jliechty
July 25th, 2005, 08:29 PM
This is my first attempt...
Flat conversion with ACR (exp: +0.30, shadows: 0, brightness: 50, congrast: 25, sat. 0) into the sRGB color space (no need to work in a wider space as nothing was clipping with sRGB)
Light curve to increase contrast slightly
USM (amount 17%, radius 50 pixels, threshold 0) for local contrast
Image resize down for web with Bicubic Sharper
Smart Sharpen (amount 59%, radius 0.3, remove lens blur, more accurate)
convert from RGB/16 to RGB/8 and save as JPEG quality 9
That was done in a few minutes... No guarantee that I could do better if I spent more time on it, and caveat viewer that my monitor isn't calibrated at the moment because I'm waiting on XP x64 drivers from Gretag Macbeth, so if I were to guess, I would speculate that on a properly calibrated monitor the shadows wouldn't be quite as deep as I see them here, but that's a WAG.
I may try again tomorrow (er, later today - it's past my bedtime) with a bit more on the "creative" side - dodging, burning, and other selective adjustments.
Flat conversion with ACR (exp: +0.30, shadows: 0, brightness: 50, congrast: 25, sat. 0) into the sRGB color space (no need to work in a wider space as nothing was clipping with sRGB)
Light curve to increase contrast slightly
USM (amount 17%, radius 50 pixels, threshold 0) for local contrast
Image resize down for web with Bicubic Sharper
Smart Sharpen (amount 59%, radius 0.3, remove lens blur, more accurate)
convert from RGB/16 to RGB/8 and save as JPEG quality 9
That was done in a few minutes... No guarantee that I could do better if I spent more time on it, and caveat viewer that my monitor isn't calibrated at the moment because I'm waiting on XP x64 drivers from Gretag Macbeth, so if I were to guess, I would speculate that on a properly calibrated monitor the shadows wouldn't be quite as deep as I see them here, but that's a WAG.
I may try again tomorrow (er, later today - it's past my bedtime) with a bit more on the "creative" side - dodging, burning, and other selective adjustments.
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archanais
07-04 06:33 PM
I am ina worst situation. Prior employer is not ready to give Future employement letter inspite I have paid $8650 in GC processing cost and $5500 in transeferring H1b Visa and renewing the H1b. They even cancelled my H1b once I resigned.They have earned lot of money during my almost 2yrs of stay with them.
Domino
09-12 02:58 PM
Hello,
I have a question about obtaining and O-1 visa (or possibly EB-1 Green Card). I did hire an attorney , but would like another look at the situation.
I am a musician, about 2 months after the end of OPT, presently in USA, with a PhD and many awards so I should qualify for O-1.
As advised, I needed an employer to sponsor the visa. My attorney suggested that Part-time is not recommendable at all. I researched and could not find if the position need to be necessarily Full-time? I have only a part time job currently and many freelancing opportunities.
Also, since the nature of my profession is freelancing (meaning I need to perform, teach...on many different places), can I be self-employed for O-1?
We already filed the petition for O-1 (with the part-time employer as a sponsor) and the current status is: Additional Information/Proof Needed. We still don't have the letter stating what is needed, but I worry it's not a good sign. What do you think?
And lastly, IF it happens that O-1 is not approved, can I still apply for EB-1 Green Card?
Thank you for your answers!
I have a question about obtaining and O-1 visa (or possibly EB-1 Green Card). I did hire an attorney , but would like another look at the situation.
I am a musician, about 2 months after the end of OPT, presently in USA, with a PhD and many awards so I should qualify for O-1.
As advised, I needed an employer to sponsor the visa. My attorney suggested that Part-time is not recommendable at all. I researched and could not find if the position need to be necessarily Full-time? I have only a part time job currently and many freelancing opportunities.
Also, since the nature of my profession is freelancing (meaning I need to perform, teach...on many different places), can I be self-employed for O-1?
We already filed the petition for O-1 (with the part-time employer as a sponsor) and the current status is: Additional Information/Proof Needed. We still don't have the letter stating what is needed, but I worry it's not a good sign. What do you think?
And lastly, IF it happens that O-1 is not approved, can I still apply for EB-1 Green Card?
Thank you for your answers!
2011 Black Purple
AB1275
12-19 04:08 PM
Hello friends....
I just spoke to my lawyer....she said I could file an MTR first since its response is faster.
In the MTR she will state that W-2 can be received only in Jan and hence we will submit the evidence in January 2009. She thinks with the W-2 being in line with prevailing wage rate, it should be an open and shut case. So technically we are filing an MTR without new evidence but mentioning that there will be new evidence.
I counter argued that they can deny saying u should have submitted paystubs - why wait for W-2. She said yes they can said that but we did not submit paystubs and we can then appeal.
I discussed with her that will i be given an option of Appeal if this MTR is denied. She said yes and if they dont we can go to court...They cannot deny the right to appeal an MTR. Is this true?
Your input on this please!!!!
I just spoke to my lawyer....she said I could file an MTR first since its response is faster.
In the MTR she will state that W-2 can be received only in Jan and hence we will submit the evidence in January 2009. She thinks with the W-2 being in line with prevailing wage rate, it should be an open and shut case. So technically we are filing an MTR without new evidence but mentioning that there will be new evidence.
I counter argued that they can deny saying u should have submitted paystubs - why wait for W-2. She said yes they can said that but we did not submit paystubs and we can then appeal.
I discussed with her that will i be given an option of Appeal if this MTR is denied. She said yes and if they dont we can go to court...They cannot deny the right to appeal an MTR. Is this true?
Your input on this please!!!!
more...
jotv
11-04 01:37 AM
Hai ,
Sorry For The Late Reply and Thank You For All Your Responses.
I Need The Details About " Medical Transcription " Job .
Because Some One Told Me That We Will Get That Job Quickly .thats Why I Am Asking The Details . If You Know Please Respond To This Message .thank You In Advance.
Sorry For The Late Reply and Thank You For All Your Responses.
I Need The Details About " Medical Transcription " Job .
Because Some One Told Me That We Will Get That Job Quickly .thats Why I Am Asking The Details . If You Know Please Respond To This Message .thank You In Advance.
Ann Ruben
07-05 09:02 PM
It is certainly possible to continue the green card process in your situation. The key requirement is that once your PD becomes current you MUST have a full time permanent job offer in the US, which you intend to accept.
If you abandon your I-485 and pursue consular processing, that position MUST be in the same position and with the same employer that obtained your labor certification. AC-21 DOES NOT APPLY TO CONSULAR PROCESSING. If you maintain either your A/P validity or H-1 visa validity, as long as the position is in the "same or similar occupation", it can be with any US employer.
Keep in mind that even if your family ends up abandoning their I-485's, as long as you do not abandon your I-485 they will be able to "follow to join" you once your AOS is granted.
Also keep in mind the possibility of EB-1 eligibility if your position with the new company can be characterized as managerial or executive and you are able to secure a transfer back to the US in a managerial or executive position after working in India for at least one year.
I hope this information is helpful,
Ann
If you abandon your I-485 and pursue consular processing, that position MUST be in the same position and with the same employer that obtained your labor certification. AC-21 DOES NOT APPLY TO CONSULAR PROCESSING. If you maintain either your A/P validity or H-1 visa validity, as long as the position is in the "same or similar occupation", it can be with any US employer.
Keep in mind that even if your family ends up abandoning their I-485's, as long as you do not abandon your I-485 they will be able to "follow to join" you once your AOS is granted.
Also keep in mind the possibility of EB-1 eligibility if your position with the new company can be characterized as managerial or executive and you are able to secure a transfer back to the US in a managerial or executive position after working in India for at least one year.
I hope this information is helpful,
Ann
more...
tiinap
02-01 08:22 PM
Right, the Senate is definitely the key. Because after all, right now we have a president who has always supported expanding legal immigration and look how far that has taken us in the last 8 years :).
Still, the President has important powers:
(S)he can set the course on this issue, and continue to push for CIR and shape the discussion in a positive direction, or just neglect this topic.
More importantly, the President has veto powers. If our president will be Romney, I'm afraid he'd veto bills that do anything to expand legal immigration, and just ramble on about the fence. If our president will be Hillary, I'm afraid she might gladly sign a bill that wipes out the H1B program (she has said that she wants to have a temporary worker program for agriculture only) or cuts back on EB immigration even further.
I think our fates do depend to some extent on who the next President will be. I'm just curious who should I be rooting for and who should I recommend that my U.S. citizen friends vote for, because it's hard to make sense of their message.
Still, the President has important powers:
(S)he can set the course on this issue, and continue to push for CIR and shape the discussion in a positive direction, or just neglect this topic.
More importantly, the President has veto powers. If our president will be Romney, I'm afraid he'd veto bills that do anything to expand legal immigration, and just ramble on about the fence. If our president will be Hillary, I'm afraid she might gladly sign a bill that wipes out the H1B program (she has said that she wants to have a temporary worker program for agriculture only) or cuts back on EB immigration even further.
I think our fates do depend to some extent on who the next President will be. I'm just curious who should I be rooting for and who should I recommend that my U.S. citizen friends vote for, because it's hard to make sense of their message.
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LongJourny
01-20 07:25 PM
Is it ok to mention the last date of my previous employment at august 23rd. The employment letter I receive from company A states the same. Last time I got my H1 visa stamped using same information. However, this time I am going to a different consulate and not sure what could be the out come. I also have advance parole with me. If worst happens can I use advance parole?
more...
FinalGC
10-30 03:46 PM
I was reading the USA Today articles and I have a suggestion...guys please try to do spell check before you submit to such forums. It looks bad on us especially when we call ourselves skilled immigrants.
One glaring error that I saw was this guy with a MBA from Stanford Univ and he wrote it as "Standford Univ"......Is there a univ called "Standford"???? I tried googling it but did not find it...I hope it was not somebody from our group....
One glaring error that I saw was this guy with a MBA from Stanford Univ and he wrote it as "Standford Univ"......Is there a univ called "Standford"???? I tried googling it but did not find it...I hope it was not somebody from our group....
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vkrishn
08-28 10:02 PM
Not only mine. There are many in the same scenario. Its the feeling of being close to the finishline but stll can't cross it. Sudden Influx of anything let it be USCIS is not good.
more...
vvincent72
08-16 04:59 PM
As per me, you really have to do "nothing"
1. You continue working with your present employer
2. Let the contract company get your H1B approved
3. After getting the new H1b Approval tell the contracting company that you will not join till 3 months as you are working on some important project, and able to join them ASA the project is complete
4. Wait for 6 months
5. After 6 months you will get EAD.
I did somewhat the same as above and it did work, a contracting company applied for my H1B but didn't join them for some technical reasons
The best part of this is you will get a CAP exempt H1B, which you can use it, if you run in trouble with your I-485
Thanks for your reply guys.! Looks like the bottom line you guys state is that - does not matter if the H1B is not withdrawn before Oct. 1st 2007 by the contracting company. It should not be a big deal to me when and how they withdraw this right.?
All that i may need from the employer is the letter they write to USCIS stating to cancel this petition. Do i have to keep a copy of the fedex receipt that they may use to send this out to USCIS. Just evidence that USCIS recd. this package.! Since USCIS will not send anything back that they actually withdrew this petiton what kind of proof / evidence do i need to keep with me for furture reference.?
Does this hanging I-129 petition affect the 485 / EAD that we have filed.?
Thank you!
1. You continue working with your present employer
2. Let the contract company get your H1B approved
3. After getting the new H1b Approval tell the contracting company that you will not join till 3 months as you are working on some important project, and able to join them ASA the project is complete
4. Wait for 6 months
5. After 6 months you will get EAD.
I did somewhat the same as above and it did work, a contracting company applied for my H1B but didn't join them for some technical reasons
The best part of this is you will get a CAP exempt H1B, which you can use it, if you run in trouble with your I-485
Thanks for your reply guys.! Looks like the bottom line you guys state is that - does not matter if the H1B is not withdrawn before Oct. 1st 2007 by the contracting company. It should not be a big deal to me when and how they withdraw this right.?
All that i may need from the employer is the letter they write to USCIS stating to cancel this petition. Do i have to keep a copy of the fedex receipt that they may use to send this out to USCIS. Just evidence that USCIS recd. this package.! Since USCIS will not send anything back that they actually withdrew this petiton what kind of proof / evidence do i need to keep with me for furture reference.?
Does this hanging I-129 petition affect the 485 / EAD that we have filed.?
Thank you!
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Kodi
07-03 10:49 AM
ROW means Rest Of the World. That's countries other than India, China and Phil.
You're not from the above countries which is probably why you got approved so fast.
You're not from the above countries which is probably why you got approved so fast.
more...
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gc_chahiye
08-10 04:52 PM
Guys,
I am happy to share with you all that I applied my 485 on 1 week of June and it got approved today.
My PD was dec 2005. eb3. India.
Thought i would share with you all.:)
EB3/India Dec 2005 PD was not current in June, how did you manage to apply your 485? Something in your story is not adding up...
I am happy to share with you all that I applied my 485 on 1 week of June and it got approved today.
My PD was dec 2005. eb3. India.
Thought i would share with you all.:)
EB3/India Dec 2005 PD was not current in June, how did you manage to apply your 485? Something in your story is not adding up...
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s416504
12-04 02:23 PM
I think EAD doesn't give us any STATUS. EAD gives us authorization to work.
We can live legally with pending AOS status. And due to AC21 protection, AOS can't be denied.
I think ashkam is missing the main point here. You are on EAD which is based on an employment based GC application where you have to be employed all the time. You (EAD and people who are on H1) are not supposed to tell that are unemployed! Duh!
A people who are on H1 (same goes to people with EAD based on a employment based GC) and out of payroll for more than 28 days (not sure about the exact # of days, some says 42 days), you are out of status.
So think twice before you disclose that you are unemployed.
We can live legally with pending AOS status. And due to AC21 protection, AOS can't be denied.
I think ashkam is missing the main point here. You are on EAD which is based on an employment based GC application where you have to be employed all the time. You (EAD and people who are on H1) are not supposed to tell that are unemployed! Duh!
A people who are on H1 (same goes to people with EAD based on a employment based GC) and out of payroll for more than 28 days (not sure about the exact # of days, some says 42 days), you are out of status.
So think twice before you disclose that you are unemployed.
more...
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GCNirvana007
10-08 05:05 PM
GC is approved based on Good Faith that the sponsoring employer will employ you after GC is approved or you will work for sponsoring employer after GC is approved, if not then it could cause trouble for you during citizenship or your sponsoring employer could report to USCIS about the non-compliance--> This is legal term
But there is one way around it, join employer A and get yourself fired from the job then you're fine.
HTH
kris
Non-complaince only if i signed any saying i will be joining them after my GC or its by default?
But there is one way around it, join employer A and get yourself fired from the job then you're fine.
HTH
kris
Non-complaince only if i signed any saying i will be joining them after my GC or its by default?
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amitk81
09-19 04:48 PM
Here is my 2 cents.
Had an interview in US consulate in Mumbai late August.
Was asked just one question and the visa officer on counter-3 started talking with my wife about her life and our kid! they went on talking for 5-7 mins completely neglecting me or asking me a single question after the initial question.
After about 10 min she told my wife that you have been granted visa, we got our passports from VFS next day!
What I inferred from the conversation is that it is sometimes better to be the observer and not interfere :)
Don't worry you will receive your passport, but please remember next time don't speak until your are asked a question especially when there is a visa officer involved!
Amit
Had an interview in US consulate in Mumbai late August.
Was asked just one question and the visa officer on counter-3 started talking with my wife about her life and our kid! they went on talking for 5-7 mins completely neglecting me or asking me a single question after the initial question.
After about 10 min she told my wife that you have been granted visa, we got our passports from VFS next day!
What I inferred from the conversation is that it is sometimes better to be the observer and not interfere :)
Don't worry you will receive your passport, but please remember next time don't speak until your are asked a question especially when there is a visa officer involved!
Amit
more...
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perm2gc
01-07 03:17 AM
FYI:
http://www.cnn.com/2007/US/01/06/first.baby.ap/index.html
another reason to get a GC. although, toys r us reversed their decision, the whole incident kinda left a bad taste in the immigrant community. heck, they didn't ask for my GC when i bought toys in their store then why would they even bother about "citizenship" in their new year promotion. good thing they reversed it.
:(
http://www.cnn.com/2007/US/01/06/first.baby.ap/index.html
another reason to get a GC. although, toys r us reversed their decision, the whole incident kinda left a bad taste in the immigrant community. heck, they didn't ask for my GC when i bought toys in their store then why would they even bother about "citizenship" in their new year promotion. good thing they reversed it.
:(
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diptam
08-30 04:58 PM
Babu,
Very few folks are like you ! Guys like you fight for a cause - i understand your point.
Please help us by requesting your GC Aspirant friends in this country to participate in DC Rally on Sep 18th Tuesday.
Hearty Congratulation once again on your GC.
Thanks,
Diptam
Dear friends
I'm very excited to say that I got my green card approved. Thank you for all of your support.
My status change will not change a bit of my support to IV. I will continue to contribute what I contribute now, until we are sucessful. I'm not successful, until everyone of you is not successful in pursuing your green card. I hope and pray that my stand will motivate non contributing friends to contribute.
Friends and folks, we did not have any organization to support ourselves. So far we had to take anything shoved upon us. But the emergence of IV changed all that. Contribute and support IV. Because IV is our voice!!!
thanks
babu
Very few folks are like you ! Guys like you fight for a cause - i understand your point.
Please help us by requesting your GC Aspirant friends in this country to participate in DC Rally on Sep 18th Tuesday.
Hearty Congratulation once again on your GC.
Thanks,
Diptam
Dear friends
I'm very excited to say that I got my green card approved. Thank you for all of your support.
My status change will not change a bit of my support to IV. I will continue to contribute what I contribute now, until we are sucessful. I'm not successful, until everyone of you is not successful in pursuing your green card. I hope and pray that my stand will motivate non contributing friends to contribute.
Friends and folks, we did not have any organization to support ourselves. So far we had to take anything shoved upon us. But the emergence of IV changed all that. Contribute and support IV. Because IV is our voice!!!
thanks
babu
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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
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
vandanaverdia
09-09 03:13 PM
^^^ bump ^^^
crystal
03-28 04:20 PM
In the profile data EAD/AP dates are kind of overkill I guess, even though they are not mandatory fields. They add no/very little value to overall purpose.
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