If you live in a small and/or developing country, on the path to your professional self-fulfillment you may encounter the limitations of the local labor market. You might simply not be able to find a job!
Limitations of the local labor market
1. Low salaries.
Even if you are a top-tier specialist, there may simply be no one in the local market who will pay you a decent salary. Example: teachers, scientists.
2. Oversupply of specialists.
The number of lawyers and economists that universities graduate exceeds the market’s needs by dozens of times. 90% of them cannot find a job in their specialty. Often, this is a consequence of low-quality education.
3. No demand for your profession.
You might be a brilliant scientist, but the government no longer funds fundamental research. At the employment office you are advised to retrain. It is unreasonable to do this when you have enormous experience and there are countries in the world where it is in demand.
When a world-famous physicist abandons a department chair position at home and goes to New York to wash dishes, it is a tragedy. When a world-famous physicist washes dishes at home instead of heading a department in New York, that is an even greater tragedy.
4. Limited career prospects.
You are a stockbroker and you want to grow as a narrow specialist in securities. In the future, you want to head your own investment fund. In your country, demand for specialists of this profile may be absent in principle.
5. A small labor market.
There may be only a couple of companies in the country that are interested in a specialist with your profile and qualifications. If you work for one of them, you may be forbidden to work for competitors. You simply have nowhere else to get a job.
As a result of globalization processes, as well as the development and declining cost of telecommunications technologies, a global labor market has emerged. It consists of companies that want (and can) hire workers abroad, and workers who want (and can) get a job at a foreign company.
Advantages of the global labor market
Salaries are lower than in developed countries, but higher than in developing ones.
If you are a specialist in demand on the global labor market, the difference in income between the local and global markets can reach 5–10 times. At the same time, you spend the money you earn in your own country, thereby developing its economy.
Experience. More advanced business processes.
The main things a job gives you are experience, money, and connections. You can gain extremely valuable experience if you work for leading global companies. They welcome globalization trends, so it may be easier than it seems. As an employee, you will be able to see all internal business processes—effective and not so effective. You just need to keep your eyes and ears open.
Great growth prospects.
Working at a large international company will help you both grow professionally and build a career. You can make useful connections all over the world, which is very helpful: prove yourself as an excellent specialist and, perhaps, several international companies will offer you the chance to continue your career with them. A talented person needs only an opportunity; they will figure out how to use it.
Business trips.
You will often be offered opportunities to travel abroad on business. This is especially true if the company has several international branches. Do not neglect this: it is a good opportunity not only to travel but also to gain new knowledge and skills, and to talk with people. Remember that a single point of view has never yet produced a high-quality, comprehensive picture.
The opportunity to move to a country you like.
Very often, after proving yourself as an excellent specialist, you can receive an invitation to relocate/work at the client’s office. This is very convenient. You have most likely already been there on business trips and have an idea of where you are going. You have friends and acquaintances there. You will immediately get a good job and a team that knows you. These are almost the best immigration conditions one could hope for.
Requirements of the global labor market
Your profession must be suitable for it
Not all professions can be transferred to the global market. But many can. The list is constantly expanding. You could list them endlessly: phone support, development, research, design—almost everything related to the internet and/or computers. If your profession emerged only 20–30 years ago, there is a very high chance that it can be globalized easily.
Price and quality
When a foreign company sees that it can hire, in your country, a higher-level specialist for less money than at home, it is often hard for it to resist. You must be either “better and cheaper” or “much cheaper.” Simply “cheaper” will not satisfy it, because the company takes on additional risks when hiring specialists remotely.
English
For many years now, English has been an international language. If you want to work in the global labor market and enjoy all its advantages, but English is not your native language, learn the international language. The worse your English is, the stronger your other two advantages must be.