Western economies in deep freeze, expats look at India for jobs

Discussion in 'Economy & Infrastructure' started by Yusuf, Oct 9, 2011.

  1. Yusuf

    Yusuf GUARDIAN Administrator

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    According industry estimates, there are as many as 40,000 expats, mostly from the US and Europe, working in various industries in India today.

    http://toi.in/Yde37a
     
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  3. sob

    sob Moderator Moderator

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    Not just expats but many NRIs specially from UK are now looking for a job in India. Have a friend working in the banking sector, he is trying desperately to get a job in India. According to him they are hundreds of Indians who are looking to come back.
     
  4. Yusuf

    Yusuf GUARDIAN Administrator

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    Even a friend of mine is looking to do the same. I don't think it's because of money exactly for him as he is doing well in Delloite.

    But yes India is soon going to be the "land of opportunity". It helps that India has democracy and some in common with the west and off course language of English.

    WAB founder and former admin too moved to India for a job!!
     
  5. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    Being a Western expat in Asia I can relate. The thing that stuns me is the host country pays competitive wages to the West but the locals hardly ever get the wage the expats do for the same job.
     
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  6. sob

    sob Moderator Moderator

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    Earlier till late 90s western expats used to get a Hardship allowance when they moved to India. But for the last decade most of the MNCs have stopped paying this hardship allowance for India.
     
  7. Yusuf

    Yusuf GUARDIAN Administrator

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    Armand, it may not be for the same sets of skills. If you get some skills that are not available in the host country, you will get paid well. The article clearly says that the rear are being paid local industry standard wages.
     
  8. Yusuf

    Yusuf GUARDIAN Administrator

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    Lol!! Hardship allowance!!
     
  9. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

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    Thats a sad story here. That is why people work in west for several yrs & then come back so companies can pay them well.
     
  10. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

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    I mean why not? They can't have their tasty cow meat here so its justified. Who likes curry? :D
     
  11. JanjaWeed

    JanjaWeed Regular Member

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    it's been hard guys.. 10 years ago we had Steve Jobs, Bob Hope and Johnny Cash, but now we have no Jobs, no Hope and no Cash...
     
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  12. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

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    Business & innovation does not end with any person. Problem is currency policy & enormous exports from low cost countries.

    Domestic production of US is lower than anytime before. EU has its own problems.
     
  13. SPIEZ

    SPIEZ Senior Member Senior Member

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    So true. I hear there's a 5 week compulsory paid vacation in FRANCE. Here they loot all the income tax money :( :( :(
    And the jobs we are paid pee's for a higher ranking job when we consider foreign countries even Saudi's
     
  14. Yusuf

    Yusuf GUARDIAN Administrator

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    The west in the greed of more profit screwed itself and shot itself in the head when they outsourced all manufacturing to china. That started the decline. China would not have been this good and fast growing if the west had not done all that. They would not have lost jobs due to shut down of manufacturing. China would still have been in bamboo huts.
     
  15. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    The article says "What is interesting is that these expats are given compensation almost at par with what is being paid in foreign countries" How is that local industry wage?

    Call it what you will but in China expats get an allowance tax break so it is pretty common for countries seeking skilled employees.
     
  16. Yusuf

    Yusuf GUARDIAN Administrator

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    Read this part further down the article

    Talking about salary, she said, for most levels it is at par with industry standards, unless they are being brought in for a particular skill, which is niche and is non-existent within the country.
     
  17. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    It doesn't say local standards, it says industry standards. Big difference... Westerners won't travel 10,000km to take a job making less than they can get working at McDonalds back home. In France that is at least €1300 a month.
     
  18. sandeepdg

    sandeepdg Senior Member Senior Member

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    And so the famed western bubble burst continues...
     
  19. sandeepdg

    sandeepdg Senior Member Senior Member

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    Yes, and by industry standards, it implies that India follows the same industry standards as the other parts of world do. Believe me, some core sectors of the economy like banking/finance/investment, IT, real estate, chemicals, petrochemicals, shipping and construction etc pay really fat packages to their senior employees and decent to good packages to the general employees. They follow the same standards of compensation as the international standard. A monthly pay package of 4k-6k Euros for a senior employee is pretty common these days in IT, telecom and banking and finance industries in India.
     
  20. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    Those wages are only industry standard for senior blue collar workers, that is a starting wage for educated employment. When you get down to blue collar work in Asia you are getting little more than a French min wage, if that. The reason there is such a high turnover is people think that since Asia has such a high PPP that they can live like kings off that income. It is a shocking reality to them that if they want a Western lifestyle, they have to pay Western prices.
     
  21. thakur_ritesh

    thakur_ritesh Administrator Administrator

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    Armand,

    it depends on who is working in what capacity, with what skill sets and is a pass out of which institute.

    if someone is from the top 10-15 indian institutes in a particular specialization, then that person is in a different league, same is the case with the expats, not every expat earns a cut above the rest, no. if they are from the top global univs, they will indeed be competing with pass outs from those top indian institutes, the talent pool here has grown.

    do these expats earn more than the fellow indians? a simple answer is, no, certainly not till the time something spectacularly extraordinary is being brought to table. indian lalaji is not known to waste money, ever, same is the case with overseas MNCs, they have learnt their lessons.
     

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