Current State of the International IT Market?

psxndc asks: "My fiance's boss is recommending my fiance to a biotech company in Switzerland (the boss is leaving and thinks my fiance is too talented for her current position). We're in the US currently, but if my fiance moved to Switzerland, I'd have to go too (shucks). My question is: "What is the state of the job market over in Europe (specifically Switzerland) and the rest of the world?" For me specifically I'm looking for *nix work and Java, but the question stands for just IT in general. In the US it's still pretty dismal (in Boston at least), but I wanted to know what else might be out there."

Comments

Financial considerations

[The Mutant]

I'm an ex-pat New Yorker who has been living in London for just about five years now. In terms of compensation, a few points you should keep in mind :

• American is one of the few countries that tax on the basis of citisenship, not residency; bottom line, you're gonna be taxed in both conuntries, and you will be filing two sets of returns, but its not as bad as you might think because

• Any taxes you pay in a foreign country will earn you a tax credit on the US side

• The first $78K you earn outside the US is tax free (roughly equivalent to $100K taxable)
• You can deduct way more things than you possibly could while living in the US - for example, my accountants (KPMG) deduct everything associated with maintaing a home outside the US - utilities, taxes, upkeep, etc. Now way you can deduct that back home.
• Be careful about bringing in cash from the US; I have all my investments in a US based brokerage account. If I were to relocate it to a UK broker, I'd be taxed on both the US as well as the UK side
• Watch out for IRA contributions; the fine print sez any cash you contribute to an IRA account must come from US sources; a buddy of mine was happily contributing for ten years, got audited and had to dissolve the IRA and take a penalty (expensive!)
• Take a good look at offshore savings acccounts; this is something available to Europeans that American residents can't legally have; basically they allow you to defer (not avoid) taxes on interest. Used effectively, they can save you lots!

• Get used to the idea your taxes will be complicated; last year my US Federal tax return was 88 Pages!. Come the revolution those fucks will pay!

All said, you can earn a somewhat lower gross rate of pay here in Europe and still have compable or even markedly better take home, all due to your favourable tax situation.

Finally; a large component of getting a job is standing out from the crowd; back home you're just another American looking for work. In Europe, you'll be one of the (relatively) few Americans looking for work; it'll help. Good luck and don't be surprised if you never want to return - I don't!