What type of roles are there?
You can take your pick of positions with leading international financial services institutions in areas such as financial accounting, funds, trust work, insurance management, banking and in assurance with the Big Four firms, thereby ensuring continued professional development. You will generally need to have passed all your professional accounting exams before securing a job and associated work permit. (If you don't expect to be qualified for another year or so, or you are still in the early stages of a current employment contract with some time yet to run, you should make use of our Pre-registration service).

What sort of salary can I expect?
Depending on the Island, your salary will generally be tax-free. This will give you a head start in saving for the future. Packages for newly or recently-qualified accountants are in the US$60-75,000 range depending on the role/location, and will always include paid relocation, vacation and medical/life insurance as well as other benefits. Bermuda salaries can be higher than in other jurisdictions though note that there is a 4.75% payroll deduction.

NB: For applicants from the United Kingdom, adjusting at an exchange rate of 2.0 and using income tax and NI rates 2007/8 levels, a tax-free salary of US$75,000 equates to a UK gross salary of just over £54,000. How this was calculated?  

What sort of opportunities are there in public practice?  
There are openings in audit and in accounting services, plus opportunities for secondments and occasionally in insolvency. (There are not generally openings in the areas of corporate finance or consultancy services. Whilst there are vacancies in US tax for CPAs, this is not the case for UK, Canadian or other tax specialists). These jobs usually start in September or October.

Audit departments are often arranged into Funds and Insurance divisions although there will also be "local" clients (e.g. in tourism, retail). You may work predominantly on your own or in small teams on certain clients which means you are responsible for the planning, fieldwork and finalisation on these engagements. This gives you the opportunity to manage the assignment from start to finish and be the main point of contact with the client. Generally, the work is quite 'hands on'. Each year a number of audit seniors are promoted to management positions. Pay rises for such promotions are substantial.

Hamilton Recruitment can help you find employment with the Big Four and other accountancy firms (including internal transfers), and we can readily facilitate direct interviews for you with the offshore decision-makers.

What about opportunities in commerce?
In industry, positions are generally of a financial accounting nature, often for US clients of the offshore funds and international insurance management companies in the financial services sector. Prior experience of this sector helps but is not required provided you demonstrate that you are keen to learn. For such roles, however, you will need to have good financial statements preparation experience. More details on vacancies  

Apart from work, what is living on the Islands like?
One of the major attractions of living offshore is the genuinely outstanding quality of life on offer. No more wasted commuting time, taxes or freezing ice! Not only is the climate favourable but there is a work hard / play hard ethos. Recreational activities include water sports such as SCUBA diving and sailing as well as outdoor activities such as golf, tennis, beach volleyball, running, softball, cricket, rugby and football (soccer). Most new professionals are of a similar age group (mid-to-late 20s) and there is certainly no shortage of people to socialise with when you get there. In short, the recreational lifestyle must be experienced to be believed, both for single persons and couples.

What can I gain career-wise from time spent working abroad?
In today's job market, there is no substitute for broadening your experience to include an international dimension. Companies think globally and so should you. To quote the December 2003 edition of FORTUNE magazine: "In the era of globalisation, companies... expect [future] managers to have global... perspectives and contacts. Employers expect senior executives to think locally and strategise globally. Actual experience is the best qualification".

Many of the world’s premier financial services institutions are represented in these offshore locations, offering you the opportunity to:

• Benefit from having a prestigious "big name" employer on your CV

• Develop an extensive network of professional contacts across the world

• First-class exposure to the financial services sector (such as banks, insurance companies, funds and trust companies)

• Gain in-depth working knowledge of US, UK and Canadian GAAP as well as IFRS reporting

• Understand the purposes and uses of offshore structures and advanced financial vehicles

• Work within a friendly, international organisation where you will be valued

• Employers usually encourage and sponsor further professional studies

• Enjoy better career prospects with commensurate financial rewards

• With experience of US GAAP, the option often exists to move to the US afterwards

Where are most of the job opportunities located?
For overseas applicants, Bermuda and the Cayman Islands offer the most opportunities for those seeking a first move offshore or into financial services. The British Virgin Islands are also popular. There are occasional jobs available in other destinations.

How long do I have to commit for?
Standard contracts are for an initial period of two years (or effectively two busy seasons in public practice). Bearing in mind the costs involved (relocation, work permits, training) it is not worthwhile for firms to bring people over for shorter periods. Most people choose to stay on beyond their initial contract period - a sure sign that life is good there - so candidates looking for longer term commitments are encouraged to apply.

How much holiday will I get?
To start, most employers offer 15 days paid vacation days plus statutory public holidays (approximately an additional 10 or so days, depending on location) making 25+ days in all.

How much overtime is there?
It is difficult to predict how much overtime you may work as this clearly depends on your client mix, staffing levels and the deadlines set. However, a recent study by one of the Big Four firms on 26 of its audit seniors in Bermuda found that on average they did 166 hours a year, which equates to 3 hours a week, with most of this occurring during busy season (January to April).

Who are you able to help?
Candidates most likely to be successful are newly or recently-qualified ACAs, CAs, CPAs and ACCAs from the UK, Canada, the USA, Australia, New Zealand, South Africa and Zimbabwe. This is because there is reciprocal recognition of these accounting qualifications with the Islands. However, applications for qualified accountants from other countries is encouraged since there can be occasional exceptions.

To successfully get a position in practice or financial reporting in commerce, you must have a strong auditing and/or financial accounts preparation background. To secure a position as a fund accountant, you need not always have to possess an accounting qualification but you must have at least two years' direct funds (i.e. Net Asset Valuation) experience plus a finance degree.

Is it easy to make new friends there?
Life is very sociable on the Islands. Every year, hundreds of young professionals like you make the move offshore, jump-starting the next stage of their working life. Some may already have a few contacts there but, for most, it’s a fresh, exciting start. From the people you meet at work, to the people you meet at the beach or share a house with, you’ll be making friends fast so don't worry.

Am I suited to offshore life? Take a look at our decision matrix to see…

How does the relocation process work?
You will of course require a current, valid passport prior to relocating. Firms will pay for your return air fare plus an allowance for excess baggage. Often you will be put up for two weeks on arrival in a guest house or hotel and be provided with free transport for a similar period. A number of firms also provide an optional start-up loan to help you get settled and will give guidance on opening a bank account, finding accommodation and so on. All employers will guide you through the Immigration/work permit approval process.

Is there a 'best' time of year to move? 
Not really. Those who start with the audit firms each September/October may initially find it easiest, as they will have an obvious immediate peer group starting with them. However, this is a temporary difference that will cease to be important within a week or two of arriving. People starting at non-audit firms should certainly not fear that they will struggle to meet other expats: it's a very sociable environment - it's easy to make friends, and easy to get to know friends of friends! 

Psychologically, the hardest time of year to move is probably January, since you will be going away from your family and friends in the aftermath of Christmas and straight into busy season somewhere new. (This is particularly the case for Bermuda as the off-season climate means it can be chilly in the mornings/evenings from January to March). That said, however, many see the beginning of a New Year as an ideal time to make a fresh start.

What about my partner?
Most jurisdictions have strictly enforced immigration rules. If you are not single and your partner doesn't hold a professional designation (or is not a nurse, teacher, in tourism or a secretary) then you will face more obstacles in finding employment than a comparable single candidate. If this is the case, it may be wisest to concentrate on finding your partner a position first. (Note that employers are wary of hiring where only one partner will be working since it implies two people living off a single salary in what can be a relatively expensive environment).

I'm already with a Big Four firm. Shouldn't I just ask for an internal transfer to go abroad?
You should consider that:

• Your home office has subsidised your training contract and will not be motivated to see you leave as soon as you qualify. They'll probably want you to stay on for another year or busy season at least before they'll even consider helping you make such a move abroad. Such a delay is easily avoidable

• By registering such interest you will alert your office to the fact that you are considering leaving them - a potential career progression problem in that office unless your overseas transfer or secondment request is guaranteed to come through

• We can help with internal transfers by putting you in touch direct with the offshore decision-makers on an informal basis so you can 'test the water' first

• By applying to Hamilton Recruitment, you will broaden your opportunities to include openings in commerce in addition to financial services audit

I've seen an advert offshore from my own Big Four firm. Shouldn't I just apply direct?
You should consider that:

• If you do this, the first thing that will happen is that the overseas branch will contact your staff partner to negotiate whether you can be released. There may be little incentive to accede unless, for example, you are tied into returning to your home office at a future date (and there is still no guarantee even after you've been through this that you'll pass the interview and successfully get offered the move)

• Going with Hamilton Recruitment, you will have the opportunity for  a direct interview up-front with the offshore office. At that stage, if you are to be made an offer, then from a position of security your home office will be contacted afterwards for references

Don't some companies prefer not to use headhunters? Be aware that:

• Leading financial services companies on the Islands are accustomed to using specialist recruitment agencies, and the associated cost is factored into their annual budgets

• Further, your salary will not be adversely affected by using an agency since pay scales are set depending on experience, qualifications and future potential only

• The bottom line is that employers simply want the best candidates available and will not 'penny pinch' to achieve this

Still not sure whether to go the agency route? You should bear in mind that:

• Applying direct means you are on your own

• The majority of jobs are not advertised on individual companies' websites

• Are all the best jobs likely to be with companies you already know?

• We are the sole recruiter for a growing number of offshore firms

• The best positions may not be advertised online

• Very few companies limit themselves to direct applications alone

Whilst you will undoubtedly get best results from using our free service, accountants who decide to relocate independently may want to visit the following site where there is a downloadable e-book for sale which gives hints & tips on how to relocate offshore.

Which locations are the most popular for accountants?
Most candidates will usually always select Bermuda and the Cayman Islands, as well as perhaps additional offshore destinations. The work experience, climate, cash benefits and lifestyle/travel opportunities are very similar in these jurisdictions.

Why don’t you have more vacancies for Guernsey and Jersey?
Simply because, over the years, the Channel Islands have proved less popular with our candidates. Whilst they are also thriving financial services centres, the unfavourable climate and financial dis-incentives have not helped when compared to the other locations we serve. That said, many of our clients also have a presence in Jersey or Guernsey so, if you are specifically interested in employment opportunities there, we’d be very pleased to help.

Why should I use your services and not use another agency?
Hamilton Recruitment is staffed by chartered accountants who have worked in Bermuda and other offshore locations themselves. We will personally advise you on all aspects of living and working offshore, provide interview advice and answer any questions you may have. We enjoy a proven track record of success and maintain a wide network of contacts with more leading employers offshore than any other agency. Unlike some other agencies, we are well established and have been recruiting for a decade in the offshore centres so we know how things work. By applying to us, you will benefit from all these advantages and maximise your chances of finding the job you want. In short, we get results.

Our terms of representation
We offer candidates assistance on an exclusive representation (for jobs on the Islands) basis. Why? Because accidental multiple applications for jobs can lead to potentially awkward situations which -we know from experience- companies on the Islands would prefer to avoid. Rest assured that we will be highly proactive and promote you to all major companies on the Islands of your choice. (If you are presently with another agency but dissatisfied with their results, we'd still be happy to hear from you to see how best to move forward). 

When is the best time for me to register?
If you are fully qualified or soon-to-be qualified (i.e. you have passed your exams and just need to complete your time experience), the best time to apply is now. Competition for placements offshore is tough and there are only a limited number of openings each year - once they are filled, that's it! (Don't forget that, if you are still at the early stages of your professional studies, you can always take advantage of our Pre-registration facility).

Okay, I'm interested. How do I apply?
When you are ready to apply, click on our Registration  page. Our service is free and in registering with us you are under no obligation whatsoever, aside from our requirement for exclusive offshore representation. (Not for you? Perhaps a friend would be interested - and you can earn a Referral Reward).

What happens next?
We will review your application and get in touch with you shortly to advise whether we will be able to represent you. This will be followed by a preliminary interview at which time we will answer any questions you may have and discuss how best we can help you. We pride ourselves on being responsive so you won't have to wait long before we reply to your enquiry.

About offers of employment
Job offers will of course be conditional upon work permit approval from the relevant offshore Immigration authorities. Therefore, you should not resign your current position until such approval has been received. Any decision to resign early is, of course, the sole choice and responsibility of the candidate. (In practice, for timing reasons many - if not most - people do choose to hand in their notice once a conditional offer has been made and references obtained to bring forward their start date. Immigration is generally just a formality provided the employer has been through the correct procedures and the applicant is appropriately qualified and experienced).  

Genuine applications only
Finally, please do not apply if you are either not a suitably qualified accountant, you cannot cope with moving abroad, you cannot honour our basic terms of representation, or you're not serious about developing your professional career in an international environment. We're here to invest our time assisting genuine applicants, who are looking for a rewarding Work/Life balance, making their ambition and dream a reality. If this sounds like you, we warmly invite you to Register with us today.