Hawala guys offer commission if you gave the rupee equivalent in India to X person for dollars in cash you get in US. The Hawala transactions to some estimates is 10 to 15 times bigger than normal transactions and very difficult to trace. It is not just "rate" which is deciding factor. People just dont want to enter the record books of Government. It is just that simple.hanumadu wrote:Why would it be many times 70 B unofficially? Most banks give much better rate than SBI of yesteryear and hawala transactions are tracked down. I don't see a big reason why people would send money outside official channels in large numbers.Altair wrote: 70b sent home officially. It would be many folds more on the ground....The power of service delivery.....
yup..Atleast 5 to 7 times 70 B will put that 350 to 500 B USD!! Long live the Indian financial foresight.
Indian IT Industry
-
Altair
- BRF Oldie
- Posts: 2620
- Joined: 30 Dec 2009 12:51
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Re: Indian IT Industry
Re: Indian IT Industry
That would mean the remittances are going out of India. Aren't we talking about dollar remittances into India. I thought hawala operated the other way round. You give dollars to a person in the US in exchange for rupees you get in India. The amount of rupees you get in India would be more than what you would get if you go through legal channels.Altair wrote: Hawala guys offer commission if you gave the rupee equivalent in India to X person for dollars in cash you get in US.
Re: Indian IT Industry
as Karan M was saying in another thread, lack of growth under Congi domination is leaving lakhs of youngsters each year with certain qualification but no jobs to match.
campus hiring for IT is surely going be 30% down from last yr
http://timesofindia.indiatimes.com/tech ... 687606.cms
BANGALORE: IT firms that have been the biggest employers of engineering talent are sharply reducing their intake on account of automation of lower-end processes, and a move to higher-end work.
The IT industry used to hire half or more of the approximately 5 lakh engineers that India produces each year, but that number is now sharply down, and is estimated to be significantly below 2 lakh last year. Though one reason for that is the slowdown in global IT demand, there is now a much more serious longer term reason for why the industry may not touch those hiring highs again.
Mundane, repetitive IT tasks are getting automated, just as it did in the traditional manufacturing sector. Equally, the major IT companies are all talking of moving to do more sophisticated and complex work that requires skilled engineers. "Technology and automation have been significantly minimizing the human intervention across industries and this would mean a reduction in fresher hiring in the country," said Saurabh Govil, senior vice president of human resources, at Wipro.
Fresher hiring, he said, would be muted going forward. "Previously, companies focused on investing on the supply (people) side. But now the focus is on innovation on the demand side (to create demand for IT). The focus is on managing demand and creating demand," Govil said. Infosys's new strategy that it calls 3.0 is entirely predicated on the assumption that their customers' requirements have become more sophisticated and they will have to be met primarily through products and platforms; and that requires few people to build and manage. The company's revenue per employee has shown clear signs of rising in recent years; it stood at $47,215 last year, compared to $44,473 in 2008-09.
HCL said it would not hire freshers this year; Wipro said fresher hiring would drastically come down. Wipro's gross employee utilization was as low as 64.9% in the last quarter. Infosys's was 70.9%; it says the ideal figure is between 78% and 82%.
Romi Malhotra, CEO of Linkage India, a global leadership development and employability solutions provider, said IT had become an old economy sector in terms of growth rate and hiring volumes. "Today, the industry has enough critical mass to hire from within. So we will see a whole lot of freshers moving into niches and specialization around mobility, cloud and gaming," he said.
campus hiring for IT is surely going be 30% down from last yr
http://timesofindia.indiatimes.com/tech ... 687606.cms
BANGALORE: IT firms that have been the biggest employers of engineering talent are sharply reducing their intake on account of automation of lower-end processes, and a move to higher-end work.
The IT industry used to hire half or more of the approximately 5 lakh engineers that India produces each year, but that number is now sharply down, and is estimated to be significantly below 2 lakh last year. Though one reason for that is the slowdown in global IT demand, there is now a much more serious longer term reason for why the industry may not touch those hiring highs again.
Mundane, repetitive IT tasks are getting automated, just as it did in the traditional manufacturing sector. Equally, the major IT companies are all talking of moving to do more sophisticated and complex work that requires skilled engineers. "Technology and automation have been significantly minimizing the human intervention across industries and this would mean a reduction in fresher hiring in the country," said Saurabh Govil, senior vice president of human resources, at Wipro.
Fresher hiring, he said, would be muted going forward. "Previously, companies focused on investing on the supply (people) side. But now the focus is on innovation on the demand side (to create demand for IT). The focus is on managing demand and creating demand," Govil said. Infosys's new strategy that it calls 3.0 is entirely predicated on the assumption that their customers' requirements have become more sophisticated and they will have to be met primarily through products and platforms; and that requires few people to build and manage. The company's revenue per employee has shown clear signs of rising in recent years; it stood at $47,215 last year, compared to $44,473 in 2008-09.
HCL said it would not hire freshers this year; Wipro said fresher hiring would drastically come down. Wipro's gross employee utilization was as low as 64.9% in the last quarter. Infosys's was 70.9%; it says the ideal figure is between 78% and 82%.
Romi Malhotra, CEO of Linkage India, a global leadership development and employability solutions provider, said IT had become an old economy sector in terms of growth rate and hiring volumes. "Today, the industry has enough critical mass to hire from within. So we will see a whole lot of freshers moving into niches and specialization around mobility, cloud and gaming," he said.
Re: Indian IT Industry
http://www.nytimes.com/2013/03/26/busin ... rcers.html
Sea Change in Hiring for India Outsourcers
By HARICHANDAN ARAKALI and TONY MUNROE | REUTERS
Published: March 25, 2013
MUMBAI — Indian information technology outsourcers are relying more on experienced workers, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staffs.
The shift by Infosys and others is symptomatic of a maturing industry that wants more revenue from its own intellectual property instead of providing only labor-intensive, low-margin information technology and back-office services.
For young graduates who see the $108 billion I.T. industry as a sure pathway to modern India’s growing middle class, the transformation is unsettling.
Dozens of industry aspirants who were recruited by one of the smaller players, HCL Technologies, recently protested outside its offices in several cities. They were offered jobs in 2011, before graduating last year but have not yet been given start dates, much less paychecks.
HCL’s profit and revenue rose in the fourth quarter of 2012, while staff numbers shrank — a rare trick in an industry that has long aspired to break the linear relationship between head count and revenue growth.
Just 20 percent of the 5,000 to 6,000 campus recruits offered jobs by HCL in 2011 have been actually hired since graduation last summer, and HCL said it had made no offers in 2012 to students who would graduate in June this year.
Slower growth, fewer people leaving, greater demand by customers for experienced staff and increased productivity through automation and software have put pressure on all recruits, according to HCL, although it said it expected to accelerate hiring of entry-level staff beginning next August.
“It’s not that the demand doesn’t exist; it exists for different skills,” said Ajay Davessar, an HCL spokesman. “Typical roles, which a student thinks, ‘I’ll just go there and start coding, and have a good life,’ are being tested to reality.”
Tech Mahindra, another outsourcing company, is naming 100 managers to be what it calls mini-C.E.O.’s, who will be given broad latitude to run their parts of the business.
“We’re moving towards a situation like the developed economies, where we’re asking the people to be more deep,” said Sujitha Karnad, who heads human resources at Tech Mahindra. “We want more solution architects to be here.”
While plenty of Indian back-office work — like technical support, processing insurance claims and staffing call centers — will remain labor-intensive, software service companies are looking to move up the value chain, which means raising the productivity of staff members.
Growth in revenue per employee across the industry could expand to 5 percent a year in the next two years from about 3 percent over the past five, said Frederic Giron, principal analyst at Forrester Research. The growth rate is likely to accelerate starting in 2015, as work based on intellectual property accounts for a growing share of the total, he said.
The information technology service industry developed in India in large part because of the availability of inexpensive skilled labor, an advantage that is eroding as wages and other costs rise in the country. In years past, it was cost-effective for I.T. companies to hire new graduates by the thousands and keep a portion idle, awaiting deployment on a client project.
But budget-constrained clients now demand shorter lead times. I.T. vendors that might have hired people six months in advance of an expected contract are now working with a one- or two-month window, said Surabhi Mathur Gandhi, senior vice president at TeamLease, a consulting firm for staffing.
Traditionally, about 30 percent of Indian I.T. workers are idle, or “on the bench,” at any time, often in training, as they await deployment. In the quarter that ended in December, about 70 percent of Infosys staff members were deployed on billable projects; the figure was less than 65 percent at Wipro.
At Tata Consultancy Services, the largest Indian I.T. services company, the figure was 72 percent, within what Ajoyendra Mukherjee, its human resources leader, calls the comfort range of 70 to 74 percent utilization. “I think we can push it up to 75, 76,” he said.
Another I.T. services company, iGate, envisions having 10 percent of staff members on the bench, said Srinivas Kandula, its human resources chief, who predicts that the size of its bench will shrink two or three percentage points a year over the next five years.
Shorter benches will mean a smaller share of hiring is direct from campuses, as an experience worker moving from a competitor would be less willing to wait to be deployed, and companies would be reluctant to pay them to do so.
Companies are also binding hires, especially experienced ones, with three-month notice periods without buyout clauses, compared with one-month notice periods previously.
Among top-tier companies that are most actively trying to push growth where revenue is not constrained by the size of the work force, about 70 percent of employees are experienced staff, up from 60 percent in 2008, said Rajiv Srinivas, an associate director at Tech Mahindra. He expects that to rise to 90 percent in the next two or three years.
At Infosys, the net quarterly addition of employees fell from 4,906 in the March quarter last year to 977 in the December quarter (excluding an acquisition). But recruitment of experienced workers held steady at an average of about 4,300 per quarter through December, meaning the percentage of campus hires was much lower.
“Earlier, the focus was more on career: you get into a job, you start learning and slowly acquire knowledge over a period of time,” said Sunil Gupta, who joined Infosys as vice president of quality about six months ago from the Indian unit of Logica, which in turn is part of the Canadian I.T. service company CGI Group. “Today the value of a professional is judged by how quickly you’re learning, how quickly you’re adapting yourself and changing along with the environment.”
Sea Change in Hiring for India Outsourcers
By HARICHANDAN ARAKALI and TONY MUNROE | REUTERS
Published: March 25, 2013
MUMBAI — Indian information technology outsourcers are relying more on experienced workers, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staffs.
The shift by Infosys and others is symptomatic of a maturing industry that wants more revenue from its own intellectual property instead of providing only labor-intensive, low-margin information technology and back-office services.
For young graduates who see the $108 billion I.T. industry as a sure pathway to modern India’s growing middle class, the transformation is unsettling.
Dozens of industry aspirants who were recruited by one of the smaller players, HCL Technologies, recently protested outside its offices in several cities. They were offered jobs in 2011, before graduating last year but have not yet been given start dates, much less paychecks.
HCL’s profit and revenue rose in the fourth quarter of 2012, while staff numbers shrank — a rare trick in an industry that has long aspired to break the linear relationship between head count and revenue growth.
Just 20 percent of the 5,000 to 6,000 campus recruits offered jobs by HCL in 2011 have been actually hired since graduation last summer, and HCL said it had made no offers in 2012 to students who would graduate in June this year.
Slower growth, fewer people leaving, greater demand by customers for experienced staff and increased productivity through automation and software have put pressure on all recruits, according to HCL, although it said it expected to accelerate hiring of entry-level staff beginning next August.
“It’s not that the demand doesn’t exist; it exists for different skills,” said Ajay Davessar, an HCL spokesman. “Typical roles, which a student thinks, ‘I’ll just go there and start coding, and have a good life,’ are being tested to reality.”
Tech Mahindra, another outsourcing company, is naming 100 managers to be what it calls mini-C.E.O.’s, who will be given broad latitude to run their parts of the business.
“We’re moving towards a situation like the developed economies, where we’re asking the people to be more deep,” said Sujitha Karnad, who heads human resources at Tech Mahindra. “We want more solution architects to be here.”
While plenty of Indian back-office work — like technical support, processing insurance claims and staffing call centers — will remain labor-intensive, software service companies are looking to move up the value chain, which means raising the productivity of staff members.
Growth in revenue per employee across the industry could expand to 5 percent a year in the next two years from about 3 percent over the past five, said Frederic Giron, principal analyst at Forrester Research. The growth rate is likely to accelerate starting in 2015, as work based on intellectual property accounts for a growing share of the total, he said.
The information technology service industry developed in India in large part because of the availability of inexpensive skilled labor, an advantage that is eroding as wages and other costs rise in the country. In years past, it was cost-effective for I.T. companies to hire new graduates by the thousands and keep a portion idle, awaiting deployment on a client project.
But budget-constrained clients now demand shorter lead times. I.T. vendors that might have hired people six months in advance of an expected contract are now working with a one- or two-month window, said Surabhi Mathur Gandhi, senior vice president at TeamLease, a consulting firm for staffing.
Traditionally, about 30 percent of Indian I.T. workers are idle, or “on the bench,” at any time, often in training, as they await deployment. In the quarter that ended in December, about 70 percent of Infosys staff members were deployed on billable projects; the figure was less than 65 percent at Wipro.
At Tata Consultancy Services, the largest Indian I.T. services company, the figure was 72 percent, within what Ajoyendra Mukherjee, its human resources leader, calls the comfort range of 70 to 74 percent utilization. “I think we can push it up to 75, 76,” he said.
Another I.T. services company, iGate, envisions having 10 percent of staff members on the bench, said Srinivas Kandula, its human resources chief, who predicts that the size of its bench will shrink two or three percentage points a year over the next five years.
Shorter benches will mean a smaller share of hiring is direct from campuses, as an experience worker moving from a competitor would be less willing to wait to be deployed, and companies would be reluctant to pay them to do so.
Companies are also binding hires, especially experienced ones, with three-month notice periods without buyout clauses, compared with one-month notice periods previously.
Among top-tier companies that are most actively trying to push growth where revenue is not constrained by the size of the work force, about 70 percent of employees are experienced staff, up from 60 percent in 2008, said Rajiv Srinivas, an associate director at Tech Mahindra. He expects that to rise to 90 percent in the next two or three years.
At Infosys, the net quarterly addition of employees fell from 4,906 in the March quarter last year to 977 in the December quarter (excluding an acquisition). But recruitment of experienced workers held steady at an average of about 4,300 per quarter through December, meaning the percentage of campus hires was much lower.
“Earlier, the focus was more on career: you get into a job, you start learning and slowly acquire knowledge over a period of time,” said Sunil Gupta, who joined Infosys as vice president of quality about six months ago from the Indian unit of Logica, which in turn is part of the Canadian I.T. service company CGI Group. “Today the value of a professional is judged by how quickly you’re learning, how quickly you’re adapting yourself and changing along with the environment.”
Re: Indian IT Industry
US Senator accuses Indian companies of abusing H-1B visas
May be covered here already..
May be covered here already..
Re: Indian IT Industry
Outsourcers or consulting companies in IT - the decline is not due to lack of business. It is due to the growth models and stupid processes that are existing in these companies. More focus on quality and process and not much on core skills. The persons with core skills that actually the reason of success are not appreciated. Everyone at the end to grow has to become some sort of manager. If a tag manager comes then it is considered good growth. If a tag data analyst comes, he is not seen in the same light. This worked okay when you are doing just maintenance projects. It will not work as firms and agencies across the world are replacing their old systems with new systems to take advantage of technology changes that are happening in hardware and communication worlds.
Re: Indian IT Industry
Employees at TCS Finland offices stage protest over job cuts
http://economictimes.indiatimes.com/tec ... 730391.cms
NEW DELHI: Employees at the Finland offices of India's largest software services exporter TCS staged a walkout today protesting against job cuts even as the company said it has started consultations on the issue with their representatives.
About 160 Tata Consultancy Services BSE -2.42 % (TCS) employees based at its offices in Espoo and Salo in Finland reportedly staged a walkout at the company's premises protesting over the decision to cut around 290 jobs.
The firm has about 800 employees in Finland. When reached for comments, a TCS spokesperson said: "TCS has begun collective consultations in Finland with employee representatives. The consultation process is aimed at streamlining TCS's operations in selected areas and harmonising
them with its global operations."
TCS has been servicing the Finnish market for more than 11 years and has a registered office in Helsinki.
The spokesperson further added: "The negotiations are expected to be concluded after six weeks. TCS is committed to supporting all potentially impacted employees throughout this process. Until the consultations with employee representatives are complete, TCS will be unable to provide any further details."
The total headcount at TCS stood at 2,76,196 as of March 31, 2013. The company said it will also hire 45,000 people this year and has already made 25,000 campus offers.
------------------------------------------------------
So much for the "Hire for Retire" slogan
Regards,
Virendra
http://economictimes.indiatimes.com/tec ... 730391.cms
NEW DELHI: Employees at the Finland offices of India's largest software services exporter TCS staged a walkout today protesting against job cuts even as the company said it has started consultations on the issue with their representatives.
About 160 Tata Consultancy Services BSE -2.42 % (TCS) employees based at its offices in Espoo and Salo in Finland reportedly staged a walkout at the company's premises protesting over the decision to cut around 290 jobs.
The firm has about 800 employees in Finland. When reached for comments, a TCS spokesperson said: "TCS has begun collective consultations in Finland with employee representatives. The consultation process is aimed at streamlining TCS's operations in selected areas and harmonising
them with its global operations." TCS has been servicing the Finnish market for more than 11 years and has a registered office in Helsinki.
The spokesperson further added: "The negotiations are expected to be concluded after six weeks. TCS is committed to supporting all potentially impacted employees throughout this process. Until the consultations with employee representatives are complete, TCS will be unable to provide any further details."
The total headcount at TCS stood at 2,76,196 as of March 31, 2013. The company said it will also hire 45,000 people this year and has already made 25,000 campus offers.
------------------------------------------------------
So much for the "Hire for Retire" slogan
Regards,
Virendra
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subhamoy.das
- BRFite
- Posts: 1027
- Joined: 11 Aug 2016 06:14
Re: Indian IT Industry
Not sure what is routine in IT? I have not see anything routine in my 25+ years which can be automated in large scale. Most of the output of IT is either document or code and both cannot be produced automatically by a machine. sure the amount of time u spend on coding can come down as u have wizards to generate them but then the models - which are inputs to the wizards - will have to be written by a human. For BPO and other knowledge sectors, may be there is some scope but then the fact that it is all mind driven virtual output - no physical output produced - will keep automation to very low levels. The real reason is that these service companies are now trying to go up the value chain and sell trunkey solutions, rather than heads, and hence experience technical hands in in demand. But once we break into the solution then again programmes will be needed to impement these solutions and we will see recruitment going up.
Re: Indian IT Industry
Entry level will face the hiring issues - not the experienced ones. The latter category will always be in demand provided they keep their skills up-to-date. I think this is what muppalla is also saying.
FWIW
FWIW
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Harry S. Devon
- BRFite -Trainee
- Posts: 10
- Joined: 11 Aug 2016 06:14
Re: Indian IT Industry
The US jobs market direct hire - for brains is heading upwards. That would mean consulting organizations will take a hit.
Re: Indian IT Industry
What Is a STEM Worker?
A:
A person with an educational background in science, technology, engineering, or mathematics is considered a STEM worker. The majority of STEM workers have advanced degrees, such as masters' degrees and doctorates in these areas.
Do We Have Enough STEM Workers in the United States?
Currently in the United States, lawmakers, businesses, and universities are engaged in an important discussion: is the United States producing enough STEM workers? Are we allowing enough STEM workers to enter the country through work visas? And what can we do to ensure that we are producing enough STEM workers in the future?
As technology advances and many manufacturing jobs move overseas, the U.S. would like to focus on growing the economy through certain high-tech industries. However, many companies complain that a STEM worker shortage makes it impossible for us to keep pace with other competing countries across the world, including India and China. Many believe that increasing the number of STEM worker immigrants can help solve this problem – along with new programs that focus on technology in schools.
New Immigration Policies To Attract STEM Workers to American Companies
At this time, the federal government generally agrees that new immigration policies and reforms should be put in place to help get the most talented STEM workers in the world to American companies.
http://www.dekirby.net/faqs/what-is-a-stem-worker.cfm
A:
A person with an educational background in science, technology, engineering, or mathematics is considered a STEM worker. The majority of STEM workers have advanced degrees, such as masters' degrees and doctorates in these areas.
Do We Have Enough STEM Workers in the United States?
Currently in the United States, lawmakers, businesses, and universities are engaged in an important discussion: is the United States producing enough STEM workers? Are we allowing enough STEM workers to enter the country through work visas? And what can we do to ensure that we are producing enough STEM workers in the future?
As technology advances and many manufacturing jobs move overseas, the U.S. would like to focus on growing the economy through certain high-tech industries. However, many companies complain that a STEM worker shortage makes it impossible for us to keep pace with other competing countries across the world, including India and China. Many believe that increasing the number of STEM worker immigrants can help solve this problem – along with new programs that focus on technology in schools.
New Immigration Policies To Attract STEM Workers to American Companies
At this time, the federal government generally agrees that new immigration policies and reforms should be put in place to help get the most talented STEM workers in the world to American companies.
http://www.dekirby.net/faqs/what-is-a-stem-worker.cfm
Re: Indian IT Industry
Is there really a shortage of STEM workers?
http://acscareers.wordpress.com/2012/02 ... m-workers/
Every so often, this question pops up and the debate begins again – do we have too many science, technology, engineering and mathematics (STEM) workers, or not enough? Some people say that scientists are having difficulty finding jobs, so we must be creating too many scientists. But there are still lots of places where technical expertise is needed, so obviously we’re not creating enough scientists. Which is true? A couple of recent reports have looked into the issue, and added more fuel to the discussion.
The first one, the STEM Report, was released by Georgetown University in October 2011, and argues that there really is a shortage of STEM workers in the United States, but not for the reasons traditionally cited. These authors concluded that “innovation and technology change have led to the demand for STEM competencies beyond traditional STEM occupations”, and the deeper problem is a broad scarcity of workers with basic STEM competencies across the entire economy. They postulate that domestic STEM talent is moving into non-STEM occupations because the core cognitive STEM competencies are becoming increasingly valued in non-STEM occupations that are highly-paid, prestigious, and more in line with worker’s interests and values. Workers leak out of the STEM pipeline at all stages, after they have acquired varying levels of proficiency in STEM competencies. For example, only 19% of students who graduate with a bachelor’s degree do so in a STEM field, and only about half of those actually work in a STEM field after college. After 10 years post-graduation, only 8% are still working in a STEM field. The authors of this report argue that the vacated positions have in recent years been filled by foreign-born STEM students, who are more likely than non-STEM students to remain in this country and become STEM workers.
The second report recent report is entitled “Jobs Americans Can’t Do: The Myth of a Skilled Worker Shortage”, and was published in November 2011 by the Federation for American Immigration Reform (FAIR). This is a group that advocates for immigration policy reform, and not surprisingly their report concludes that “U.S. tech companies are cutting wages by discriminating against qualified American workers”, and that “there is no evidence that there is, or will exist in the foreseeable future, a shortage of qualified native-born scientists and engineers in the United States”. In fact, they find that the “glut of science and engineering degree holders has caused many S&E graduates to seek work in other fields”, and foreign-born scientists who are willing to “work for smaller wages” are taking jobs away from native-born workers.
Even though the reports come to different overall conclusions, both agree that STEM-trained workers overall are leaving their field in large numbers, at all stages of their careers. (They also agree that the academic market for PhDs in STEM areas is weak.)
However, the first report believes that the competencies of STEM workers are highly valued in non-STEM occupations, so workers are being pulled into lucrative careers elsewhere, and we should train more workers to fill both the STEM and non-STEM markets with technically trained professionals. The FAIR report believes that the influx of foreign-born students and scientists has flooded the market, depressing wages and forcing STEM workers out and into other fields. Specifically, what is it that makes STEM-trained workers so valuable? The core competencies specifically identified in the Georgetown University report include critical thinking, complex problem solving, deductive and inductive reasoning, problem sensitivity (the ability to tell when something is wrong or likely to go wrong), systems analysis, and many others. While we may learn these skills in a research lab, or hone them in a manufacturing plant, they are applicable to a wide variety of industries and job fields, both technical and non-technical. I encourage you to check out the list, and think about which of these competencies particular strengths are for you, and which ones you might be able to add to your resume.
Regardless of which interpretation is you might agree with (and does it really matter?), the bottom line is that STEM-trained workers are valued in non-STEM fields, and that value is increasing over time. It also means people trained with a STEM background have more options when looking for employment, which I think everyone will agree is a good thing.
http://acscareers.wordpress.com/2012/02 ... m-workers/
Every so often, this question pops up and the debate begins again – do we have too many science, technology, engineering and mathematics (STEM) workers, or not enough? Some people say that scientists are having difficulty finding jobs, so we must be creating too many scientists. But there are still lots of places where technical expertise is needed, so obviously we’re not creating enough scientists. Which is true? A couple of recent reports have looked into the issue, and added more fuel to the discussion.
The first one, the STEM Report, was released by Georgetown University in October 2011, and argues that there really is a shortage of STEM workers in the United States, but not for the reasons traditionally cited. These authors concluded that “innovation and technology change have led to the demand for STEM competencies beyond traditional STEM occupations”, and the deeper problem is a broad scarcity of workers with basic STEM competencies across the entire economy. They postulate that domestic STEM talent is moving into non-STEM occupations because the core cognitive STEM competencies are becoming increasingly valued in non-STEM occupations that are highly-paid, prestigious, and more in line with worker’s interests and values. Workers leak out of the STEM pipeline at all stages, after they have acquired varying levels of proficiency in STEM competencies. For example, only 19% of students who graduate with a bachelor’s degree do so in a STEM field, and only about half of those actually work in a STEM field after college. After 10 years post-graduation, only 8% are still working in a STEM field. The authors of this report argue that the vacated positions have in recent years been filled by foreign-born STEM students, who are more likely than non-STEM students to remain in this country and become STEM workers.
The second report recent report is entitled “Jobs Americans Can’t Do: The Myth of a Skilled Worker Shortage”, and was published in November 2011 by the Federation for American Immigration Reform (FAIR). This is a group that advocates for immigration policy reform, and not surprisingly their report concludes that “U.S. tech companies are cutting wages by discriminating against qualified American workers”, and that “there is no evidence that there is, or will exist in the foreseeable future, a shortage of qualified native-born scientists and engineers in the United States”. In fact, they find that the “glut of science and engineering degree holders has caused many S&E graduates to seek work in other fields”, and foreign-born scientists who are willing to “work for smaller wages” are taking jobs away from native-born workers.
Even though the reports come to different overall conclusions, both agree that STEM-trained workers overall are leaving their field in large numbers, at all stages of their careers. (They also agree that the academic market for PhDs in STEM areas is weak.)
However, the first report believes that the competencies of STEM workers are highly valued in non-STEM occupations, so workers are being pulled into lucrative careers elsewhere, and we should train more workers to fill both the STEM and non-STEM markets with technically trained professionals. The FAIR report believes that the influx of foreign-born students and scientists has flooded the market, depressing wages and forcing STEM workers out and into other fields. Specifically, what is it that makes STEM-trained workers so valuable? The core competencies specifically identified in the Georgetown University report include critical thinking, complex problem solving, deductive and inductive reasoning, problem sensitivity (the ability to tell when something is wrong or likely to go wrong), systems analysis, and many others. While we may learn these skills in a research lab, or hone them in a manufacturing plant, they are applicable to a wide variety of industries and job fields, both technical and non-technical. I encourage you to check out the list, and think about which of these competencies particular strengths are for you, and which ones you might be able to add to your resume.
Regardless of which interpretation is you might agree with (and does it really matter?), the bottom line is that STEM-trained workers are valued in non-STEM fields, and that value is increasing over time. It also means people trained with a STEM background have more options when looking for employment, which I think everyone will agree is a good thing.
Re: Indian IT Industry
There is no shortage of anything.
Its all just hype.
Its all just hype.
Re: Indian IT Industry
As I'd written about before, the lack of a decent sized domestic tech market is one of the biggest hurdles to developing a strong base of startups in India. Indian startups in my experience move out of India at the first opportunity to do so unless they are specifically India focused like flipkart.
This article talks about the trend of startup founders moving to silicon valley rather than staying in India.
http://economictimes.indiatimes.com/new ... ttarget=no
Accelerators like Ycombinator and 500 startups are extremely aspirational among startup founders in India because they are a way to get to the Mecca of SV relatively easily.
This article talks about the trend of startup founders moving to silicon valley rather than staying in India.
http://economictimes.indiatimes.com/new ... ttarget=no
Accelerators like Ycombinator and 500 startups are extremely aspirational among startup founders in India because they are a way to get to the Mecca of SV relatively easily.
Re: Indian IT Industry
Some have partaken of singapore govt grants and tax breaks and moved to singapore..not just in it, but other fields as well.
Re: Indian IT Industry
iGATE terminates employment of CEO Phaneesh Murthy on sexual misconduct charges
BANGALORE: Nasdaq-listed iGATEBSE 0.00 % Corporation announced that its board of directors has terminated the employment of president and chief executive officer Phaneesh Murthy as a result of an investigation of the facts and circumstances surrounding a relationship that Murthy had with a subordinate employee and a claim of sexual harassment.
"The investigation, which is ongoing, has reached the finding that Murthy's failure to report this relationship violated iGATE's policy, as well as Murthy's employment contract," company said in a statement. "The investigation has not uncovered any violation of iGATE's harassment policy."
A former head of sales at India's second largest software exporter Infosys, this is the second time Murthy is getting entangled in a sexual harassment case involving another employee of the same organization. Earlier in 2003, Murthy faced a sexual harassment lawsuit filed by his former executive secretary at Infosys Reka Maximovitch. Maximovitch had complained of sexual harassment and wrongful termination of employment. Infosys, settled the lawsuit out of court for $3 million.
Re: Indian IT Industry
^^WTF?
Again a sexual harassment case in his next co too?
Again a sexual harassment case in his next co too?
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Sriman
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Re: Indian IT Industry
He's claiming its the same lawyer from the first case is behind this as well, but admits to the relationship. Why would you get into a relationship with a subordinate when you've already been sued once for harrassment?sum wrote:^^WTF?
Again a sexual harassment case in his next co too?
Re: Indian IT Industry
Acharya ji, I think you are wrong on the part that says "that companies cannot pay visa holders more than wage paid to native born workers". The present rule says that the H1 employee should be paid a minimum of prevailing wages(which are calculated by govt and come in various levels, the H1-b companies normally have to satisfy the lowest level), Govt is not bothered if the company is going to pay more than prevailing wages..Acharya wrote:Among the wide-ranging bill’s provisions:
...........
• Requiring employers to pay higher wages for H-1B workers than under current law. (As now, they could not pay visa-holders more than the prevailing wage paid to native-born workers.)
.....................
if this immigration reform comes for implementation, instead of level 1(which is the least prevailing wage), the employers are mandated to pay Level-2 on prevailing wages(which is slightly higher than level-1, for a programmer analyst about $10,000/anum more than level 1).
Also this would increase the GC applications by companies such as TCS, WIPRO and Infosys. These companies are known to bring in 5000 odd consultants every year from India and are known to only apply for GC for no more than 10 consultants/year. Employees whose GC applications have been filed by the companies would not be counted towards the H1-b total for the company.
Re: Indian IT Industry
more than that, why would you do it when your wife stood by you in the 1st case and you have two kids who are old enough to understand all this? perhaps he was not getting his marital dues at home and hence looking out for action, perhaps he lived variety in bed......nobody would be surprised if his wife walks off now with 50% of his assets though.Sriman wrote:He's claiming its the same lawyer from the first case is behind this as well, but admits to the relationship. Why would you get into a relationship with a subordinate when you've already been sued once for harrassment?sum wrote:^^WTF?
Again a sexual harassment case in his next co too?
Re: Indian IT Industry
X post
Araceli Roiz pregnant with Paneesh Murthy's child, will sue him, her law firm says
http://m.timesofindia.com/tech/tech-new ... 217029.cms
Oh man... a gold digger
Araceli Roiz pregnant with Paneesh Murthy's child, will sue him, her law firm says
http://m.timesofindia.com/tech/tech-new ... 217029.cms
The release said that in his role as Roiz's supervisor, Murthy had insinuated himself into Roiz's personal life using the pretext of business necessity. "In this way, Mr Murthy was able to induce Ms Roiz into behaviour and action that she would have found unthinkable at the beginning of her employment," it said.
Oh man... a gold digger
Re: Indian IT Industry
sounds like there was a 3rd woman also - not sure what became of that lawsuit. maximovitch settled out of court for $3 million. most revered founder must have nearly had a heart attack writing that cheque out . such things are just not suuposed to happen or tolerate in jayanagar 
The attorneys in the firm previously represented Reka Maximovitch and Jennifer Griffith in sex harassment lawsuits against Murthy for his actions while employed at Infosys
The attorneys in the firm previously represented Reka Maximovitch and Jennifer Griffith in sex harassment lawsuits against Murthy for his actions while employed at Infosys
Re: Indian IT Industry
This seems to be interesting. So is that with the new rule H1B holders should be paid at least a level higher salary than the minimum wages? Most of the IT Majors (and Cols & Brigs) go for H1-B as a way to get work done at a lower cost. Will this change?rajsunder wrote:if this immigration reform comes for implementation, instead of level 1(which is the least prevailing wage), the employers are mandated to pay Level-2 on prevailing wages(which is slightly higher than level-1, for a programmer analyst about $10,000/anum more than level 1).
My understanding is that GC Holders can enter and stay put at US when ever they wish so. So is this idea of the US Govt. to retain talent? I mean Indian companies bring in people on H1-B, but the government gives these people a chance to remain in US (and contribute directly to the betterment of US)?Also this would increase the GC applications by companies such as TCS, WIPRO and Infosys.
Re: Indian IT Industry
IIRC, she was paid $800k by Phaneesh, out of court settlement onlee.Singha wrote:sounds like there was a 3rd woman also - not sure what became of that lawsuit. maximovitch settled out of court for $3 million. most revered founder must have nearly had a heart attack writing that cheque out . such things are just not suuposed to happen or tolerate in jayanagar
The attorneys in the firm previously represented Reka Maximovitch and Jennifer Griffith in sex harassment lawsuits against Murthy for his actions while employed at Infosys
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member_20292
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Re: Indian IT Industry
phaneesh murthy is gone.
with such public humiliation....his wife kids and all are going to desert him.
with such public humiliation....his wife kids and all are going to desert him.
Re: Indian IT Industry
Series B funding crunch for Indian ecommerce startups. Too much early stage funding activity not supported by later stage money.
Hopefully Flipkart and other big players will continue to thrive; they are responsible for making shopping in India a far better experience than it was a few years back.
Less than 15 out of 53 Venture Capital Backed E-commerce Companies in India Will Survive 2014
http://www.nextbigwhat.com/venture-capi ... -2013-297/
Hopefully Flipkart and other big players will continue to thrive; they are responsible for making shopping in India a far better experience than it was a few years back.
Less than 15 out of 53 Venture Capital Backed E-commerce Companies in India Will Survive 2014
http://www.nextbigwhat.com/venture-capi ... -2013-297/
Re: Indian IT Industry
Yes, BTW the prevailing wages are a joke. I know of intermediate passed out Quality Assurance folks who make more than that. But it kind of provides cushion for desi consulting firms when the market is bad.Sachin wrote: This seems to be interesting. So is that with the new rule H1B holders should be paid at least a level higher salary than the minimum wages? Most of the IT Majors (and Cols & Brigs) go for H1-B as a way to get work done at a lower cost. Will this change?
BTW most of the JAVA/.NET programmers who form the bulk of the H1b folks from INDIA already make more than stipulated wages. Consultants working with Desi small business consulting firms easily make 150-175% of the minimum prevailing wages, and my information is that our Indian MNC's are also planning to increase the salary for people(upto 100K for general Java/.NET folks who earlier used to make 75K max) they bring on h1's and L1's as with the changed environment in the rules and regulations(which are existing right now) retaining talent is one of the biggest problems when you bring them to US.
looks like uncle sam is worried about the loss in taxable income.Sachin wrote: My understanding is that GC Holders can enter and stay put at US when ever they wish so. So is this idea of the US Govt. to retain talent? I mean Indian companies bring in people on H1-B, but the government gives these people a chance to remain in US (and contribute directly to the betterment of US)?
Re: Indian IT Industry
Ungeel is driven totally by how much tax they can extract from every working person who is using the public infra - both man-made and god-given.
Last edited by Vayutuvan on 24 May 2013 22:31, edited 1 time in total.
Re: Indian IT Industry
How exactly? Dont H1-B holders also pay tax? Pardon my ignorance..rajsunder wrote:looks like uncle sam is worried about the loss in taxable income.
Re: Indian IT Industry
yes you are correct on that part, but the general perception is that Indian firms bring IT folks on H1 & L1 to USA so that they can have most of their work done off shore. And also they only bring them for a max of 3-6 years. US govt just wants to keep them here so that they can collect taxes for the life time.Sachin wrote:How exactly? Dont H1-B holders also pay tax? Pardon my ignorance..rajsunder wrote:looks like uncle sam is worried about the loss in taxable income.
Re: Indian IT Industry
There already was a minimum wage thing for H1...not sure about L1 transfers who stay on India payroll - these folks get abused more because they can't quit and join somewhere else without a new H1 applied.
Re: Indian IT Industry
H1Bs, if R2I permanently, can also ask for a refund of the SS payments during their stay. US certainly wants to keep all those well trained (with no cost to US) no-debt engineers in US. Since these people are in high-paying jobs and no education debt to repay, their disposable incomes are high. Their contribution to the economy are at a higher marginal rates. They are also well behaved to boot and adjust into US environment as a fish takes to water - with all their English and communication skills and all that. It is a win for US.rajsunder wrote:US govt just wants to keep them here so that they can collect taxes for the life time.Sachin wrote: How exactly? Dont H1-B holders also pay tax? Pardon my ignorance..
The difference between PIOs and other high income groups like Jewish is that the latter group have true dual citizenship (voting both in US and Israel) and also Israel is much smaller and has much larger per capita income than India. There are about 5 million Jewish in US which is comparable to the numbers living in Israel, the upshot being that it is possible to make difference in the home land.
Re: Indian IT Industry
I dont think you can get your SS tax back.
Re: Indian IT Industry
not the jaya i know.. she would rather take it and bear the pain than divorce. she will support him even if he is on the wrong side. but, then that was before the kids, and pre-infosys days. very little info of course... and this phucker has gone real crazy.Marten wrote:Only move he could make now is to file for divorce by mutual consent and sign over all his property to his wife and kids. Although, he is also obliged to ensure the unborn kid is also taken care of.
need GC->citizenship... it is like a trap set for you.KJoishy wrote:I dont think you can get your SS tax back.
Re: Indian IT Industry
that minimum wage is a joke. for example 56K in NYC for a programmer analyst(this is the level 1 wage, and is used by every company as minimum for filing H1-b) . They want to make it 66K with the new legislation.Gus wrote:There already was a minimum wage thing for H1...not sure about L1 transfers who stay on India payroll - these folks get abused more because they can't quit and join somewhere else without a new H1 applied.
Re: Indian IT Industry
that could change if Indian govt works with US govt to get the dual taxation agreement passed.KJoishy wrote:I dont think you can get your SS tax back.
Re: Indian IT Industry
I thought you can get SS tax back if you do not get a GC and move back to India on a permanent basis. You have to show the documentation. May be it was only rumour that it was going to happen and I toook it for it has already. Once one of my friends was saying (when I was getting all worked up about the US immigration babucrazy and saying that all the GC/citizens PIOs should make a representation to the powers that be) that once a person is out of the H1B-GC-Citizenship loop it is best to stop worrying about US Immigration altogether to keep ones sanity. Truer words have not been spoken.
Truer words have not been spoken.Re: Indian IT Industry
I would not think they will have any money left even for the gen x... unless massans starts printing couple of trillions again.
Re: Indian IT Industry
I heard this rumor when a TCS guy we hired gleefully told me this in 2008. I don't think it's been done yet, could be just wishful thinking.
The US Govt will never give up any way to tax people.
The US Govt will never give up any way to tax people.
Re: Indian IT Industry
INFY is doing the only thing it can - bringing back one of its two seniormost founders.
NR Narayana Murthy starts his second innings at Infosys
CNN-IBN | Updated Jun 01, 2013 at 03:07pm IST
Bangalore: In a bid to bring the IT company back on the high growth path, NR Narayana Murthy returned back as Executive Chairman and Additional Director on the Infosys Board on Saturday. Murthy's five-year tenure begins from June 1, 2013 and he called his return as the start of the second innings.
"This is in some sense like second innings because it's been seven years since I completed my executive responsibilities. When I came back here in an executive position, it is in some sense an exciting yet somewhat new challenge. This is an opportunity for me to add to the mission of Mr Shibulal (Managing Director and CEO of Infosys)," said Murthy while addressing the media with KV Kamath and Shibulal in Bangalore.
"I am very very thankful to everyone. standing here is very unusual for me, I did not in my wildest dream imagine that I will be back here therefore when Chairman KV Kamath met me and invited me to come back to add value to company I was in dilemma. And then I decided to to do things which excites me, I was fortunate to add value therefore this was an opportunity for me," added Murthy
"After discussing it with my family I decided as long as I have an opportunity in the manner which is most enjoyable to me it is not objectionable to me," he said.
The reshuffle also saw Murthy's son Rohan Murthy being appointed as his Executive Assistant. Murthy, who had earlier denied any possibility of passing the company's baton to his son, said the only role that Rohan has is to make him effective and he will have no leadership role.
KV Kamath, Board Chairman, has stepped down from his position and taken up the position of Lead Independent Director effective from June 1, 2013.
"Board has recognised that the industry and indeed the company is facing obstacles. Narayana Murthy will take the Chair of the Infosys board and lead the company through the next 5-years, said KV Kamath.
When asked about the company's strategy. Murthy said, "Infosys 3.0 strategy is led by Managing Director and CEO SD Shibulal. He has done extremely well. It is not fair to say that founder CEOs have not fared well. "
NR Narayana Murthy starts his second innings at Infosys
CNN-IBN | Updated Jun 01, 2013 at 03:07pm IST
Bangalore: In a bid to bring the IT company back on the high growth path, NR Narayana Murthy returned back as Executive Chairman and Additional Director on the Infosys Board on Saturday. Murthy's five-year tenure begins from June 1, 2013 and he called his return as the start of the second innings.
"This is in some sense like second innings because it's been seven years since I completed my executive responsibilities. When I came back here in an executive position, it is in some sense an exciting yet somewhat new challenge. This is an opportunity for me to add to the mission of Mr Shibulal (Managing Director and CEO of Infosys)," said Murthy while addressing the media with KV Kamath and Shibulal in Bangalore.
"I am very very thankful to everyone. standing here is very unusual for me, I did not in my wildest dream imagine that I will be back here therefore when Chairman KV Kamath met me and invited me to come back to add value to company I was in dilemma. And then I decided to to do things which excites me, I was fortunate to add value therefore this was an opportunity for me," added Murthy
"After discussing it with my family I decided as long as I have an opportunity in the manner which is most enjoyable to me it is not objectionable to me," he said.
The reshuffle also saw Murthy's son Rohan Murthy being appointed as his Executive Assistant. Murthy, who had earlier denied any possibility of passing the company's baton to his son, said the only role that Rohan has is to make him effective and he will have no leadership role.
KV Kamath, Board Chairman, has stepped down from his position and taken up the position of Lead Independent Director effective from June 1, 2013.
"Board has recognised that the industry and indeed the company is facing obstacles. Narayana Murthy will take the Chair of the Infosys board and lead the company through the next 5-years, said KV Kamath.
When asked about the company's strategy. Murthy said, "Infosys 3.0 strategy is led by Managing Director and CEO SD Shibulal. He has done extremely well. It is not fair to say that founder CEOs have not fared well. "