British-based finance executives prefer homegrown opportunities

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Research from leading recruitment specialist Robert Half, reveals almost two-thirds (63%) of British-based CFOs would not relocate abroad, even when offered the right career opportunity and remuneration package. Of those surveyed, only 16% have relocated abroad during their career. 

For those CFOs who would consider relocating abroad, the primary driver would be career progression (36%) or a higher salary (30%). A better quality of life would attract 27% of CFOs to relocate abroad, while 15% would move abroad to provide a better environment to raise their children, the survey found.

Despite the furore over bonuses and taxation, just 14% of CFOs would cite a higher bonus as a key driver to relocate and just 13% would move to a domicile with a more favourable tax regime.

Phil Sheridan, managing director, Robert Half UK, said: “The research is a clear indication Britain is still an extremely attractive environment to live and work. Given the uncertainty in the financial markets and high property prices, nearly two-thirds of those surveyed would not relocate abroad, even when offered their dream package. It is extremely encouraging to see that CFOs view Britain as a safe haven both in terms of lifestyle choice and employment opportunities.”  

The top financial cities that would attract those CFOs prepared to relocate include New York and Sydney. CFOs considering relocation are attracted primarily to long haul destinations, where the weather and global financial standing play an important part in their decision, researchers found.

Top cities for relocation, as identified by the City of London Corporation, are :

  1. New York
  2. Sydney
  3. Hong Kong 
  4. Chicago
  5. Singapore
  6. Geneva
  7. Toronto
  8. Zurich