Switzerland Is Best Place For A Career Abroad

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Switzerland Is Best Place For A Career Abroad

According to expats, Switzerland is the best all-round destination for a career abroad, combining excellent earning prospects with an enjoyable work culture and enviable job security.Almost two thirds of expats in Switzerland say the country offers higher salaries than at home, while 53% praise the working culture and 43% feel more secure in their job, according to HSBC’s Expat Explorer survey.

Europe provided the four best career destinations. Switzerland takes the top spot, followed by Sweden, Germany and Russia. Career hotspots in Asia and the Middle East, including Singapore and the United Arab Emirates (UAE), dominate the rest of the top ten. The USA offers the best destination for careers in the Americas and ranks as tenth best overall.

The rankings look at eight key criteria to reveal which countries enable expats to thrive in their careers. These are the chance to acquire new skills, career progression, job security, actual and prospective earnings, benefits packages and work/life balance, as well as fulfilling work and the work culture.

European countries top the table, and excel for expats who value the non-financial side of their career. Expats in Sweden enjoy the best work/life balance in the world, with 72% of expats there finding a better balance than at home. The UK, which ranks twentieth overall, is one of the best places to develop skills, with nearly three in five expats saying the country offers them a better chance to do this.

While earning prospects for expats vary within Europe, job security in the region is rated the highest in the world. Four of the top five countries for expat job security – Sweden, Germany, the Netherlands and France – are in Europe, with 59% of expats in both Germany and Sweden feeling more secure in their role after moving there.

Destinations in the Middle East offer excellent benefits packages and strong earnings prospects. The majority of expats in Qatar (67%), the UAE (62%) and Bahrain (61%) say they earn more now than they did at home. There is more to expat employment contracts than just salary, however, and 94% of expats in Oman receive at least one benefit from their employer, more than anywhere else.

Asian countries also score highly for expats who are willing to develop their career. Nearly two-thirds of expats in Singapore say their earnings prospects are better than at home and 59% say it is a good place to progress their careers. Hong Kong performs even more strongly for these two aspects, with 68% and 63% rating it as a good destination for earning prospects and career progression respectively. However, only 28% of expats in Hong Kong say their work/life balance has improved.

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.