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R E LO C AT ION M OTIVATION S


INTRODUCTION Welcome to Selby Jennings' Relocation Motivations Report for 2013. Selby Jennings, part of the Phaidon International Group, regularly produce specialist market reports and Industry Insights to provide our clients and candidates with niche market intelligence, whilst further re-enforcing our specialism within our chosen vertical markets. We hope you find this report useful and informative. If you have any feedback or comments about this report or require any information on recruitment and careers within the Financial Services Space please do not hesitate to contact us.

Adam Buck CEO, Phaidon International

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Executive Summary This report provides an outline of global relocation trends in 2013. Compiled from a survey of 1,107 professionals, it provides a detailed overview of relocation trends for the following sectors: - Accounting and Finance

- Economics, Strategy and Research

- Corporate Banking

- Fund Management & Buyside Sales and

- Financial Technology

Marketing

- Sales and Trading

- Risk Management and Compliance

- Capital Markets and Private Equity

- Structuring & Quantitative Research and

- Quantitative Analytics

Trading

Based on survey responses, each sector has been analysed in terms of their likelihood of relocation, and allocated a "likelihood of relocation" score out of ten, whereby a high score indicates a higher likelihood of relocation. Overall, the report has found that:

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-

40.2% of finance professionals are currently working outside of their native country.

-

The majority of finance professionals working in permanent positions (43.8%) are "likely" to relocate, and

41.0% are "actively looking to relocate".

-

43.5% of contractors are "likely" to relocate and 40.5% are "actively looking to relocate".

-

Europe is the preferred region for both permanent and contract professionals, with 30.8% of permanent

staff and 35.8% of contract staff choosing Europe as a preferred region.

-

With 17.9% of the vote, the US is overall the most popular location to relocate to on a permanent basis,

whereas the UK is the most popular location to relocate to on a contract basis (23.3%).

-

Career progression is the most likely motive to relocate on a permanent basis (50.9%), followed by

salary and bonus (15.1%) and to experience another culture or location (13.8%). In comparison,

contractors would most likely relocate to gain specific skills and experience (30.1%) followed by to

experience another culture (22.8%) and to improve their work/ life balance (21.2%).

-

The preferred length of time to relocate for on a permanent basis is 3-5 years (40.0%), followed by "as

long as possible" (32.1%). Contractors would ideally relocate for 1-2 years (29.5%), 3-5 years (27.5%) or

"as long as possible" (25.4%).

-

The majority of respondents would expect or require a 21%+ salary increase in order to relocate for a

permanent role (48.9%) or a contract role (30.1%).

-

The majority (56.6%) of permanent professionals would consider relocating for a contract role,

and the vast majority (89.4%) of contractors would consider relocating for a permanent role. The main

motives for permanent staff to relocate as a contractor are to gain specific skills and experience (35.7%), to

get a higher rate of pay (29.7%) or to experience another culture or location (17.9%). The key reason

that contractors would relocate for a permanent position is for career progression (48.0%).


CONTENTS – INTRODUCTION

1

– Executive summary

2

– CONTENTS

3

– regional overview

4

– Gender comparison

6

– SECTOR OVERVIEWS

8

- Accounting and Finance 8 - Capital Markets and Private Equity 10 - Corporate Banking 12 - Economics, Strategy and Research 14 - Financial Technology 16 - Fund Management & Buyside Sales and Marketing

18

- Quantitative Analytics 20 - Risk Management and Compliance 22 - Sales and Trading 24 - Structuring & Quantitative Research and Trading 26

– ABOUT SELBY JENNINGS - About Selby Jennings

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3


regional overview

Which region would you mos

NORTH AMERICA Permanent: 20.6% Contracts: 13.0%

E Perm Cont

A Perm Cont LATIN AMERICA Permanent: 2.9% Contracts: 4.7%

ANYW Permanen Contract

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st likely consider relocating to?

EUROPE manent: 30.8% tracts: 35.8% MIDDLE EAST Permanent: 6.9% Contracts: 7.8%

AFRICA manent: 1.6% tracts: 0.5%

ASIA PACIFIC Permanent: 24.2% Contracts: 18.7%

WHERE nt: 12.9% ts: 19.7%

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gender comparison

Likelihood of relocation:

36.3%

Actively looking to relocate

42.0%

Likely

44.1%

Likely

43.5%

Unlikely

17.6%

Unlikely

12.9%

Never

2.0%

Never

1.6%

Actively looking to relocate

Salary change expected/ required for relocation: FEMALES

MALES

39.9%

46.4%

25.0% 22.8

17.6% 8.5% 9.0%

Willing to take a reduction

6

No change

8.6%

0-10% 11-20% 20%+ increase increase increase

11.3% 10.9%

No Willing to take a change reduction

0-10% 11-20% 20%+ increase increase increase


Ideal period of time to relocate for:

34.1%

30.8%

9.0%

26.1%

0-2 years

3-5 years

6-10 years

As long as possible

18.1%

39.0%

11.1%

31.8%

0-2 years

3-5 years

6-10 years

As long as possible

Most likely motive for relocation:

1. Career Progression 30.2% 2. Experience Another Culture 18.5% 3. Work/ Life Balance 15.0%

1. Career Progression 30.1% 2. Salary & Bonus/ Pay Rate 20.3% 3. Experience Another Culture 14.5% 7


ACCOUNTING AND FINANCE permanent P RO F E S S I O NA LS Accounting and Finance professionals working in permanent roles have an overall relocation score of 8.08 out of 10, which is slightly lower than most other sectors. As with several sectors to follow, career progression is the greatest motive for relocation, closely followed by work/ life balance and the opportunity to experience another culture or location. Most professionals would expect or require a 20%+ salary increase to relocate, with several respondents justifying this due to the high costs associated with relocating. KEY FACTS - 53.0% of respondents are "likely" to relocate, and 28.8% are "actively looking to move". - The most likely motive for relocation is Career Progression (42.1%). - With 19.3% of the vote, the UK is the most popular country to relocate to, followed by the US (15.8%). - The most popular period of time to relocate for is 3-5 years (45.6%), followed by "as long as possible" (31.6%). - 61% of respondents would consider relocating on a contractual basis. The most likely motive for doing this

would be to gain specific skills and experience (40.5%), followed by to increase their salary (21.6%).

Most popular region to relocate to:

Europe 35.1%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

28.8%

Likely

53.0%

Unlikely

15.2%

Never

3.0%

Most likely motive for relocation:

33.3% 21.1%

15.8%

21.1%

Career Progression 42.1%

8.8% Willing to take a reduction

8

No change

0-10% increase

11-20% increase

20%+ increase


contract P RO F E S S I O NA LS Accounting and Finance contractors are more driven to relocate than permanent staff. With an overall relocation score of 8.45 out of 10, a huge 59.1% of Accounting and Finance contractors are "actively looking to relocate". Unlike other sectors, the majority of contractors within this space (35.3%) would require an 11-20% rate increase to relocate, in comparison to other sectors where the majority of contracts answered that they would require a 21%+ rate increase to relocate. KEY FACTS

Most popular region to relocate to:

- 59.1% of respondents are "actively looking

to relocate", and 27.3% of respondents are

"likely" to relocate.

- Contractors'

most

likely

motive

Europe 41.2%

for

relocation is work/ life balance (35.3%), followed by a wish to gain specific skills or

Likelihood of relocation:

experience (29.4%) and a desire to

Actively looking to relocate

59.1%

experience another culture or location

Likely

27.3%

Unlikely

13.6%

Never

0.0%

(23.5%). - With 41.2%, Europe is the most popular

region to relocate to, with the UK being the

overall most sought after country to

Most likely motive for relocation:

relocate to (17.6%).

- The most popular period of time to relocate for as a contractor is 1-2 years

Work/ life balance 35.3%

(45.6%). - 82.4% of contractors would relocate

Rate change expected/ required for relocation:

for a permanent role - career progression

35.3%

(35.7%), work/ life balance (28.6%) and job

continuity (21.4%) are the key motives.

- The majority of contractors (35.3%) would require a 11-20% rate increase to relocate

17.6% 11.8% 11.8%

Willing to take a reduction

No change

17.6% 5.9%

0-5% increase

6-10% increase

11-20% increase

20%+ increase

9


C APITAL MARKETS & PRIVATE EQUITY permanent P RO F E S S I O NA LS With a relocation score of 8.33 out of 10, Capital Markets and Private Equity professionals working in permanent roles are relatively likely to relocate. The majority of respondents (46.6%) are "actively looking to relocate", with 39.7% "likely" to relocate for a permanent position. Unlike other sectors, the majority of professionals in this sector (38.6%) would expect or require an 11-20% salary increase to relocate for a permanent role, rather than the 21%+ salary increase that is expected in most other sectors. In terms of the ideal period of time for relocation, several respondents expressed a need to relocate for a long enough period of time in order to ensure their children have a good education, and to maximise stability and minimise disruption. Others mentioned a need to say in a particular location for long enough to ensure that it is worthwhile. For example: one Private Equity professional in Argentina said, “less than 6-10 years would not make a difference to my career and personal finance.” In particular several respondents mentioned a need to relocate to a specific location in order to secure a position that fits their experience and career goals. For example one IBD and Capital Markets professional based in the Netherlands commented: “London is the most likely place with jobs that would fit with my work experience and

responsibilities. Having said that, this could be in one of the other main European centres as well. Position and career prospects are key.”

Most popular region to relocate to:

Europe 28.1% APAC 28.1%

Salary change expected/ required for relocation: 38.6%

8.8% Willing to take a reduction

10

46.6%

Likely

39.7%

Unlikely

13.8%

Never

0.0%

Most likely motive for relocation:

Career Progression 59.6%

5.3% 0-10% increase

Actively looking to relocate

33.3%

14.0%

No change

Likelihood of relocation:

11-20% increase

20%+ increase


Likewise, several respondents justified a move to Asia Pacific (Singapore in particular), since it is a growing market, and therefore is seen to present better career and business opportunities. Other reasons for relocating to certain locations included: - Tax benefits (Bermuda/ UAE/ Singapore in particular) - Ability to speak the language - Expat friendly locations

KEY FACTS

contract P RO FES S I O N AL S - 46.6% are "actively looking to move" and

- 56.3%

39.7% are "likely" to relocate.

relocate, and 31.3% are "actively looking to

of

respondents

are

"likely"

to

relocate".足 - With 17.5% of the vote, the UK is the most

popular country to relocate to.

- With 23.1%, UAE is the overall most popular

country to relocate to.

- The most likely motive for relocation is

Career Progression (59.6%).

- Contractors'

most

likely

motive

for

relocation is to gain specific skills or - The most popular period of time to

experience (53.8%), followed by to increase

relocate for is 3-5 years (43.9%), followed

their rate (23.1%).

by "as long as possible". - Capital Markets and Private Equity contractors

- 56.1% of respondents would consider

are the most demanding in terms of the rate

change they would require in order to relocate

for another contract role. With a huge 61.5%,

relocating on a contractual basis.

- The most likely motive for relocating as a

the majority of contractors would require

contractor would be to gain specific

a 20%+ rate increase to relocate for another

skills and experience (37.5%), followed

contract role.

by to experience another culture or

location (28.1%).

- 84.6% of contractors would relocate for a

permanent role. With 45.5% of the vote, career

- No respondents would "never" consider

progression is the most likely motive for

contractors to relocate for a permanent

relocating for a permanent role.

role, followed by increased salary and bonus - The majority would expect a 11-20% salary

and job continuity.

increase to relocate for a permanent role. 11


CORPORATE BANKING permanent P RO F ES S I O NA L S Corporate Banking professionals are one of the most positive sectors in terms of their likelihood of relocation - 92.8% of respondents are either "likely" to relocate or "actively looking to relocate" and the sector gained the second highest relocation score of 8.38 out of 10. The majority chose career progression as the most likely motive for them to relocate, with several respondents expressing the view that international experience improves a candidates' marketability and all round experience. With regards to salary change, no respondents would be willing to take a salary reduction in order to relocate. Respondents justified their request for salary increases with the following reasons: - to ensure that their salary is in line with international inflation rates - to remunerate the risks involved in relocation - to be in line with career progression - to offset the different cost of living - to offset the costs of relocation For example, one respondent in Europe stated: "The costs of relocation must be taken into consideration when

taking a decision to relocate. I will be willing to get the same salary as long as the costs of relocation are subsidised." Most respondents chose 3-5 years as the ideal period of time to relocate for, as it was largely felt that this period would provide enough time to establish themselves and build strong networks.

Most popular region to relocate to:

Europe 36.6%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

45.2%

Likely

47.6%

Unlikely

7.2%

Never

0%

Most likely motive for relocation:

56.0%

12.2% 9.8%

Career Progression 51.2%

22.0%

0.0% Willing to take a reduction

12

No change

0-10% increase

11-20% increase

20%+ increase


The most popular regions for relocation were Europe and Asia Pacific, with several respondents stating that their choice of location was for the cultural or physical proximity to their native country, friends or family. Other popular responses included a preference to move to a financial hub, centre of transactional banking or growth area, as well as standard of living or to return to a location where they had previous success or experience. Unlike the majority of sectors, Singapore is the country that Corporate Banking professionals in permanent roles would most likely consider moving to, rather than the UK or the US.

KEY FACTS

contract P RO FES S I O N AL S - 47.6% of respondents are "likely" to relocate,

- Contractors within Corporate Banking were

and 45.2% are "actively looking to move".

most positive about relocation in comparison to contractors working within different fields,

- The majority of respondents (51.2%)

with 60% "actively looking to relocate", and a

chose career progression as the most likely

relocation score of 8.6 out of 10.

motive for them to relocate, followed by the opportunity to experience another

- With 40% of the vote, UAE is the most popular

location for Corporate Banking contractors

culture or location (21.1%).

to relocate to.

- The most popular region to relocate to is Europe (36.6%) followed by Asia Pacific

- The most popular motives to relocate as a

(31.7%).

contractor are to gain specific skills and

experience or to experience another culture.

- With 9% of the vote, Singapore is the most

popular country to relocate to.

- With

60%

of

the

vote,

the

most

popular period of time to relocate for as - The most popular period of time to

relocate for is 3-5 years (39.0%), followed by

"as long as possible" (29.3%).

a contractor is "as long as possible".

- The

majority

of

contractors

would

require a 20%+ rate increase to relocate - The majority (52.5%) would not consider

for a contract role.

relocating on a contractual basis. - Most contractors would relocate for a

- Of those who would relocate for a contract

position, 52.6% would do so to gain specific

being career progression and to experience

skills and experience.

permanent position - the most popular motives another culture or location.

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ECONOMICS, STRATEGY AND RESEARCH permanent P RO F ES S I O NA L S With a score of 8.05 out of 10, Economics, Strategy and Research gained the lowest relocation score for permanent professionals in comparison to all other sectors, and are therefore the least likely group to relocate.That said, their score is still high, with over half of the respondents (50.5%) being "likely" to relocate, and 27.2% "actively looking to move". Interestingly, this sector has the highest proportion of professionals (11.6%), who would be willing to take a reduction in order to relocate. KEY FACTS - 50.5% of respondents are "likely" to relocate, and 27.2% are "actively looking to move". - Overall Europe is the region that the majority of respondents (33.7%) would most likely consider relocating

to. However, with 25.3% of the vote, the US is the most popular country to relocate to.

- Permanent Economics, Strategy and Research professionals were split almost 50:50 concerning whether

they would relocate on a contractual basis, with 51.1% stating that they would not consider relocating on

a contractual basis.

- On the other hand, 48.9% of professionals would relocate as a contractor, of which 35.6% would do so to

gain specific skills and experience, and 31.1% would do so to increase their rate of pay.

Most popular region to relocate to:

Europe 33.7%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

27.2%

Likely

50.5%

Unlikely

22.3%

Never

0.0%

Most likely motive for relocation:

48.4% 26.3% 11.6% Willing to take a reduction

14

6.3%

7.4%

No change

0-10% increase

11-20% increase

Career Progression 54.7% 20%+ increase


contract P RO F ES S I O NA L S The relocation score for contractors working within Economics, Strategy and Research was 8.19 out of 10, with 47.2% of contractors "likely" to move. Unlike most other sectors, when asked which region they would most likely consider relocating to on a contractual basis, the majority of contractors answered "anywhere". Likewise unlike other sectors, the majority of contractors working within Economics, Strategy and Research would expect a 6-10% rate increase in order to relocate, closely followed by 23.3%, who would expect a 21%+ rate increase. KEY FACTS

Most popular region to relocate to:

- The majority of contractors (47.2%)

are "likely" to relocate and

"actively looking to relocate".

36.1% are

- The most popular country to relocate to on

Anywhere 30.0%

a contractual basis is the UK (8.0%). However contractors working with the

Likelihood of relocation:

Economics, Strategy and Research Space

Actively looking to relocate

36.1%

were the only group of respondents

Likely

47.2%

Unlikely

16.7%

Never

0.0%

whereby the majority (30%) were happy

to consider relocating to any location.

- With 33.3% of the vote, the ideal period of time to relocate for on a contractual basis

Most likely motive for relocation:

is 1-2 years.

- The majority of contractors would expect

or require a 6-10% rate increase to relocate.

This statistic bucks the trend in comparison

To gain specific skills/ experience 33.3%

to other sectors, where the majority of

contractors expect or require at least a 11%

rate increase in order to relocate.

- 90.0% of contractors would consider

Rate change expected/ required for relocation: 26.7% 13.3%

16.7%

motive (37.0%).

13.3% 6.7%

relocating for a permanent role, of which career progression was the most likely

23.3%

Willing to take a reduction

No change

0-5% increase

6-10% increase

11-20% increase

20%+ increase

15


FINANCIAL TECHNOLOGY permanent P RO F ES S I O NA L S With a relocation score of 8.12 out of 10, the majority of professionals working permanently within Financial Technology (48.5%) are "likely" to relocate, with 33.3% "actively looking to move". No respondents would accept a pay reduction in order to relocate for a permanent role, with this sector having the highest percentage of professionals to expect a 21%+ salary increase. Professionals who would relocate on a contractual basis, would do so to gain a higher rate of pay, rather than to gain skills or experience as found in the majority of other sectors. KEY FACTS - 48.5% of respondents are "likely" to relocate, and 33.3% are "actively looking to move". - The UK is the most popular country to relocate to (27.6%). - The most popular period of time to relocate for is 3-5 years (51.7%), followed by "as long as possible" (31.0%). - No respondents would be willing to take a reduction in pay in order to relocate. - 58.6% of respondents would consider relocating on a contractual basis, of which over half (52.9%) would do so in order to get a higher rate of pay.

Most popular region to relocate to:

Europe 48.3%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

33.3%

Likely

48.5%

Unlikely

15.2%

Never

3.0%

Most likely motive for relocation:

62.1%

0.0% Willing to take a reduction

16

6.9% No change

Career Progression 58.6%

17.2% 13.8% 0-10% increase

11-20% increase

20%+ increase


contract P RO F ES S I O NA L S Contractors working within Financial Technology are the least likely professionals out of all sectors surveyed to relocate, gaining a relocation score of 7.94 out of 10. Nevertheless, this sector is still inclined to relocate, with 52.9% of respondents "likely" to relocate, and 23.5% "actively looking to move". Rather than expecting a 21%+ rate increase in order to relocate, as in other sectors, the majority of Financial Technology contractors would expect or require a 11-20% rate increase in order to relocate for a contract role. KEY FACTS

Most popular region to relocate to:

- 52.9% of respondents are "likely" to relocate

Europe 38.5%

and 23.5% are "actively looking to relocate".

- With 23.1%, of the vote, the UK is the most

popular region to relocate to.

- Contractors'

most

likely

motive

for

Likelihood of relocation:

relocation is work/ life balance (30.8%),

Actively looking to relocate

23.5%

followed by a wish to gain specific skills or

Likely

52.9%

Unlikely

17.6%

Never

5.9%

experience and a desire to experience

another culture or location.

- The most popular period of time to relocate for as a contractor is 1-2 years

Most likely motive for relocation:

(46.2%). - The majority of contractors (38.5%) would require a 11-20% rate increase to relocate

for a contract role.

- Most contractors would relocate for a

Work/ life balance 30.8% Rate change expected/ required for relocation:

permanent role.

- With

35.7%

progression

38.5%

of is

the

the key

vote,

motive

for

contractors to relocate for a permanent role.

23.1%

career

23.1%

7.7%

7.7% 0.0%

Willing to take a reduction

No change

0-5% increase

6-10% increase

11-20% increase

20%+ increase

17


FUND MANAGEMENT & BUYSIDE SALES AND MARKETING permanent P RO F E S S I O NA LS The majority of Fund Management and Buyside Sales/ Marketing professionals in permanent positions (40.6%) are "likely" to relocate, and 37.5% are "actively looking to relocate", translating to a relocation score of 8.16 out of 10. As with most sectors, the vast majority of respondents (48.4%) chose career progression as the most likely motive for relocation. The majority of Fund Management and Buyside Sales/ Marketing professionals (53.8%) would not consider relocating on a contractual basis - this sector is one of only 3 sectors supporting this trend. KEY FACTS - 40.6% of respondents are "likely" to relocate, and 37.5% are "actively looking to move". - With 19.8% the US is the most popular country to relocate to (27.6%). - The most popular period of time to relocate for is 3-5 years (38.5%), followed by "as long as possible" (29.7%). - The majority of professionals working within the Fund Management and Buyside Sales/ Marketing Spaces (53.8%) would not consider relocating on a contractual basis. Of those who would relocate as a contractor,

the most popular motive for relocation is to gain specific skills and experience (33.3%) followed by a higher

rate of pay.

Most popular region to relocate to:

Europe 33.0%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

37.5%

Likely

40.6%

Unlikely

21.9%

Never

0.0%

Most likely motive for relocation:

46.1%

7.7% Willing to take a reduction

18

13.2% 12.1%

No change

0-10% increase

Career Progression 48.4%

20.9%

11-20% increase

20%+ increase


contract P RO F E S S I O NA LS Contractors within this sector gained a relocation score of 8.08 out of 10 - 41.7% of contractors are "likely" to relocate and 33.3% are "actively looking to relocate". As with most other sectors, the majority of contractors would relocate as a contractor in order to gain specific experience or a particular skill set and of those who would relocate on a permanent basis, the majority (66.7%) would do so for career progression.The most popular period of time to relocate for is 3-5 years. KEY FACTS

Most popular region to relocate to:

- 41.7% of contracts professionals within

Europe 50.0%

the Fund Management and Buyside Sales/

Marketing Space are "likely" to relocate

and 33.3% are "actively looking to relocate".

- Contractors'

most

likely

motive

for

relocation is to gain specific skills and

Likelihood of relocation:

to

Actively looking to relocate

33.3%

experience another culture or location and

Likely

work/ life balance.

41.7%

Unlikely

25.0%

Never

0.0%

experience

(33.3%), followed

by

- With 33.3% of the vote, the UK is the most sought after country to relocate to, and Europe the overall most popular region to

Most likely motive for relocation:

relocate to.

- The most popular period of time to relocate for is 3-5 years, followed by 1-2 years.

To gain specific skills/ experience 33.3%

- The

majority

of

contractors

would

Rate change expected/ required for relocation:

require a 20%+ rate increase to relocate

33.3% 25.0%

for a contract role.

16.7% 16.7%

- The majority of contractors would relocate for a permanent role, of which 66.7%

would do so for career progression.

8.3% 0.0% Willing to take a reduction

No change

0-5% increase

6-10% increase

11-20% increase

20%+ increase

19


QUANTITATIVE ANALYTICS permanent P RO F ES S I O NA L S With a relocation score of 8.24 out of 10, the majority of Quantitative Analytics professionals working within permanent positions (46.4%) are "actively looking to relocate" and 35.7% are "likely" to relocate. The most likely motive for relocation is career progression. Unlike most sectors, when asked which region professionals would most likely consider relocating to, the majority of Quantitative Analytics respondents chose North America, rather than Europe. The US was also the country that the majority of respondents (26.9%) would most likely consider moving to. The main reasons for relocating to the US included better work opportunities, higher salaries, a belief that it’s future seems brighter than Europe’s. Furthermore the ability to speak the language, a comfortable standard of living and a desire to return were also key motives. In comparison, respondents expressed the following reasons for relocating to Asia Pacific: preference towards Asian culture, better way of life, opportunity to travel in Asia, climate, comparative advantage, ability to speak the language. Unlike other sectors, when asked what period of time professionals would ideally locate for, the majority of respondents (42.3%) answered "as long as possible", in comparison to other sectors where the majority of respondents typically preferred to relocate for 3-5 years.

Most popular region to relocate to:

North America 34.6%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

46.4%

Likely

35.7%

Unlikely

17.9%

Never

0.0%

Most likely motive for relocation:

42.3%

7.7% Willing to take a reduction

20

Career Progression 50.0%

23.1%

19.2% 7.7% No change

0-10% increase

11-20% increase

20%+ increase


With regards to the salary change expected or required for relocation, almost half of the respondents (42.3%) stated that they would require a 21%+ salary increase. Others suggested that rather than requiring a set salary increase, they expect to be paid the equivalent rate as those working within the country they are relocating to. Assitionally, one respondent expressed the following view: "I'd expect a similar salary to what I'm getting paid here (not direct currency conversion, but based on

similar standard of living that I can afford here)".

KEY FACTS

contract P RO FES S I O N AL S - 46.4%

of

Quantitative

Analytics

- 85.8% of contractors working within the

professionals working on a permanent

Quantitative Analytics

basis are "actively looking to relocate", and

"actively looking to relocate", or "likely" to

relocate.

35.7% are "likely" to relocate.

Space

are

either

- North America is the most sought after

- With a huge 75% of the vote, Europe is the

region to relocate to with 34.6% of the

most popular region to relocate to, of which

vote

- The US is the country that the majority

- Work/ life balance is the most likely motive

of respondents (26.9%) would most likely

for relocation - around half of the contract

professionals

consider relocating to.

- The majority of respondents

the UK is the most popular country.

working

within

Quantiative

Analytics opted for this option.

(42.3%)

stated that the ideal period of time to relocate

- The most popular period of time to

for would be "as long as possible", followed

by 3-5 years (38.5%).

relocate for as a contractor is 1-2 years.

- Just over half of contracts respondents would - 57.7% of respondents would consider

require a 20%+ rate increase to relocate for a

contract role.

relocating on a contractual basis.

- The preferred period of time to relocate

- The majority of contractors would relocate

for a permanent role, with 67% choosing career

progression as the most likely motive for them

to do so, followed by work/ life balance.

for on a permanent basis is 3-5 years.

- The most likely motive for relocating as a contractor would be to gain specific skills

and experience or to get a higher rate. 21


RISK MANAGEMENT & COMPLIANCE permanent P RO F E S S I O NA LS Permanent staff working within the Risk Management and Compliance Sectors are the most likely to relocate in comparison to permanent staff working in other sectors, with the sector gaining an overall relocation score of 8.44 out of 10 in favour of relocation. Also bucking the trend, the majority of respondents (35.9%) would most likely consider Asia Pacific to relocate to on a permanent basis, in comparison to Europe, which is the favourite region for most other sectors. KEY FACTS - 51.8% of respondents are "actively looking to relocate", and 41.2% of respondents are "likely" to relocate. - 35.9% would most likely consider Asia Pacific to relocate to on a permanent basis. - With 17.9% of the vote, the UK is the most popular country to relocate to. - The majority of respondents (41%) stated that if they were to get a permanent position abroad, they would

ideally relocate for "as long as possible".

- 59.5% of respondents would consider relocating on a contractual basis. The most likely motive for doing this

would be to gain specific skills and experience (40.4%), followed by to earn more money (31.9%).

Most popular region to relocate to:

APAC 35.9%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

51.8%

Likely

41.2%

Unlikely

5.9%

Never

1.1%

Most likely motive for relocation:

52.6%

22

5.1%

7.7%

Willing to take a reduction

No change

12.8% 0-10% increase

Career Progression 52.6%

21.8%

11-20% increase

20%+ increase


contract professionals Contractors working within Risk Management and Compliance gained a relocation score of 8.28 out of 10, with 44.4% of contractors "actively looking to relocate" and 38.9% "likely" to relocate. As with permanent staff working within this sector, and also bucking the trend in comparison to other sectors, the most popular region for contractors to relocate to is Asia Pacific. Also different from other sectors, most contractors (38.9%) would most likely relocate in order to experience another culture or location, rather than to gain specific skills or experience. KEY FACTS

Most popular region to relocate to:

- 44.4%

of

contractors

working

in

Compliance and Risk Management are

"actively looking to relocate", and 38.9% of

respondents are "likely" to relocate.

- With 38.9% of the vote,

a desire to

experience another culture or location is a

contractor's

most

likely

APAC 27.8%

motive

for

Likelihood of relocation: Actively looking to relocate

44.4%

Likely

38.9%

Unlikely

16.7%

Never

0.0%

relocation. - The US is the overall most sought after

country to relocate to (22.2%).

- The most popular period of time to

Most likely motive for relocation:

relocate for as a contractor is 1-2 years (33.3%). - The

majority

of

contractors

would

require a 20%+ rate increase to relocate as

a contractor.

Experience another culture/ location 38.9% Rate change expected/ required for relocation: 33.3%

- 83.3% of contractors would relocate for a permanent role - career progression (33.3%), salary and bonus (26.7%) and

work/ life balance (20.0%) are the key motives

to do so.

27.8%

22.2% 11.1% 5.6% 0.0% Willing to take a reduction

No change

0-5% increase

6-10% increase

11-20% increase

20%+ increase

23


SALES AND TRADING permanent P RO F E S S I O NA LS With a relocation score of 8.26 out of 10, 46.5% of Sales and Trading professionals in permanent positions are "likely" to relocate and 39.6% are "actively looking to relocate". As with the majority of other sectors, the most likely motive for relocating for is career progression. However unlike other sectors, of those who would consider relocating on a contractual basis (58.9%), the majority would do so to get a higher rate of pay, rather than to gain specific skills or experience, which is the most popular option in most other sectors. KEY FACTS - The majority of permanent Sales and Trading professionals (46.5%) are "likely" to relocate, and 39.6% are

"actively looking to move".

- With 24% of the vote, the US is the most popular country to relocate to. - The most popular period of time to relocate for is 3-5 years (42.6%), followed by "as long as possible" (29.1%). - 58.9% of respondents would consider relocating on a contractual basis. respondents stated that the most likely motive for

The majority of

relocating for a contract role would be to

get a higher rate of pay (36.1%), closely followed by to gain specific skills or experience (34.9%).

Most popular region to relocate to:

Europe 31.9%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

39.6%

Likely

46.5%

Unlikely

13.8%

Never

0.0%

Most likely motive for relocation:

51.1%

Career Progression 57.4%

29.1%

24

7.1%

7.1%

5.7%

Willing to take a reduction

No change

0-10% increase

11-20% increase

20%+ increase


contract professionals With 44.4% of contracted Sales and Trading professionals "likely" to relocate on a contractual basis, and 41.7% "actively looking to relocate", this sector received a relocation score of 8.22 out of 10. The two main motives for relocation are to gain specific skills and experience or to increase their rate. Unlike most other sectors, where contractors would ideally prefer to relocate for between 1-5 years, when asked the ideal period of time to relocate for as a contractor, the majority of Sales and Trading contractors answered "as long as possible". KEY FACTS

Most popular region to relocate to:

- 44.4% of contracted Sales and Trading

Europe 46.4%

professionals are likely to relocate on a contractual basis, and 41.7% "actively

looking to relocate".

- The majority of respondents (32.1%) stated that if they were to get a permanent

position abroad, they would ideally relocate

for "as long as possible".

- Contractors'

most

likely

motive

Likelihood of relocation: Actively looking to relocate

41.7%

Likely

44.4%

Unlikely

8.3%

Never

5.6%

for

relocation is to gain specific skills or

experience or to increase their rate.

Most likely motive for relocation:

- With 27.3% the UK is the overall most sought after country to relocate to. - The majority of contractors (32.1%) would expect or require a 20%+ rate increase to

To gain specific skills/ experience

Increased rate

28.6%

28.6%

relocate for a contract role. Rate change expected/ required for relocation:

- 86.7% of contractors within Sales and

32.0% 25.0%

Trading would relocate for a permanent career progression (46.2%), followed by

salary and bonus 19.2%).

17.9%

17.9%

role - the most likely motive for this is

3.6%

3.6% Willing to take a reduction

No change

0-5% increase

6-10% increase

11-20% increase

20%+ increase

25


STRUCTURING & QUANTITATIVE RESEARCH AND TRADING permanent P RO F E S S I O NA LS The relocation score for permanent staff working within Structuring and Quantitative Research and Trading is 8.36 out of 10, which represents a relatively high relocation score in comparison to other sectors. When asked what the likelihood of relocation for a permanent position would be, 54.5% of respondents answered "actively looking to relocate" and 33.3% answered "likely". Unlike other sectors, respondents chose either Asia Pacific or "anywhere" as the most likely region that they would consider relocating to, rather than Europe which was chosen by most other sectors as the most popular location to relocate to. Also unlike other sectors, salary and bonus is a key motive for relocation, with both salary and bonus, and career progression each receiving 31% of votes. One Quantitative Research and Trading professional working in Asia Pacific justified this by saying, "In my field of work "Wealth Creation & Profits" are primary objectives and

appropriate incentives are critical (neither too less or too much)." With regards to the salary change expected or required to relocate, the majority of respondents (48.3%) would require a 21%+ increase to relocate. One justification for this was in light of the large risks that are involved in relocation: "You cut yourself off from your home market, your contacts and clients. You are taking a big a risk in

going overseas, as the company that hires you is doing in hiring a 'foreigner'."

Most popular region to relocate to:

APAC 24.1% Anywhere 24.1%

Salary change expected/ required for relocation:

Likelihood of relocation: Actively looking to relocate

54.5%

Likely

33.3%

Unlikely

6.1%

Never

6.1%

Most likely motive for relocation:

48.3%

Salary & Bonus 31.0%

24.1% 10.3% Willing to take a reduction

26

13.9% 3.4% No change

0-10% increase

11-20% increase

20%+ increase

Career Progression 31.0%


Structuring and Quantitative Research and Trading professionals working in permanent roles had the highest proportion of professionals that would consider relocating on a contractual basis (64.5%). However, those professionals who would relocate as a contractor would do so to gain a higher rate of pay, rather than to gain specific skills and experience, as in the majority of other sectors. In line with other sectors, the majority of respondents (41.4%) feel that 3-5 years was the ideal period of time to relocate for.

KEY FACTS

contract P RO FES S I O N ALS - 54.5% of respondents are "actively looking

- 91.7% of contractors are "actively looking

to relocate", and 33.3% "likely" to relocate.

to relocate" or are "likely" to relocate.

- When asked to choose which one country

- When asked which region they would most

they would most likely consider moving to,

likely consider relocating to on a contractual

the majority of respondents (24%) chose

basis, the majority of contractors (54.5%)

the UK.

chose Europe.

- Permanent staff working within Structuring

- The UK was the overall most sought after

and Quantitative Research and Trading

country to relocate to, with 27.3% of the vote.

chose Asia Pacific as the most likely region

that they would consider relocating to

- Contractors'

relocation is to gain specific skills or

(24,1%), joint with "anywhere".

most

likely

motive

for

experience (45.5%), followed by work- The most popular period of time to

life balance (27.3%) and a desire to

relocate for is 3-5 years (41.4%), followed

experience another culture or location

(18.2%).

by "as long as possible" (31.0%).

- 64.5% of respondents would consider

- The most popular period of time to

relocate for as a contractor is 6-10 years

relocating on a contractual basis.

(27.3%). - The most likely motive for relocation as a

contractor is to get a higher rate of pay

- Most contractors would relocate for a

(45%).

permanent role, with career progression being the most popular motive to do so (72.7%).

27


SELBY JENNINGS STRUCTURE AND COVERAGE Selby Jennings is a multi-award winning global recruitment organisation focused on servicing the Financial Services Industry. By breaking down financial markets into micro-specialisms, we power a knowledge-led model - every consultant is an expert in their field. The specialist markets that we cover are as follows.

BRYAN MARSHALL

KATHERINE IBBOTSON

Accounting & Finance

Corporate Banking, Trade Finance & Structured Finance

- ----

Fund Management (Private Equity/ Property Asset Management/ Hedge Funds) Retail/ Investment Banking Commerce and Industry Insurance

JAKE WHITE Buy Side Sales & Marketing ------

S­ ales/ Fundraising (Traditional & Alternative) ­Prime Brokerage ­Relationship Management ­Marketing & Communications ­Corporate Strategy

KATHERINE IBBOTSON Capital Markets Structuring & Origination -- Debt -- Equity -- Loans JAKE WHITE

---------

Trade Finance Commodity Finance Project Finance Export Finance Aviation & Shipping Finance Relationship Management Corporate & Transaction Banking Structured Finance & Securitisation

NATALIE BASIRATPOUR Economics & Strategy ------

Economics Macro Strategy Quantitative Strategy Investment Strategy & Asset Allocation Trading Strategy

ADRIANA SWIFT Equity Sales & Trading -- C ­ ash -- D ­ erivatives

Commodities Sales & Trading -----

­Oil ­Gas, Power & Carbon ­Iron Ore, Coal & Steel ­Base & Precious Metals

-- F­ reight, Shipping & Logistics -- Softs & Agriculture

Financial Services Sales & Marketing -----

­Sales ­Business Development ­Client Services/ Relationship Management ­Marketing Communications

MATT NICHOLSON

CLARE COOPER

Compliance

Financial Technology

-----28

JAKE WHITE

Product Compliance: Advisory & Surveillance AML, KYC, On-boarding & Quality Assurance Regulatory/Policy Analysis & Implementation Risk Governance Legal

------

Development Languages Applications Infrastructure, Networking and Security Software Testing & Quality Assurance Senior Appointments


ADRIANA SWIFT

MATT NICHOLSON

Fixed Income Sales & Trading

Quantitative Analytics & Price Testing -- Front Office Quantitative Analytics -- Model Validation / Model Calibration -- Price Testing and Valuation Control

-- C ­ redit -- I­ nterest Rates -- Treasury NATALIE BASIRATPOUR

NATALIE BASIRATPOUR

Fund Management -- Fund Management -- Passive & Direct Investing -- Investment Management -- Directional Global Macro -- Distressed Event Driven & Special Situations -- Relative Value -- Fund of Funds, Manager Selection, Due Diligence -- Performance Analysis

Quantitative Research and Trading

NATALIE BASIRATPOUR Fundamental Research (Equity/Credit) -- Buy Side Investment Analysis/ Stock Picking -- Sell Side Research (Publishing and Desk Analysis) -- Supervisory/ Editorial Analysis

------

Quantitative Portfolio Management Global Macro Portfolio Management Quantitative Research Quantitative Systematic Trading High Frequency Trading

MATT NICHOLSON Risk Management -----

Market Risk ­Credit Risk ­Operational Risk ­Regulatory Change Management

KATHERINE IBBOTSON Structuring

ADRIANA SWIFT FX Sales and Trading, and E Commerce Sales -- Foreign Exchange -- E Commerce NATALIE BASIRATPOUR Investment Banking and Private Equity ------

--------

Equity Derivatives Fixed Income FX Derivatives Commodities Structuring & Origination Fund Structuring Pension and ALM Credit

L­ everaged Buy Out ­Growth Capital ­Distressed & Mezzanine ­Secondary Markets M&A/ Advisory

CONTACT US: enquiries@selbyjennings.com 29


enquiries@selbyjennings.com www.selbyjennings.com

LONDON

SINGAPORE

NEW YORK

ZURICH

33 King William Street

Samsung Hub

245 Park Avenue

Stockerhof

8th Floor

3 Church Street, #09-02

39th Floor

Dreikoenigstrasse 31 A

London, EC4R 9AS

Singapore, 048493

New York, NY 10167

Switzerland, 8002 Zurich

T +44 207 019 4100

T +65 6589 4458

T +1 212 209 7310

T +41 44 2083 680

* In Switzerland, Selby Jennings operates as a trading style of Phaidon Capital (Schweiz) GmbH.


Relocation Motivations Report