Working abroad

[sak07]

Im graduating in twelve months time and keen to get work at an IB, Fund mangers or large brockerage firm but having experienced how tough the industry is to get into in london I want to examine some options abroad. The lack of any language skills means that only english speaking regions can be considered and I am not keen on America because I think competition would be as equally tough as it is over here. So I've been thinking about Austrailia or new zealand. I know that neither are particularly reknown for their financial services industry but there must be a large number of decent jobs. Added to this is the relavatively poor state of both their education systems which leads to to think that competition might not be as tough. Does anyone know anything about this or has anyone worked there themselves? Also I was thinking about South Africa and if anyone has any thoughts it would be greatly appreciated.

Thanks

 

[chump]

"poor state of both their education systems which leads to to think that competition might not be as tough".

Not sure where you got the above information from.In my experience they are sharp and if you are thinking of this route you might be better asking around on forums down under where to locate opportunities,but you might not couch you r questions in quite the same vein . One possible advantage for you is they export a lot of their talent...

Cheers

 

[schoe]

If you speak to Trendsignal (search for their posts) they have connections in Australia and if you impress them enough they will help you, they offered one person a job in Australia in the past on these boards.

 

[trendsignal UK]

Hm. Where to start? You lack language skills and say Australia's education system is poor? The Aussie and NZ educations systems are actually excellent - with many private schools now achieving very high levels of achievement in the IB Qualification.

There are not a lot of jobs in Aussie/NZ financial services at present (horribly overbanked as a country) - check out the unemployment rates first. I'll be in Sydney next week - and I was there a month ago. Unless something has changed in that time I doubt if anyone will be begging you (or anyone else) to join them.

The ASIC exams are much harder in many ways than the FSA - and you'll need them before an Aussie outfit will touch you (unless you have FSA's where you can generally get a 3 month waiver).

Why fear competition though? If you are good enough to hack it then prove yourself against the best (that's why so many Aussies come over here). See if you can get a job in London or New York. Don't look for an easy ride (at least thats how I read your comments, apologies if that's not what you mean).

FYI in Australia you will also be competing against Chinese/Asian traders and workers. We are bringing a couple of these guys to work in the Uk - their numeracy (and language) skills are excellent. They are tought people and natural traders.

I have some contacts is SA, and the issue there is much more complex for political reasons - for a start visas are apparently much harder to get now than ever before.

Anyway good luck in your search.

 

[BBB]

Sak07 - Also remember this - Educational standards are generally far higher in mainland Europe than they are in the UK these days (thanks phoney bLiar). Most European grads will speak English fluently, and most English speaking banks may prefer their international stance than a UK grad, especially as the UK grad will have A levels that a 7 year old could pass.

Anyway, why do you want to work for a bank? You've got to work 600 hours a day, 9 days a week, grovelling to some jerk boss who will fire you as soon as he misses his target. Ok the money can be good for those who reach the top - but not as good as a good trader.

Get a laid back job in software for a few years, get some money behind you and trade for your self.

Dont let me put you off though if your heart is set on the rat race. If you want something in life, you've got to keep at it - despite what 'advise', put downs or obstacles others may give you!!!!

Good luck.

 

[rog1111]

sak07

I have lived in SA for 20 years, now in Sussex for part of each year. There are hedge fund jobs, but basically you are looking at Johannesburg, not a great place to live IMO - far too much crime. If you are really lucky you may get something in Cape Town, which is a whole lot better place to be, but far fewer jobs. Residence permits or working visas are quite hard to obtain nowadays, also there are many scams operating, even within Government departments eg you fork out £1000 for an "application" which gets nowhere, and no refunds !! You will also generally be earning SA rands, and although you can very live well locally in SA, the Rand doesn't go far, especially in the UK. Without getting too political, you should also be aware of the Govt's "affirmative action" policy, which is a sort of quota system, and forces all large companies to give jobs to non-White Africans where possible. They also operate an exchange control policy, which makes it difficult to transfer large amounts of your own cash out of the country. Although I am very fond of South Africa, I can't help thinking that Oz or NZ would be a better location for someone just starting out. IMHO of course.

Good luck !
rog1111

Also I was thinking about South Africa and if anyone has any thoughts it would be greatly appreciated.

Thanks

 

[Mr Euro]

A lot of wise words on this thread - students!!!!

 

[PAINTACE]

Hi all

Does anyone have experience of trading in places that are generally considered as holiday destinations for UK residents. 4-5hrs max flying time should be enough.

Requirements: reliable Internet connection, good weather and pleasant surroundings

pa

 

[Buk]

Cyprus is ok for the requirements you seek....long as you're based around the larger populated area's (Pafos/Nicosia/Limassol), given they provide 24/7 net connectivity at reasonable cost (approx $60pm).....weather/surroundings are self explanatory, providing it's your cup of tea of course!?

 

[Trader_Dave]

Added to this is the relavatively poor state of both their education systems which leads to to think that competition might not be as tough.

I imagine you're one of the many who also believe that Australia does not experience traffic problems because they don't utilise roads yet?

LOL! That was the most funniest thing I have read all day. Good One.

 

[Robertral]

I imagine you're one of the many who also believe that Australia does not experience traffic problems because they don't utilise roads yet?

LOL! That was the most funniest thing I have read all day. Good One.

Why move away??? do you feel there is too much competition for jobs here??? well there is!!! you have to be f*cking good to get a job.....
When u apply for a job, anywhere in the world, just make sure you know your stuff before you apply as you are wasting their time and your own.....you get to the interview and they ask u a Q and you haven;t got the slightest idea of the answer......Sorry I can't be of more help, just wanted to say the above....

best of luck, and I hope it all works out........

PS...I don't believe that BBB's idea is good if you haven't got trading expereince.....

 

[GloballyRelaxed]

Blimey.....reading this posting gave me a grin must admit...cheers for that.

Right,my advice for what its worth,Ive worked in London,US,Denmark and now working in Australia.

First of all...start as the rest of us did....work your way up the internal ladder in London in an outfit that is on the outset prepared to spend money on training you,its there outlay first because in no way are you going to be generating nothing for them first off.

Take all advice and garner opinions in the business that you work in,make friends with everyone you meet,its a small world out there and the last time I checked its round,friends in this business is worth ten times any small monetary gain in the short term,they are also an invaluble source for new positions.

As for here in Australia...well basically its much more difficult to just rock up and work here now,and as one of the posters above said,the streets arent exactly paved with gold at the moment (nor dirt mind you)

One way you might be able to get into an institution down here would be on the student working year out thing,but then you wouldnt really be doing anything spectacular and would have to keep your fingers crossed they offer you something along the way,Ive known that to happen but not in all cases.

Good Luck.

 

[bearwatch]

Paintface,

I trade from my home in Malaga in Spain, plenty of UK residents here. The connectivity is very reliable, with Telefonica, but occasionally there are blackouts (I think it depends on specific towns on the coast). I live just west of the capital of Malaga and there are occasional gusts of strong wind so it goes down from time to time. Hope that helps.