Sunday, February 10, 2008

Software Engineer in US Thinking of Going to India!!!! Think Again

Are you an engineer in US who is planning to go to India because of lucrative job offers there, well that does not seem to be a very good idea right now as the salaries of software engineers have come down substantially. There are many reasons for it, First of all the value of rupee has gone up by 13 percent against US$ and hence the softwares that Indian companies used to sell to big corporate houses in US have lost their value quite a bit , and software companies which give 45 percent of their profit to its employees (including engineers and managers) have reduced the salaries as company's profit margins have come down considerably. This has a big impact on overall Indian economy as the main reason for economic boom in country was IT or software industry as US software companies were pumping in big bucks in India.

a picture taken at a Cyber cafe in Bihar

This means there will be overall decrease in every sector's growth as most of the sectors in India were dependent on software. The only exceptions would be shown by manufacturing and telecommunications industries like BHEL and L&T, whose shares are going to rise in prices in forth quarter of current Fiscal year as against other industries shares. The down slide means less jobs for fresh graduates. For example TCS has already reduced the number of engineers it was planning to hire in 2008 and in fact has asked 500 of its employees to retire voluntarily. Moreover, many engineers in their final year in Indian Engineering colleges are already in doubt whether their appointment letters are going to be canceled and if not whether they will ever get their joining letters.
Slowdown in economy, however is predicted to be over once US gets over its recession, most probably in two years according to economic analysts. Read the full article at the link given above.


Also read :
Top Hiring Companies in US in 2008

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