TipTopJob Blog

There are plenty of cities that are frequently declared to be expat havens, offering a high quality of living and a vibrant international community to help new residents from all over the world feel at home. But if you’re a finance professional looking for your next step, there are other factors to bear in mind when you’re deciding where to relocate to.

As well as setting your sights on the world’s global financial centres, it’s important to look into the typical salaries on offer for finance professionals at your level in different locations. You may also wish to consider what personal income tax you’ll need to pay, and the economic stability of your potential new home.

For financiers just starting to research their options, here’s a look at some of the best cities in the world for people working in the finance industry.

Frankfurt
Often cited as the finance capital of Europe, Frankfurt is home to the heart of the European Central Bank and German Central Bank, as well as the Federal Financial Supervisory Authority. The city’s ‘House of Finance’ research and teaching institute is said to set new standards in researching capital market issues, and a number of banks looking to relocate from London as a result of Brexit have decided to move their teams to Frankfurt because of its status as a financial powerhouse.

Data from PayScale and SalaryExpert places Germany in the top 10 countries worldwide when it comes to average pay for both Finance Managers and Financial Analysts, while additional data suggests that expats living in Germany also have a higher level of disposable income than those in other finance hotspots like Singapore and Hong Kong.

Aside from the ease with which you could find a job in Frankfurt’s finance sector, it’s also a trendy and welcoming city with plenty of great food, drink and shopping potential, as well as historic sites and cultural activities to enjoy.

Singapore
Salaries for financiers living in Singapore are generous, and this city-state is also known for being a safe location and one with an excellent quality of life. Rated as the second best place in the world for expats by HSBC’s Expat Explorer survey, this is a politically and economically stable location where career opportunities mix perfectly with an expat-friendly environment.

In 2018, the number of jobs in financial services and fintech in Singapore grew by 6,900, with an additional 4,000 financiers being hired during 2019. Salaries are comfortable, though it’s worth noting that the cost of accommodation and services varies from district to district and can be high.

You may also need to take out a global healthcare policy to cover any medical expenses while living in Singapore, because only those who are permanent residents or citizens will have access to the public healthcare system. Even so, Singapore’s private healthcare system is of a world-class standard and is only slightly more expensive to access than the country’s public healthcare system.

English is the language of business, which makes settling in to a new role that little bit easier, and if you’re moving with children in tow you’ll be pleased to know that HSBC’s Expat Explorer ranked Singapore in first place for both schooling quality and childcare quality.

Hong Kong
Whether you work in brokerage, banking, wealth management or another area of finance, Hong Kong is a gateway to China that offers a rapidly growing market for finance roles. If you speak Cantonese you’ll be at an advantage, but there are also positions available for solely English-speaking expats.

Hong Kong is known for being busy and crowded, and the cost of living is high. However, it does also have some of the lowest personal income tax in the world – currently capped at a maximum tax rate of 17% of earnings. A colourful culture and lively nightlife are just a few of this region’s selling points, along with an excellent public transport system that means you won’t have to spend your salary on personal transport.

70 of the world’s 100 largest banks have operations in Hong Kong, making it one of the highest concentrations of banking institutions worldwide. HSBC’s Expat Explorer rates this location as the best in the world for expat career progression, and states that ‘most international workers tend to leave Hong Kong wealthier and more senior’ than when they arrived.

Dubai
One of the main attractions for many people moving to Dubai is the fact that there is no personal income tax. This is because government expenditure is funded by revenue from the oil industry, income tax, inheritance tax, stamp duty and capital gains tax, which are all considered unnecessary. On top of this, it’s easy to get by without speaking Arabic – though it is, of course, polite to try and learn the basics.

Dubai has been making considerable efforts in recent years to become the financial centre of the Middle East, and the Dubai International Finance Centre is a ‘special economic zone’ with its own legal and regulatory framework. Housing hundreds of financial institutions, from wealth funds and private investors to multinationals, the area offers a 50-year guarantee of zero taxes on corporate income and profits.

One thing that’s important to keep in mind if you’re considering Dubai for your next career move, is that this is a conservative location with deeply ingrained customs and laws that may be unfamiliar if you’re moving from the western world. Female expats in particular should thoroughly research the local culture before a move, as while Dubai is more liberal than other parts of the UAE, there are still requirements for women to dress modestly in public, among other things.

Tokyo
Japan is one of the world’s safest countries, and while there’s likely to be an element of culture shock settling in to a place as bright and bustling as Tokyo, this is another area offering a good quality of life and opportunities for career progression.

More than 50 foreign banks have operations in Japan, including Citibank, Deutsche Bank and JPMorgan Chase, and Tokyo is the centre of all things finance in the country. Described as a ‘key financial centre for the international market’ , Tokyo does have a high cost of living to accompany the high salaries you can expect to find here. However, you can still expect to have a reasonable level of disposable income.

When you aren’t working, you can spend your time between historic temples or modern shopping malls, or simply eat your way around the city’s many excellent restaurants and street food stands. Tokyo’s work-life balance isn’t quite as life-focused as that of other cosmopolitan cities, but as a destination that is more politically and economically stable than the UK and the USA, you may find life in Tokyo less stressful in many ways than life elsewhere.

Your specific finance role and whether you’re moving alone, with a partner or with family, will help to indicate the location that’s best for you. Wherever you decide to move to, the good news is that there are plenty of cities around the world which can simultaneously offer you good career opportunities, a high standard of living, and room to develop both personally and professionally.

We have been asking YOU whether you are looking for a job this month.

Our results reveal the following.....

- 63% of people say "YES" they are looking for a job and do not already have one. 
- 30% say "YES" as well that they have a job and they are also looking.
- 2% do not want a job!!
- 4% have a job and are not currently looking.

Positive news that the majority of people either are looking for a job or have a job with only 2% happy not to work. 

January is a great time to go on the hunt with many more companies recruiting, advertising and looking for grow. Many want to start fresh and use January as a good time to make new, positive changes to their lives. 

Is that you? Tell us your story.....

We have recently been asking if you are looking forward to your Christmas do or not?!

Many dread the socialising with their work colleagues as well as bosses/managers at Christmas and are worried about having too many drinks and being out of control causing much embarrassment when back at work. So, we were surprised but over the moon to see the results of our latest surveys that 79% of employees very much look forward to their Christmas Do's. We certainly do here at TipTopJob. It is the time to get to know the people you work with and spend so many hours of the day with and explore relationships. 

Our top tip would be to drink a glass of water in between your drinks and eat some food. You are less likely to allow the alcohol to go to your head and remain in control.

What are you doing to celebrate this year? 

Our recent survey reveals that over half of offices already have put their Christmas decorations up.

This was researched prior to the 1st of December this year.

It definitely seems there is more early excitement around the start of the festive season.

Our offices are full of fairy lights like we have never seen before. What decorations do you have up?

Our latest findings reveal that most jobseekers go shopping and buy a whole brand new outfit before they go for an interview. 

40% of respondents say that they would go to the shops in order to purchase everything new. 24% go out to buy a few new things. Interestingly, 36% reuse their wardrobe.

Some people re-using their wardrobe may have already bought a new outfit for recent previous interviews therefore not needing to buy everything brand new. Some may already be smart in their day to day life so have suitable and appropriate clothing anyway.

First impressions count and by turning up looking the part, you will be off to a better start than if you turn up in scruffy jeans and a cap. If that requires a visit to the shops, then so be it - you will not regret it!

In our latest research study, we found that the main reason for looking for a new job is "career progression".

Jobseekers look around in order to take the next step up the career ladder but staying within the same industry. Almost 60% responded to this option. In some instances, there becomes a limit and barrier to the progress that can be made within a company and so the only option is to move on elsewhere.

25% of jobseekers are after a new role of a similar level but just want to move away from their current company/organisation. Potentially due to staff or manager clashes, lack of training, money issues, location/commuting difficulties being some of the reasons.

15% however, were looking for a career change all together.

If you are looking for a new job, head over to our jobsite TipTopJob.com where you can search through over 400,000 active jobs in 61 industry sectors. You can register for free, upload a CV or Resume, Set up Job Alerts and search to apply to jobs in a matter of minutes. What are you waiting for? 

We are looking into the value of work experience and the affects it has had or is thought to likely have on the potential of landing a new job. 

Work experience can provide invaluable skills that can be highlighted on a job application. Recruiters respect work experience as it displays a desire to learn and develop one self and is always viewed favourably. We want to know your thoughts. Do you think it could help you land your dream job? Has it helped you in the past?

We are also looking at the differences between locations on work experience. Please answer our survey based on where you are currently living. Click on your location below....

UK

USA

Europe

Australia

Canada

Middle East

Asia

Latest findings have found that 26% of people have applied for more than 10 jobs in their job search process.

32% had not applied to any so far, 16% only 1 job, 12% had applied to between 3 and 5, 9% had applied to 1 or 2 and finally 6% had applied to between 6 and 10.

Are you someone who will apply to as many jobs as you possibly can, copying and pasting your application one after the other? Or do you carefully hand pick the jobs and companies and ONLY apply to those you feel you are 100% suitable for and those jobs you really, really want?

Our job board allows you to save up to 5 tailored CV's/resume's into your account. This allows you to tailor your application accordingly and really help your chances of being invited to an interview. We always advise our jobseekers to apply to jobs carefully and tailor their applications to each and every job role. It makes the jobseeker look more professional and interested in the company and role and most certainly increases the chances of taking the next steps in the process.

If you require any help with your CV or Resume, please do get in touch with us. We have a great partner who can help :)

Have you ever lied on your CV? 

We are pleased to say that in our latest study, an amazing 86% of people have NEVER lied on their CV. Obviously, we wanted to see 100% as the result but it is apparent that some individuals feel the need to change their profiles/history etc in order to find themselves a new job.

6% said that they had told a big lie on their CV and 8% just a small white lie. Unfortunately, even though it is a small percentage, there are still some that feel they need to make such changes in their CV.

So, what, we would like to know are people lying about? It is their age? How long they were employed for? If they took a break? Job titles? Education history? References? 

Advice at TipTopJob is not to lie. Is the risk worth it? If you get found out it will definitely cost you the job! If there is something you feel you need to explain, then explain it to the employer/recruiter so you are open and honest as this will be received much better than a potential lie.

What are your thoughts on this? We would love to hear.....

Resilience in Recruitment

We all know that resilience is a life skill; we have to be able to bounce back from our setbacks, ready to face the world again. But resilience in job hunting can feel like a very different beast. So, how do you keep the faith and pick yourself up, time and time again?

Remember, it’s not personal it’s business ...

We all know what job hunting can be like – spending hours sweating over application forms or changing the focus of your CV to accommodate the requirements of an individual employer. The elation of being selected for interview, thinking you’ve aced it, only to be told that you weren’t going to be offered the job. It all feels very personal. And that’s the first rule of job hunting resilience: rejection isn’t personal. So, how do you use this to your advantage? 

• Objective reflection: Give yourself a little time to grieve (but not too long – time is money!), then spend some time reflecting on the interview process. Make some notes on the things you felt you didn’t project strongly enough and how you could improve.

• Education and Qualifications: Not just a few words rattled off in an email or tagged on to the end of the phone call where they break the news. Get some quality feedback. The best interviewers (and the more sensitive ones) will ask if you want to arrange another time to talk about the interview and the outcome: say yes! Then go away and prepare for that conversation as if it’s another interview. Take time to gather your thoughts, and cultivate a better frame of mind. Make a list of questions you want to ask, points you want to raise, and make sure you have paper and pen to make notes of what they say to refer back to later when preparing for other interviews.

• Don’t burn your bridges: Remember to stay professional; you might be feeling hard done by now, but there may be other roles with that company in the future and you want to make sure that they remember you for all the right reasons. 

Take a Reality Check ...

If you aren’t getting past the application stage you need to take some action. 

• Do you meet all of the essential requirements (and most of the desired ones too)? If you aren’t ticking those boxes, then the likelihood of you getting an interview are very slim. You need to be realistic in your job choices, spend your valuable time on those which have a good chance of being successful.

• Are you doing yourself justice in your applications? Think about how you are expressing yourself on your CV or in your applications. It’s important to not only tell employers about the skills you have, but to give them some evidence to prove you have successfully used them, detailing any results if possible. Using the CAR formula (Context, Action, Result) can help to structure what you write and keep it concise. 

• If in doubt ... if you’re unsure about how you are presenting yourself then get some advice! Ask friends to look over your applications and discuss the roles you are applying for. Using a service like CVKnowHow can give you professional, objective guidance. 

Take Back Control ...

The whole process of job hunting can feel like someone else is pulling your strings. Thinking that you’re at the mercy of their decision making can make you feel vulnerable and, well, it’s just a little bit scary. However, there are many other ways that you can take back some control: 

• You can decide where and how you look for jobs – besides job sites, you can also use your own network, asking if friends or family are aware of any opportunities, or simply identify companies you would like to work for and contact them speculatively. 

• What you apply for is your decision too – remember , your time is too precious to waste. 

• Don’t put all your eggs in one basket, as the saying goes. Send off the application, or attend the interview, and then move on to the next one. Knowing we have choices is an empowering force in itself. 

• How you present yourself and obtaining help to do his effectively is completely within your control. 

Be Kind to Yourself ...

Self knowledge is a wonderful thing – knowing your strengths and skills and recognising them as valuable assets can communicate many positive vibes to prospective employers: if you feel good about yourself, it projects! When things get tough remind yourself of those skills and qualities (some people I’ve coached have kept a list to look back through – it worked for them!) – valuing yourself means employers will value you too. 

Take some time out to relax and focus on something other than job applications – even if it’s just a little time – keeping your mind healthy. 

About the Author: CV Knowhow, our CV writing company partner, have written this article. They are ready and waiting to help you put your new CV together. Check them out here and submit your CV for a FREE review today.