain locations that are running contracts that you can get on with your current skill set and experience; you will have your pick of multiple locations throughout the UK and sometimes further (Momenta advertised a role in Sydney in 2015). This can be a great opportunity to make new friends and experience life in another city without committing to a full relocation.

Average Day Rate

Annualised Earnings (exc VAT)