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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
http://toi.in/Yde37a
Lol!! Hardship allowance!!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.
Thats a sad story here. That is why people work in west for several yrs & then come back so companies can pay them well.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.
I mean why not? They can't have their tasty cow meat here so its justified. Who likes curry?Lol!! Hardship allowance!!
Business & innovation does not end with any person. Problem is currency policy & enormous exports from low cost countries.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...
So true. I hear there's a 5 week compulsory paid vacation in FRANCE. Here they loot all the income tax moneyBeing 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.
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.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.
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?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.
Call it what you will but in China expats get an allowance tax break so it is pretty common for countries seeking skilled employees.Lol!! Hardship allowance!!
Read this part further down the articleThe 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.
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.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.