Salaries are available in the Isle of Man
While many sectors of the internet (such as finance and gaming) aren’t impacted negatively by COVID, there’s generally a consensus across the UK as well as the Isle of Man to keep costs as low as is possible.
Although many industries suffer, online gaming in the Isle of Man appears to keep the island in a stable state: salaries within the Isle of Man remain generous as the average monthly salary averaging PS2,674.37.
What are the most important industries in the British Isles?
Gaming, banking and finance are growing sectors on the Isle of Man and are the top employers as well as the tech and film industries also are major employers on the island.
The impact of COVID on Isle’s biggest industries
Gaming and technology have remained strong throughout COVID and, even though certain financial markets have seen a drop however, there’s an appetite for growth which is good news in the Isle of Man.
Corporate services and trust/fund administration companies are also performing exceptionally well and have been completely unaffected by the current state of affairs. However, there is a different situation for ‘on ground’ igaming industries such as casinos and gaming venues that have experienced a greater impact of the pandemic.
This industry is seeing their retail/land-based businesses being affected and they are hiring candidates that have been affected.
Visit this website for information on what jobs are on the Isle of Man.
Number of active job seekers on the Isle of Man
The unemployment rate on the Isle of Man currently stands at 2.6% of the workforce which is equivalent to 1,133 people. This is lower than highest point of the pandemic in April of 2020 the time when unemployment was at an all-time high of 1,347.
A “urgent necessity” to retrain a large portion members of the Manx workforce suggests that many of those in the workforce who are not working in this area of the Isle of Man may have been dismissed from low-skilled positions. The Manx government has promised to provide up to 1,000 job opportunities and retraining programs in the PS100m Economic Recovery Fund. Around 700 job vacancies were notified to the Jobcentre in August, with 60% of these are full-time jobs.
What exactly does the job hunting process look like in British Isles?
Interviewees can expect video calls to be the norm for a little longer, thanks to COVID-19. However, there may be one face-to-face session further down the line where could be a possibility.
What can we do to rethink working on location?
Many offices have been shut down after the coronavirus epidemic first began to spread across the globe in March. However, while some sectors (e.g. financial services) are opting for the more traditional approach and are trying to get back to the office, others including those within the gaming and tech space – have closed their offices and are working remotely for at least the duration of this year.
We’re also seeing a massive increase in the number of jobs located – especially in technology-based firms. We’ve seen three distinct types of remote working: a complete nomad approach in which employees work from any place and at any hour; flexible office working, permitting employees to work at any office of the company, working at any time however, within similar (or similar) or similar time zone.
What is the difference between it and the rest of the world?
The job market in the Isle of Man is still extremely strong, which is something we’re seeing in other iGaming top players like Malta. However , mainland UK is struggling.
However the US iGaming marketplace is also expanding exponentially, however candidates face obstacles including US passport / green card conditions.
What will the future look like?
Within the Vision2020 plan for growth in the economy on the island, the Isle of Man government laid out a plan for the nation to ensure to boost the economically active population. It promoted the Isle as an Enterprise Island known as ‘Tech Isle ‘Manufacturing centre of excellence’ an offshore energy hub’, ‘Destination island’ and for ‘Distinctive local food and drinks’.
The government also has published its national economic strategies , which cover diverse emerging sectors like biomed, aerospace, digital media and ICT.
It’s hard to tell at this stage how much COVID-19’s effect on this initiative. A PS100m fund has been set aside to help to help the Isle of Man economy bounce off the effects of the Covid-19 outbreak, and Treasury Minister Alfred Cannan saying the pandemic had posed an “immediate credible, serious and immediate threat” to the economy of the island.
However, this Isle of Man still appears to be playing catch-up in the future-proofing of industries like tech, finance and iGaming.
Conclusion
Overall, it appears it appears that the Isle of Man have followed the same pattern as other parts of the globe. Industry sectors that were shut during the pandemic have had the greatest impact, while the ones which maintained their operations have seen little to none negative effects from COVID – with some even seeing some growth.
Owing to the proportion of industries that are online on the island, the economies in the British Isles seem much more stable than the mainland UK and the overall wages remain higher.
Job seekers looking to relocate or seek employment within or work in the Isle of Man have a number of options but they may not have the same leverage regarding salary levels as they did pre-COVID owing to the high demand for available jobs today.