I think many people take for granted India's growth without looking under the covers. The IT boom has been great but an industry that employes just 4 million and generating 7% GDP cannot be good for the long term growth of the country.
Clearly there is a scary lack of innovation in India. The Indian educational system that is so lauded here is actually the barrier in my mind. It does not encourage a good understanding of economics and entrepreneur ship and is geared towards rote math and science learning. This is exactly why India could "execute" well on basic math and computer science chores. Most of the leaders that India produced in business had their higher education outside the country.
The importance of domestic growth and innovation is lost amidst the excitement to code or answer calls in american/british tongue. The downfall will not be because of wage arbitration going away but because we could not use this wage arbitrage while it existed to propel is in other areas. There are many smart businessmen/women in India and we need more and more of those types who step forward to build companies of lasting value.
Areas such as retail, agriculture, banking/finance, bio sciences need to promoted along with IT innovation in schools. The Indian mindset of IIT's, engineering or medicine needs to change to foster more entrepreneur ship across all fields.
Though this article is written in Forbes, it is a fairly amaterish article concentrating on just one aspect - the Cost differential.There are several points for and against the article
For
It is just not the cost differential that comes into play but also the exchange rate. This will pressurise the industry. It cannot be treated away with just one line
Against
The US or for that matter Europe does not have access to 1-2 Million educated Software engineers ( let alone ITES employees like Call Centers ). One generation of outsourcing have depleted these nations of precious resources. For e.g Oil Drilling ( and such knowledge ) has become extremely rare in the US. Almost the entire industry is to retire in the next 5 years or so.
Indian companies dont just supply bodies any more ( that was five years ago ). They do improve effectiveness and efficiencies with IT and business systems and give guaranteed productivity improvements.
They are also definitely going up the value chain by investing in R&D ( Wipro is the largest R&D Outsourcing third party vendor in the world)
Reality
Reality is that all these factors will induce a certain amount of realism in IT companies profit expectations. As happens in any industry, commodization will incur bring the profits down to an average of 15% ( good by any standards ) and this will mean decreased "NET" rates. The industry and the markets have to live with it.
Noticing the discussion between Dingbat and Pandey. I see the points though they can be debated in a civil language.
I am an engineer, started my career in IT and after MBA worked for Investment Banks and Hedge Funds. I just wanted to clarify for youngsters looking for career options.
I agree with Dingbat that pay potential is significantly higher for investment banking, trading, asset management and management consulting roles. In general, IT does not compare to these salaries, globally.
However, IT does offer significantly higher number of jobs and barriers to entry are significantly lower than the other career lines. IT, ITes and BPO played a significant role in Indian economy over past decade. No need to denigrate that business.
In general, I want to say that IT has been a good start for a career, I enjoyed the foundation it provided. There are further heights that can be scaled, such as 1. Investment Banking 2. Trading 3. Asset Management 4. Financial Engg (Quant) 5. Equity/FixedIncome Research 6. Management Consulting 7. Sales / Marketing Mgmt
RE:Truth about IT, Banking, Trading and other career lines
by Vishnu Varma on Mar 04, 2008 03:57 AM
I thought I should also add that, in my experience.. If you choose a career because you appreciate the kind of intellectual stimulation it offers (instead of money), you will certainly work much harder at it, and have a better chance of becoming successful at it. Money eventually chases a successful man. Do keep in mind the money earning potential, as it is important, but also keep in mind what makes you tick. After my first marketing class taught by a well-regarded professor failed to inspire me, I decided no matter what the earning potential is I cant motivate myself towards that career.
For people who are thinking that investment bankers and traders cant get jobs in top technology companies like Cisco and Microsoft, that is not true. The banking, trading and management consulting jobs that Mr. Dingbat is alluding to, are only available after an undergrad degree, some experience and an MBA from a premier institute (top-40 in the world, IIMs included). The guys who fit this profile are welcome in most technology companies.
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 04:07 AM
All the best guys in an IIM(even those with engineering background) put investment banking and consulting at the top cos of its money power...IIM grads chase money, never do they follow their heart...
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 04:25 AM
Vishnu, It is obvious that you were an IIM topper....also accept that the rejects of an IIM system are the ones who end up in IT....
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:12 AM
Dingbat, Duffer, I tried to explain you so many times I even gave you example of Sabeer Bhatia and GuruRajDeshpande who are in IT graduates of IIT not IIM, but ur feeble mind cannot understand things, all you could come up was name of few non Indians in Banking who earn high
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:28 AM
Idiot pe^abrain, Sabeer Bhatia and Gururaj are outliers in an industry where the average professional is not a patch on a banker or a consultant or an investment banker...learn to live with these facts you idiot!
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:05 AM
Your words echoe what i think about you.....your qual.boasted in this net might just be a means to live off your fantasy in a faceless blog...people know who the idiot out here is....got it idiot??
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:33 AM
Dingbat, Duffer what percentage of banking, insurance people come from IIM. very minute so stop using IIM , or else dont whine when i gave example of sabeer Bhatia and other tech guy, if u just compare average IT guy who is from average engineering college with average guy of some commerce background in banking, the guy in IT definitly earn more and has better opportunity
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:03 AM
Digbant, Duffer talking about your education, you would since you hardly have one what will you say, ofcourse you can exaggerate in net , but people will know that, judging your IQ
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:03 AM
Bankers count money??? Hahaha, LOL.....you really a third grade retarded ju^rrasic peabrain...idiot, bankers do a hundred jobs and do them well, idiots like you don't look beyond the cashier at the counter, LOL Real idiot!!
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:39 AM
Moron, You give a few examples of super successful people and compare them to the commoners like an idiot....I compare IIM grds in IT to IIM grads in banking and the disparity is huge...got it idiot??
Also, many guys in IT have an MS or some PG and even those don't compare with banking guys, idiot..
Idiot, first learn to understand nominal and real conversion rates before comparing US salaries to indian salries of IIM grads...
Idiot, IIM grads don't have to commute from Jersey to come to NY.....when they are put up in Bombay, they can stay in south ombay, not some distant suburb, got it idiot??
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:45 AM
Digbant Duffer I can see your high general knowledge, IT industry is in silicon valley, California which is very nicely designed area, duffer and you talk about mumbai, duffer go and see crowd of local train of mumbai than talk, and how many people can afford in south mumbai, I am sure banking or insurance jobs are not paying in crores to freshers that they can afford south mumbai. Duffer I asked you stop using IIM , what percentage of people in banking etc come from IIM, Am i using MIT, graduate in my reply for comparing, i just used average guy in IT with average in banking
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:47 AM
Digbant, Duffer you say 60 percent in banking comes from IIM, duffer look at your pathetic general knowledge duffer there are only 6 IIM not 1000 of IIM,
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:10 AM
Digbant, Duffer even if I leave USA part from IT just for sake of argument IT guys in India are in much better condition, than guys working in banking, insurance.
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:01 AM
Digbant Duffer, I am sure you have failed miserably in science subject, and than having falied to go in science you were forced to go in arts or commerce and do some shitty job in bank counting money like illiterate
RE:RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:12 AM
Digbant, Duffer, you are really jealous of IT otherwise why would you start your first post with word like coolie, remember it was you who started post, I came long after you in this post
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:15 AM
You are an idiot....i was trying to bring facts forward....it seems many youngsters have been misled into thinking that IT is the most lucrative after a G(forget PG), it is idiots like you who start this by deriding other sectors like eng, aviation etc... And same logic can be used for you, that you jealous of banking otherwise why would you call them baniyas?
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:19 AM
Dingbat, Duffer I called them Baniya, because you started all bad words like coolie I replied in your kind of words it was meant for you idiot. now you know that you should not use bad words for other profession, it was you who first wrote coolie mine was reply to your post
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:23 AM
Idiot, I made general comments so they appicable to IT guys as a whole...I will continue using bad words for IT cos even if you are different(say for eg. that you DON'T deride any other sector), that still does not change the fact that most IT guys have an exaggerated sense of self importance and are also poseurs....the sector bosses themselves are poseurs so what about people at lower levels?
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:27 AM
Digbant, First you use bad words for IT and somebody replies in your kind of words than you come complaining, shame and you, if you cannot earn like IT guy than go and commit suicide you are fit for that, stop whinning
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:41 PM
Most of the international placements across top rung and second rung B schools last year were in banking and consulting, so IIM grads and 2nd rung B school products get a chance to earn in dollars where the quantum of dollars is much higher and the worek profiles are more glamorous and challenging...
RE:Truth about IT, Banking, Trading and other career lines
by Indian on Mar 04, 2008 10:06 PM
Amit Pandey, You are misquoting cos you don't know nething, i have been in Infy for 7 years so i know it much better than you! It is 55K for 3 years work ex, in TCS is it even lower! And compare that to IIM salaries which touched 250K in dollars(international placements)
Also, as Dingbat pointed out, why do IT pros take CAT in droves every year? i know some guys who have taken CAT 5 times! so desp they are!
RE:RE:Truth about IT, Banking, Trading and other career lines
by Indian on Mar 04, 2008 10:09 PM
No MR Pandey, it is not possible to earn 100K in 2 years in IT if you take the median IT guy...some exceptional guys may be earning but some exceptional investment bankers earn upto 400K in Wall street, do you know that?
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:33 AM
Agree with you......i cannot earn like IT guys, even if i stoop to a very low level of work performance, i would not be able to earn so less....idiot, get a life and stop responding like a demented idiot.....
And dunno show off your qual.in a faceless public blog, ya, there are di^mwits like you who from Princeton and Harward in this blog.....hehehehe!! And pls do commit suicide not cos you are an irritating guy but due to the appaling lack of knowledge and poor coping skills....learn to cope with the fact that you are in a sector that pays very very average... And stop being a lame a^ss loser....if you can't switch sectors, learn to brave it instead of yapping and being spiteful and jealous of lucrative sectors...
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:20 AM
The people in Nortel, cisco are not code co&olies like you.....they are in product management etc...not low end co^olies like you...learn to respect facts...if you can't shut your trap and don't go on a tangent..
the fact is that successful bankers are so far ahead in lifestyle and pay packets compared to IT guys, that it is ridiculous...
If you don't know how much bankers in Indiaafter a b school degree earn, better to shut your mouth...don't show your ignorance here...
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:07 AM
Bhashmashuraji, Infy and all are paying 70k in silicon valley, maybe 60 -65k in other state, but since california is expensive they do pay, however I have seen some company like Satyam paying 60-65 for QA jobs even if client is google, Mountain view Take care, Amit
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:47 AM
Digbant, talking about tab of salary of MS, US B school, duffer if people from infy can get 70k dollar package for offshore project in california than those who have master degree do earn 100k , understand duffer
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:49 AM
You have obviously lost the plot hence you make statements like "commerce guys fight for 500", feel sorry for an idiot like you.....really need to get a life....
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:43 PM
So, mext time learn to respect facts and not some wrong facts like 3 years in IT and 100k, LOL....BDM managers in TCS barely earn 100K...LOL! think, think before you speak!
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:30 AM
duffer gold man etc wont pay 230k for moron, dont quote salary of American MBA, plus duffer talking of IIM , i am sure you got poor marks in science ,failed in maths was forced to study some crap course and doing some shitty work in some bank.
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:28 AM
70K is average in silicon valley for people with average work ex which comes to be 3.8 years in an Infy onsite, right idiot??
So, that is not applicable to freshers....idiot, don't think i dunno about IT just cos i'am not in IT...i have many friends in TCS and they all crib about poor onsite allowances....till some time back, most only got allowances....
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 07:58 AM
Idiot, I have participated in many Chat forums in various fields inclusing MBA forums, foreign MBA, cricket, food and culinary and lots of others....so i know the psychology of a blogger very well....i know when a guy is bruised and when he is really hurt...
You are hurt cos most of what i have said has rammed home straight and is too close to your reality...
So, idiot, stop cr^apping and face the truth....i also know very well that you are cr^apping about your US feat...idiot...i have seen too many chatrooms to know who is genuine and who is fakuuu..so idiot, get a life...idiot...i know many guys in the US doing MS/working and none of them are as dumb and juvenile as you are...idiot..i have seen too many guys to not identify you as a real retard and a moron...
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 08:38 PM
Indian, I was passing by this forum and saw some crap remark vy Digbant where he mentioned IT people as coolie and all this talk started between me and idiot Digbant where I tried to make him understand that IT work requires lot of analytical skills and one should go by interest not money, if one has right interest he can make money , but if you see IT field compared to all other field even if you have Bachlor degree from average engineering college you can still make good money which is not possible in other area, where you need to be among top 0.1 percent to earn high, but in IT bulk of H1B and L1 visa are being given to IT not banking or insurnace, they get opportunity to work in dollars, save substantial money, there are quarter million to half million Indian in IT in USA itself,that opportunity is not available to banking, or others, since there is no dearth of people in these sectors in USA, compared to science related field
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:59 PM
Indian, I was arguing with Digbant regarding opportunity in IT versus non IT , I showed you it is possible to earn 100K in IT with bachlor degree , every year thousands of people leave Indian IT company and join american company to earn high salary, my argument with Digbant was based on opportunity in IT versus banking etc, not some infy guy, by the way you are outdated in information people workingi in silicon vally in infy do get 70k, thats average for silicon valley for Indian IT
RE:Truth about IT, Banking, Trading and other career lines
by Bhashmashura(The real one) on Mar 04, 2008 08:21 AM
Mr Amitji Pandey, Where do you get this statistics? 70K in IT for onsite?? You must be kidding sonny! It used to be 28K till 3 years back, now they have taken it to around 40K which is taxed! Kya baat karte hon? Kuch bhi!!
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:42 AM
This is for you, ytou idiot....the percent of foreign placements at IIM campuses last year more than 30% with an average salary of more than 160K, hahaha, idiot, now go and hide your twisted jealous face....i can see you squirming with jealousy and envy.....hehehehe!! and if you don't belive me, catch the dition of March BT in 2007 and you will know what i'am saying, you troll!!
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:37 AM
Digbant, I am sure I get 5-6 times more than what you get earn , idiot duffer go you said IIM guy get 16 lakh and IT get 6 , even if i consider you get 16 I started my career with salary which is 3 times 16 lakh , duffer go and hide your ugly face
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:52 AM
Idiot, It is plain and simple...the average IT code co^olie is not good enough to tie the shoelaces of an IIM grad....that explains the droves in which Infy guys rush to the nearest CAT centre in Bangalore.....though most are not benched code co^olies like you, loser!!
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 10:13 AM
digbant, duffer I told you long back I did Masters here, and work directly in companies over here, not through Indian company. Still those coming from Indian company do lots of good work in silicon valley, Microsoft, google, Cisco, yahoo all give portion of their work to Indian companies who do good work , by calling them coolie you are showing how mentally sick you are. Indians in IT are praised by all countries all big people Bill gates and all have praised contribution of Indians in IT both in service sector and product development, they dont certificate from third class person like you. I am closing all discussion as idiot like you are unable to understand these stuff.
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 08:59 AM
Dingbat, you have lost in forum, duffer, it was you who starting comparing IIM PG with graduate of IT duffer, first look at your own words,
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:49 PM
Digbant, I was saying 100k dollar, there are thousands of instances of IT people coming to usa on onsite project and jumping to some American company and getting 100k Dollar and remember 90 percent of h1b and L1 visa goes to IT job not banking, so stop giving example of IIM etc.
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:36 AM
Demented jur^rasic peabrain, I'am quoting Indian salaries...230K in dollars was the salaries paid on IIM campuses....ignorant fool, just check out the placements at the IIM sites...then you will get a reality check, you duffer....idiot!!
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 08:05 AM
Digbant,
Duffer ok, even If i dont compare PG to PG, take guy from infy, tcs, who is graduate from Indian university, once he is sent for assignment for clients in usa, he get 70k dollar, here in usa purchasing power is very high for dollar, it is possible to save atleast 2000-3000 dollar per month, depsite maintaining car, eating out, paying insurance etc. saving which is higher than what average banking people earn in india, now it is rare to see Indians in banking in usa etc, since there is abundant americans in job not related to IT so, Indians dont get work visa in that, unless Greencard or citizen, only in IT since they dont have people studying science. duffer learn to analyze properly dont compare earning of banking of usa bank, since Indian wont get chance to work especially with Indian degree, but in IT people do get 70k dollar with Indian degree
RE:Truth about IT, Banking, Trading and other career lines
by Indian on Mar 04, 2008 08:08 PM
Amit Pandey, Even though i agree with you that Mr Dingbat(god knows what that means though) has been rude, most of what he has said rings true!!
I have worked in Infomation technology in Infy for 7 years and most of it is true, that the only USP is the US, the jobs are very low end and the salaries are just indexed to 4% above average inflation, which means it is never more than 10% YOY. And the fact that IIM salaries go thru the roof is also fact! the average salary at IIMs this year is expected to touch 30 lakhs, even if you ignore the US scene, in India, no IT company can come close to this salaries! Sorry if i have butted in, just stumbled on this blog and thought i will share my knowledge!
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:10 AM
Digbant , It is rare to get h1b in finance or banking, all they get is b1 in which you cannot file greencard, also unlike IT there is no dearth of people in these fields, so they have plenty of local Americans to choose rather than pay 3000 dollar for h1 processing to get someone from far
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:31 AM
Idiot, You are just a troll...you keep on repeating the same stuff cos you are an ign&oramu^s....fool...who has given you the impression that IIM grads don't get 70K???
Some of the international salaries exceeeded 200K last year!! fool, if you don't know facts, don't yap...moron!!
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 10:03 PM
Amit Pandey, You just repeating stuff like a troll...here average in silicon valley does not equate to average for freshers...it is people with 2 years of work ex...even in Indian IT companies, the average work ex is more than a year before onsite posting....also some outliers like Veritas, some startups bloat it up...so you not factual...
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 08:11 AM
You are once again talking like an idiot.....and not honoring facts...most foreign placements at IIMs(i know IIM gives you an inferiority complex cos you could not clear CAT) last year were in investment banking, consulting, some in IT and many in Ops....so get this stupid notion out of your head that indians don't get visa for fields in which americans compete...problem is that idiot like you is trying to convince himself that not clearing CAT has not hurt your career.....duffer, it has hurt your career and i;am hurting you where it hurts the most...hope you don't commit suicide.....
And don't quote all these crap figures...whoever told you that a fresh grad goes on an assignment and gets 70K in US?? it is not a fact...it is much less...i have friends in TCS...
So, cut this idiotic thought that Indians in finance and consulting don't get visas...many of them do...
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:34 AM
Haha, typical response from a third grade low end benched code co^olie.....az^zhole, you are the biggest ig^nor^amus...uneducated duffer, idiiots like you abound in the thousands...ri^ff raff sc^um with no exit options and yapping like a demented third class di^mwit....you are like piece of sh%it that rots sitting in one place...loser with a big L, haha!!
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:56 PM
We are comparing individual to individual so don't bring in numbers here and don't disrgard facts....we are comparing an IIM grad or a top B school guy and an IT guy and when it comes to international placements in consulting or banking, we are talking of 150 to 200K, and IT onsite does not get you even 25% in most cases of the above... Don't make irrlevent comments as to how many guys are IIM grads?> we are not talking about the capacity for job creation, we are talking about who is superior and the B school grad is far superior in terms of pay to the IT guy even when he in India, forget when he gets Us posting...
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 07:48 AM
Idiot, You are not honoring facts...PG to PG comparision.....no point in comparing grads in India to grads in US cos the scene there is different for gards..
Idiot, bankers in top foreign banks earn upto 60 lakhs per annum in 4 to 5 years....in real conversion rates, that works out to $500000 per annum...approx...even in nominal terms it works out to a healthy $ 150K...so just cut the crap about IT guys earning more in the US than bankers in top positions...
Also, if an IT guy has to save dollars, he has to live well within his means..
The problem is that uneducated idiots like you talk only in term sof nominal conversions and multiply 100 dollars by it and show it as 4000 odd buks...that is stupidity...
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:26 AM
Dingbant, duffer, I am taking about 70k dollar which you dont get after doing MBA, duffer you urself admitted that IIM graduate get 16 lakh now IT guy earning 70k dollar is much better. but illiterate like you wont understand anddont give false quote like 40k etc, and taking about cisco nortel, duffer, Indian companies like Infy do send their guy to work in these companies since they are client of Indian companies, if you dont know these facts than dont argue duffer idiot moron, go to silicon valley you would see many Indians working in them through Indian companies, duffer knows nothing but will open his mouth.
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:26 AM
You are quoting names of big US companies....lemme quote the pay packets of major banks..
Merrill paid more than 250K, G Sachs paid more than 230K, UBS, Mckinsey all made offers exceeding 200K...where do your IT companies compare?? Idiot, stop living in a fools paradise, idiot, learn to accept that you are an insignificant guy compared to many of these guys..
Btw, the average salary at IIMs last year was 17, the peak was well over 30K...
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:43 AM
Hahahaha, I have you all stirred up and now you have lost it.....an individual who boasts about his qual and his salary in a faceless public blog, an individual who draws conclusions about another blogger without knowing nething...what can you say except to say that he is an idiot??
You have proved that you are a real idiot....i don't need to call you by that name nemore...
As far as your salary is concerned, it is obviously a big bloated lie cos i keep tabs on all salaries in all US B schools as well as MS courses...so now your tun to hide your twisted contorted face and jump in a lake....
One more advice, learn to educate yourself about nominal and real conversion rates...you won't make a fool of yourself in this manner again!!
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:34 PM
Digbant, compare your banking field to IT, you people rarly get chance to earn in dollars and live in developed country. So think before you say, your field is not good compared to IT where even guy with 3 years experience can earn 100k dollar that too with Bachlor degree
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:15 AM
Digbant, you might give me some figure of IIM people going to usa, but that number is very less compared to IT, whether you except or not, it is a fact once IT guy is onshore he earns more than you people and he can save substantial despite living comfortably , if you cannot accept the fact it is your problem, but dont tell me how much you know etc of usa, salary etc, I am here for more than 5 years, I know more about salaries here, no point arguing you if dont know facts and just utter some rubbish,
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:53 PM
Digbant, First check facts, what percentage of H1b and L1 visa given by USA goes to IT and what to non IT, you can check in wikipedia. so stop saying that bulk of B school grads earn in dollar it must be very very few compared to quarter million IT people in usa from India
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:23 AM
Now you are quoting soem companies and data that is questionable at best...the fact is that many IT guys in India are desperate to take and Clear CAT...if IT in the US were so lucrative, there would not a mad crtaze to clear CAT.....almost all of them can get h1 visas and land in US..but they all wanna enter top B school and then switch sectors.,.....more than 80% switch to banking even if they have 2 years of IT exp...that is cos of banking being far more lucrative...
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 07:37 AM
Dingbat, If you keep tab on USA salary ,than you should have known that simple engineering graduated in USA from Indian IT company earn way high than your banking people, now bulk of those coming in h1b or L1 visa are in IT so USA is integral part, so I have to bring that whether you like it or not, once in USA your indian salary of banks cannot match those of Indian in USA
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:17 AM
Lost in forum?? Hahaha, idiot, every argument of yours has been shred to pieces...
One more argument of yours does not hold ground and you are under water....the average for fresh grads in Infy/TCS is NOT 70K for onsite...it is closer to 40k for Tata and around 50K for infy...
MBA from top rung B school with 2 years of exp. in IT is getting around 70K....that is a fact!!
So, you know who is the idiot and the retard here...
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:03 AM
Digbant and others, 70k is average for infy ,tcs working in silicon valley, if you do not know the facts dont argue, I know people in apple, cisco, nortel working from Indian company, if you directly join these client you earn 100k. Digbant duffer I know you are jealous since you cannot qualify of h1b because of your pathetic job and skill, so dont bend the facts
RE:Truth about IT, Banking, Trading and other career lines
by Indian on Mar 04, 2008 09:53 PM
Amit Pandey, You are completely disregarding facts, when we talk about body shpping, we talk of Indian IT companies, so be relevant instead of talking some US IT company. 3 years into IT and 100K to grads is as illinformed as it can be! Who are you trying to fool? 3 years into Infy and people get 55K for onsite posting. pls give us a break!
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 10:13 PM
Amit, You proudly said that you are now starting a new day about 4 hours ago.... But you on the net all the time, so is it low end job? It can't be managerial cos you would not have breathing time...
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 09:58 PM
Thats what i said, he is just repeating factually incorrect stuff like a troll...
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 10:00 PM
90% might be IT guys but most are low end jobs so salaries don't rise much..on the other hand, when consulting or banking guys go to US, they earn much more and thus thousands of IT guys in Infy Bangalore take CAT at nearest centre in Bangalore, LOL!
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:40 AM
Significant percent in banking, consulting come from IIMS(60% in some cases), i respect facts, not an idiot like you to yap without any basis.....got it idiot??
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:54 AM
Idiot, i pity you....60% coming from IIMS means that 60% B school grads come from IIMs in some cases...real demented pe^a brained idiot maan....
And it seems the IIM name reminds you of the fact that you failed to clear CAT after 10 attempts...what more can i expect of an idiot?? Hehe..
And talking about an insti does not mean that you are founder...are you founder of IT, you idiot??
so, idiot learn to accept that you are an inferior idiot and move on...
RE:RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:56 AM
As i said before idiot, the only USP is the carrot of the US, idiot and i did not speak about my qual or background,. you did and you making a fool of yourself with your di^mwit comments and utter lack of knowledge...the more you yap lik idiot, the more you look like a fool...
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:50 AM
Dingbat, Duffer, moron , idiot feel sorry for you, brining IIM everytime as if you founded IIM,seems like you r jealous of earning of your frinds who are in IT, you cannot compete with them in money , you dont get opportunity to go abroad
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:01 AM
The biggest idiot is the person who admits that he is an idiot....LOL! You said that a person who derides another profession is an idiot...calling bankers baniy et al is deriding them...by your own defn, you are an idiot, LOL!! Need i say more?? Idiot!!
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:30 AM
Digbant duffer read what others say Hi Dingbat,
I understand that you are from a diffrent sector and may not know the ins and outs of IT (sorry if I am wrong). IT in some cases may out perform other sectors because of the onsite opportunity (resource working at client site) where they earn in foreign currency and a fresher (graduate) may earn a very handsome remuneration. I am aware about Sales/Marketing/Finance/Marketing industry and do agree that they are doing very well and evergreen jobs of Sales/Marketing will always will. All IT industry has also built through Sales/Marketing isnt it? Look at it this way, I have come across a lot of IT people coming from remote cities of India experiencing their first flight experience on an International flight. Look at what difference they will make when they visit their hometowns, their experiences, their exposure to different cultures, working in developed economies and the foreign currency will go back to those towns. I believe this has certainly proved to be a positive impact, lot of people invite their parents to join them abroad. Again, how many could dream that they would get an opportunity to travel out of India? I am not saying that everything is great about IT or paint a rosy picture. The intention to have a holistic view. Every industry has its own part of challenges and IT is not very differen
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 06:08 AM
Jealous of IT guys,?? Hahaha...yes i'am really jealous of guys who think that bankers count money and also jealous of guys who think that banking is dependent on IT, hahahahaha, LOL..
You are such an idiot that you need a brain check, you fool....
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 06:06 AM
Dingbat, duffer feel pity for you, I am sure you are frustrated guy jealous of earning of IT guy, living a pathetic life, really feels sorry for you
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:51 AM
Idiot, It is you who is starved or knowledge...just cos the centre of IT is in cali does not mean that all IT is in Cali, real retared idiot...
Idiot,one more stupid comment from you... Most IIM grads in Mumbai stay in south Mumbai cos they can afford it, got it idiot...and you stop yapping like an idiot and come out with something logical for a change....
You have made many idiotic comments.....IT guys in US stay togetther like a herd of go^ats in some cases, B school grads don't have to do tha...and idiot, we are comparing bankers to IT gusy and most bankers are IIM grads, got it idiot??
RE:RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:15 AM
Dingbat, Duffer it is known fact that people in IT made huge money in very short period of time , because they came up with ideas like google, hotmail, skype etc, duffer can you give me any exmaple in banking ur IIM(looks like you are founder of IIM) talk logically mr Dingbat. "IIM grads chase money" duffer I believe there are many IIM grads doing things in which they are interested like Harsha Bhogle in cricket. Duffer dont try to generalize stuff
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:35 AM
Idiot, I compared salary of PGs across sectors and there IT suffers in comparisiosn to banking, consulting...learn to comprehend what others write instead of repeating stuff like an idiot...
Idiot, even among grads, IT is no longer a paymaster so that is what i pointed out, got it idiot??
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:29 AM
Dingbat Duffer, it was you who came up with ideas like comparing salary of IIM graduate with IT salary. duffer talk logically, if you just want to compare salary compare salary of guy in banking etc with guy in IT with who have been studied in similar kind of institute and in same age range
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:24 AM
Peabrain, Your comments here prove who is the mental retard...i'am sure an uneducated lo^ut like you does not even open the newspapers....none of your statements are based on facts and yet you yap like a fool..
Retard, a few people minting money are called outliers....it is really retarded on your part to compare a few top notch guys with thousands of co^olies in It sector, you are a good example of a useless co^olie...
"IIM grads chase money' is not a generalization cos most do...there will be a few outliers but you idiot but it is beyond you..
Learn to talk in a logical manner instead of making some mo^nkey noises like an idiot...if you had coherent arguments you would not have got so stirred like an idiot...
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 03:53 AM
Good!! Atleast someone here knows his facts well...nice to see that!!
RE:Truth about IT, Banking, Trading and other career lines
by Vinay Bhanushali on Mar 04, 2008 04:08 AM
Hi Dingbat,
I understand that you are from a diffrent sector and may not know the ins and outs of IT (sorry if I am wrong). IT in some cases may out perform other sectors because of the onsite opportunity (resource working at client site) where they earn in foreign currency and a fresher (graduate) may earn a very handsome remuneration. I am aware about Sales/Marketing/Finance/Marketing industry and do agree that they are doing very well and evergreen jobs of Sales/Marketing will always will. All IT industry has also built through Sales/Marketing isnt it? Look at it this way, I have come across a lot of IT people coming from remote cities of India experiencing their first flight experience on an International flight. Look at what difference they will make when they visit their hometowns, their experiences, their exposure to different cultures, working in developed economies and the foreign currency will go back to those towns. I believe this has certainly proved to be a positive impact, lot of people invite their parents to join them abroad. Again, how many could dream that they would get an opportunity to travel out of India? I am not saying that everything is great about IT or paint a rosy picture. The intention to have a holistic view. Every industry has its own part of challenges and IT is not very different.
RE:Truth about IT, Banking, Trading and other career lines
by Vishnu Varma on Mar 04, 2008 04:19 AM
Of course, it has its good points. But it seems like there are quite a few people who think that it is the best career option there is. That is an incorrect assumption that Mr. Dingbat is trying to eliminate by providing some shock treatment :)
I am surprised that Mr. Pandey holds the same assumption after working in USA for a while (according to his description). If a well travelled graduate is assuming that, what chance does a youngster forming a dream about what to do in life? We have to just bring the facts forward. IT career is a good career, not the greatest, by any means.
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 05:22 AM
Well, dont take any offence , when i was reading this article , i saw comment by digbant where he said IT people are coolie, chaprasi etc, I tied to make him understand that there are many good people in IT and IT is a good career option, ofcourse your interest should come first. It all started because of post which Digbant wrote first where he called IT has coolie, nothing against you or anyone except Digbant who is idiot to deride other profession, all replies were meant for him. There might be other field with good career option maybe better than IT but to deride some other field is bad, which Digbant did, i was just replying to his foolish ideas
RE:Truth about IT, Banking, Trading and other career lines
by Dingbat on Mar 04, 2008 05:32 AM
Exactly, people who deride other professions are idiots....you admit that you are an idiot...i never derided IT, i stated facts though harshly... It is IT guys who have an exaggerated sense of self importance...some of your comments were laughable(Banking will collapse if IT falls), haha, this statement can only be made by a very idiotic person.... No takers for cards if IT falls...haha another di^mwit comment...you seriously need to get a life and a reality check you retarded idiot!!
It is IT guys who look down on other professions like engineering or BPO....time to call your bluff, you idiot!!
RE:Truth about IT, Banking, Trading and other career lines
by Vinay Bhanushali on Mar 04, 2008 04:37 AM
Best career option, isnt't it something very difficult to arrive at, having come to good terms with a UK client I asked "What does your son do?" He said he is doing some course in arts at a university in London (some course I never heard of) and my immediate question was what job he will get when he completes his education? He said, he didnt knew, because the course he is currently undertaking to educate himself in something that he likes not necessarily that it offers better job prospects. This is a very different point of view which atleast I never thought of. "Best career option" is very relative, does it mean the best paying job, best job satisfaction, doing what you like, what? It may be different to different people, there cannot be a single career option that everyone will prefer. IT may have been the easier option to earn good money, which has been driven purely because of demand. This is no different than any under industry with demand and supply mismatch. Going back to the original article, in my opinion the author has touched a sensitive issue by naming the article as "Death of IT Industry", I think it would have been more appropriate to relate the title to the Change in IT industry etc.
My reasoning behind this is, the IT industry is still far from being mature, we are learning as we go. Would you term the recent turmoil in Indian Stock Market as "Death of Indian Stock Market" just because the markets are diving south? Like IT, Indian Stock Market is also evolv
RE:Truth about IT, Banking, Trading and other career lines
by amit pandey on Mar 04, 2008 09:16 PM
Digbant, duffer if you cannot win argument duffer you are reporting my message duffer look who is whining,
Their vision, their entrepreneurial zeal is unmatched...the products that SAP and Oracle have come out with have not been matched by any IT major in India... Siebel, SAP, Oracle, Baan, peoplesoft(HR) are US guys, which Indian company is there??
RE:Bill Gates, Larry Ellison are people in a different league...
by Nanda Kumar on Mar 04, 2008 10:26 AM
How about Infosys "Finnacle" and IFLEX'S Flexicube which was taken over by Oracle, by the way who gave u the idea all that whatever Oracle and SAP'S is thiers!!!!
They have developed some base technolgies and have built on that by acquiring companies Oracle aquired Peoplesoft,JD Edwards,Hyperion to name a few!!, MS has also acquired many companies..., Baan has been taken over 5 times and it was never a US company in the ist place nor is SAP.
RE:Bill Gates, Larry Ellison are people in a different league...
by Vishnu Varma on Mar 04, 2008 04:07 AM
Mr. Mittal and Mr. Ambani are a couple of Indian examples for the zeal that you were referring to. In technology probably the I2 Technologies guy.
I worked for a premium indian IT company in early 90's (still hold the stock) and am disappointed that they are still not looking at product innovation. I agree that services made them what they are, but atleast as a risk mitigation measure, they should venture out a little.
Even if there is death of Indian outsourcing (which is unlikely atleast for a decade) there is no need to worry.
See countries like U.K, America, France, Germany and other developed countries. These country's economies don't depend only on outsourcing to grow, they have many other industries and services through which their economies grow and people enjoy a good life by getting good jobs.
Similarly after the Outsourcing boom dies down in India, we will find other industries or other IT services through which people would still lead comfortable life's and get good job's and India's economy would definitely grow.
We don't need people who are pessimistic and try to scare people by writing these kind of articles, may be they didn't have anything else to do or they wanted to get more publicity by writing such kinds of articles.
RE:Dont' make Indians panic just for the sake of writing some article
by on Mar 04, 2008 03:37 AM
Mr Salman, You are right and I wishfully think every one else will be on boat with us, Its the positive thinking that leads us all to our destinations. Well before outsourcing I beleive we did lead fruitful and happier lives and we will counter those who do their hedging across the Globe have to come to for scale and scope.. 2015 --- India - 1.2 Billion Ave Age: 25 years. 2015 --- USA - 368 Million Ave Age: 45..
Figure out ! Where the Dialysis machines, Oxygen cylinder makers have to market !!!!!
RE:Dont' make Indians panic just for the sake of writing some article
by Nikhil Shah on Mar 04, 2008 04:09 AM
Agreed there is no need to be negative or push the panic button.
But have you ever has a basic question about the lack of innovation in India. Why did we take a jump directly in the information age and skipped the industrial revolution?
Most of the major rudimentary inventions like padlocks, sewing machines and hand guns originated in the west.
What is the thought process involved in these innovations?
indian capitalist who are earning billion are not paying the taxes are puting whole their profit in property and share dealing, the corrupt govt are letting them enjoy the tax free privelega,, only 2% of indian people are creating problems for rest of socialty,,greedy and politician, bureacrats nexus are inflating the property prizes and creating artifician greed with inflamating, sexy and greedy picture by media,, have liberation and more oursourcing bring any change in adivasi s c st and poor villager,, they are still struggling with both ends, meet, only sex, glamourism by media have let loose the addiction of liqour, gambling and sex,,,more farmer are commiting suicidenow than before under property boom,,,, why are our socalled leader have answer, congress is going to lose power with heavy lose,,,
RE:take lession from chines, polit bureau is right
by Bhupinder Singh on Mar 04, 2008 03:25 AM
there is not salary increase for hotel worker in delhi,,big cities,, they are worse , there is not proper accomodation, transport is geting every expensive and rent are skyrocketing,,it will lead to more violence, pickpocketing ,prostitution and lawlessness,
While it is true that internationally the Indian rupee is becoming stronger (especially against dollar), it is also true that internally inside India rupee is becoming weaker due to inflation (rise in prices). What this means is that while the goods that we import from outside (ex: electronic goods, petroleum) will be cheaper because of a stronger rupee, things that we manufacture inside India are becoming costlier (ex: food crops, real estate etc) due to inflation.
So where does the benefits of a stronger rupee lie? The common man of India doesnt rely on imported goods. All the basic commodities like food grains,milk,vegetables etc are produced/manufactured within India and not imported (except for petroleum products). Hence it is the inflation that matters more to common man than the international value of the rupee. The common man on the streets of India is not interested in whether an i-pod costs less or not, but it does matter when a kilo of tomato costs more.
Another important thing that we need to do (which many do not realize at all!), is to take advantage of our great population of 1 billion plus, which is 1/6 of humanity. What a great market for any kind of business on this planet with over 60% of the population being less than 25 years old! If we succeed in creating a vibrant economy within India, we can remove a lot of dependency on exports and foreign investments. A stronger economy and a large market within India would mean that our companies would find it more profitable to sell cars and mobiles inside India than to export them, same about IT services too!
To control the rising value of the rupee RBI is piling up billions of dollars today. If tomorrow the value of dollar crashes, then so does the value of our foreign exchange reserves which we have en massed. Instead why cant we spend a good amount of these dollars to build world class infrastructure in the country. Before dollar goes down even further cant we give contracts to international companies to build world class infrastructure in India. Cant we give more loans, increase investments etc in friendly countries. Thats exactly what China is doing in African countries.
RE:Tap local market
by anand maran on Mar 04, 2008 03:37 AM
Fantastic nandu, Its sooperb..its an eyeopener...i guess u can go ahead an write an atricle in rediff..
Well, the author has a point in ways to warn the industry not to get complacent, but beyond that he has gotten ahead of himself. He is assuming that the wage is going increase indefinitely as though it is some sort of a linear equation :-) Guess what happens once the companies can%u2019t churn profits, they won%u2019t hike the salaries. The people who are complacent now have to find other higher paying jobs and where would they find it? Because the very verticals which are doing good are because of the IT industry. Where else the money is coming from? So there will be a correction across the economy and the 1:3 or 1:2 ratios will remain intact at least for a few more decades. Note that the same phenomenon will happen in other countries as well which means India will be somewhat on par with those countries. The advantage India provides is scale (with China). The entire Eastern Europe probably produces the same number of engineering/accounting graduates as Bangalore alone does in a year. It will not be possible for any fortune 500 company to rely on a single small country for its operations. Coming from the other angle it%u2019s very easy for a non technical author to think that everything in the world is automatable. At least you need people to verify that automated things are working and more people to keep automating. Going by the same logic GM and Ford should have closed all their plants in US by now. It%u2019s like those who predicted that oil would be costing $1 a barrel
Dingbat in this forum is absolutely right, it is clear that truth hurts IT guys, and the truth is that indian IT is till low end and thus not a paymaster, IT guys can't change aor switch sectors the way marketing or finance guys can and do and that IT will die a slow death due to China monster and the fact that we are low end and not like an SAP or Siebel..
I'am in IT, cmon challenge me instead of making arguments with a banking guy like dingbat..
I fully agree with Dingbat, whatever he has said he is spot on..atleast someone has courage to call a spade a spade!!
RE:Mr Anil b and amit Pandey(truth hurts)
by Vinay Bhanushali on Mar 04, 2008 03:25 AM
Hi Bhashmashura,
Please take this as just another side of the coin. I find it difficult to agree completely that Indian IT is still low end, it has grown of age and has made remarkable progress in the last few years. Having said that, it is also true that we are not doing as good as we should be doing. There are few things that we need to realise that the salaries depend on demand and supply. Until now the demand has been far exceeding the supply and hence the high paying salaries and as an effect the ratio has come down to 1:3 (not sure where the author got this from). To the best of my knowledge even today a US/UK resources cost is 5 times what is charged by Indian companies. Like everyone on this forum the Indian IT companies are also concerned about decline of the cost advantage that India had till now. Most of the companies are now trying to create/sell expertise and not only cost, although cost is still the most crucial factor. This year the IT industry may see increments in single digit figures reducing the gap with other sectors. Demand will always act as a check against ever growing salaries. The other viewpoint that needs a mention is experience, Indian IT companies have learned everything through outsourcing (bodyshopping if you like), until recently we didnt have really big organisations have a presence worldwide and had real IT challenges. Compared to this the IT industry in the developed nations has grown with other industries and is far more matured today.
RE:Mr Anil b and amit Pandey(truth hurts)
by Dingbat on Mar 04, 2008 03:31 AM
The slipping cost advantage(1.3 now) is not due to rising salaries as head honchos want us to believe, but due to large number of people on the bench and in low end jobs....if benched people are eliminated, the cost advantage will come back..
RE:Mr Anil b and amit Pandey(truth hurts)
by amit pandey on Mar 04, 2008 03:52 AM
Dingbat duffer, you were saying way to make money is to join Banking, I gave you example of Sabeer Bhatia, GururRaj Deshpande who are Indian, not American born and yet they made hell lot of money just because they could think in technology which duffer like you cannot think other than comparing salary of eningeers with IIM, totally illogical. I get very high Salary here in USA, since I did masters in USA university in computer Science, more than average salary of IIM guy, still I say they might be better than me , you started all nonsence that people working in IT are coolies, banking people earn more they are smarter than IT people etc crap crap
RE:Mr Anil b and amit Pandey(truth hurts)
by Dingbat on Mar 04, 2008 03:59 AM
Amit,. Don't talk like an idiot....it is these IT companies which have created this halo of glamour which is effectively misdirecting in its nature....such Indian poseurs need to be exposed.. Like a retard, you are repeating the same lines again....at PG level, IT is not a paymaster...even at graduate level, sectors like aviation, retail and research oriented KPOs are now more attractive...what can i do if a retard like you does not want to respect facts??
And cut the cr^ap about your qualifications...i never spoke about mine.(Ya ya, comfort yourself with the blissful knowledge that i'am a school dropout, suits your inferiority complex)....i guess a retard like you can never understand in terms of nominal and real conversion rates....
RE:Mr Anil b and amit Pandey(truth hurts)
by Dingbat on Mar 04, 2008 04:12 AM
Retarded pe^abrain, It is the IT sector that has created this lopsided view...other sectors haven't....if sectors like aviation, insurance, retail, KPO are financially more attractive, it is better that you and your ilk respect those facts and not tomtom about a sector where you work and which has not really moved forard even after 26 years....growing in scale is not the only sign of industry maturity, got it idiot??
RE:RE:Mr Anil b and amit Pandey(truth hurts)
by amit pandey on Mar 04, 2008 04:07 AM
Dingbat, Duffer you had said that people working in IT companies are coolies etc, you started all nonsense and talking about your qualification any sane person would know, from type of wordings you use "coolies" "chaaprasis" etc shame on you.
RE:Mr Anil b and amit Pandey(truth hurts)
by Vinay Bhanushali on Mar 04, 2008 03:54 AM
Hi Dingbat,
The bench strength (you may call it a weakness) has been one of the major USP's that resources are made available at a short notice. As we speak, IT companies now realise that this may also turn out to be their biggest problem when the growth subsides. Not sure if you have read the news about companies now trying to use this as an opportunity to remove non-performing employees. It is a difficult path to tread because you dont want to be the first one to have no one on bench at all because other Indian IT companies could use this as an opportunity and go for the kill. As I said earlier, demand will make everyone adjust their sails again. The only thing constant in this world is change. Dont know if you would believe me but the situation is somewhat similar to the silicon valley a decade (or couple) earlier. The demand for IT was high and the salaries were sky rocketing, the attrition was high etc. etc. I read a very good article in TOI which said that "Value changes from place to place", it is a fact that the day we are no longer cost effective and competent we won't survive. In summary, everything that goes up will go down, the IT industry might not be as lucrative as it has been but by this time new sectors will open up which will offer/impact us similar way IT did. I dont want to get personal here, in my opinion no work is big, small or great and hence comparing IT people with Chaprasis is not good. I dont mean that the IT people would get offended but we sho
RE:RE:Mr Anil b and amit Pandey(truth hurts)
by Dingbat on Mar 04, 2008 04:00 AM
Sure, i know about TCS' EVA based compensation schemes...movement in the right direction i should say!!
RE:Mr Anil b and amit Pandey(truth hurts)
by Bhashmashura(The real one) on Mar 04, 2008 03:14 AM
What dingbat is saying is facts, it is just that amit Pandey is taking it personally cos it echoes the insecurities in his mind, if he were a secure and confident guy, why would he make it personal? so obvious!
RE:Mr Anil b and amit Pandey(truth hurts)
by Nandu on Mar 04, 2008 03:20 AM
Indian IT wont exist as we know today by 2012. It will be quite different driving maximum revenue from Indian market itself, plus a few products here and there. The flip side is may be average salaries will drop with this paradigm shift. Good for common man who can buy stuff and property cheaper.
RE:Mr Anil b and amit Pandey(truth hurts)
by Nandu on Mar 04, 2008 03:26 AM
IIT talent goes waste and so does taxpayer money. it is pathetic to see biotech majors joining some bloody investment banking company a totally unrelated field due to greed of money. Is this the common man pampering IIT for ?
RE:Mr Anil b and amit Pandey(truth hurts)
by amit pandey on Mar 04, 2008 04:04 AM
Mr. Bhasmashura, I work in USA for long, if Indian IT industry dies it wont affect me in any negative way, so there is not question of insecurity, I dont understand that people like you cannot understand that IT industry brings so much revenue for India, if they die so would other industry , since IT industry are exporting billions of dollar , but it is illogical to make you people understand, duffer if 2 lakh people are going to usa for IT job than it supports aviation industry et et duffer think before u say
RE:Mr Anil b and amit Pandey(truth hurts)
by Bhashmashura(The real one) on Mar 04, 2008 04:18 AM
I only agree with what Dingbat has to say, obviously his arguments will have a few lacunae as it is clear that he is not from IT, some of his comments are harsh and stupid, but that still does not change fact that he has made very valid points : 1) Indian IT sector has only scaled in size but not in value terms 2) IT salaries have not kept pace with the economy, even today i know one indian IT company that indexes salary hike to inflation 3) Hype and hoopla and little substance 4) Very few exit options into other fields, it ties you down..
Learn to mind your language cos i have not used any bad language against you! Don't make me stoop to your level!
RE:Mr Anil b and amit Pandey(truth hurts)
by Dingbat on Mar 04, 2008 04:32 AM
What stupid comment have i made?? And if i have made some harsh comments, then i can tell you Mr Bhashmashura, that it is deserved...these IT guys call enginnering industry guys(L&T, Siemens etc) workers and foremen...i spent a couple of years in engineering and i always earned as much as my friends in TCS, Infy or Wipro... Their superficial pretence at superiority is just a facade to hide their inner fear that besides the selling proposition of the US, they don't have nething else to write on their CV...
