Overseas experience is crucial to developing a career in finance, according to a survey of 3,019 Asia Pacific finance professionals conducted by eFinancialCareers in May and June 2011.

According to the eFinancialCareers' Movement of Finance Professionals Survey, 88% of finance professionals surveyed thought overseas experience was important or very important to their career, while 91% would consider taking a role abroad. Among Australians, 79% of finance professionals surveyed thought overseas experience was important or very important to their career, while 86% would consider taking a role abroad. Out of the 325 Australian finance professionals surveyed by eFinancialCareers, close to one in five (18%) of them are currently working abroad.

In terms of job opportunities, 68% of respondents from all markets believe Asia Pacific has the most job opportunities, and 65% of Australians concur.

When asked which city they are most keen on relocating to, Asian destinations were the most popular choice. Singapore (18%) came on top for finance professionals across all markets, closely followed by Hong Kong (14%) and London (12%). Australian respondents bucked this trend, instead preferring London (19%) and New York (18%) before Singapore (17%).

"These results show the level of intra-Asian mobility in financial markets," said George McFerran, Head of Asia Pacific, eFinancialCareers. "However, New York and London remain the most popular choices for Australians to move to, even though they perceive most job opportunities are in Asia. It seems Australian finance professionals have not yet fully embraced the idea of relocating to Asia."

"Given the opportunities on our doorstep, there really is no excuse for Asia-Pacific finance professionals not to have some international experience on their resume," said McFerran. "In today's highly mobile environment, staying at home is no longer an option."

When it comes to explaining their preferred relocation choice, majority of Australian finance professionals cite better career opportunities, better pay and lower taxes. Sao Paulo, Mumbai, Geneva and Frankfurt, are amongst the least desirable places for relocation for Australian finance professionals.

More than three quarters (77%) of Australian finance professionals surveyed say they would require a 20% salary increase or higher to lure them abroad for a new job with a new firm, while only 5% indicated no amount can convince them.

According to the survey, the financial job market is livelier than the previous year. 77% of Australian finance professionals surveyed have been approached by headhunters or recruiters since the start of 2011 and 22% have been approached more than five times.

Despite this, finance professionals from Australia remain more cautious than their peers in other markets about the current job market outlook. The survey reveals that 36% of finance professionals from Australia believe it is easy to find a job in the current climate, which is significantly lower than the Asia Pacific average of 46%.

Finance professionals from Australia are, however, positive about the global economy with 83% feeling confident to very confident about the 2011 outlook. This was consistent with the overall survey result in which 89% of all respondents declared confidence in the world economy.