How easy is it jumping from UK to US office (IBD)?
Hey all,
I’ve heard that it can be difficult to transfer from London to a US office (especially NYC) unless you are top bucket. Can anyone attest to this? Could I count on being relocated within two years with most international banks?
- there is a minimum amount of work you'd have to do normally before asking for a transfer
- ideally your own group would have a team in NYC, if not you'd have to see with HR which team takes you on
- company normally takes care of all visa fees, legal fees, filing fees, etc
- normally, there are 3 scenarios: 1) you quit and sign a new contract in the US 2) your US work contract is a new contract while the UK employment contracts becomes "dormant" until you come back to the UK 3) you are on a secondment on the existing contract with additional terms under a new agreement 4) any other possibility I couldn't see in our own firm, I am sure there are other ways of handling this
- the legal fine print in these scenarios is very important, so please do extensive research before committing to anything or signing papers (tax, pensions, insurances, notice periods, deadlines, etc)
I would argue that most larger banks will have some form of international program for these situations.
There is no other way than keeping close to HR people on this one, look for the team that enables "internal mobility" solutions. In many cases these are experienced human resources staff who have successfully moved hundreds of families across borders and who know exactly where the tricky bits are.
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