February 16, 2017 - Comments Off on US GAAP: Why More Americans Want To Move To Europe Than Ever Before
Today, millions of American citizens soar above the Atlantic Ocean for holidays, business trips and, in many cases, a new life. Over the past five years, we have seen a significant increase in the number of American professionals applying for opportunities in Europe. At the same time, the skillsets found in the US have become sought after by many of our clients – a win-win situation.
US GAAP is a perfect example of one such skillset. In the era of globalisation, the need for US GAAP expertise is no longer confined to North America, but also in the capital cities across Europe. In recent months, senior consultants at Milburn Lewis have been inundated with US GAAP roles from our clients. The opportunities are out there but what are the benefits of making such a monumental career move?
US GAAP in Europe, and what it can offer
By its nature, US GAAP is ubiquitous in the US. The term refers to the generally accepted accounting principles adopted by the US Securities and Exchange Commission (SEC), meaning that every US-registered business must adhere to its standard when filing with the SEC.
As a result, there are millions of US GAAP professionals, all competing for the best roles, top locations and most sought after promotions. Speaking to US-based candidates, we have found that this has fostered an ultra-cut throat culture, one that makes it extremely difficult to progress ones’ career.
With more and more US companies moving into European markets, the need for US GAAP experience has never been greater. Unsurprisingly, however, there continues to be a shortage talent with the right level of US GAAP exposure. Our clients frequently state, unequivocally, that their preference is for professionals who have US-based experienced, which means sourcing directly from the US market.
When chatting to US GAAP professionals, our consultants are often asked, ‘What can I get in Europe, that I can’t get in the US?
We believe the fundamental benefit of making a European move is that your skillset and experience instantly become more marketable. Instead of being one of millions with US GAAP expertise, you are now one of hundreds. No longer are the top firms and top roles out of your grasp. We have also found that US GAAP professionals find opportunities for promotion much more forthcoming.
Professionals we’ve placed have found that Big 4 firms offer strong salaries and benefits, as well as access to similar multi-national clients they would find back home. Of course, don’t be under the illusion that European Big 4 firms offer a utopian working environment – it still requires commitment and hard work, but we believe that the rewards outweigh the challenges.
On a more personal level, making an international career move will expose you to the diverse cultures found throughout Europe. From Westminster Palace in England, to The Lourve in Paris, Europe has a rich and profound history, which has captivated millions of people from around the world. No matter what your interests are – art, music, sport, literature or architecture – there are a myriad of things to do, and places to visit. You will be exposed to different cultures each and every day, benefiting not only your career but you as a person.
Milburn Lewis is in the business of international recruitment. We have strong relationships with Big 4 firms globally. And when we ask our clients what they look for in their next hire, often the response is: international experience.
In a world that is becoming more global in nature, gaining exposure to different countries and cultures is a significant part of a resume. For US GAAP professionals, European Big 4 firms offer not only international experience but also a chance for real career progression.
If you are interested in exploring US GAAP opportunities in Europe, please don’t hesitate to reach us at firstname.lastname@example.org.