hubbard

I just thought I would post a thread asking what people's opinions are whether it is now a good time to move to Oz, in view of the global credit crisis.

My opinion, for what is worth, is it's a bad time to move if you are already in a secure job in your home country, and in particular work in a 'white collar' industry (finance, accounting, telecommunications, IT). I work in Sydney in finance and the redundancies are coming. MacQuarie Bank has started letting people go as have CitiGroup. So as a newbie to Aus, with no 'Aus work experience' you are going to be up against fierce competition for jobs.

I would strongly advise people to sit tight for the next 6 - 12 months and see how things pan out. Now is not a good time to migrate to Australia in terms of the employment market.

Any other opinions?

quoll

I quite agree. If I had a job and a home and was secure (as secure as anyone at this time!) then I wouldnt be moving anywhere in the world especially not if I had a family to raise. Personally I think it is madness but each to their own. There will be better times to have adventures in the future but I really dont think this is one of them.

To add to your list of people who will be looking for jobs - the man from Hays the other day on the radio said that there was a surge of retirees also getting back into the market because they could no longer make ends meet on their super!

xzibit

I've got a good stable (as stable as it can be at this time) job, although, I don't have a house being a young'un, I'm still going over.

Although I only have myself to worry about, no family, and my boss in the UK is keeping my job open for 4 months for me, just incase I return.

Maybe I'm mad!?

carolinephillips

On the other hand...the rats leave the ship before it sinks completely! Having just made the move 3 months ago, I think we got out just in time...and yes my OH does work in finance. It depends if you have highly desirable skills. The firm have let 3 people go, but no-one else can do his job so they can't get rid of him!
I feel so sorry for those whose future now looks bleak, or who have had to pull out of the dream of life in Oz. You could lose your jobs in the UK too, and I know I'd rather be here where the weather is normally better and the life so much better for kids.

bigAPE

I think it depends on your life outside of work.

No job is guaranteed or "safe" these days and anyone who feels safe is just sticking their head in the sand. Sadly office workers (like me) often feel insulated from these kind of financial troubles but if anything the collapse of some of the major banks and shedding of jobs in other organisations (Google dropping 10,000 staff over the next 6 months) should be a wake up call.

I would look at it as follows, if you feel that without your job you would be happier in the UK than your chosen location in Australia then there is still merit to moving.

However, as I have said many times, people often move for the wrong reasons and/or without researching it properly. Arriving with irrational or just plain silly expectations will lead to misery and most likely a return flight within a year. Visit the area you want to move to. Speak to people in the same line of work, visit the schools, check out the social scene. Research, research, research and then don't try to recreate what you had in the UK. You have just travelled to the other side of the world to a different country, it will not be the same as the UK, so adapt and integrate. Aussies like people who try and "have a go", so fitting in is really appreciated and respected here. If you try to blend in you will.

Kooky.

Well they've got to pay for that lavish Christmas party somehow.


Nobody is indispensable.


I'm a cautious type (what can I say - once an Accountant...) so if I had a relatively stable job with a house and a family, I would probably stay put and see what happens in the next year. Better the devil you know, and if you have family around you you're not likely to go hungry.

We don't feel very stable at the moment, but then we never do as my husband is not in a stable industry. We were already out of the UK so we've just changed locations, not circumstances, and have no property or kids to worry about should it all go belly up.

carolinephillips

He took voluntary redundancy once, and they asked him to come back 6 months later. They created this job for him over here when he told them he was leaving to go to Australia, as they still needed someone to support the asia-pacific region. Fairly indispensible I'd say if they go to such lengths to keep him.

Dougie

Like OP said i,m afraid Nobody is indispensable we are all just a number at the end of the day unless you have been fortunate enough to reach the top of the tree.

Dougie

Kooky.

I sincerely hope you're right; it's just not in my nature to be complacent. I've been retrenched twice.

lastere

hell yeah, it's worth it! not only that, but dragging 2/3/4 kids in the tow, and the "hubby" who has only basic employment skills, and dropping half a mil for a sticks'n'stones in that sorry excuse of an economy. cause it's real value.

...and that's life in the big city.

alandnic

I have plans in place to move to oz with my wife and two kids next June but both my wife and I have secure jobs working for a pharmaceutical company. It's become a real worry...

harrip

There is no yes or no answer to whether it is right or wrong to wrong to move to Oz (or anywhere else for that matter) it will depend on your own individual circumstances.

If your in a safe job in Finance in the UK now, I note the initial poster suggests staying in your job. That may be true but it also presents unique opportunities. If you can secure a good redundancy package and leave for new shores with a good nest egg - now may be a better time than ever to realise the dream.

Also, don't forget some folks are in jobs that are in demand regardless of how the economy is doing so deciding to up sticks and move is not always a move dictated by the general economy.

As for some folk being indispensable, death always tends to level the playing field...

Nix and Mike

I think the move to Aus is a LIFE move and not a FINANCIAL one. For us, we know that it will be tough, but once the decision is made, we want to action it. My OH is older than I am by 16 years and doesn't have the luxury of waiting a couple of years to "start again"....the sooner the better. And as has been pointed out, times are tough all over the world, might as well be tough in your new environment....where you are moving forward and getting closer to the time you will settle.
Just my 2c worth.....

cricket1again

I'm with Quoll. I'd postpone a planned move until everything has settled down a bit. It can't ever go back to how it was, governments will make sure all banking institutions are regulated so the days of cheap money are gone. This is a good thing but it does impact on other things such as trying to get a good credit rating in a new country. You can't, not for a while anyway plus if banks won't lend, it can get very tricky cashflow wise.
If you're OK where you are, stay there for now and revise the situation in a few months time. Australia is going to be here for a long time and if you've got good skills and money, they want you on board.

hubbard

But it will be a hell of a lot tougher in a new country with no family or close friends, zero local work experience or contacts, a lack of knowledge of the social benefits available or entitled to, big initial set up costs at a time you should be saving. Australian is not going anywhere, think carefully as to whether you can afford the financial risk that migrating now would be. Money isn't everything but it will greatly assist your move and happiness in a new country.