Global vs Local experience
Written by Dominic Moore
Pre-COVID I used to be asked the questions often: “is global experience useful”, or, “do I need to go overseas to further my career”.
During 2020, this question went away but I am sure it will come back once international travel returns - after all, consulting talent is aspirational and one of the main reasons to join a consulting firm is to travel and work in overseas offices.
So, although this article reflects past situations I am sure these insights will apply in the not too distant future. Do remember though, this subject is very personal and situational, but my thoughts are as follows:
Location matters
Not all locations are the same, in the same way that not all companies are the same. Without a doubt, there are some cities globally that can propel an individual's career, through the sheer scale of opportunities and velocity of the organisations that operate there. For example, New York, Hong Kong, Singapore and London are global financial services hubs with a multitude of roles available compared to Sydney and Melbourne. Furthermore, San Francisco, London, Berlin, Tel Aviv and Shenzen are the same when it comes to technology roles. In general, I tend to find that experience gained in the UK and the US is more valuable in Australia than experience gained in the rest of the world. This may change over time but for now, the well-trodden path seems the safest way to go and provide the easiest transition back into the Australian market.
Duration matters
Staying overseas for too long, much like staying with a company for too long nowadays, can have diminishing returns. Conversely, staying for too short a period of time may not yield a return, and, in fact, may raise more questions than anything. To me, the optimal time to spend in an overseas market is between 3 and 7 years. This time allows an individual to work for maybe 1 or 2 companies in 1 or 2 roles, therefore not skipping a beat when it comes to climbing the ladder, all whilst potentially working at the core (the head office) of iconic global brands such as Google, Tencent, Visa, Johnson & Johnson, JP Morgan, etc.
Career stage matters
There is never an optimal time to go overseas, as each individual runs their own race, but in general, I mostly see individuals in their mid-late 20’s heading overseas before returning when life is more settled, with ageing parents needing help and young children in tow. This mid-late 20’s period is where careers can really accelerate, with promotions and money coming faster than at any other time. Where better to do this than in a dynamic global market, working with the best and brightest, driving hard to deliver impactful work? This timeline also fits in with the idea that your 20’s are for learning (accelerating) and your 30’s are for earning (payback). Your 40’s are for yearning by the way, and I do see a significant percentage of individuals looking for overseas opportunities at this point for two main reasons: (1) to go before it's too late, or (2) because the Australian market is small and you may have to go overseas to find that next big job.
Networking matters
I am a great believer that we all accumulate people in our lives in circles. Your first circle is where you grew up. Your second circle is where you went to school. Your third circle is where you went to University, and so on. Applying this theory, working and/or studying overseas therefore adds another circle to your story, giving you access to a broader perspective and to contacts you can lean on, and who may also lean on you, during challenges - stories and people for you to revisit when faced with certain scenarios or challenges. Each of these circles may overlap but as individuals move through their career - from doing to leading - people and contacts that can be leveraged, trust me, become increasingly important.
Humility matters
Once you have gone overseas you may need to leave your ego at the door when you return. Australia is not the highest paying market or the largest market in the world. And given the strong lifestyle proposition, there is no shortage of people trying to land a good job here. It may take some time to find the right role that can bring you home. It may well pay you less than you currently get paid, particularly if you are in the US. It may well have a less fancy job title than your current role. It may have fewer people and smaller budgets to manage. None of these will be true for certain individuals of course (the CEO of a major corporate paid millions to be brought into the country) but more often than not I find these things to be true. The bottom line is often: if you want to come home you need to meet the market or you may be sitting on the side for some time.
In summary, I would thoroughly recommend time spent living and working overseas. Such experience can hugely accelerate a career path, give you access to a breadth and depth of roles simply not available in Australia, and the networks you make can last you a lifetime. But with the upside comes a downside, in that it can be hard calibrating back upon your return.