I’M LEAVING ON A JET PLANE………. Reasons to pursue an overseas career..

Qualifying as a Chartered Accountant is like getting a ticket to move to the global location of your choice.

Let’s set the scene. You’ve just qualified and Very Big Plc is interested in interviewing you for a local position with solid career prospects. Meanwhile, your best mate is just about to set off on a round-the-world adventure and his light-hearted accusations that “you’ll have cobwebs all over you by the time I come back,” sets you thinking. Will he really return as a more rounded - not to mention tanned - individual in a few years time? How’s he going to sustain himself? What will the effect be on his career?  What other benefits could he possibly get from his move?

Career Development

There are numerous benefits in making an international move.  Overriding all has to be Career Development. International experience is often a pre-requisite for senior management positions. The Big Four firms have often stated you need overseas experience to make it to Partner level.  We live in a global economy – business is increasingly international and an understanding of other countries’ working policies, economic climate and conditions can be a real feather in your cap.

The move has completely exceeded my original expectations.  My client portfolio includes American oil companies, French media broadcasters, Japanese construction giants and high-profile Spanish opera singers.  The diversity of the clients has necessitated a steep learning curve but every single day brings something completely different, which is what I want from my career.  Liana moved to Qatar

Personal Development

One of the reasons the large firms rate highly international experience is that it is felt that someone who has pushed themselves outside their comfort zone doing things such as learning new ways of doing things, making new friends and setting up a new home, will have gained confidence.  This more confident person has time and time again returned into positions above the pier group they left behind.

Lifestyles

Some people go for English speaking, similar culture but better weather and consider Australia or New Zealand.   

If you are looking for more of a cultural change, you don’t mind the heat and the odd jungle trip then Africa may be your bag.  A penchant for the Oriental and cultural experiences? Then the Far East or Middle East will hold an obvious attraction. Sun sand sea sport and rum?  Then look no further than Bermuda and the Caribbean. 

If you have given any thought at all to moving overseas I would recommend you go for it. Although it can be a scary thought, once you are actually there you realise everyone else is in the same position and it is so easy to make friends. It is also a great chance to use your qualification to gain valuable experience from working in a different culture.

Joanne, moved from the UK to the Cayman Islands

Bit of hunger to learn or utilise a language skills then mainland Europe or South America could be the place for you.  Or you may wish to stay closer to home, whilst experiencing a different lifestyle, meeting new people and experiencing a better work/life balance, then perhaps the Channel Islands would be the place for you.

Money

Salaries are important but take care to consider the whole package.  Whatever happens you will be paid a fair salary and in some locations you will have your accommodation provided and a generous tax structure.  These days, don’t expect to make a lot of savings unless in a developing location.  There is often plenty to spend your money on and it is just as important to “live the life” and get as much experience as possible out of your contract.

Go for it! It's highly enriching and it makes you realise that there is a lot more to life than money and career development, such as just living somewhere different, making new friends, enjoying a lifestyle and work/life balance that suits your as a person.

Julie, moved from London to New Zealand

If you are considering a move overseas we suggest you visit:  www.thinkgr.com

Please do share this with anyone else you feel will be interested!  Thank you.

Moving Abroad for Work: UAE and the Finance Industry, contributed by Emma Lathom

According to the Quality of Life Report conducted[i] by the Centre for Future Studies for Natwest, nearly 150,000 Britons are emigrating from the United Kingdom each year. Encouraged by the ease of contact with family and friends abroad via personal technology and mobile devices, many British workers are looking for work abroad, particularly in popular business locations such as the Australia and the UAE.

Popular destinations
The Quality of Life Report found that Australia and Canada[ii] were the top two destinations for British expats, with Australia coming out on top for Britons. Around 40,000 people move to Australia from the UK each year and the country now has up to 1.2 million British expats. Despite the potentially high cost of living, the sunny climate and high quality of life makes it a popular destination amongst those seeking a fresh start.

According to the report, the UAE beat the US and Hong Kong[iii], coming third on the list, with 75% of those surveyed suggesting that one of their main reasons for moving there would be career opportunities. Dave Isley, head of Natwest International Personal Banking[iv], suggests that this shift in views is one of the most notable in many years, with a large number of Britons stating that they’re willing to adjust their lifestyles in order to enjoy the stronger economy and better job opportunities available in the UAE.

The benefits of UAE
The UAE has quickly become one of the go-to destinations for British expats working within many industries. In general, the lack of tax is beneficial for any expats looking to earn a good money while avoiding outgoings. However, job growth is also causing Britons to flock to the country. According to the Monster Employment Index for the Middle East, banking, financial services and insurance[vi] sectors registered the maximum number of online job opportunities in the UAE, with a 9% grow year-on-year. This growth is only expected to increase after the UAE unveiled a new law[vii] that will aid job creation across the emirates.

The new law, which is currently being finalised, is aimed at boosting entrepreneurship using incentives as a means of creating jobs for a growing population. UAE Finance Minister Sultan bin Saeed Al-Mansouri says he believes that the law, which allocates 10% of the development bank capital to go towards helping the businesses, will come into effect within the second quarter of 2014, helping national and international workers within the financial sector to create a business of their own.
Of course, those wishing to enter the UAEs financial and accountancy sector via an already established company[viii] will also benefit from the country’s recent boost in attention[ix] from across the globe. According to Olivier Meier, senior mobility consultant at Mercer, an increasing number of foreign workers are being sent to the UAE for both short and long-term assignments due to the country’s new position as a key global economic hub.

Why Dubai?
Within the Emirates, Dubai is rapidly becoming one of the most popular expat destinations for finance and accountancy workers. The main draw for expatriates to Dubai is the zero rate of income tax, but financial workers are also attracted to the country to take advantage of its rapidly growing financial sector and the increasing job opportunities appearing as the industry booms.

This boom is partly down to the emirate’s recently unveiled plan to become the Islamic economic hub[x]. In December 2013 the Dubai government set up a new body for the financial sector, the Dubai Islamic Economy Development Center. As part of Dubai’s goal, the center will provide legal and other services to companies within the Islamic banking industry, boosting growth and encouraging the emirate’s transformation into an economic hub. However, this growth is leaving a shortage of qualified workers in the sector, and so has prompted a search for talented financial professionals. 

In order to bridge this gap, many institutions and companies within the banking industry are developing strong intern programmes to provide hands-on training for younger bankers looking to gain practical experience in Dubai. Muneer Khan, a partner at law firm Simmons and Simmons Middle East[xi], has highlighted the role that international workers should play in the development of Dubai’s finance sector, suggesting that expatriate bankers are required to help globalise the Islamic economic sector.

However, Mr Khan also stresses that many Dubai banks are unwilling to hire international staff without the right experience. Managing director of the Dubai International Academic City[xii], a free zone for international university campuses in Dubai, has highlighted the importance of training and education within the Islamic economy, and argues that the emirate is working hard to help international workers enter the industry. He suggested that industry experts, government officials and leading academics are already working together to identify the skills gaps within Dubai’s finance industry and help national and international workers develop the required skills to meet the sector’s needs.

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[i] Gulf News http://gulfnews.com/business/general/thousands-of-britons-relocate-every-year-outside-their-county-1.1328497
[ii] The Telegraph http://www.telegraph.co.uk/finance/personalfinance/houseprices/10803090/Is-Dubai-the-new-Spain-for-British-expatriates.html
[iii] Al Arabiya News http://english.alarabiya.net/en/life-style/travel-and-tourism/2014/05/05/Fun-in-the-sun-British-expats-prefer-UAE-over-Europe-and-U-S-.html
[iv] Natwest International http://www.natwestinternational.com/nw/personal-banking.ashx
[v] Quotezone http://www.quotezone.co.uk/debt-help.htm
[vi] Emirates 247 http://www.emirates247.com/news/emirates/looking-for-uae-job-sectors-with-most-opportunities-2014-04-22-1.546572
[vii] Arab News http://www.arabnews.com/news/555126
[viii] United Arab Bank http://www.uab.ae/cms/
[ix] Gulf News http://gulfnews.com/business/general/uae-a-hot-spot-for-overseas-assignments-1.1325425
[x] The International News http://www.thenews.com.pk/Todays-News-1-244105-Dubai-seeks-to-become-Islamic-economic-hub
[xi] Simmons & Simmons http://www.simmons-simmons.com/en/Locations/Middle-East
[xii] Dubai International Academy City http://www.diacedu.com

VACANCIES ACROSS THE UK RISE AT THE FASTEST PACE SINCE MAY 1998

KPMG and REC’s Report on Jobs’ for January shows a strong growth in permanent vacancies and increase in shortage of candidates available. December’s report also showed a six year peak in salary growth.

Think Global Recruitment has been assisting firms across the globe recruit accountancy and finance professionals for over 14 years.  In that time Think Global Recruitment has seen the 2000/2001 down turn and now the World Wide Global Recession.   The findings of this survey have not surprised Abigail Stevens, Managing Director.  However, she is delighted that this is a sign that the economy is strengthening.  Abigail herself has over 18 years recruitment experience and commented ‘Banks and Professional services companies often study our industry’s performance to gauge what is happening in the economy.  We were amongst the first to see the recession coming, as companies started to put recruiting new staff on hold and now we are seeing a sharp increase in the number of vacancies available, indicating the economy has to be improving.  We literally watched as it went into recession, country by country and now I am delighted we can see a similar reverse effect in most locations throughout the globe.’

  

Commenting on the latest survey results, which is carried out by Markit, Bernard Brown, Partner and Head of Business Services at KPMG, said:

“Employer confidence continues to grow, with the thirst for new staff hitting a fifteen-and-a- half year high in January. In a week showing improvements to UK construction figures and growth across the Eurozone manufacturing industry, it shouldn’t come as a surprise if other sectors begin to report peaks in performance.

“Yet no one should be fooled into thinking that the road ahead will be easy to travel. Earlier this week markets across the globe fell as investors were rattled by weak data. It’s unlikely to herald a crisis, but should serve to ensure employers remain vigilant to business threats.

“The warning has been noted by employees because, although jobs are being created, January saw another decline in the number of people putting themselves on the jobs market. The preference seems to be for temporary roles, suggesting that employees are adopting a ‘try before you buy’ mentality before committing to long-term roles.”

The main finding for January are:

Further sharp rises in permanent placements and temp billings

Permanent staff placements continued to increase strongly in January, although the pace of expansion eased from the 45-month high recorded in December. Similarly, temp billings

rose at a rate only marginally slower than December’s 15-year peak.

Strongest growth of demand for staff since May 1998

Overall job vacancies rose at a sharp and accelerated rate in January. The pace of expansion was the fastest in over fifteen- and-a-half years.

Permanent salaries continue to increase markedly...

The rate of growth of permanent staff salaries remained elevated at the start of 2014, holding at a pace broadly in line with December’s six-year peak.

...amid declining availability of candidates

Further falls in staff availability were signalled in January. Both permanent and temporary candidate numbers declined at marked rates, albeit the slowest in three months.

Abigail has pointed out the last summary fact is one that we should all be aware of.   It is great news the economy is picking up.  However, this will mean more competition for good quality staff and a smaller pool to choose from.   Abigail said ‘although firm’s have learnt a little from the 2000/2001 down turn and tried hard to not decrease staff numbers, in particular trainee’s, with this recession going on so long, they had no choice.  This means that between 2014 and 2018 I am predicting demand for qualified accountants to get higher and higher and those available to decrease.’  

The good news for those using Think Global Recruitment is that, being one of the longest established international accountancy and finance recruitment consultancies, we have predicted this pattern and therefore put into place a strategy to ensure that we continue to have the best available professionals for our clients requirements.   We are also creative and always happy to talk to organisations regarding ways they can attract those hard to find accountants to join their teams.

HAPPY BIRTHDAY TO THINK GLOBAL RECRUITMENT!

It was big celebrations at the Think Global Recruitment HQ in Edinburgh this week, not only have we secured new positions for a number of professionals seeking international moves but we also celebrated our 13th Birthday. It was the 7th July 2000 that the company was formed and ever since then we have made it our mission to IMPROVE LIVES of everyone we work with.

From a team of 3 that had a small office space in Edinburgh to now having a penthouse HQ that looks onto Edinburgh Castle and having placed professionals all over the World from Australia to Canada and everywhere in between.

It is an exciting time to be part of the company as it continues to grow and develop. We recently launched an International Oil and Gas division to go along with the International Accountancy and Finance.

We have also recently started a series of webinars where we present information to professionals who are looking to gain advice on many different areas of the recruitment process whether it is internationally or locally. To keep up to date with when the next webinar is please click here and we are more than happy to take suggestions as to content and subject matter that we discuss.

Here's to success for the next 13 years!

Cheers!

TGR HQ

THINK GLOBAL RECRUITMENT LAUNCH GLOBAL RECRUITMENT WEBINARS

Last month Think Global Recruitment launched ‘Global Recruitment Webinars’ allowing the company to invite industry leaders in both recruitment and accountancy to present to professionals on a host of topics.

Presented by Abigail Stevens (Managing Director– Think Global Recruitment), the first webinar discussed ‘Interview Preparation’ and was presented to an enthusiastic audience. Covering the full interview process from phone, video and all the way to face-to-face, Abigail has almost 20 years recruitment experience and has conducted literally thousands of interviews both for internal and external vacancies, covering a whole variety of roles and therefore knows every potential pitfall and is excellently placed to advise professionals seeking advice.

Although a new service line for Think Global Recruitment it is something that the company hugely enjoyed setting up and promoting. Abigail Stevens received great feedback from the participants. They all agreed that they felt far more confident and prepared for any interviews in the pipeline. All attendees that supplied feedback noted that they are more aware of how imperative it is that you tailor each application to the role and company that you are applying for.

Some top tips that were discussed in detail were:

TOP 10 TIPS TO ENSURE A SUCCESSFUL INTERVIEW PROCESS

1. Research - Read up on the company and do your research. Look at web site, financials, media page etc (keen)
2. Key Skill - Know what key skills are required and whether you have them (capable/confidence)
3. Practice - Practice answering difficult questions - Put yourself in the interviewers shoes
4. Salary - Never bring up the topic of salary before the interviewer does.  It is often best to discuss salary at offer stage. Ensure they know its not all about money (keen)
5. Most important - The interview practice is invaluable. It’s better to turn down an offer than be rejected. You may decide mid-interview that you really want the role but interviews feedback shows you have already blown it by that time (first five minutes)
6. Recap - Recap through your experiences.  Know your key achievements
7. Sell Yourself - Be confident in an interview but do not rely on your CV.  Remember to sell yourself.
8. Turn weaknesses into positives
9. Questions - Prepare questions before the interview (keen)
10. Closure - Ask what the next step will be and   indicate that you are keen (keen)

  

The GlobalRecruitment Webinars are an opportunity for professionals who are considering their next career move to receive first-hand advice on such things as ‘Interview Preparation’, ‘Living and Working on Offshore Islands’ and ‘Living and Working in Emerging Markets’. We are always open to suggestions on subject matter and topics that can be discussed so please feel free to leave a comment in the space below of any suggestions of topics.  We look forward to meeting you there.

The next two webinars cover the following:

Interview Preparation - 11th July 2013 at 10:30am GMT
Living and Working on Offshore Islands - 18th July 2013 at 7pm GMT

WORLDWIDE OPPORTUNITIES FOR EXPERIENCED ACCOUNTANTS

There is a world of opportunity out there for experienced and qualified accountants,   maybe not as much as pre global down turn; however, there are still plenty of roles available if you look across the global market. Accountancy is still a profession that is in high demand.

The main effect of the current economic climate for experience accountants seeking a new role is that potential employers are focused on finding specialists and often have very specific skills/experience criteria they seek to match. 

 

There is another interesting swing around the globe also worth noting.  Insolvency is in high demand in a number of countries, including Australasia and the Caribbean and on the reverse side Transaction Services is in demand in Europe.  

Language skills, in particular fluent German or French, can be a ticket to secure very interesting, sought after roles throughout Europe, including Switzerland. Alternatively, Mandarin and a proven track record of career progression is appealing to employers in Hong Kong, China and Singapore, whilst Arabic speakers can enjoy an excellent career throughout the Middle East.

Audit experience in the financial services sector will secure that offshore experience, weather it is the Channel Islands, Caribbean or Luxembourg.   

Audit remains the skill in the largest demand. Mainly because CA firms are the biggest employer of accountants and they need a large number of auditors to service clients who have to be audited.  In the current market employers generally require experience of auditing the relevant sector their clients are in.

The demands of employers have definitely tightened up. Historically they would be happy to cross train sectors and provide language training.  

However, it is highly likely criteria will open up again as the economy stabilises again.  Previous financial down turns and recessions have seen a high demand for experienced accountants in the following years and there are signs this will happen again.  Although many firms tried not to decrease the number of trainee accountants they hired in recent years, they had no choice in the end. We are also seeing statistics that show new generations are not choosing accountancy as a career, which will lead to a further shortage.

A recent survey published by the Education and Employees Taskforce targeted 11,000 13-16 year olds in a bid to chart the job aspirations of teenagers against the employment market from now to 2020. It stated that less that one in 30 young people are currently considering jobs in banking and finance which will result in experienced accountants being in even more demand.

A report conducted by Markit, surveying the UK job market has documented a rise in the need for both permanent and temporary accounting/financial professionals from 2012 to 2013. The report which collates data supplied by recruitment agencies also noted that the key skills that are in short supply in accountancy is ‘Accounts, Audit Managers, Credit control, M&A, Tax and Purchase ledger’.

       

With the job market gradually improving both internationally and domestically and the need for experienced accountants and their skill set greater, the openings for accountants is on the rise and the opportunities are better and will continue to increase. Having an ACCA qualification is your ticket to opportunities all over the world and the future looking far more positive than it has in recent years.  

Written by Abigail Stevens, Managing Director, Think Global Recruitment

ACCOUNTANCY WORLDWIDE ONLINE WEBINAR

Dear Reader...

OK, so, some blatant advertising below...However, I just didn't want anyone to miss out on this.  

Everyone know's they have a strength at something and interview preparation is most certainly an area I receives excellent feedback on.  I thought I should share the extensive experience I have in this area.   If you sign up and do not feel you received value for money from this Webinar, please do let me know and I will refund your registration.

Happy to receive feedback after on this blog.

Kind regards,   Abigail 

ACCOUNTANCY WORLDWIDE ONLINE WEBINAR

 Interview Preparation for Career Progression(Video/Phone/Face to Face) 

Thursday 6 June 20137pm UK time 8pm Central European/South African time 

Presenter:  Abigail Stevens, Managing Director,Think Global Recruitment

Fellow Recruitment and Employment Confederation

Interviewing can be nerve racking enough, but sometimes the thought of doing it by phone or video conference can be even harder to get your mind around. This valuable, not to be missed webinar will not only cover the various types of interview techniques for face to face interviews, but also tips on getting through a telephone or video interview.

The topic of discussion will be ‘Interview Preparation for Career Progression – Video/Phone/Face-to-Face’ and will be delivered by Abigail Stevens who has around 20 years’ experience assisting professionals secure roles throughout the globe.

This amazing opportunity will give professionals who are interested in advancing their career, now or in the future, the opportunity to find out what it is required of them during the interview process, providing hints, tips and advise on potential stumbling blocks.

This webinar that could improve your life costs just £10 (c. 11.70 €) to attend. To register and pay please follow this link:

http://www.eventbrite.co.uk/event/6797789371

To allow us to tailor the presentation for the audience or if you have any questions please contact Gordon Barclay via email – gbarclay@thinkgr.com or telephone +44 131 260 5850.

We look forward to registering you for this special event.  Please feel free to share this with others that would be interested in attending.

EVENT INFORMATION

Presenter

Abigail Stevens FRIP

Program Title

Interview Preparation for Career Progression (Video/Phone/Face to Face)

Presenter Biography

Abigail Stevens is professionally, exam and time qualified as a full member of the Recruitment and Employment Confederation (REC). Having spent 8 years working in marketing, Abigail moved into the recruitment industry in 1996 and founded Think Global Recruitment in 2000. In the 18 years since Abigail has placed accountants at all levels, all over the world and has experience of living and working in Australia,England and Scotland. Throughout her career Abigail has traveled extensively conducting presentations and networking with global organizations and institutes and has presented to ICAS and ICAEW members as well as MBA University students, she has visited; UK, Ireland, Wales, Channel Islands, Isle of Man, France, Germany, Luxembourg, Italy, Holland, Spain, Prague, Poland, Boston, LA, San Francisco, Miami, Chicago, Cayman Islands, Bermuda, Grenada, Australia (lived 3 years), Hong Kong, Singapore, Malaysia, Bali, Thailand, Cambodia, New Zealand, Egypt, Dubai, Abu Dhabi, South Africa, Canada.

Program Summary

Together we will explore the full interview process and how to successfully secure that opportunity of your dreams.  

We will cover not only generic tips, but specific techniques for the international interview process including telephone and video interviewing.  Interviewing can be nerve-wracking enough, but sometimes the thought of doing it by phone or video conference can be even harder to get your mind around.   This Webinar will leave you feeling confident and capable of carrying out the very best interview you can and allow you to put your questions to an expert in the field.