Money
Issue No. 1 - July/August 2001
brain drain
by Tony Catt
Over the past five years I have got used to the fact that the only way to catch up with a lot of my friends is now via e-mail. Many are now working overseas in various professions and some have even decided to base themselves there permanently.
This phenomenon is only going to get worse. Young professionals are leaving South Australia to tackle the world at an ever increasing rate. The lure of the mighty Sterling and the prospect of travelling the world is very compelling but is this the answer that many young professionals are looking for?
Many are simply leaving because of the lack of opportunities here in South Australia and their disenchantment with their current employer. A major complaint is the lack of responsibility conferred upon these professionals, where many feel they could make much larger contributions to the business.
Many associates of mine are heading to London working in multinational firms such as Salomon Smith Barney, Barclays Bank and the pharmaceutical giant Glaxo Welcome. Many are completing their Professional Year (PY) with the ICAA and are gaining contract employment quite easily in London. International firms view these individuals as well educated and hardworking. They are allowed flexible working arrangements, which suits individuals wishing to travel and attend major events.
This financial talent is being exposed to the latest ideas, products and technology in the corporate departments of leading world organisations. ...
