Scott Moore wrote:
> Chris Hills wrote On 12/06/05 14:01,:
>
>>In article <11pb67jijipsc6a_at_corp.supernews.com>, XOR <NOR_at_norgate.com>
>>writes
>>
>>
>>>JPMorgan Chase to strengthen offshoring to India
>>>http://news.webindia123.com/news/showdetails.asp?id=181952&n_date=20051205&cat=W
>>>orld
>>>
>>>In yet another instance of international businesses
>>>moving operations to India, American banking giant
>>>JPMorgan Chase plans to hire 4,500 staff in India over
>>>the next two years with an aim to move 30 per cent of
>>>its back office and support staff at its investment
>>>bank offshore by the end of 2007.
>>>
>>>The plans are being seen as the most ambitious move
>>>till date by an international investment bank to take
>>>advantage of the low cost of highly educated staff in India.
>>
>>
>>That makes some sense but they later say....
>>
>>
>>
>>>JPMorgan is also seeking to tap talent that it can use
>>>elsewhere in the group and some of those hired for the
>>>new operations have already been transferred to the US.
>>
>>
>>Now how is that going to work... Surely when they get to the US the cost
>>of living is so much higher that they will want US level salaries...
>>Unless they are suggesting that
>>
>>1 There are no US programmers left
>>2 Indian programers are that much better than US programmers.
>>
>>I can't see either case being true so something is going astray.
>>
>>I can see this being a short term fix for shareholders etc but it looks
>>like a long term disaster otherwise.
>>
>
>
> It's inherent to the H1B visa system. The employers bring them over
> with a bump up in salary, but still way below US average levels.
> Most people coming here under those circumstances are interested in
> a green card, and that takes 5 years or more. If you lose your job
> you have to start the waiting period all over again, and you are
> in danger of being deported as well. So you suck it up, make that
> low salary, and take whatever they dish out, since you are
> basically beholden to your employer. And the 5 years it takes to get
> your green card is longer than avergage turnover for technical jobs,
> even at normal salary levels.
>
> Whats not to like for US employers ?
>
Sounds like the we've gone back a few centuries to the old indentured
servant days. Come over and be a slave until your 5 year debt is paid
off. Now that's progress?
Received on Tue Dec 20 2005 - 12:16:08 CST
