How You Benefit Going Offshore [Survey]

4,867 professionals applying on the Hamilton Recruitment website were good enough to answer a one-question survey on an anonymous basis. The simple question asked was ‘Why do you want to work offshore?’

The survey results with percentage scores are as follow:

To get international and financial services experience: 37%
To improve future career prospects: 34%
To get experience of a different culture: 11%
To enjoy an enhanced quality of life: 7%
To earn a tax-free salary: 5%
To have greater opportunity to travel: 5%
Other reasons: 1%
Total: 100%

These results show that the main incentive for seeking to move offshore, representing 71% of the votes cast, is for experience and career development reasons, reinforcing the perception that a period invested working offshore improves your long-term professional career trajectory.

The drivers for this are clear: adding both international and financial services components to what you will be able to offer future employers gives you extra professional firepower. This means that are likely to be more highly valued and remunerated accordingly. And once on your résumé, such a gain is permanent.

The next most quoted motives for moving offshore are associated with the benefits of experiencing a new culture and an improved quality of life. This is hardly surprising as the Islands are attractive tourist destinations in addition to being business centres.

We would also add at this point that, having been through such a transition ourselves, the personal growth that results from a period spent working abroad in such an environment is not to be underestimated.

Rounding out the main reasons given by respondents are the financial incentives associated with earning a tax-free salary and the opportunity to travel in another part of the world.

If you are a lawyer or chartered accountant and interested in working in the Bermuda/Caribbean region, visit our jobs portal to see the latest vacancies. Our site also includes a downloadable All You Need to Know guide which will tell you all you need to know about living and working offshore.