Execs See International Post as Path to Fast Track
Two Thirds Say Overseas Assignment is an Essential Career Step in Survey Conducted by Executive Jobs Web Site TheLadders.com
NEW YORK (July 25, 2005) - Parlez vous promotion? The majority of executives in the $100K + job market are becoming increasingly aware that the path to advancement may involve outsourcing themselves. According to a survey conducted by TheLadders.com, the world's leading $100,000+ jobs Web site, 70% of executives said the prospect of an overseas assignment would be "an exciting opportunity."
While the clear majority of executives would jump at the chance to work internationally, 23% of the survey's respondents said that working overseas is not an option they'd entertain. Seven percent said they'd do it, but called it an opportunity they'd rather live without (see chart below).
In most cases it wouldn't take much coaxing to get these executives packing. When asked: What kind of incentive would you need to relocate; 40% said paid moving expenses would do the trick. Twenty one percent would look for a standard of living increase, while 21% would require a paid travel package allowing them to commute home on weekends. Only 13% of the survey's respondents expected to have their housing expenses paid in full. Five percent said they wouldn't need any incentive at all (see chart below).
Family plays the most critical role in making the final decision. When asked: What are the factors that would keep you from relocating; 54% of the survey respondents said family. This was followed by increased living expenses (22%); an unfavorable climate trade-off (12%); and regional attractions, such as big cities, oceans and mountains (9%). Concern over adapting to a new culture claimed just 3% of the vote (see chart below).
As for what parts of the world are up for grabs, the survey showed a mixed response. When asked: Where would you relocate for a great job opportunity; 32% said they'd go anywhere in the U.S. Then, clustered in the middle, 17% percent said they'd go to any G8 country outside of the U.S.; another 17% said they'd go to a different state within the same region; and 15% said they'd go absolutely anywhere in the world. Thirteen percent said they wouldn't relocate even for a great opportunity and 6% said they'd move, but would still want to stay in their home states.
"It is an absolute fact that multinational corporations groom their top talent in international posts," explained TheLadders.com President and CEO, Marc Cenedella. "But just as the offer of an overseas assignment is likely to be a vote of confidence, a refusal to take that assignment can hinder an executive's ascent through the ranks."
TheLadders.com's look at relocation is based on a series of independent surveys of registered $100k+ executives conducted on TheLadders.com Web site between July 11th, 2005 and July 22nd, 2005. The number of responses and margin of error for each survey is as follows:
- I feel that the prospect of an overseas assignment is _______. 863 Responses; Margin of Error: +/- 3.4%.
- What kind of incentive would you need to relocate? 930 Responses; Margin of Error: +/- 3.3%.
- What are the factors that would keep you from wanting to relocate? 862 Responses; Margin of Error: +/- 3.4%.
- Where would you relocate for a great job opportunity? 904 Responses; Margin of Error: +/- 3.3%.
Now reaching over 450,000 readers and featuring over 20,000 new $100k+ job listings each month, TheLadders.com is the largest online job search engine catering exclusively to the $100k+ job market. Marc Cenedella founded TheLadders.com in July 2003 after a tenure as Senior Vice President, Finance & Operations, at HotJobs.com, ultimately shepherding that company's sale to Yahoo, Inc. (NASD: YHOO) in 2002.
Charts:
