iambest
07-11 04:48 PM
Is this true...? if it is, USCIS is in big trouble.
5. When the law clearly says that USCIS could allot only 10% of visas per month which is 14K, under what basis USCIS issued 60K visas in the month of June 2007. Here is the link to that law. http://ecfr.gpoaccess.gov/cgi/t/text....6.1.1&idno=22
5. When the law clearly says that USCIS could allot only 10% of visas per month which is 14K, under what basis USCIS issued 60K visas in the month of June 2007. Here is the link to that law. http://ecfr.gpoaccess.gov/cgi/t/text....6.1.1&idno=22
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immi2006
05-10 10:52 AM
http://www.wsmv.com/global/story.asp?s=4883792
WASHINGTON The U-S Senate is crafting legislation that would require employers to check the Social Security numbers and the immigration status of all new hires.
Employers who don't and who hire illegal immigrants would be subjected to fines of two hundred- to six thousand dollars per violation.
And once an electronic system is up and running, fines can jump to as much as 20 thousand dollars, along with the spectre of actual prison time.
In the immigration law of 1986, Congress left it to employers to ensure they were hiring legal workers, but the law was not strictly enforced and the market has become swamped with fraudulent documents.
Reported on http://www.immigration-law.com/.
Here is the Linnk for the news article.
http://news.yahoo.com/s/ap/20060510/...tion_employers
This looks good.If the Employers stop hiring Illegals, the Problem of Illiegal Immigrants would be solved to a very large extent.
We have Illiegal Immigrants coming from all over the World, because they are assured of an hourly salary of 5$/Hr(which is very handsome, compared to the situation in their respective countries).
If they stop getting employment,they would not have any incentive to take the risk of coming in here as an illegal immigrant.Ofcourse, there will still be people crossing over but that would be just a trickle as compared to the Thousands who cross over every single day.
This move is logical and more practical.If the internal mechanism is strengthened, there is no need spend Billions of $ to try to seal the Southern Borders through a wall or fence.
WASHINGTON The U-S Senate is crafting legislation that would require employers to check the Social Security numbers and the immigration status of all new hires.
Employers who don't and who hire illegal immigrants would be subjected to fines of two hundred- to six thousand dollars per violation.
And once an electronic system is up and running, fines can jump to as much as 20 thousand dollars, along with the spectre of actual prison time.
In the immigration law of 1986, Congress left it to employers to ensure they were hiring legal workers, but the law was not strictly enforced and the market has become swamped with fraudulent documents.
Reported on http://www.immigration-law.com/.
Here is the Linnk for the news article.
http://news.yahoo.com/s/ap/20060510/...tion_employers
This looks good.If the Employers stop hiring Illegals, the Problem of Illiegal Immigrants would be solved to a very large extent.
We have Illiegal Immigrants coming from all over the World, because they are assured of an hourly salary of 5$/Hr(which is very handsome, compared to the situation in their respective countries).
If they stop getting employment,they would not have any incentive to take the risk of coming in here as an illegal immigrant.Ofcourse, there will still be people crossing over but that would be just a trickle as compared to the Thousands who cross over every single day.
This move is logical and more practical.If the internal mechanism is strengthened, there is no need spend Billions of $ to try to seal the Southern Borders through a wall or fence.
perm
12-27 04:43 PM
You do have to use AC21 if you want to keep GC process alive and yes, may get RFE. You do not have to notify the USCIS about the job change, but keep your employment offer handy in case RFE will follow. If you notify them, most likely RFE will follow, if not, you may never get RFE. Some people think it's safer to notify the USCIS, but I think it's better not to. It's up to you to decide.
Do you have to use / file AC-21 if your I-140 is approved (long back in 2005) and you have passed 180 days of i485 received date?
Do you have to use / file AC-21 if your I-140 is approved (long back in 2005) and you have passed 180 days of i485 received date?
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tnite
03-31 06:24 PM
Hi All Gurus:
I am changing my employer with pending I-140 and I-485 both > 180 days.
RD: 07/23
ND: 09/13
EB2/TSC
PD:12/04
I might recieve an RFE as I did not submit experience letters from my previous employers. I have a masters degree from US.
Just in case I get an RFE on I-140 and old lawyers/old company chose not to respond what are my options? I have letters with me now and can myself respond to RFE if I know what it is about.
if RFE goes unresponded is MTR the only option left??
Thanks in anticipation.
If your old employer revokes the I140 when you leave him, you will end up starting your GC process from scratch.
You can change your employer 180 days after filing your I485 provided your I140 is approved.
Think twice before you act
I am changing my employer with pending I-140 and I-485 both > 180 days.
RD: 07/23
ND: 09/13
EB2/TSC
PD:12/04
I might recieve an RFE as I did not submit experience letters from my previous employers. I have a masters degree from US.
Just in case I get an RFE on I-140 and old lawyers/old company chose not to respond what are my options? I have letters with me now and can myself respond to RFE if I know what it is about.
if RFE goes unresponded is MTR the only option left??
Thanks in anticipation.
If your old employer revokes the I140 when you leave him, you will end up starting your GC process from scratch.
You can change your employer 180 days after filing your I485 provided your I140 is approved.
Think twice before you act
more...
invincibleasian
02-06 05:09 PM
I dont have EAD so I cannot comment!
blackberry
07-16 10:32 AM
I don't think, anyone other than the USCIS/DOS will know the solution or whatever, at this time, untill the information is published to public. Applying AOS or not should be decided by you and your attorney. Not the core, Guess if the core has the updates that you are looking they might have updated in the home page :) by now...
Well I'm also waiitng to see what would be the updates from USCIS, as my 485 papers are not yet submitted but ready to go and the attorney would make the decision based on how this truns out to be... WSJ article is the one that is updates in various website/blog. Have to wait and see...
well said..
Well I'm also waiitng to see what would be the updates from USCIS, as my 485 papers are not yet submitted but ready to go and the attorney would make the decision based on how this truns out to be... WSJ article is the one that is updates in various website/blog. Have to wait and see...
well said..
more...
purgan
02-11 10:39 PM
I signed as well.
I also might point out another important angle to this mortgage issue. In the past 2 years since I was still waiting for my green card, I purchased 2 apartments in India. My dollar savings got diverted abroad since I saw no point purchasing in a country where my presence is uncerrtain.
I am sure there are many others who invested abroad instead of the USA. IV can perhaps institute a poll to see how many people bought abroad and how much they invested. This way there will be a quanfifiable impact of dollars diverted. I am sure it will be in the hundreds of millions atleast.
I also might point out another important angle to this mortgage issue. In the past 2 years since I was still waiting for my green card, I purchased 2 apartments in India. My dollar savings got diverted abroad since I saw no point purchasing in a country where my presence is uncerrtain.
I am sure there are many others who invested abroad instead of the USA. IV can perhaps institute a poll to see how many people bought abroad and how much they invested. This way there will be a quanfifiable impact of dollars diverted. I am sure it will be in the hundreds of millions atleast.
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glosrfc
01-02 05:44 PM
Are you considering actually creating something in AS1?
:)
I already have something in AS1 that fits the guidelines of this competition perfectly!
:)
I already have something in AS1 that fits the guidelines of this competition perfectly!
more...
pal351
02-11 05:55 PM
http://www.prweb. com/releases/ 2009/02/prweb200 0494.htm
If more People think like this we will be in good shape.
Thanks,
If more People think like this we will be in good shape.
Thanks,
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raysaikat
04-03 10:56 AM
Yes, they will return the old passport. You should always carry all your passports. However, only the latest passport is the "active" passport. Any new VISA stamp will be on the latest passport.
All VISAs stamped on your old passports remain on the old passports.
All VISAs stamped on your old passports remain on the old passports.
more...
augustus
05-12 09:18 AM
Dear All,
Could you please advise, if we can port eb3 to eb2.
My husband is working for the same employer for last 6 years. He has masters degree from US and he filed for his GC in 2004. In 2004, he had only 1 year experience. The lawyer said he does not qualify for Eb2 despite his US degree.
Now after 6 years, he had a job change within his company. He became a principal engineer from just an engineer. Could we port to EB2?
If yes, what should we be careful about and how should we go about it?
Sincerely,
Augustus
Could you please advise, if we can port eb3 to eb2.
My husband is working for the same employer for last 6 years. He has masters degree from US and he filed for his GC in 2004. In 2004, he had only 1 year experience. The lawyer said he does not qualify for Eb2 despite his US degree.
Now after 6 years, he had a job change within his company. He became a principal engineer from just an engineer. Could we port to EB2?
If yes, what should we be careful about and how should we go about it?
Sincerely,
Augustus
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jagan13
02-18 09:58 AM
I am currently waiting for my renewed passport from Washington DC embassy, which I had mailed them on Dec 30th(signed for and received by them on Dec 31st). The passport is due to expire in Oct 2011. My problem is, my drivers license is expiring on Feb 24th as is my stamped visa. My employer has filed for my H1b extension and I currently have the original receipt notice needed for renewing my license. But, I cannot renew it without the original passport. I have been trying to reach them through phone as well as email for over 10 days now. Also, when filling out the form , I have a different permanent Indian address than what I had on the passport as my family back home had moved. The following are my questions:
1) Does this increase the processing time, due to any verification of address in India?
2) Has anybody been in the same situation and if yes, how long did it take for the embassy to renew and mail the passport?
3) Does anybody have a point of contact at the Embassy?
NOTE: I just talked to my bank and confirmed that the cashiers checks I had send along with the application have been cashed on Jan 24th. I dont know where that puts me on the timeline for receving my passport.
I have been looking at other threads on the forum and looks like it is typically taking 40 days for people to receive their passports in the mail. But , my license situation is concerning as I do not know, at what stage of renewal process my passport is in and how much longer I have to wait. Any insight will be greatly appreciated.
Thanks,
Jagan
1) Does this increase the processing time, due to any verification of address in India?
2) Has anybody been in the same situation and if yes, how long did it take for the embassy to renew and mail the passport?
3) Does anybody have a point of contact at the Embassy?
NOTE: I just talked to my bank and confirmed that the cashiers checks I had send along with the application have been cashed on Jan 24th. I dont know where that puts me on the timeline for receving my passport.
I have been looking at other threads on the forum and looks like it is typically taking 40 days for people to receive their passports in the mail. But , my license situation is concerning as I do not know, at what stage of renewal process my passport is in and how much longer I have to wait. Any insight will be greatly appreciated.
Thanks,
Jagan
more...
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GIDOC
07-18 01:47 AM
We should still encourage Congresswoman Zoe Lofgren to look into why this happened in the first place. This should not happen again.
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ItIsNotFunny
12-08 11:15 PM
If you believe me, just ignore and concentrate on real issues like Obama immigration panel, FOIA & AC21 action items.
Gave you green, it that helps :).
Somebody recently gave me a red dot for one of my posts, which is alright, but the person qualified it with a highly offensive Hindi expletive. The words are too obscene to be posted in open forum so I will refrain from reproducing them.
I want IV to reveal the name of the culprit, and ban him/her immediately. Failing which, I will have to evaluate other options to seek redress.
Needless to say, this whole dot mongering is seriously flawed and needs rethinking.
Gave you green, it that helps :).
Somebody recently gave me a red dot for one of my posts, which is alright, but the person qualified it with a highly offensive Hindi expletive. The words are too obscene to be posted in open forum so I will refrain from reproducing them.
I want IV to reveal the name of the culprit, and ban him/her immediately. Failing which, I will have to evaluate other options to seek redress.
Needless to say, this whole dot mongering is seriously flawed and needs rethinking.
more...
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go_guy123
10-23 02:02 PM
Glad to see this law. Also this law gives me hope for recapture. No one knew about this law was in transit and without any hitches this one passed all the way. So for those who feel that recapture cannot pass can rethink their position based on this new fact.
Yes very true....actually thanks to organizations like IV a lot of lawmakers now understand the EB backlog. There is not a major opposition to EB reform.
It is the CIR that is holding this back.
Yes very true....actually thanks to organizations like IV a lot of lawmakers now understand the EB backlog. There is not a major opposition to EB reform.
It is the CIR that is holding this back.
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trueguy
08-11 12:19 AM
Bump
more...
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immi_enthu
08-28 11:44 AM
http://murthyforum.atinfopop.com/4/OpenTopic?a=tpc&s=1024039761&f=2994050912&m=6611023531&r=6611023531#6611023531
Attorney_8
posted August 11, 2006 11:29 AM
--------------------------------------------------------------------------------
The employee must sign the 9089 once it is approved in order to get the I-140 approved.
http://murthyforum.atinfopop.com/4/OpenTopic?a=tpc&s=1024039761&f=2994050912&m=7431057041&r=7431057041#7431057041
Attorney_13
Attorney posted December 02, 2006 10:55 AM
--------------------------------------------------------------------------------
The Beneficiary of the LC is required to sign the original, certified LC. There are no other documents that the Beneficiary will need to sign associated with the filing of the I-140. All other forms/letters are signed by the company.
Attorney_8
posted August 11, 2006 11:29 AM
--------------------------------------------------------------------------------
The employee must sign the 9089 once it is approved in order to get the I-140 approved.
http://murthyforum.atinfopop.com/4/OpenTopic?a=tpc&s=1024039761&f=2994050912&m=7431057041&r=7431057041#7431057041
Attorney_13
Attorney posted December 02, 2006 10:55 AM
--------------------------------------------------------------------------------
The Beneficiary of the LC is required to sign the original, certified LC. There are no other documents that the Beneficiary will need to sign associated with the filing of the I-140. All other forms/letters are signed by the company.
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DareYouFireMe
03-09 03:52 PM
For the second I-140, He should have applied asking for the previous Priority date. I am not sure about this, but if there is a way to get previous Priority date of Dec-2002 on the EB2 (NEW I-140). Then s/he would be current (assuming India, China).
Document URL
http://www.uscis.gov/files/pressrele...22_091206R.pdf
PAGE 27
(1) Determining the Priority Date.
In general, if a petition is supported by an individual labor certification issued by DOL, the priority date is the earliest date upon which the labor certification application was filed with DOL. In those cases where the alien�s priority date is established by the filing of the labor certification, once the alien�s Form I-140 petition has been approved, the alien beneficiary retains his or her priority date as established by the filing of the labor certification for any future Form I-140 petitions, unless the previously approved Form I-140 petition has been revoked because of fraud or willful misrepresentation. This includes cases where a change of employer has occurred; however, the new employer must obtain a new labor certification if the classification requested requires a labor certification (see the section on successor in interest).
PAGE 28
If an alien is the beneficiary of two (or more) approved employment-based immigrant visa petitions, the priority of the earlier petition may be applied to all subsequently-filed employment-based petitions. For example:
Company A files a labor certification request on behalf of an alien ("Joe") as a janitor on January 10, 2003. The DOL issues the certification on March 20, 2003. Company A later files, and USCIS approves, a relating I-140 visa petition under the EB-3 category. On July 15, 2003, Joe files a second I-140 visa petition in his own behalf as a rocket scientist under the EB-1 category, which USCIS approves. Joe is entitled to use the January 10, 2003, priority date to apply for adjustment under either the EB-1 or the EB-3 classification
Document URL
http://www.uscis.gov/files/pressrele...22_091206R.pdf
PAGE 27
(1) Determining the Priority Date.
In general, if a petition is supported by an individual labor certification issued by DOL, the priority date is the earliest date upon which the labor certification application was filed with DOL. In those cases where the alien�s priority date is established by the filing of the labor certification, once the alien�s Form I-140 petition has been approved, the alien beneficiary retains his or her priority date as established by the filing of the labor certification for any future Form I-140 petitions, unless the previously approved Form I-140 petition has been revoked because of fraud or willful misrepresentation. This includes cases where a change of employer has occurred; however, the new employer must obtain a new labor certification if the classification requested requires a labor certification (see the section on successor in interest).
PAGE 28
If an alien is the beneficiary of two (or more) approved employment-based immigrant visa petitions, the priority of the earlier petition may be applied to all subsequently-filed employment-based petitions. For example:
Company A files a labor certification request on behalf of an alien ("Joe") as a janitor on January 10, 2003. The DOL issues the certification on March 20, 2003. Company A later files, and USCIS approves, a relating I-140 visa petition under the EB-3 category. On July 15, 2003, Joe files a second I-140 visa petition in his own behalf as a rocket scientist under the EB-1 category, which USCIS approves. Joe is entitled to use the January 10, 2003, priority date to apply for adjustment under either the EB-1 or the EB-3 classification
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srinivas_o
09-16 02:11 PM
Hello Gurus,
I am July 2nd filer like so many others. I have changed employer after 9 month of filing I-485. I-140 was approved in Jun 2007. I have AP approved.
My question : Is it advisable to travel to India and come back on AP? the reason I am asking is I have changed the employer? Will that affect my entry back to USA in any way at immigration check? Please advise.
Thanks in advance.
--Srinivas
I am July 2nd filer like so many others. I have changed employer after 9 month of filing I-485. I-140 was approved in Jun 2007. I have AP approved.
My question : Is it advisable to travel to India and come back on AP? the reason I am asking is I have changed the employer? Will that affect my entry back to USA in any way at immigration check? Please advise.
Thanks in advance.
--Srinivas
kinvin
05-08 02:50 PM
A bidding war makes for �crazy� salaries across Asia
By Sundeep Tucker
Published: May 6 2007 19:15 | Last updated: May 6 2007 19:15
A combination of strong economic growth, corporate ambition and a limited pool of managers and specialists has plunged Asian companies into a battle for top talent, from casinos in Macau gearing up for business to boom towns in resource-rich western Australia desperate to attract mining engineers.
Salaries for top performers are being bid up to unheard of levels. Even Indian software engineers in Silicon Valley are returning home attracted by high ex-pat salary packages and senior positions, as are Chinese and Japanese-born bankers working in London and New York.
Damien Chunilal, Merrill�s Lynch�s Pacific Rim chief operating officer, says: �The success of Asia�s economies has in some areas increased the pool of available talent. Emigrants are prepared to return home to fill positions that five years ago would not have attracted them. It�s a tighter market, but our overall hiring universe is bigger.�
Which companies win this war for talent will go a long way to deciding which will succeed in the Asia Pacific region.
The consensus is that recruiting and retaining skilled workers in Asia is harder and more expensive than ever. Headhunters warn that the inability to fill key positions with qualified people, mostly at senior level, is denting the regional expansion plans of many companies.
The struggle to hire qualified staff is most acute in financial services, a sector whose fortunes are closely correlated with the level of growth. Demand for consumer banking in India and China is soaring and investment banks are adding personnel to service the region�s emerging acquisitive corporations.
In addition, private equity firms and hedge funds have mushroomed over the past year, pinching scores of the region�s top investment bankers along the way, while the region�s newly-minted millionaires are demanding world-class wealth management services.
The boom in financial services is also having knock-on effects in connected support industries such as accounting, law and public relations.
A key problem for recruitment is the lack of fungibility of personnel across the different markets of the region, with its varied cultural, political and linguistic traditions. Headhunter Kevin Gibson, managing director of Robert Walters Japan, says: �You can relocate a Mexican to Argentina or an American to the UK. But you can�t move a senior manager from China to Japan unless they speak the language and enjoy the culture.�
One senior Hong Kong-based executive for a global investment bank describes the situation as �crazy�. He said: �Banks are short of good staff all over the world but Asia is the hottest place by far. I have 28-year-olds coming into my office telling me that they are resigning because they have been offered a $1m job.� The executive blamed the wage inflation on a combination of factors, including new entrants who pay huge premiums to attract staff, the growth and expansion of hedge funds and private equity firms and the expansion plans of existing players. �It all means that there are too many potential employers chasing too few people,� he says.
As well as drawing from the well of investment banks, private equity firms expanding in Asia have started to adopt US and European practice by luring senior industry executives. In recent weeks Carlyle Group of the US has poached the regional heads of Coca-Cola and Delphi to oversee the firm�s future investments across the consumer and industrial sectors respectively.
The frenzy is thought to have prompted the Singapore government to broker an informal non-poaching agreement that effectively protects two local banks, DBS and OCBC, from aggressive foreign rivals.
In China, analysts describe the talent shortage as �acute�. Steve Mullinjer, head of Heidrick & Struggles China practice, says: �There is a paradox of shortage among the plenty.� He believes that China requires 75,000 quality people to fill senior vacancies at multinationals and expanding domestic companies � but can only supply around 5,000 candidates with suitable experience.
Wage inflation is running so hot that a locally-born general manager for a multinational can earn 20 per cent more than a counterpart in the US �with only 75 per cent of the skills set�, he says. �The reality is that executives in China are getting over-titled and overpaid. Underperformers who leave often resurface in jobs earning double the salary.�
The talent shortage is also keenly felt in India, especially in the financial services and information technology sectors.
Business is growing so fast that the industry�s lobby group has estimated that the Indian IT sector faces a shortfall of 500,000 professionals by 2010 that threatens the country�s dominance of global offshore IT services.
Blue chip IT companies are plundering the entire talent pool across industries, stealing civil engineers and graduates from other disciplines and turning them into software engineers. This has left acute shortages in industries such as construction.
Azim Premji, founder chairman of India�s Wipro, one of the world�s leading IT companies, says: �The multinationals are going berserk and are unnecessarily paying premiums to fill the positions.�
The effect on pay rates has been predictable. According to Hewitt Associates, the consultancy, average salary increases in India are running at more than 14 per cent a year, compared with around 8 per cent in China and slightly less in South Korea and the Philippines.
Dinesh Mirchandani, managing director of the India practice of Boyden, a global search firm, said that the annual salary for the typical chief executive of a mid-cap multinational in India, with just $100m sales, has doubled in the past five years to $250,000. He says: �At senior levels, the pay gap between those based in India and those elsewhere has narrowed dramatically. I even have an Indian national chief operating officer in a multinational here who is earning more than his Dubai-based boss.� Mr Mirchandani cites BP, Citibank and PepsiCo as multinationals that have prospered because they recruited and retained staff successfully by introducing favourable human resource policies.
The recruitment market in Japan has tended to march to its own beat. However, the country�s economic recovery has created bottlenecks in sectors such as financial services, retail and pharmaceutical, while sectors such as precision engineering have been boosted by insatiable demand from China for their products. The talent war even has its plus points. One US investment banking executive working in Asia says that the situation has made it easier to get rid of underpeforming staff.
He says: �In the past the worker might have been sacked. Nowadays we tell that worker to go and quietly solicit offers in the marketplace. They usually do so quickly, and can get a higher salary from a hedge fund or private equity firm. That way, nobody�s reputation gets sullied.�
Copyright The Financial Times Limited 2007
By Sundeep Tucker
Published: May 6 2007 19:15 | Last updated: May 6 2007 19:15
A combination of strong economic growth, corporate ambition and a limited pool of managers and specialists has plunged Asian companies into a battle for top talent, from casinos in Macau gearing up for business to boom towns in resource-rich western Australia desperate to attract mining engineers.
Salaries for top performers are being bid up to unheard of levels. Even Indian software engineers in Silicon Valley are returning home attracted by high ex-pat salary packages and senior positions, as are Chinese and Japanese-born bankers working in London and New York.
Damien Chunilal, Merrill�s Lynch�s Pacific Rim chief operating officer, says: �The success of Asia�s economies has in some areas increased the pool of available talent. Emigrants are prepared to return home to fill positions that five years ago would not have attracted them. It�s a tighter market, but our overall hiring universe is bigger.�
Which companies win this war for talent will go a long way to deciding which will succeed in the Asia Pacific region.
The consensus is that recruiting and retaining skilled workers in Asia is harder and more expensive than ever. Headhunters warn that the inability to fill key positions with qualified people, mostly at senior level, is denting the regional expansion plans of many companies.
The struggle to hire qualified staff is most acute in financial services, a sector whose fortunes are closely correlated with the level of growth. Demand for consumer banking in India and China is soaring and investment banks are adding personnel to service the region�s emerging acquisitive corporations.
In addition, private equity firms and hedge funds have mushroomed over the past year, pinching scores of the region�s top investment bankers along the way, while the region�s newly-minted millionaires are demanding world-class wealth management services.
The boom in financial services is also having knock-on effects in connected support industries such as accounting, law and public relations.
A key problem for recruitment is the lack of fungibility of personnel across the different markets of the region, with its varied cultural, political and linguistic traditions. Headhunter Kevin Gibson, managing director of Robert Walters Japan, says: �You can relocate a Mexican to Argentina or an American to the UK. But you can�t move a senior manager from China to Japan unless they speak the language and enjoy the culture.�
One senior Hong Kong-based executive for a global investment bank describes the situation as �crazy�. He said: �Banks are short of good staff all over the world but Asia is the hottest place by far. I have 28-year-olds coming into my office telling me that they are resigning because they have been offered a $1m job.� The executive blamed the wage inflation on a combination of factors, including new entrants who pay huge premiums to attract staff, the growth and expansion of hedge funds and private equity firms and the expansion plans of existing players. �It all means that there are too many potential employers chasing too few people,� he says.
As well as drawing from the well of investment banks, private equity firms expanding in Asia have started to adopt US and European practice by luring senior industry executives. In recent weeks Carlyle Group of the US has poached the regional heads of Coca-Cola and Delphi to oversee the firm�s future investments across the consumer and industrial sectors respectively.
The frenzy is thought to have prompted the Singapore government to broker an informal non-poaching agreement that effectively protects two local banks, DBS and OCBC, from aggressive foreign rivals.
In China, analysts describe the talent shortage as �acute�. Steve Mullinjer, head of Heidrick & Struggles China practice, says: �There is a paradox of shortage among the plenty.� He believes that China requires 75,000 quality people to fill senior vacancies at multinationals and expanding domestic companies � but can only supply around 5,000 candidates with suitable experience.
Wage inflation is running so hot that a locally-born general manager for a multinational can earn 20 per cent more than a counterpart in the US �with only 75 per cent of the skills set�, he says. �The reality is that executives in China are getting over-titled and overpaid. Underperformers who leave often resurface in jobs earning double the salary.�
The talent shortage is also keenly felt in India, especially in the financial services and information technology sectors.
Business is growing so fast that the industry�s lobby group has estimated that the Indian IT sector faces a shortfall of 500,000 professionals by 2010 that threatens the country�s dominance of global offshore IT services.
Blue chip IT companies are plundering the entire talent pool across industries, stealing civil engineers and graduates from other disciplines and turning them into software engineers. This has left acute shortages in industries such as construction.
Azim Premji, founder chairman of India�s Wipro, one of the world�s leading IT companies, says: �The multinationals are going berserk and are unnecessarily paying premiums to fill the positions.�
The effect on pay rates has been predictable. According to Hewitt Associates, the consultancy, average salary increases in India are running at more than 14 per cent a year, compared with around 8 per cent in China and slightly less in South Korea and the Philippines.
Dinesh Mirchandani, managing director of the India practice of Boyden, a global search firm, said that the annual salary for the typical chief executive of a mid-cap multinational in India, with just $100m sales, has doubled in the past five years to $250,000. He says: �At senior levels, the pay gap between those based in India and those elsewhere has narrowed dramatically. I even have an Indian national chief operating officer in a multinational here who is earning more than his Dubai-based boss.� Mr Mirchandani cites BP, Citibank and PepsiCo as multinationals that have prospered because they recruited and retained staff successfully by introducing favourable human resource policies.
The recruitment market in Japan has tended to march to its own beat. However, the country�s economic recovery has created bottlenecks in sectors such as financial services, retail and pharmaceutical, while sectors such as precision engineering have been boosted by insatiable demand from China for their products. The talent war even has its plus points. One US investment banking executive working in Asia says that the situation has made it easier to get rid of underpeforming staff.
He says: �In the past the worker might have been sacked. Nowadays we tell that worker to go and quietly solicit offers in the marketplace. They usually do so quickly, and can get a higher salary from a hedge fund or private equity firm. That way, nobody�s reputation gets sullied.�
Copyright The Financial Times Limited 2007
cfan666666
06-28 09:20 PM
Both of them will work, I believe.
Good luck to all of us!
Good luck to all of us!
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