Expats Rank USA among Best Countries in the World for Career Progression, HSBC Survey Finds
09 January 2019 - 1:30AM
Business Wire
Career opportunities and professional
development remain top reasons expats choose to move to the United
States
New year, new job, new country? Moving to the US could be the
key to unlocking your career potential, according to HSBC’s Expat
Explorer Careers Survey.
The survey of more than 1,300 expatriates living in the United
States reveals that career progression is the number one reason
people move to America. Nearly two thirds (63%) report more
opportunities to gain new skills and almost half (48%) say the work
they do here is more fulfilling than at home. Similarly, expats
think that work culture in the US is more productive, progressive
and modern.
But, being ambitious is not without its challenges. Overall, the
US ranked as the 8th best place to work in the world, partly
because of the intense and demanding work culture that has come to
define the country’s workforce.
“The new year can often be a catalyst for considering where you
are and where you want to be, particularly when it comes to your
career,” said John Goddard, Head of HSBC Expat.
Global Ranking
Compared to year-on-year results, the US jumped 3 points in the
global ranking in 2018 despite a difficult workplace
environment.
Year-on-year overall career rankings Country
2015 2016
2017 2018
Germany 3 2
2 1
Bahrain
7 10 12
2
United Kingdom 18
9 9
3
United Arab Emirates 6
4 4 4
Switzerland 1 1
3 5
Sweden
2 3 6
6
Singapore 5
6 5
7
USA 10 17
11 8
Canada
15 16 10
9
Hong Kong 8
8 13 10
Work hard, play hard?
According to the survey, 45% of expats think their job here is
more stressful and half (50%) socialize less with colleagues. A
majority (79%) work the same or longer hours than they did at home
and a third (33%) take fewer breaks during the day.
Keeping a job isn’t easy either. Nearly 40% (39%) of respondents
report feeling less job security than in their home country,
compared to only 24% of total global survey responses.
Not surprisingly, expats ranked the US close to last (27/31) on
a list of countries with the best work-life balance, narrowly ahead
of Japan, Hong Kong, the Philippines and Turkey.
Money, Money, Money
Clocking extra hours in the office reaps big rewards for some.
According to the survey, 66% of respondents said their earning
prospects are better in the US than in their home country and 64%
of expats reported increased income by more than 10%. Even more
impressive is the number of foreigners who receive a medical
allowance (59%), relocation bonus (38%) and money to fly home (17%)
from their employer.
New Year’s Resolutions
While elevating your career in a new country can be exciting and
fruitful, it can also put a strain on your wallet if you don’t seek
out the right support.
“Working abroad, especially in the US, can be stressful if you
don’t know how to properly manage your finances,” said Paul
Mullins, Regional Head of International Banking for HSBC in the US
and Canada.
“As an expat myself, I know firsthand how much the little things
matter— knowing where to put your savings, how to transfer funds
and protect against currency fluctuations is critical to success.
Feeling confident that your money is in a good place with the help
of a professional advisor allows you to focus on what really
matters.”
NEW YEAR’S RESOLUTIONS
- Build confidence: The United
States is the place to go if you want to build your confidence. 61%
of people say working here has upped their self-esteem
- Embrace change: Looking to be
more flexible? The majority (61%) of expats living in the US say
they’ve learned to be more adaptable
- Start a business: More than half
(51%) of survey respondents agree that the US is a good place for
an expat to start a business
Note to editors
HSBC Bank USA, National Association (HSBC Bank USA, N.A.)
serves customers through retail banking and wealth management,
commercial banking, private banking, and global banking and markets
segments. It operates bank branches in: California; Connecticut;
Delaware; Washington, D.C.; Florida; Maryland; New Jersey; New
York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A.
is the principal subsidiary of HSBC USA Inc., a wholly-owned
subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A.
is a Member of FDIC. Investment and brokerage services are provided
through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and
insurance products are provided through HSBC Insurance Agency (USA)
Inc.
HSBC Holdings plc, the parent company of the HSBC Group,
is headquartered in London. The Group serves customers worldwide
from around 3,800 offices in 66 countries and territories in
Europe, Asia, North and Latin America, and the Middle East and
North Africa. With assets of US$2,603bn at 30 September 2018, HSBC
is one of the world’s largest banking and financial services
organizations.
About the Expat Explorer Survey
The Expat Explorer survey was open to adults over 18 years old
currently living away from their country of origin/home country.
The survey was completed by 22,318 expats from 163 countries and
territories through an online questionnaire in March and April
2018, conducted by YouGov and commissioned by HSBC Expat. A minimum
sample of 100 expat respondents and at least 30 expat parents is
required for a country to be included in the league tables, with 31
countries qualifying in 2018.
Expat Explorer online
Report and country comparisons:
https://expatexplorer.hsbc.com/survey/Tweet @:
www.twitter.com/expatexplorerFacebook:
www.facebook.com/hsbcexpatExpat experiences blog:
www.expatexplorer.blogspot.com/Expats’ ratings of 46 host countries
are available to explore online through the Expat Explorer
interactive tool.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190108005625/en/
MediaMatt Klein, +1 212 525 4644
matt.klein@us.hsbc.comCarolyn Hamm, +1 212 525 0720
carolyn.hamm@us.hsbc.com
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