Legend wrote:
Audio wrote:
I would be potentially interested in working in London after my MBA. How does it concretely work? How do you get recruited for the European (or Asian) offices when studying in the US? Are the people present at the campus recruiting for the entire company globally? Or do you have to look for a traineeship / FT job yourself?
Any insights there?
Thanks for the input and sorry if I missed this in another topic!
An MBA from a top 20 school (there is actually a list of about 50 schools) enables you to work in the UK for a year through the Highly Skilled Migrant Worker (HSMP) program. HSMP is now called something else now but it's pretty much the same thing. You need to go to the Home Office web-site and download and submit the relevant forms. As proof of evidence, you need to submit your degree certificate and an offical copy of your transcripts. It will cost you £750. This would allow you to work in the UK. After a year you can reapply for an HSMP under the points based system.
If you're looking to work for a managment consultancy or an IB job, I'm sure you won't have any trouble landing one. Most of the time the company will gladly sponsor your work-permit. If it's a smaller company you want to join, then the HSMP route may be the best way to go about that.
I just want to add a little warning for most people who want to work in the UK or in Europe in general. Taxes are INCREDIBLY high out here. (VAT is 17.5% and everything is about 25% more than it is in the US). Also this continent is a lot more socialist than most people think and after living here you may realize that this isn't what you had signed up for. Prices in London are byond compare (unless you're from Oslo or something) and you need to earn a lot more to live the same lifestyle you would in the US. Salaries in London are high but not high enough to make up for the difference in cost.
Also, US Citizens have to pay tax on their GLOBAL income. So after paying 40% tax on all income over £35,000, you may still owe money to the US government. You may want to check up on that as well. There may be double taxation treaties between the two countries but I don't know enough about this.
Haha I loved your socialism bashing!
It's true though; I don't want to get into a political debate, but Europe is definitively more left wing than the US - Democrats would be considered here as a strong right wing party. As for taxes, I live in Belgium, one of the most taxed countries in the world (I lose almost 50% of my monthly salary in taxes, bonuses are taxed at more than 60%), so the UK is like a fiscal paradise for me!
Prices are ridiculously high in London (about 25% higher than in NY if you look at the World Bank study I uploaded in another topic), but with an IB salary it should be ok. Actually, are the salaries the same in NY as in London? Or are the London salaries higher in order to compensate for the difference in cost of living?