Author: Elda Hamaker

I have heard more than my fair share about globalization since I was in Business school. They even devote an entire course to it. The reason being, just about every major company in the world has adopted the benefits of globalization and the economics of scale it affords. While it might make sense to place a headquarters of your company near the headquarters of your larger customers, it might not make sense to place your manufacturing or research and development offices there. We often see these types of operations being placed in lower cost countries simply to stay competitive. This is precisely why we are seeing an ever increasing number of expatriates moving abroad. “Expats”, are they are often dubbed, leave their home country to work for their employer in another country. Generally, the people who get these types of gigs are up and coming employees and marked for the fast track. Regardless of their technical prowess and business acumen, life can be difficult for them in that first year abroad. Money Seems like a generic issue but it’s truly all encompassing. First, you need to negotiate a higher cost of living adjustment. Next, you need to figure out where you’re going to bank. If you move to the UK or Europe you can’t simply hold on to your bank account from the USA or Australia and think that...