Are you looking for a job abroad? Have you wanted to move overseas for a long time? Even if you’re tempted to explore the grass on the other side of the fence, think twice before seeking work opportunities abroad. India registered a rapid growth of 9. 7 per cent last year and has bounced back strongly post recession. Apart from jobs in various sectors, it has led to emerging opportunities for entrepreneurs. At the same time, the rest of the world is still facing economic lows. Is it then the right time to move abroad for a job?
With recessionary fears looming over numerous economies, many experts believe it is not. How do prospects in India compare as against those abroad? Ravi Ramakrishnan, director, TMI Network, gives an overview, “European opportunities are completely wiped out post recession, with most countries erecting strong barriers to entry for overseas talent. With nil growth or negative growth in most economies, a number of which are also close to collapse, who would opt to go there? Except for MNCs which transfer Indian managers or staff overseas, there are not too many viable opportunities in Europe.
If you consider the US, earlier on, jobs were largely available in manufacturing, which is in the doldrums now. Even the middle-east is not as interesting any more as it was earlier. The social and political turmoil has made it less attractive. ” Based on an overall comparison of jobs abroad with those in India, which one is better, given the timing and the current global job market? T Sreedhar, MD, TMI Network, says, “With GDP growing at over 8 per cent, India has a big enough domestic market that is somewhat decoupled from the world and can handle global slowdowns.
The best option for Indian professionals aspiring for global exposure is to work with an Indian company that has international operations or to work for an MNC which periodically moves employees overseas. ” Then there are those who see a balanced global equation. “It’s all about seeking an opportunity; if there is an opportunity that fulfils all the parameters that you have carved for yourself than going to the west would make sense. Recession did impact the job market; if you look at the 2008-09 phase, there were huge lay-offs and salary cuts.
Recruitments were frozen. In fact, with some of Obama’s protectionism-driven policies, India and other parts of the world did face the heat. At the same time, employment opportunities in certain sectors were not affected as much. For instance, if finance jobs were scarce, risk management jobs were suddenly in abundance. Doctors with requisite qualifications were also in demand and continue to be so,” says Gaurav Mendiratta, founder director, AKG Technologies who studied and worked in the US before moving back to India to start his own company.
The decision to look for a job abroad depends a lot on the person’s own preferences. Debasis Chatterji, CEO, Netxcell Limited says, “If an opportunity provides global exposure along with a good pay package, it could be a wise decision to take up the offer. But if the candidate has good prospects, scope to innovate and to learn in his/her current job, it would be more appropriate to continue. Some specific project or assignment abroad could be attractive due to such reasons. It all depends on the objective of the candidate. Taking the macroeconomic environment into account, one can safely say that the trends point towards a large wave of reverse brain drain, likely to become more pronounced in the future. Rahul Kulkarni, head, HR, Kale Consultants, says, “It is not an appropriate step to explore jobs abroad when you are in a country like India, which is recording 8. 5 per cent GDP growth. Companies overseas are targeting emerging nations; it proves that in the near future there will be continuing growth of opportunities. The reverse brain drain trend has already started.
The glamour attached to the trend of going abroad for jobs is declining, which is why there is no point in going abroad. Stay back in your country and add to it by your flair of talent. In the coming years, India would be more efficient in providing updated infrastructure and advanced platforms to nurture talent . It would influence skilled professionals to come back. ” And while every coin has two sides, you can always bet for either head or tail. For an Indian professional, almost all fingers point homeward.
