One may wonder how, a country, with a population less than that of Bengaluru, can be the best bet for building a career in Finance? Your query is not unfounded, but there are sound reasons for this statement.
With a population of just 4.7 million, New Zealand is one of the most sparsely populated countries that depends heavily on its exports and its service sector to sustain its economy. With 71% of its population living in urban areas (53% of all people in NZ live in Auckland, Christchurch, Wellington & Hamilton), New Zealand has an abundance of landmass for all kinds of business and trade activities. As an advanced OECD country, NZ is one of the first countries to have any new technology/ innovation tested in its markets.
A small population has allowed successive NZ governments to adopt some of the most liberal, trade friendly policies that make it an attractive option for pursuing business opportunities. New Zealand is one of the most trade friendly countries in the world.
Despite having a small population, New Zealand’s geographic location makes it an attractive hub for investors and manufacturers. New Zealand is located to the east of Australia, which gives it direct access to the lucrative markets of the Americas on its East and the continents of Asia and Africa on its west. Due to its small population, businesses have invested heavily in modern factories that allow them to maximize production with a minimum head count.
Having a vibrant and thriving economy is a major reason for NZ to have a strong services sector, with many of those jobs in banking and financial services. Any major economy needs a strong banking and financial services network which can support it for providing loans, insurance, underwriting services, etc.
Additionally, there are many skilled professionals and freshers who are readily available due to the excellent quality of education that is provided by its Universities. This makes it easier for the organizations to recruit locally & spares them the trouble of moving executives globally (which is quite expensive).
The University of Otago, New Zealand is one of these Universities that are well known for turning out competent professionals consistently year after year. One such course that offers a promising career is the Masters in Finance that is offered in partnership with the BSE Institute Limited. Studying at the University of Otago can really help one secure a coveted job in the Banking & Financial Services sector.
New Zealand offers some of the highest salaries, primarily to Finance Executives. The city of Auckland has the highest average salary in NZ at $71,817/ year. The lowest average salary is $50,230/ year in remoter rural areas.
Coming to Finance, Financial Analysts earn the most in NZ at $110,000/ year. Entry level Banking/ Equity Analysts are paid a staggering $80,000/ year. Entry level Credit Risk Analysts are paid a huge $95,000/ annum.
It’s not just the salary, but also the standard of living that is World class. As an advanced OECD country, New Zealand has one of the highest standards of living in the World. As a country that is always in sync with the latest that the World has to offer, New Zealand is truly a great place to study, learn & earn!