aug 20, 2006
http://www.economist.com/markets/indicators/displaystory.cfm?story_id=7282749
i am amazed at this statistic. this means there is every reason for top-level NRI managers to return to india, as they are now able to enjoy the highest real wages in the world, ie. around 80,000 euro, much better than in the US and *twice* as good as china. if you are not in mumbai you'd do even better. now we need to know what the definition of 'top manager' is. if they are only counting the top bankers in mumbai, well, we know they are overpaid, but if it much broader than that, this is an incredible -- literally! -- finding.
3 comments:
This is unsurprising and may be the first indication of a more serious problem -- the absolute shortage of top-drawer talent.
Which is forcing companies to raise their prices for top managers.
Which means that as indian companies grow, they may need to look beyond indian shores for talent.
If wages rise further, non-indians may actually occupy top posts in india.
indians may actually become second class citizens in their own nations, incapable and unqualified for top corporate posts.
Blame it on our License Raj in education that has strangulated supply development.
So indians may actually lose -- again -- not because we're not smart enough, or because of some "foreig hand" but because the government that runs the nation is too stupid (or downright evil) to protect indian interests.
ah shahryar, if you are making Euro 80,000 in india, the bureaucracy will kiss your ass.
and the infrastructure is not that much of an issue as you sally forth in your air conditioned car to the air conditioned aiport or to the air conditioned office. you also hire several underlings to run the generator (note a/c above), pay the bills, and stand in line for you.
it ain't that bad at all. just ask those white expats (like the journalists) who show up in india and live like bloody nawabs and then spit in india's face, as it were.
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