Over the summer, I heard a senior person suggest that finance jobs were paying relatively better in emerging markets like Brazil than in established economies like the US. Has anyone considered moving to a foreign country to work in the financial industry there? What do you think are the pros and cons, and what are the pay ranges like?
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I read that BB firms were doling out premium pay to more senior bankers who were willing to set up practices in Russia (source: The Economist ~Late 2006). Colleagues reported similar things about LatAm (in agreement with your comments about Brazil). A US-educated, BB IB analyst friend of mine was in the process of transferring to our India office and allegedly the cost-of-living-adjusted pay was pretty comparable to the New York pay, so I don't think that the emerging markets switch is going to benefit junior bankers strictly from a compensation perspective.
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