Post-Crisis, Here's How Asia Helps Financial Analysts Survive

Finance majors should be aware of the current situation surrounding the world of finance, however. This is not to say that there are no opportunities out there at all for finance majors; these opportunities are simply in places which some finance majors might not automatically think to look. Many individuals who pursue finance majors would actually likely be better off pursuing or planning on careers outside of traditional finance areas, such as Wall Street, and instead inside of areas such as emerging economy, such as Asia. There are few things you should understand clearly if you want to move abroad to work:

Global finance and its impact on financial analyst worldwide

1/ Why should you move abroad to work in Asia instead of in America?

There is no doubt that financial analysts are being rational, deeply rational especially during the economic downturn. Many of them choose to work in Asia because of the cheaper living expenses than in America. People are much better off living in Asia because a good priced $1 in the U.S. is only 54 cents in Thailand or 62 cents in China. You can save up to at least half amount of your money. It is easy to understand why Asia has been a destination for many financial analysts when they always have a sense of rationality. 

 

Also, better employment opportunities and better chances for professional development are the two key elements that attract financial analysts. More income was fourth, and about the same number of people claimed that working in Asia provided better chances for career advancement and an interesting lifestyle.

 

Working overseas was once an unusual adventure. It is still an adventure, but an adventure shared by many more people. Financial analysts are evolving to adapt to a new environment where things are cheaper but still guarantee a good life.

2/ Are there many international corporations in Asia nowadays?

Marina Bay Financial Center in Singapore

 In order to move finance jobs overseas, there must be a growth of financial centers and large companies in those countries. Years ago, the two largest financial centers are placed in New York and London. There was no such thing in Asia but with an impressive high growth potential, they are now opening offices in Singapore, Hong Kong, and India. Three out of the top five financial centers in the world now are in Asia: Singapore, Tokyo, and Hong Kong and they are predicted to still be on top in 2025. These centers are seen as the golden places for financial analysts.

Starbucks store in Vietnam

 

 Additionally, not only those financial centers develop but also the food/beverage companies grow in Asia.  Opening a store in a foreign country like that requires the company to have an experienced financial team to take care of the operating step because the first step is always challenging. The financial analysts will make sure if the store is operating with profit or loss. The percentage of American ages 25 to 34, who are going for finance and working abroad, has dramatically increased from 1 percent to 5.4 percents in 2012 and 2013 and it creates a positive effect for global business, especially, in the finance field.

3/ Which language are people using at work in Asia?

Communicating fluently in English is a must-have ability if you want to enter the global business. Even though English is just a second language in some countries in Asia such as China, Japan, Korea, etc, it is still highly valuable in business. Every Asian who wants to apply for jobs in a U.S. corporation must show that they are proficient in English by the IELTS test - the world's most popular international English test. English is a default language of international business because all business contracts or international treaties are written in English. If you do not know English, you will be left behind. And no matter what, an English native speaker is always the best choice to be the leader or some important positions abroad. This advantage leads to the consequence that many people fly overseas for a better job.