February 4th, 2007, 1:31 pm
The whole expat thing has changed a lot, driven by several factors.When I worked as an expat, I expected (and got) more than either the locals or what I would have got in England. Living in Sydney was not exactly hardship, but there's extra effort and dislocation.You'd have to take my kids hostage before I'd even consider working in Saudi Arabia. But that's me, some people genuinely like it.I happened to know stuff that no one in Oz knew, and the money relfected that. Was nothing to do with my ethnic origin. There is still a profound skills gradient between developed nations in Western Europe and N.Ameriaca and other places where a randomly chosen doer of things is genuinely worth more than an average local.But my information is that multi nationals have gone off the whole idea of Value (white bloke from white country ) > Value (everyone else)So much so that I talk to people who are getting really crap deals to do a stint in some foreign location. Obviously being a pimp, my observations are skewed, but the majority seem actually to lose money on the deal once you've taken into account tax, acommodation and lies about "of course we'll remember you come bonus time". That last one is going on my list of biggest lies told to quants.Banks are increasingly taking the view that people are a globally traded commodity, and are often taking a hard line saying sometimes quite explictly, "if you don't take it, we'll give the work to a local", and offering "local" money.In the case of quants, the fact is that although quant people are every nationality, quant work is what happens in London & NY. A person who has worked in Frankfurt has to try harder to seem as good as an identically smart Londoner, let alone someone based out of Singapore or Bangalore.