UK top brass seeking opportunities abroad

An increasing number of senior executives in the UK are looking to relocate overseas to further their careers and escape the effects of the credit crunch

Senior executives in the UK are looking to take jobs abroad to further their careers and escape the effects of the credit crunch, a survey of more than 13,000 executives has found.

Britain has the third biggest exodus of top brass in Europe, with eight percent of senior execs seeking greener and richer pastures abroad. Only France and Germany recorded larger migrations, with 14 percent and 12 percent of their senior execs seeking a better life elsewhere, respectively.

By contrast, Switzerland recorded a 42 percent net inflow of exec talent, proving itself the most attractive nation for senior-level employees in Europe.

Torsten Muth, UK managing director at executive career website Experteer, which commissioned the survey, said execs are increasingly willing to relocate across Europe.

He said in a statement: "It is clear that the credit crunch has hit the UK hard, we have seen a significant increase in interest for overseas job placements. Talent is now far more mobile, and we see increasing numbers of footloose, highly talented individuals willing to relocate across Europe."

Across Europe, the survey found 13 percent of job seekers took up roles outside their home country, with execs from finance, professional services and the IT sector most likely to relocate.

According to the survey, the average wage for candidates relocating abroad was between €50,000 (£40,000) and €75,000 per year.

However, when it comes to the largest pay packets (more than €150,000), the UK attracted significantly higher proportions of overseas candidates than other countries, although these moves were disproportionately restricted to London.