You’ve heard and read it over and over. The BRICS this, the BRICS that. The BRICS are booming, the BRICS are unwinding. So what does it mean?
And What the Heck is a BRIC, Anyway?
This four-letter acronym is engrained in the lingo of global financial service professionals who are dealing with or doing business in Brazil, Russia, India and China — superpowers in their own right with massive economic potential. Think young, hungry and eager populations, resources, and a renewed interested in foreign direct investment (FDI). These four countries, along with a handful of others — Turkey, South Korea, Mexico, Thailand and Indonesia just to name a few — offer the risk and rewards that many financial services professionals crave.
Do You Have the Stomach For a Job In Emerging Markets?
You might if:
• You like to travel.
• You are multilingual.
• Political unrest and geopolitics don’t scare you.
• You take the (very) long view.
• You enjoy the thought of higher risks and rewards.
These are just a few traits potential employers will seek out when you walk in their door with hopes of landing a financial services role dealing the world’s emerging markets. These markets are frankly, just that…emerging. Economies are in place, yes, but in many instances, they’re nowhere as developed as that of the U.S. And bureaucracy, geopolitics and stagnation (and the resulting layoffs) are all too real in many of these locales.
I’m Interested, But Sell Me On It
Why now? Emerging market activity has attracted attention from both small and large investment houses. Asset managers looking to diversify have entered the game, and more in-depth research continues to be regularly churned out by some notable financial firms — further proof of the interest in doing business in smaller markets. Political unrest, currency fluctuations and logistics aside, the emerging markets remain on an upward trend.
Why me? Emerging markets truly have something for a number of financial services hopefuls — trading, research and analysis, strategy, mergers & acquisitions (M&A), and overall international deal making are all routes one can travel in this sector. But most importantly, the self-discovery and new business perspectives you’ll acquire may prove to be the most rewarding part of the job.