An American Expat's Framework for Moving Overseas
By Brandon Ray JGSM '10
Issue date: 9/9/09 Section: Perspectives
At the time the CBJ went to press, the number of banks shut down by regulators stood at eighty seven and the unemployment rate sat at a twenty six-year high of 9.7%. Happy Labor Day everyone! Face it, things are bad stateside, and they don't seem to be improving. Thus, it comes as little surprise that people are getting more adventurous in their job searches. Faced with tough competition from older, more experienced workers, many among us will look overseas for employment opportunities this year-and I think that's great. A healthy, dynamic global economy depends on workforce mobility. After all, what would Silicon Valley be without Sergey Brin (Russian), or Wall Street without George Soros (Hungarian)? If you have it in mind to sell your worldly belongings on Craigslist and use the proceeds to buy the first plane ticket to a place with double-digit GDP growth or tax-free income, I am writing this article for you. Though my perspective is largely unsolicited and perhaps unqualified-I didn't exactly strike it rich during my twelve weeks in Dubai this summer-I was afforded a tremendous opportunity to compare business as usual in the US to business as "unusual" in a place drenched with petrodollars. The lessons I learned appertain to any other "new" economy and can help you answer the million-dollar question: should I take the risk?
The reality of working in Dubai and the Gulf Cooperation Council (GCC) states was not far removed from my preconceptions. The name of the game is economic diversification, as sovereign wealth tries to escape the wild gyrations of an oil-based economy. Cutting through all the pretense of management consulting-grueling hours, presentation decks measured by the pound, client "scope creep"-you discover the real value contribution is in the imported expertise that a world-class consulting firm brings to a place that is historically an expert in oil exploration but not much else. The exponential growth in cargo through the Middle East, vastly improved transportation infrastructure, and privatization of public services have all come at the behest of the ruling families but with the guidance of brand-name consultancies.
The reality of working in Dubai and the Gulf Cooperation Council (GCC) states was not far removed from my preconceptions. The name of the game is economic diversification, as sovereign wealth tries to escape the wild gyrations of an oil-based economy. Cutting through all the pretense of management consulting-grueling hours, presentation decks measured by the pound, client "scope creep"-you discover the real value contribution is in the imported expertise that a world-class consulting firm brings to a place that is historically an expert in oil exploration but not much else. The exponential growth in cargo through the Middle East, vastly improved transportation infrastructure, and privatization of public services have all come at the behest of the ruling families but with the guidance of brand-name consultancies.
Be the first to comment on this story