Do you want to work overseas?
Posted on 09/07/2018
Here are some things to think about before making an international move.
Earn more than just money
Wherever your destination is, you could find there’s more to be gained by working overseas than just earning a different currency.
Many employers value the experience employees gain by working overseas, so view international experience as something positive on your resume.
The Australian National University1 has stated that employers value candidates with international experience for a number of reasons:
Can help companies maintain a global competitive advantage by bringing international skills, experience and cultural understanding
Better understand the international marketplace
Can more easily build relationships with foreign clients, suppliers and business partners
Have more diverse perspectives and experiences
Offer a range of enhanced general skills
Top overseas employment destinations
According to the Australian Bureau of Statistics2 approximately 346,000 Australian-born people are living overseas. The UK, USA and New Zealand are popular destinations, with most Australians choosing to live here.
United Kingdom ― 33%
United States ― 22%
New Zealand ― 14%
Getting ready to pack
If you’re ready to start from scratch and live and work in a different country the you’re are most likely ready to step out of your comfort zone. While overseas work can be rewarding it can be challenging to leave your family and life behind, so it’s important to be prepared for this.
Work out where you’d like to go and when.
Make sure your passport is valid and contact the consulate of the country you’d like to work in. Each country has different criteria and visa requirements you’ll need to meet to qualify for international employment.
Save for your trip―call us and we’ll help you set up a savings account so you’ll have enough to get you settled overseas and something to fall back on if you need it.
Consider searching online for organisations that can help bundle your travel and work needs. Some companies can place you in an overseas job, organise your airfares and help arrange travel insurance. But be sure to do your own research too.
Visit your dentist and doctor to make sure you’re in good health. And speak with your health fund so you know what they’ll cover when you’re away.
Speak with a financial adviser and an accountant before you head off and ensure that your super is secure and in the right place. They can help you to work out whether any HECS arrangements will be affected if you’re working outside Australia, and detail the tax implications of earning money overseas.
General Advice Disclosure: This document contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.