Careers in science, technology, engineering, and maths (STEM) can be a personally rewarding and lucrative career path. With many countries looking to hire highly skilled workers, people in these disciplines have a great chance to explore different opportunities overseas. This article will examine the benefits of STEM careers and the prospects of working abroad.
Why should expats do STEM jobs?
Financial benefits
- Higher pay
STEM jobs provide great financial benefits. Workers in these fields often are highly qualified and have a niche set of skills which makes them valuable to employers and means they are compensated extremely well. For example, the US Bureau of Labour Statistics showed that STEM workers in associate positions could earn salaries between $150-180k annually.
- More incentives
Workers in STEM jobs also have the chance to receive better overall compensation packages. For example, jobs in the technology sector that are heavily KPI-focused allow for employees to earn huge bonuses and receive large commission structures if targets are exceeded.
Career flexibility
- Choose your work
STEM jobs require highly technical skills and mean that workers can transfer their skills across a range of industries. This means that they aren't limited to working for one company and can easily take on freelance work and work remotely.
- Explore new opportunities
STEM careers give workers the chance to move between jobs and even explore new openings in new industries altogether. Due to the rapid emphasis on innovation, workers in STEM can use their skills to move into fields that may not even have existed when they started.
Develop skillset
- Boost creativity
STEM careers give workers a chance to continually improve their technical skills and overall creative ability. These fields allow workers to improve their entrepreneurial skills by continuously innovating and thinking about big picture questions.
- Increase critical thinking
STEM fields naturally have a large problem-solving component. Jobs that require workers to use mathematics or scientific analysis give workers a chance to constantly expose themselves to challenges that can improve their critical thinking.
What are STEM career prospects abroad?
Finance & Banking
Finance is a great industry for STEM workers. Having strong numerical skills is a huge plus for workers wanting to move into a multinational bank or hedge fund – using their skills to build algorithms to identify profitable foreign exchange opportunities in the market.
Consulting
Consulting is a broad field that has many opportunities. Many large multinationals are on the hunt for talented STEM workers who can use their technical skills to streamline operations, such as cutting costs throughout the global supply chain.
Social Media & Marketing
Virtually all businesses have an online presence, meaning marketing themselves has become extremely important. STEM workers can add massive value to businesses by quantifying large data sets to increase online traffic and boost sales.
Cybersecurity
The Cybersecurity space is rapidly growing as companies put measures in place to protect their data. STEM workers have great opportunities as they can use their problem-solving skills to build programs to stop companies from being hacked and help them protect sensitive information.
Which are the best countries for STEM workers?
United States
The tech industry has always been a large part of the US economy and has plenty of opportunities for STEM workers. Wall Street and Silicon Valley are examples of places that are constantly on the lookout for top talent in fields like technology and engineering.
Japan
Japan has made a large effort to modernize its economy by improving areas of innovation and entrepreneurship. Workers with skills in technology or mathematics are prime candidates for top jobs in Japan and can easily slide into high-paying roles.
Australia
Australia has made it known that it is looking to recruit skilled workers to fill the demand for highly specialized jobs. Workers in STEM have a great chance to explore new opportunities and move into lucrative positions in fields such as finance and consulting.
Germany
The German manufacturing sector took a beating during the pandemic. With travel back on the cards, many businesses are resuming international trade. Germany is looking for STEM workers to use their skills to boost exports and add value across the supply chain.
In conclusion, STEM careers provide a wide range of opportunities for people wanting to work abroad. With many countries actively looking for highly skilled workers, people in STEM should consider finding a role overseas.
