In midst of the globalizing state of world economics, it has never been easier to pursue economics jobs abroad. Companies all over the world value the knowledge and skillset that comes with an economics degree, and regardless of prior work experience, the odds of finding an economics job abroad are very much in your favor.
Why Work Abroad in Economics
Economists tend to make fairly good money wherever they work abroad, but there are far more benefits to international work experience than can be quantified by the monetary value. Immersing yourself in another culture while living as an expat is an invaluable life experience that everyone should try out at least once, especially those who are trying to understand the global economy. Wherever you choose to work, obtaining an economics job abroad has the potential to take your career to new heights, while also educating you about the ways of the world.
Micro and macro economics are increasingly utilized disciplines all over the world, and so the potential places where you can find work abroad in economics are vast. From working for a multinational corporation in a major global city to working for an NGO in a developing country, there are any number of places you can find jobs abroad with an economics degree.
Many aspiring economists want to be where the “real” business is. Around the world, cities as culturally diverse as New York, London, Paris, Dubai, Tokyo, and Hong Kong offer promising opportunity for gainful employment in the realm of economics. These global cities are very influential in the world economy, and so the flipside is they can be quite competitive to find work abroad in as well.
Beyond these nuclei of economic activity, there are cities all throughout the developed and developing world which present equally enticing alternative locations for economics jobs abroad. It really just depends where you want to go and what type of work you want to do. Some additional factors to keep in mind are the openness of the country’s economy, accessibility or ease of obtaining working visas, and the language barrier. English speaking job opportunities are offered in many places, but knowing the local language will open up a whole world of new opportunity!
Economics Jobs Abroad
The type of available economics jobs abroad are likely similar to the ones you might find in your home country. Banking, finance, business, marketing, accounting, these are all general fields that economists often find themselves working in, regardless of location. The main differences about working abroad as opposed to working at home will be the work culture, language, and how you go about getting hired.
Adjusting to the nuances of another culture can be a subtle and challenging process, especially in the business world, where negotiations are often built upon mutual trust and respect. It is thus important that you make a genuine effort to learn about the customs and practices of the country where you choose to work abroad. Learning the language, too, will open up many doors for networking while in country, and of course for future job opportunities.
The visa and hiring process for economics jobs abroad can also be tricky to navigate, and for any field for that matter. There are a few ways tricks though. First, you can find temporary work abroad in economics or a related field through a work abroad program, which tend to be shorter but are usually the easiest to land and coordinate. Another way is to look for an economics job at an international company in your home country, and then work your way into transferring to a position abroad.
Salary & Affordability
Economists are typically paid well for their services, though there remains quite a large variance in average salaries depending on what type of economics job you obtain. Working for a major global investment group is obviously likely to pay more than an accounting position at a local firm, for example.
Some companies will also adjust their pay rates depending on where you are stationed. So while life may be much cheaper living in a city located in the developing world, your salary may reflect this decline in expenses as well. These are all things to sort out with your employer or program provider before making the decision to work abroad.
Deepen Your Knowledge. Working abroad will place your previous economics education into the larger global context, and accordingly can greatly improve your understanding of the discipline. The international marketplace is becoming increasingly complex, and working abroad in economics is a great way to stay ahead of the curve!
Enhance Your Resume. Building from the previous point, employers will swoon for job candidates who have global work experience in economics. It shows them you are forward thinking, ambitious, and have a diverse skillset.
Have an Adventure. Last, but certainly not least, working abroad is a great adventure. Beyond the professional benefits, the personal journey of living and working abroad is something that will stay with you forever.