The Process
I decided back in 2005, after I had graduated from PSU and finished a trip around the world, that I wanted to move to New Zealand some day. It was my favorite destination of my travels as I loved the country and the people. Once I became a senior associate at PwC, I began seriously considering a move as it would be good for me both personally and professionally. From a personal standpoint, I would get to go to country I always wanted to spend some time in, immerse myself in a different culture (although not nearly as different as Keith's Russian experience), meet new people, and see a unique and beautiful part of the world. From a professional standpoint, I would gain exposure to IFRS, learn about working with a variety of different people (New Zealand is very multi-cultural), and learn how to establish myself in an unfamiliar environment. Now I just had to figure out how to get half way around the world.
After talking with HR in Pittsburgh, I learned about a new program that they were rolling out in early 2008 called the EPIC Program. The previous link should take you to an informative page about the program. In short, it was developed specifically for people like me who wanted to embark on an international assignment prior to making manager with the firm. I think it was around January 2008 that I had made up my mind that I would apply for an international position. The EPIC Program's application form was not yet ready so I had to wait until April 2008 to apply. In the meantime, I met with one of the partners, my coaching manager, and HR to tell them of my interests and intentions. I had support from them all. The EPIC Program requires a partner to "sponsor" you - basically, they will help you with the application process, sign off as being supportive, and remain in contact with you throughout the assignment overseas.
The first step was to prepare a business case. This was where I listed the reasons as to why I should go (basically I listed the personal and professional reasons that I mention above with a bit more detail). After submitting the business case to Global Mobility and gaining approval, I was able to fill out the actual application. This was where I actually was able to list three different offices that I would be interested in going to. I listed Auckland as my first choice. I don't know how easy it is to get your first choice, but I had already contacted HR in Auckland and checked the global mobility site so I knew they had some openings. Within a couple weeks, I was contacted by HR in Auckland, and they set up a phone interview for me with a partner and senior manager from the Auckland office. My interview happened in late June. I found out about a week later that I had been accepted and a contract was mailed to me to begin in late August / early September. I don't know if it always happens this quickly so if you are interested, make sure to begin the process early. Most other secondees that I work with here in NZ had offers 6 months or so in advance, it just so happened that I was ready to go and they were ready for me.
The EPIC Program helps you through the moving process so if anyone is really interested and wants more of the specifics, feel free to post a comment and I'll answer, or send me an email at nate.t.smith@nz.pwc.com.
The Work
That's my office building in Auckland in the picture above. It's right on the water downtown with beautiful views of the harbor, North Shore, and a big volcano called Rangitoto. So, that's where I work when I'm not out at clients. The work here is similar in many ways but also very different. I could write a lot about this, but I'll try to stick to a few main points and either follow up in a later post or answer specific questions if you want to leave a comment.
Some of the major similarities are that we still use the same auditing program (currently MyClient but switching to Aura soon along with the U.S.), the local New Zealanders (or "Kiwis") speak some form of English although it takes some getting used to, the basic audit methodology is the same, teams seem to work in basically the same manner as back in the U.S. although are often smaller, and the camaraderie of the people is still great.
Some of the major differences are that they use IFRS as opposed to US GAAP, I work on many more engagements here than I did back home (10 or so here compared to 2-3 back home) as the clients are generally smaller, hours are generally a bit less but are busier, and the office is full of other secondees (from England, Ireland, Scotland, Netherlands, Vietnam, South Africa, France, Spain, etc.). The diversity of the office makes it very interesting and fun, and the expats tend to all want to go explore the country, so we spend a lot of weekends together traveling around. This is a really great aspect of working here.
The Country
Now I could write a million posts about how beautiful this country is. We have really nice beaches all over the place, mountains and volcanoes, rain forests, islands, caves and on and on. There is so much to do that I don't think my two year contract will even give me enough time to see it all. I've spent as many weekends and holidays as possible traveling around the north and south islands. I've done a lot of hiking, kayaking, driving, and flying around to see everything that there is to offer. I've even been assigned a client that I've spent 3 weeks in Samoa for so that was another added bonus.
One thing I've really noticed about the Kiwis is that they love the outdoors. People here get involved in all sorts of physical activities. I've joined a touch rugby team, dragonboat racing (sort of like a canoe with 20 people in it), netball team, and even run a half marathon since I've been here (something I thought I would never do). I love going hiking on a long weekend or even a regular one as there are many day-hikes in the area. They have all these treks called the "Great-Walks" that are multi-day hikes with cabins set up along the way that are really nice.
Anyway, I've been thoroughly enjoying my time here so far. I can't believe it's already been 8 months. Let me know if there is anything else you are curious about the EPIC Program, work in Auckland or at PwC in general, or just about New Zealand.
Me (on the right sporting my PSU shorts) with some fellow PwC secondees (Dutch, American, Irish, and Scottish) on top of Mt. Ngauruhoe which was Mt. Doom in Lord of the Rings
Me on top of a mountain while hiking the Routeburn Track on the South Island near Queenstown
Posts
That looks like an incredible experience Nate. I am glad to see everything is working out for you on the other side of the globe. It is always great to hear international experiences and how they relate and are different from domestic experiences. Can you augment on how you prepared yourself for the differences like IFRS? Did you take classes to prepare yourself for the different accounting standards?
ReplyDeleteRichard (Trey) Rabinek
PwC Pittsburgh
Hey Trey,
ReplyDeleteI didn't really prepare much for the differences over here. I like to figure things out as I go. I took a brief IFRS course at the ASATS annual sr. associate training last August and read some high level PwC publications about the differences between IFRS and US GAAP but did not do much other than that.
My second day on the job over here, I got stuck doing an IFRS disclosure checklist on a set of accounts for a company that just made the IFRS transition from old NZ GAAP (this was mandatory last year) so learned a bit immediately. I still feel like I have a lot to learn over here about IFRS and have made this one of my main objectives for this coming year. I missed out on most of the transition which seemed to be a pretty big pain for a lot of companies here, so hopefully it is smoother in the U.S. I kind of doubt it though, so make sure that your clients are considering early what they will need to do, and get involved in those discussions as early as possible.
Wow Nate, everything sounds incredible. I will be joining you halfway around the world soon as I will be starting my secondment in Sydney, Australia at the beginning of July. I will be flying through Aukland on the way, but have a very short layover. I hope to visit New Zealand during my two year secondment. I will also be posting from Sydney so be on the lookout for my first post in July.
ReplyDeleteHey Dave - that's great! I remember you telling me you were going to be going to Australia but wasn't sure when that was happening. Definitely make sure to check out New Zealand and let me know when you make your way over. I'm sure I'll be in Sydney at some point, too.
ReplyDeleteHi Nate,
ReplyDeleteI am currently a junior at Penn State and was introduced to the blog by Dustin. I participated in PwC’s summer leadership program at the Pittsburgh office this summer. I really enjoyed the time I spent there and am definitely impressed by the firm. I am blown away by your opportunity to do an assignment in New Zealand so early in your career. It sounds like you have already had some great experiences! I checked out the EPIC link and it seems like an awesome program. I am sure it is helpful to get hands on experience with IFRS as well. Has the firm already run into companies transitioning over (I know you are abroad so I am not sure if you have experienced that)? I thought I read somewhere that some companies would be using IFRS as early as 2010. I was just curious about how the firm is prepared for such a switch? I have not had much exposure to IFRS thus far in college and it seems like many of these switches would be happening once I begin my career.
Also, was wondering if participating in the EPIC program sets you behind at all at the Pittsburgh office once you return?
I am looking forward to hearing from you!
Rachel Howe
Hi Rachel - thanks for the post. So will you be applying for an internship this summer then? I hope classes are going well at PSU - I really miss it there.
ReplyDeleteNew Zealand has been great. To answer some of your questions, I believe that some of the larger companies in the U.S. do have the option to transition to IFRS in the coming year. We've been preparing for the switch for quite a while now. Even before I left to come to NZ a year ago, we were providing clients with PwC publications that discussed what to expect with the transition, the differences to US GAAP, etc. We also held information sessions/training courses to let our clients know what to expect and to communicate the importance of preparing well in advance. I'm sure we've been doing much more lately over there as well.
To answer your other question, I don't think the EPIC program should set me back at all. I feel like I've experienced more and gained a lot more exposure to a wide variety of clients by coming over here which I would think would better position me for returning to the U.S. I guess I'll know more in a year or so!
Please let me know if you have any other questions as I'm happy to answer.
Otr214428
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