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  • 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





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  • conchshell
    04-24 10:01 AM
    I think this is the opportunity that we should not miss ... lets start a letter or flower campaign to reach the member of the sub-committee. I am sure IV must be participating in this hearing.

    On a slightly different note: Its not important that who reported it first. We are not playing a TRP rating game between immigration-law and IV. As long as our goals are same, and we all fight for a common cause, its just irrelevent who reported the news first.





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  • desi485
    08-12 12:54 PM
    in my case, the local municipal corp in india denied providing non-avaibility certificate. Because my birth is registered and I do have birth cerficate, but instead of wrong date as in your case, in my case the first name is wrong. I had my birth-name on the birth certificate which is not un-common in india. Before I started pre-school, all my cerficates from that point onwards have my current legal name.

    I did not specified YES in the column where it asks if you were known by anyother name in 485.

    The only glitch is a first-name in birth cert is diff. from my current legal name. the name of parents, date, timing, family name, birth place and everything else is true and correctly mentioned.

    how much chances do you see for me to get an RFE on this?

    My lawyer told me to submit Affdevits from my parents which I did, along with original birth certificate with wrong first name. My parents also mentioned that I was given a pet-name at the time of birth, and then decided for my current legal name. I know this is complicated...

    I found 'usa consulate' in UK website talking about such case. It suggests to have affidevits, and EARLY school records, affidevit from priests etc. who performed any religious naming ceremonies etc as the acceptable documents.

    I am keeping my fingers crossed.





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  • j-square
    07-04 10:50 PM
    "__________________
    EB3 Worldwide
    PD 07/11/03
    I-140 RD 02/27/06 AD 03/22/06
    I-485 RD 05/07/07 filed at TSC
    FP 06/02/07 (Code 3) - sent to USCIS same day
    LUD 06/05/07
    "

    For RD to be 05/07/07, you must be eligible to file in the month of May and hence PD should be current as per April VB.

    EB3 ROW was still Aug 2002 in April visa bulletin. How could you file for I-485?

    Not April VB. To file in May, PD should be current as per May VB (which came out in mid April). On May VB, EB3 ROW was 01AUG03. This case's PD is July 11 2003, so went through.



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  • looivy
    11-05 08:42 PM
    My lawyer had said that as long as you were married before the primary applicant's I-485 was approved, the spouse can be added even after the approval.

    I don't understand about going to home country and coming back? PLease explain.





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  • paskal
    11-09 03:43 PM
    What main theme do you expect for probable resume?

    if you have a resume, we'll just ask you to send it along
    as i said it's only purpose is to see if we can identify and match skillsets for various action itmes/iv roles/work groups. sometimes some things come up and we find great matches that way...
    we are not really interested in your GPA (superlative as i'm sure that is!) :D



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  • ameryki
    08-30 11:03 PM
    There should be some basis for their judgement right? they just cannot make arbitrary decisions right? The thing is I am not sure what the procedure is when there are issues with the EAD. I am apprehensive to return my EAD for USCIS to make the correction as it expires in 3 weeks

    my friend even after knowing about uscis as much as you do now you still think they go by judgement? there is no "issue" with your ead hence you cannot do anything about it. nowhere does it say you are guaranteed 2 yr ead.





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  • Winner
    04-21 12:28 PM
    If I485 is denied for wrong reason (due to USCIS error), I understand that the applicant and attorney can file a MTR, but during the time till the case is reopened again, is it legal for the employee to work on EAD?

    My assumption here is once the denial notice is received, it may take few weeks/months to gather the necessary information, send it to USCIS and then the case gets reopened.



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  • delhirocks
    07-03 12:21 AM
    Yes, it's my case that just got approved. See my signature for dates.

    Congrats, This is the only positive that came out of this fiasco. Iam sure its big relief for you and potentially 60,000 other filers. Enjoy...





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  • rockstart
    02-20 07:14 PM
    I submitted my passport renewal in december 09 and received my new passport in feb 10. Exactly 3 months to the date. Its a pretty slow process. Initially they gave me a Jan date to pick the passport ( I did not personally not via mail) and when I went there they said they had not received police clearance from India (no change in house or any info from old passport) but good part was they said they will call me when the passport is ready and they did call. Other wise there is no way to contact them. The phone just rings and rings and message box is full.



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  • India_USA
    11-01 09:43 AM
    Any new tunes that capture our plight?





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  • user1205
    09-05 12:05 PM
    From http://www.immigration-law.com/Canada.html

    List of Witnesses To Testify at House Judiciary Immigration Subcommittee Hearing Tomorrow

    The list:
    Congressman Jeff Flake, R-AZ, co-sponsor of STRIVE Act of 2007
    Congressman Joe Beca, D-CA
    Congressman Ray Lahood, R-CA
    Congessman Brian Bilbray, R-CA
    Tony Wasilewsi, Small Business Owner, Schiller Park, IL
    Eduardo Gonzalez, U.S. Navy Petty Officer Second Class, Jacsonville, FL
    Rev. Luis Cortes, Jr., President Esperanza USA
    Joshua Hoyt, Executive Director Illinois Coalition for Immigrant & Refugee Rights
    Cassandra Q. Butts, Sr. Vice President for Domestic Policy Center for American Progress
    David Lizarraga, Chirman of U.S. Hispanic Chamber of Commerce
    Julie Kirchner, Director of Government Relations Federation of American Immigration Reform
    Corey Stewart, Chairman At-Large, William County Board of Supervisors, FL

    The list indicates that the skilled worker immigrant worker community is not well represented in this hearing. We will post the text of the testimony as soon as it becomes available.



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  • pcs
    08-01 09:31 AM
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  • webm
    04-22 04:03 PM
    Hello,
    My company's HR rep informed me that my application was selected in this godforsaken lottery. however the validity dates of H1 have been screwed up. they say valid from Oct 1st 2008-Oct 1st 2008.
    Now the lawyers are saying hopefully they will correct things before they mail out either the actual recipts or when they issue the visa. If this is not corrected they are going to apply for corrections.
    I am a little worried, should they be waiting until the visa arrives or make a move now?
    Has anyone faced this issue and if yes any advice on how to correct things.

    It could be a typo..it always happens with great uscis...

    Wait until you get receipts/actual I-797 approval notice..



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  • pappu
    07-20 09:25 AM
    No, only contiguous H1-B renewals(after 3 years or yearly extensions after 6 years) are exempted from the cap. If you go back to school and apply for a fresh H1, then it is very much counted against the cap. Apart from falling back to H4 or F2(if you are married and your spouse is on H1/F1), i dont see too many options if you cannot get one of the masters quota H1. BTW, if you dont have an OPT and are out of school, then how are you still here ?
    If the company is multinational, ask them to give you a foriegn posting for a year and then you can come back on a fresh new H1B visa or L1 visa.





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  • GCard_Dream
    10-05 12:33 PM
    Dream on. I have been trying it since inception but have never won. Well, that's why it's called a lottery.

    On the flip side, I know people who have gotten selected in DV the very first time. Like you said, that's why it's called a lottery. Anything can happen.

    Does anyone know if it makes any difference if you file early or late? I know it's supposed be completely random but does anyone have any theory on how you might have a better chance? My take is that if you file too early (first few days) and if (with a big if) there is a bug in system then your application might get lost. So let the bugs be fixed in first few days and then file.



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  • pappu
    07-30 11:38 AM
    I do not doubt that these calls serve a purpose. What I am not very happy about is what transpires after the call. I look for some kind of gratification or closure after a certain issue has been raised. When we participate in such calls with Ombudsman, and even when individuals focus on their own issues, it would not be too difficult to identify some of the generic problems. From the calls this time and the past one, I would be surprised it they did not see customer service and processing times as major issues. Not to say these are high priority problems but that most likely would be the summary of two calls.

    But, what happens after that? We do not see what procedures are in place/discussions to rectify these problems.

    Thats where I think calls/meeting with USCIS local or DC body could help. Thanks for pointing out that such meetings are already in the works. I will defer my discussion to my local chapter. Thanks.

    I agree.
    Maybe this is something our community can ask Ombudsman's office so that after calls, we can know any follow up action and status on the 'issues' raised during the call.





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  • glus
    11-06 09:06 AM
    Hi

    I my PD is July 2003 EB3 (India).

    My I140 was approved in 2006 and had applied for 485, EAD, A/P in July 2007 like most of you. Yesterday LUD on my approved I140 and 485, EAD, A/P applications in USCIS changed after months. But now my approved I140 status has changed to
    What is even more surprising is that it also says This is incorrect since i got the approval notice in Nov 2006.

    I have NOT done any labor substitution or anything like that.

    As usually our corporate lawyer and HR were useless and think this is just some system issue at USCIS. Did anyone else see this before? I was looking for other threads but couldn't find anyone else having similar issues.

    Immigration gurus - any suggestions/comments? Is this normal?

    Thanks!

    Hi PSN,
    Please do not worry. I have seen this happening with one of my friend's I-130. Although a different application, his status suddenly changed to "pending" from approved years ago. He took infopass and they told him it was a system glitch. A few days later after infopass his status reversed back to "approved." I would take info pass, along with approval notice and just explain the situation. Do not worry until you know the reason. Also, do not think it is some kind of an investigation. When USCIS does investigations on approved cases, the status shows "Case re-opened". Let us know what they told you after infopass.





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  • ivar
    02-17 09:15 PM
    Do I need recent salary slips for transfer ?

    Yes you need paystubs. What your employer says when you ask the same question you are asking here on the forum. That your H1 expires 2009, your project gets over in Mar 09, how he will u give paystubs? what does he say?





    va_dude
    03-31 01:11 PM
    sorry to hear about ur situation.

    but just a quick note, it is ridiculously expensive to have a child in this country without your wife being covered by med insurance. the costs can be too high. so try to get insurance for them asap.

    good luck.





    Winner
    05-14 10:49 AM
    Did my part for the month.

    Subscription Number: S-42J63140****



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