Russian-American *Julia had wanted to leave the United States for a couple of years, but the start of President Donald Trump’s second term forced her to start taking the idea seriously.
“I observed that individuals like myself—immigrants—were much more concerned following the election,” she explained to Euronews Next. “The warning signs became evident immediately.”
The anesthesiologist played a key role during the height of the COVID-19 pandemic in New York City but now aims to secure a position within the pharmaceuticals or biotechnology sector somewhere in Europe.
Euronews Next agreed to change her name to protect her identity while she looks for work overseas.
Julia is one of dozens of people who posted on the Reddit channel Amer/Exit, a play on words referring to Brexit, the UK’s departure from the European Union. Like her, users of the subreddit are trying to figure out how to leave the US for Europe or Canada in the wake of Trump’s second mandate.
Experts say it’s "too early" to tell whether this could be considered a "brain drain" but that the EU needs to prepare.
'We just could not keep up with the calls'
Arielle Tucker is the founder of Connected Financial Planning, a company that helps Americans relocate to Europe.
Tucker received more than 30 new American clients in the week after Trump’s reelection, a level of interest that’s been sustained throughout the last few months.
Many of Tucker’s clients are in their mid-30s or early 40s and work in executive roles in tech, pharmaceuticals or finance.
"The overall sense that I got from a lot of those individuals was they felt like they couldn’t control anything and they had to do something," Tucker said. "We just could not keep up with the calls".
They are working for multinationals with offices in Europe or can self-finance their move from a major American city like New York, Los Angeles, San Francisco, or Boston.
Her clients thought about a move "passively" for a while but then they "realised they just do not like the political climate in the US".
Alex Ingrim, founder of wealth management firm Liberty Atlantic Advisors, said more clients are contacting him with their visa processes well underway.
His clients skew older, from the mid-40s to 60-plus who are either working "digital nomad" jobs in tech, venture capital, or planning for retirement.
"A lot of people feel that the longer they stay in the US, the more uncertain they are about what the quality of life is going to be and how that might affect their financial well-being," Ingrim said.
Where they go depends on what they do, Tucker said, but it’s often a game of "whack-a-mole" where they try to find the best immigration opportunity for their clients.
Countries like Spain, Portugal, Switzerland, and Germany are becoming especially popular with Americans, Tucker and Ingrim said.
Europe has a 'real opportunity' to market to Americans
Tucker believes European companies have a "real opportunity" to market to Americans to help them fill expertise in missing sectors, like the IT sector, AI, and pharmaceuticals.
But one of the biggest barriers for Americans coming to Europe is a change in their salaries, Ingrim said.
"As he pointed out, you come across statistics such as those in Paris where wages could be just one-third of what they typically are in cities like Los Angeles or San Francisco." He continued, “This seems to pose a financial obstacle when considering how it will impact my future prospects.”
Federico Steinberg, a senior economist and international trade specialist at the Elcano Royal Institute in Spain, suggested that businesses should provide American workers with better compensation packages, including increased salaries or additional perks such as housing support, to encourage career transitions.
Steinberg said a clear long-term picture from the company for that person’s career past a five-year visa is also worthwhile.
"Europe, if it wants to become attractive, it has the potential," Steinberg said. "It has the work-life balance, it has the culture, the leisure part… so it’s all about the career opportunities".
It can also be complicated for Americans to move abroad because of a tax structure that makes it difficult for banks to work with them, Tucker added.
Tucker mentioned that if an American plans to save for retirement using a non-U.S. pension, they often face "substantial U.S. tax implications" as a result.
Ingrim mentioned that certain European financial institutions are attempting to establish a marketplace aimed at assisting these Americans.
“Prior to the arrival of COVID-19 and before the initial term of the Trump administration, most financial service providers were unwilling to cater to Americans as our numbers weren't significant enough,” he explained. “These days, however, I receive inquiries regarding this matter monthly.”
To further mitigate this, Steinberg said the EU could consider a short-term tax incentive to attract top talent, like is already done for top athletes.
'I can imagine myself being there'
In New York City, Julia mentioned that she feels fine with taking about one and a half years to prepare for the move since she believes in thoroughly considering her choice.
She’s considering Denmark, Germany, or Switzerland because she has transferable skills for many of their pharmaceutical jobs.
Her parents are also planning their retirement in Portugal, so moving to Europe would bring her closer to them.
She’s worried, however, that a new move could leave her feeling isolated, lonely and lost, even though she wants to settle in a vibrant city where she could meet new people.
Despite these issues, there’s very little that would convince her to stay, except for if the "whole administration gets impeached or fired".
“I could picture myself over in Europe,” she remarked. “The job listings make me feel quite enthusiastic.”
*The interviewee requested that her name be altered to maintain her privacy.