Studies show millennials — the largest living generation — have a growing interest in moving abroad and many are seeking jobs outside of the United States. With a desire for new experiences, motivated by the need for employment, many 20- and 30-somethings are packing up and moving overseas.
“Interestingly, four of the top five countries that people are migrating to also appear in the list of top five countries that people are leaving, which seems to indicate that although job prospects in these nations are a factor people consider when deciding where to migrate to, more and more Gen Y’ers are seeking out a new adventure and are leveraging their careers as the means to live out their dreams,” wrote Forbes contributor Ashley Stahl. These top five countries include Australia, France, and the USA, among others.
In 2013, the United States saw a record number of expatriations, or residents renouncing their citizenship. Many factors could have contributed to the growing trend; when it comes to millennials, many have shown more interest in the quality of their work life than their annual income. A recent Fidelity report found “millennials would take an average pay cut of $7,600 if they could improve their career development, find more purposeful work, better work-life balance, or a better company culture.”
The risks involved with moving abroad may prove worthwhile if that change in scenery provides what many young professionals are looking for: a fresh new culture, an occupation that provides value, and an entirely new experience. American corporations, take note.
