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Cayman/Bermuda move

  • 18-03-2014 11:43am
    #1
    DonnaDarko09
    Registered Users Posts: 366 ✭✭


    Hi,

    Just wondering if anyone could give any insight into what life is like in Cayman or Bermuda for a newly qualified? I am thinking about making the move with my existing employer and both places have been highlighted as an option should I wish to move. Can anyone advise which is best? I have trained in FS audit (Big 4) but have been offered roles in both Funds and insurance audit. Ideally I would like to make a move out of audit in the next few years. Would a role in Bermuda or Cayman open up other doors or would I be locking myself into audit positions even more so?

    Any advise appreciated.

    Thanks,
    Donna


Comments

  • #2
    Irishguy88
    Registered Users Posts: 1 ✭Irishguy88


    DonnaDarko09 wrote: »
    Hi,

    Just wondering if anyone could give any insight into what life is like in Cayman or Bermuda for a newly qualified? I am thinking about making the move with my existing employer and both places have been highlighted as an option should I wish to move. Can anyone advise which is best? I have trained in FS audit (Big 4) but have been offered roles in both Funds and insurance audit. Ideally I would like to make a move out of audit in the next few years. Would a role in Bermuda or Cayman open up other doors or would I be locking myself into audit positions even more so?

    Any advise appreciated.

    Thanks,
    Donna

    I've been wording in Bermuda for about a year now after finishing my training contract. I'd recommend Cayman if you're trying to work in Funds and Bermuda for Insurance, either way it will be a 2 year contract. It's also worth keeping in mind that some of the firms over here do have a reputation for working much long hours than others so you don't need to limit yourself to an internal transfer.

    PM if you want any advice on the move out.


  • #3
    Colts
    Registered Users Posts: 149 ✭✭Colts


    Just seen this.

    I'm working in industry in Cayman, and really enjoy it, I wouldn't limit yourself to an internal transfer either, within the audit firms your busy seasons will be exactly that, but then quiet season during the summer will allow you to get plenty of downtime.

    The lifestyle here is great, an I'd have no hesitation in recommending people to give it a go out here.

    Let me know if you have any questions by PM and I'll be more than happy to assist.


  • #4
    Maka18
    Registered Users Posts: 4 ✭Maka18


    Hi All,
    I am currently working in Ireland as a Fund Accountant and was thinking that maybe a year down the line of making a move offshore to grand Cayman.

    I have just started my CIMA exams, would I need the professional qualification finished before I go or would it be possible to get a job in the funds sector without it? It will take me about 2 years to finish in full.
    Also not only me would be going my girlfriend is 7 months gone, so it would be a family move.

    Can anyone give me an indication of the salary I could hope to be on for a fund accountant with 2.5 years experience, the cost of living and island life in general.
    Any bit of insight would be very much appreciated.

    Thanks


  • #5
    Colts
    Registered Users Posts: 149 ✭✭Colts


    Hi Maka
    In all likelyhood you would have to have a professional qualification to come out here, as Caymanians have first preference with all positions and are likely to get all positions of an unqualified nature.

    Once qualified it's quite easy to relocate, although if your other half isn't working and you've a child your salary will have to be enough to prove that you can support them all comfortably in order to have them as dependants on your work permit.

    Starting salary within funds industry for a newly qualified would be approx US$70k. In terms of cost of living rent, utilities and groceries are expensive, but not prohibatively so and rent varies massively depending on where you live.

    If you've any other questions let me know.


  • #6
    Maka18
    Registered Users Posts: 4 ✭Maka18


    thanks Colts,

    the Company I work for now, have a location in Cayman but not sure how good the money is. As you said there would be 3 people living off my salary so you would really need to be earning over the 70K to support everyone. I think my best course of action for now is to get the professional qualification and go from there!!

    Thanks Again


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