A new wave of migrant workers goes to Brazil
An increasing number of high-skilled expats with international experience are returning to Brazil. Sure enough, they’ll be on time to catch the beginning of the World Cup - and it’s good to be early if you want to secure good seats. Yet their motives have more to do with having a seat in Brazil’s economic take-off, at a time when the country finds itself hungry for managerial talents.
Brazil’s unwieldy tax and bureaucratic system, added to the lack of spoken English at street level, makes it hard to recruit foreign managers; yet as its booming economy becomes a top-league player on the global scene, opportunities abound in banking, engineering, and consulting, to say a few. At the same time, the financial crisis has dried up the tap for top jobs in the West.
So the rules of the game are changing. And one that’s changing fast, is how much you get paid for the top jobs: chief executives in Sao Paolo are now earning an average of $620,000 excluding bonus - some of them getting closer to the salaries of Brazil’s soccer stars abroad. A strong real (Brazil’s currency) also helps. No wonder why footballers themselves are thinking of getting back home, too.