Worth moving out of the US to Germany as a domestic Wharton/SEAS (M&T) Undergrad student?
Going into my senior year at M&T at Penn and want to leave the US and settle in Germany permanently after I get a masters. I'm looking to work in finance or engineering sectors after graduation, but I realize that by leaving the US, my future salary will receive a large cut. Other than that, is the move worth it? From my experiences there, I know I would much rather live in Europe than in the US, but I'm not sure if getting a job will be feasible. I'm not sure how my ivy degree with be valued outside of the US, especially considering how top US firms are such prestige whores, but in Germany (and Europe in general) does where you go to school matter much to employers, or can I expect to work at an average-above average place? What does the salary progression look like for, say, someone working in IB/PE? And how much can I expect to make yearly when I first start? I think my resume is in good shape to work at a top company in the US, and my German is fine too (like B2 level).
Also am I delusional about how much better life in Europe would be than, say, NYC? I feel like the American lifestyle is too over the top and overpriced, whereas living in German just feels more relaxed. Thoughts? Thanks a bunch
Based on the most helpful WSO content, here are some insights regarding your situation:
Moving to Germany from the US for Finance/Engineering Careers
Education and Job Market:
Salary and Cost of Living:
Lifestyle Considerations:
Personal Preferences:
Conclusion:
Moving to Germany could be a worthwhile decision if you value a more relaxed lifestyle and are prepared for potentially lower salaries compared to the US. Your strong educational background and B2 level German proficiency will be advantageous. However, ensure you are ready for the cultural and professional adjustments that come with such a move.
For more detailed discussions and personal experiences, you might want to explore threads on WSO related to living and working in Germany versus the US.
Sources: Germany Sucks, Life in General Will Cost More Than You Think, Life in General Will Cost More Than You Think, NEW YORK is OVERRATED, NEW YORK is OVERRATED
have you ever been to germany? why do you want to specifically go there, Would London/U.K. not be a better option?
Yeah, I think I would really enjoy life there more, especially since I have more family and friends there. It's a better place for me to settle down. Even if I make half as much as I would make in NYC mid career, I would still be okay since everything there is so cheap. My only worry is that I'll struggle to even get a job because I'm not a German citizen/am applying internationally. Not sure about what the requirements are like in Europe.
Why Germany? Why not Switzerland, the UK or elsewhere?
Do you know much about the German culture, work environment or do you have many friends or a spouse from that region?
High profile colleges are recognized in Germany and the wider EU region, but unless you are fluent in German it would be really useful to find a mostly English speaking team within the banks.
You should do a recce trip and visit a few European countries, do a road trip and see what you like/don't like.
There are many US Americans in Europe and they love it. I meet them through hobbies, work or religious events.
Also, many US companies are present all over Europe and they would love a candidate like you. I am sure you will find something, it's not as difficult as it might seem. There is a strong US expat network across many locations also.
You mentioned engineering / Tesla are usually in need of capable people in Germany.
Thanks. I know a bit about German culture, but yup family and friends in that region. I don't think I would leave the US if it weren't for being closer to family and having a better environment to settle down. What are requirements/standards for German companies like other than having a master's and being able to speak German? Also how is the salary progression for finance and engineering in Germany?
My wife travels to, occasionally lives in and has commercial partnerships in Germany. We have been countless times and she has some distant German relative living near Munich. Her ancestors who migrated to the US back then were from parts of Germany. She is somewhat fluent in German, C1 and above and is confident to lead a business meeting. That was enough to land the role without living there.
German culture is quite different from US culture and I think you could google this, or look through social media, youtube, (..) to learn more about it.
My old job was for a German employer in the US, but not since we moved to NYC.
Germany is usually in need of professionals, it just depends on your level of skill and their demands. The more fluent you are in German, the better. Some teams i.e. in Frankfurt would be purely English speaking. But that depends on the team, industry, type of job, ..
good German websites to learn more:
lohnspiegel.de
thelocal.de
destatis.de
and more online.
I know US Americans at Tesla in Berlin/the new Gigafactory and they are very happy there.
Very similar background. PM me and we can set up a call
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