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 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!

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

Our latest survey reveals that job boards are the favoured option for jobseekers when they are first looking to find a new job. 38% choose a "job board" in the first instance to search for their next role before anything else.

"Social networks" were the second most favoured avenue for a jobseeker with 18% visiting either Linkedin, Facebook, Instagram or one of the other platforms. 

"Recruitment agencies" were not as popular as we thought with 16% choosing them first and "search engines", an even less popular source (15%).

Only 10% of jobseekers go direct to the end clients and 3% use their own friend or acquaintance network, which was another surprising result as normally, the networks are a valuable and popular source to find a new job. Maybe it is not the first place people go though!

What do you use? Share here....

Visit the following biggest MBA fairs approaching in Singapore, Manila and Kuala Lumpur. Visit and register for FREE to meet admissions directors from 40+ top schools. 

Singapore
Singapore is on the 13th November 2018. Directors from Imperial College, HEC Paris, CEIBS and Nanyang Business School will be there. CLICK HERE to register and reserve your spot.

Manila 
Manila's fair is happening on the 20th November 2018. You will meet directors from the National University of Singapore, IESE, CEIBS and Ross Business School. CLICK HERE to register and reserve your spot.

Kuala Lumpur
Kuala Lumpur's top MBA fair is on the 15th November 2018. Directors from the likes of Imperial College, University of Hong Kong, CEIBS and IESE will be there. CLICK HERE to register and reserve your spot.

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 :)

Which CV layout is suitable for you?

Author: CV Knowhow, CV writing experts in CV Writing 

It’s a big enough decision to start thinking about putting together a CV. It could be the first time you’ve ever had to create such a document, or it might be years since you’ve had to apply for a job, so where do you start? A quick look online can bring up a huge variety of examples: different layouts; different sections; some with colour, and some without; and you never knew there were so many font styles to choose from! 

But which one is right for you? 

The point of a CV is to provide a prospective employer with just the right amount of information about your skills and qualities, in an easily accessible way, to make them want to find out more about you. From the first few seconds of reading your CV they will be able to either see you working with them or not. So, it is crucial to choose the right CV design which best reflects what you have to offer. 

There are 5 main styles of CV:

Resume

This is a single page CV, mostly used in the USA and Canada, and you would adopt this style if you are looking to apply for roles in either of those 2 countries. Its focus is on your skills and achievements within jobs and education, and, because of the space restrictions, being concise is absolutely the key to success here – every word counts. There is no room to include anything that is not totally relevant to the job role you are applying for, and so you must have a solid understanding of the skills and experience required to fully tailor your CV. This style of CV is also used for some jobs within the Financial sector – check with the employer if they require this style, if it’s not made explicit in the job advert or application guidelines. 

Skills Based CV

The clue is in the name! This CV prioritises your skills before listing your work experience or academic achievements. You provide a list of skills as headings, once again remembering the golden rule of targeting them to the requirements of the role you are applying for, and then give evidence, written in bullet points, of when you have used that skill, For example: 

Team Work: 
•Worked in a small team whilst employed at Fred’s Diner, supporting colleagues through flexible working and sharing best practice. 
•Achieved first place in a debating competition, working with fellow team members to develop a successful group strategy. 
•Supported fellow students whilst creating an IT presentation, sharing ideas and enabling others to express themselves coherently and concisely, resulting in achieving a group mark of 92%. 

The variety of examples here, taken from work and education, give an added depth to the CV. This style of CV is useful if you have undertaken a number of short term jobs and have generated a lot of work history within a small space of time, helping to package your information in a much clearer way. This is also the ideal CV style for career changers or those with a limited amount of work history, but other, equally valuable, experience from elsewhere, such as voluntary work – the evidence you provide to support the skill can come from anywhere! 

Chronological CV

This is a nice, ordered layout – taking an employer through your employment / academic history from the present day all the way back, reversing the chronological order. Usually, you would only provide information on the last 10 years of your work history – however, this rule isn’t set in stone, and it would depend on how much work experience you had accumulated and the value of what you have done in relation to what you now want to go on to do –remember to target the CV to the role requirements! This CV works wonderfully if you have a clear employment history within the same sector, and you are quite happy to stay in that same area, providing an obvious pattern of progression and achievement. 

Hybrid CV

This is a little more complicated, but is, actually, one of the main styles of CVs used. It has a foot in both camps, taking elements from the skills based and the chronological formats, spinning them together to create something new and very effective. This style of CV would have a Key Skills or Key Competencies section and / or a Key Achievements section, highlighting the targeted skills required by the employer or sector. Following these sections would be the chronological elements of work history and education. This is a particularly good style for highlighting, very concisely, those key targeted skills - use the job description and person specification to help you focus on the right vocabulary, reflecting the employer’s expressions within your CV. A small word of warning, though: take care not to add too many of these sections in: you don’t want it too complicated or run the risk of repeating yourself in the chronological sections. 

Academic / Medical CV

This is the only style of CV where size does not matter! There is no prescribed length for an academic CV – unlike the Skills based, Chronological and Hybrid, which usually can be no longer than3 pages. However, all the information still has to be relevant and concisely expressed – it is not a cart blanche to tell them every detail about your life! As it suggests, this style of CV is used by medics / post-doctoral students or academics looking to work within research or teaching at academic institutions. It allows you to include sections on research work; teaching experience; and publications. 

A final thought ………

So, knowing more about the different types of CV you can use should make it easier to pick the style most suited to your needs! Just remember, though, that you are not alone – help is always available at CVknowhow, where our consultants can advise on style as well as content. If you are wondering if your CV is right for you, submit for a free CV review here.

Latest research discovers that 44% of jobseekers have only ever put their CV together, just the once. Does this tell us that many jobseekers only compile their CV, apply for the one job and then are lucky enough to be offered it? Wouldn't that make job hunting easy!

Further to this, 34% have created somewhere between 2 and 5 CV's when applying for a job. This relates to the CV being varied according to the similar but different roles being applied for at the same time. 

13% have created more than 10 CV's - WOW! And 9% have put together between 5 and 10 CV's.

So, how many have you done? Have you found that you are re-creating many CV's so you only ever send one CV to one company? This is how we advise jobseekers to go about their job applications to ensure they are really targeting their applications according to the job and role. So if this is YOU, well done and keep it up! 

If you require some advice on putting together a new CV, head over to our Career Centre on the website. It has plenty of great articles to help with many topics surrounding CV writing. 

Results are as follows:
- Only once = 44.4%
- twice = 14.5%
- 3-5 times = 19.5%
- 5-7 times = 6.4%
- 7-10 times = 2.4%
- >10 times = 12.9%