QUOTE(manickam123 @ May 26 2014, 05:45 PM)
Oddly enough, most the accounting jobs have been outsourced back to malaysia.
Hence the booming shared services sector in malaysia.
I heard in BP, there are absolutely zero accounts personnel in their profit centers, all finance staffs are based in regional shared services in Americas, Asia Pacific, EMEA and Western Europe.
For 40-50k, I would rather be a petrol station manager in Melb, because thats what they are earning right now.
But I got few friends still managed to get accounting jobs at SME. One of them work as a one-man HR, accounts guy using the MYOB software.
Which is true. Most accounting for BHP and Rio are done in Singapore. The only thing Australia provides is the core skilled workforce since for reasons of standardization and knowledge. For example; regardless of where there are in the world, if possible they follow AS3000 and AS3008. After all if they could, they'd spend less on expensive labour.
Most major IT companies like IBM, MS and so on have all their accounts, call centres, support and HR all based in Malaysia anyways.
QUOTE(LightningFist @ May 26 2014, 05:50 PM)
Ok, it's not a very well written article - I know all you did was share the article but I'm sharing my opinion. But to the point, he is talking about growth potential and opportunities in Malaysia. Developed market vs mature market. This is not a realisation of wealth. More like the lost dreams of someone who has failed to make it in Australia - I don't know his background so I don't know if he has made it wherever, but that's what the article seems to say.
Say what you want about emerging or developing markets, many of them have not lived up to expectations. Malaysia has certainly not reached its potential (and it won't, if it continues like this). Russia, Brazil, South Africa have not either.
If Malaysia could realise its full potential, it might be a more exciting place. But that remains to be seen. What I can say at the present is Australia is more attractive, and if you build something here long-term, it could work out really well. Imagine you work the same boring job, in Malaysia or Australia. The pay in Australia after tax and core expenses might even exceed the gross pay in Malaysia, after conversion (not including mortgages, but I've said before city property in Malaysia is expensive too).
Regarding welfare in Australia, systems around the world are far from perfect, but Australia's is pretty damn generous. If anything, it's too generous, and highly at risk of being underfunded. Something the lay person seems to fail to understand. It's too much of a disincentive to work for those low or average income workers, especially if they have some excuse. A disability or mental health issue is unfortunate, but if you can work you should. The safety net is for legitimately disabled or unfortunate people.
Not sure what oppressive tax system means. If he means taxes are high, well most Western, matured economies are high tax, and pro welfare. But incomes are also high and it's important to realise net income may well be far higher, so it's not so important that Malaysia has what's seen as a lower tax rate. Yes, you pay a larger % of your income as tax, but what comes out of that (public spending) should also be considered, and you would take home more anyway.
My general 2 cents are simple in regards to the Australian economy. If you aren't in a sector which produces a sizeable chunk of GDP/per capita workforce or has the potential to expand that metric then it's a bit of a toss. Go somewhere else.
My personal picks are;
- Offshore oil (Land based gas will go out of style once current main phase is over in 5 to 10 years)
- Unconventional Oil and Gas
- Mining (Panning out but wages are still high)
- High Tech Materials and Chemicals (Production)
- Defence (High Tech, Airborne and Marine)
I mean if I wanted a shitty wage and little to no advancement I'd save the money spent to move here.