The search for the best career choice in Bermuda after graduation Moneywise article of June 13, 2015, “From graduation to a rewarding career” generated a number of comments and direct requests for additional advice. As always, these readers’ personal information shall remain confidential, while their underlying plans for their future careers provide some interesting feedback for this weeks column.

Reader #1. “Although I graduated from university over three years ago, your article “From graduation to a rewarding career” was very inspirational! I finished my studies at the peak of the recession and know what it was like to come home (to Bermuda) and face the reality of having to re-gear career plans to suit the changing economy. I have found a new interest in accounting and after being exposed to the tourism industry I have found it to be extremely interesting and have generated a new love for it. I could see myself as part of the industry from a more corporate avenue with a focus in customer services. I feel that I am beginning to adjust to the needs of the (Bermuda) economy rather than fighting against it ...

Employers in the hospitality industry, this individual has potential!

Reader#2. “I have trained as a paralegal and am now at university working on a business administration major with a minor in computer technology. Once done, hopefully in the next year and half, I’d like to obtain an MBA. I was wondering if you had any advice in what jobs I should look into (Bermuda)? And should I look now or once I have my MBA?”

Again, Bermuda employers in legal, computer technology, and related fields, this is a motivated individual! If you are interested in these two individuals, please write to me and I will refer on to them.

The $64,000 question here is should this ambitious student spend a considerable additional sum (after university costs) for an MBA? Or, should he/she seek a job here after graduating, then either going for a professional qualification such as Certified Public Accountant, Chartered Financial Analyst, Certified Financial Planner, IT specialist, or insurance qualifications where the employer may/will reimburse him/her for such valiant efforts. He/she could also take a far less expensive MBA internet-based courses at night. In the meantime, he/she is earning a living.

Vigorous arguments have waged, forever it seems, in the US versus these two choices. As you can surmise, both camps are vociferous in their positions. Investment bankers have stated that an MBA is not a guaranteed ticket to an investment banking position, while others argue that it opened doors. Ultimately, the decision comes down to final costs. Being a pragmatic individual, I recommend that graduate individuals find employment, then assess what additional degrees and qualifications they need to further their ambitions. And, you never know, your employer may foot the bill.

“The Bermuda Jobs Market Employment Briefs May 2015” was released this week disclosing that job losses continued in 2014 of 802 positions gone, although the number somewhat abated on an annual basis when compared to prior years.

Very regretfully, the sum total of job losses since the year 2010 is a staggering 4,622 jobs eliminated.

To a young Bermudian thinking to return home, this brief may be quite discouraging news. However, the 2014 employment brief is also very good reference source for young Bermudian careerists because it detailed where the jobs are. There is hope, too, in the one bright spot of growth. International business showed an increase in positions, but the brief statistics definitely point to the fact that careful planning is very necessary to pursue a career in a profession — that is in demand and growing in Bermuda. And as I stated in the article on June 13, 2015, graduates need to very flexible — your dream job may not be currently available.

A detailed review of Table 3 (page 5 and 6) “Shortages of Bermudians in Selected Occupations”, 2014 demonstrates that in many professional and trade positions, Bermudians, status, PRCs, etc, there are gaps, large gaps in some cases, where guest workers have had to be hired because there are not enough qualified Bermudians to fill the positions.

Finance managers, hospitality managers, data processing, actuaries, accountants in all grade tiers, registered nurses, internal auditors, pharmacists, secondary education teaching professionals, economists/ securities analysts, computer professional, statistics and maths technicians, insurance and investment brokers, executive chefs, motor vehicle mechanics, and underwriters.

There are also a number of meaningful, professional jobs not categorised in The Bermuda Standard Classification of Occupations 2014, so I have to assume that they are lumped in with other classifications.

Careers such as trust officers, trust administrators, personal finance professionals investment advisers/officers, qualified financial planners, paralegals, and risk compliance officers, one of the fastest growing careers worldwide. Every firm today that comes anywhere close to conducting international business needs compliance personnel in order to be compliant with so many new global standards, regulations, and country laws: FATCA, GATCA, AML, FATF, EU Directives, OECD CRS, and on and on.

It has been lamented in media that young Bermudians are not returning for employment. What are we doing to bring them home? It isn’t enough to bemoan their absence. Bermuda needs to encourage (by offering incentives, etc,) every young Bermuda returning resident, who wants to work, wants to enhance his/her skills, and wants to succeed to become a productive contributor to Bermuda’s economy and her international reputation. What could be better than that? These graduates are us (as we were many years ago) needing a job, wanting to be independent, wanting to take their place as the eventual leaders in our community.

Certainly, we wish all graduates well in their endeavours. More than that, we hope that they embrace the world for what it can offer, learn, grow in confidence and return to Bermuda to add their skills to our workforce.

The opportunities are still here, Bermuda graduates, if you are willing to be persistent and resourceful to seek them. Do not be discouraged.

Bermuda graduates, you are our future. We need you, more than you will ever know!

Martha Harris Myron CPA PFS CFP JSM, Masters of Law: International Tax and Financial Services; appointed to the Professional Tax Advisory Council, American Citizens Abroad, Geneva, Switzerland. The Pondstraddler* Life™ Consultancy provides cross border financial planning for internationally mobile individuals and their businesses residing, working, crossing borders, and straddling ponds in the North Atlantic Quadrangle. Specific focus on residents of Bermuda, the premier international finance centre. Contact: martha@pondstraddler.com