kuhelica2000
10-18 08:58 PM
Did you have to change your address while you switched jo?. And if you had changed address, did you inform USCIS. I am trying to find out if address chnge is what triggers RFE for job switch. Also were you on H1B or using EAD with previous employer.
I changed jobs early this year with a 20% pay cut and with different titles and with different client type (private vs public). Got GC last month. No RFEs. I did not inform USCIS.
Before switching jobs, I checked with my attorney and made sure that I am covered, made sure that my previous employer will not revoke my approved I-140 and made sure that my current employer will cooperate with the process. Last month my GC got approved.
Good luck.
I changed jobs early this year with a 20% pay cut and with different titles and with different client type (private vs public). Got GC last month. No RFEs. I did not inform USCIS.
Before switching jobs, I checked with my attorney and made sure that I am covered, made sure that my previous employer will not revoke my approved I-140 and made sure that my current employer will cooperate with the process. Last month my GC got approved.
Good luck.
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nozerd
04-16 03:02 PM
I love H TOWN
Moving here is a decision you will not regret. Its probably the best place to live in the US if you take all factors into consideration.
As far as hot and humid - dont forget everything is Air Conditioned and even in the summers early mornings are not bad (if you are the outdoors type).
If you have any questions do let me know
Moving here is a decision you will not regret. Its probably the best place to live in the US if you take all factors into consideration.
As far as hot and humid - dont forget everything is Air Conditioned and even in the summers early mornings are not bad (if you are the outdoors type).
If you have any questions do let me know
h1techSlave
08-05 12:18 PM
The fee is for processing your application, which they did. So there is no provision for a refund.
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Wish_Good
06-22 06:04 PM
Hi Attorney's,
Thanks for this excellent community service. Which will help lot
of people like me who are stuck with the Immigration/USCIS Issues/Errors.
My Sincere thanks for responses to my earlier posting.
Company A: Labor approved in Dec 2006. Applied I-140 in June 2007
and got RFE regarding my Educational Transcripts Which was
responded in time and USCIS received on Dec 5, 2007. Then Got EAD
and AP approved. On Apr3 2008 I-140 Denied (I-140 was denied -
due to 3yr degree) then I-485 denied on June 26th 2008. So, First
applied MTR for I-140 which was denied on Feb,2009. Then applied
one more MTR (Appeal)for I-140 on March 13th, 2009 (check cashed
by USCIS... receipt copy not yet received).
Suddenly in the recent past month I see that, My I-485 status
updated saying -Transferred and now pending @ Texas service center
(got a notice). So, I applied EAD on June 4th 2009 based on this New Status.
But "When I was on my 7th year of H-1B (valid upto Apr 2009)" jumped (transfered my H1B) to Company B.
Company B: Before I join this company B. They already applied my Labor (GC)
and got approved on June 24, 2008. Then applied H1 Transfer and got approved (valid upto July 13th 2009) and joined this company. Once I joined this company they applied my I-140 and got approved in Jan 2009. Based on this I applied for H1 extension for 3 years. But USCIS denied my H1 and H4 with "Denial Reason: I-485 is denied in June 2008. So, I am not eligible under 104(c) or 106 of AC21 act". Infact we asked extension based on Approved New I-140 of company B. But USCIS denied based on Old company A's I-485. It looks like a real error by USCIS.
Now Applied MTR(Appeal) on H1 and H4 deniad on Apr 17 2009 and waiting for response.
Looking into this.
My Humble request Please give your valuable suggestion. What would be my next step to be in legal status and continue my job. Iam in deep dialemma and verymuch depressed.
Please help me.
Thanks a Lot in Advance.
Thanks for this excellent community service. Which will help lot
of people like me who are stuck with the Immigration/USCIS Issues/Errors.
My Sincere thanks for responses to my earlier posting.
Company A: Labor approved in Dec 2006. Applied I-140 in June 2007
and got RFE regarding my Educational Transcripts Which was
responded in time and USCIS received on Dec 5, 2007. Then Got EAD
and AP approved. On Apr3 2008 I-140 Denied (I-140 was denied -
due to 3yr degree) then I-485 denied on June 26th 2008. So, First
applied MTR for I-140 which was denied on Feb,2009. Then applied
one more MTR (Appeal)for I-140 on March 13th, 2009 (check cashed
by USCIS... receipt copy not yet received).
Suddenly in the recent past month I see that, My I-485 status
updated saying -Transferred and now pending @ Texas service center
(got a notice). So, I applied EAD on June 4th 2009 based on this New Status.
But "When I was on my 7th year of H-1B (valid upto Apr 2009)" jumped (transfered my H1B) to Company B.
Company B: Before I join this company B. They already applied my Labor (GC)
and got approved on June 24, 2008. Then applied H1 Transfer and got approved (valid upto July 13th 2009) and joined this company. Once I joined this company they applied my I-140 and got approved in Jan 2009. Based on this I applied for H1 extension for 3 years. But USCIS denied my H1 and H4 with "Denial Reason: I-485 is denied in June 2008. So, I am not eligible under 104(c) or 106 of AC21 act". Infact we asked extension based on Approved New I-140 of company B. But USCIS denied based on Old company A's I-485. It looks like a real error by USCIS.
Now Applied MTR(Appeal) on H1 and H4 deniad on Apr 17 2009 and waiting for response.
Looking into this.
My Humble request Please give your valuable suggestion. What would be my next step to be in legal status and continue my job. Iam in deep dialemma and verymuch depressed.
Please help me.
Thanks a Lot in Advance.
more...
chanduv23
06-28 02:46 PM
I have an important question that I need to ask here. What is going to be Job title in employment verification letter. For example if I work in company as a Software consultant and H1B states that I am Programmer Analysts and my PERM labor has stated Software Programmer Engineer.
So out of these 3 which one will going to be in my employment letter. I am unable to get in touch with attorney thru company and our HR doesnt know what to write in Employement letter. Any advise from people who already got their employement letter from their employer.
Thanks
INeedAllGreen
Use your PERM labor one - thats the safest, I have used that - Attorney signed off saying that is right
So out of these 3 which one will going to be in my employment letter. I am unable to get in touch with attorney thru company and our HR doesnt know what to write in Employement letter. Any advise from people who already got their employement letter from their employer.
Thanks
INeedAllGreen
Use your PERM labor one - thats the safest, I have used that - Attorney signed off saying that is right
amulchandra
05-10 02:16 PM
Actually I am using IE.
Thank you
Indira
Thank you
Indira
more...
crystal
07-04 10:09 PM
Are sure about whether you can go for stammping to canada when you are going for first time stamping? I think you need to go to india where they can check your education credentials. If you have done masters/bachelors in u.s then only you can go to canada i guess . I am not very sure about it though. I read it somewhere.
When i changed from F-1 to H-1B, my employer filed my I-129 as if i had a Masters, then i changed employers , my second employer filed my I-129 under my Bachelors only. There was also a gap of my H-1 Activation and F-1.
For the semester starting august i did not pay the fee, since my H-1 was approved an H-1 was Active from October.
i think my approval will depend on my Visa officer nad i will try my luck in dec and i am planning to go to canada for my stamping and in any case i get it or not get it i will fly to india from canada.
i will also talk to a lawyer before leaving to stamping regarding what will happen if cant come back to US in 4 months, regaring what happens to my credit and loans if my stamping gets rejected.
When i changed from F-1 to H-1B, my employer filed my I-129 as if i had a Masters, then i changed employers , my second employer filed my I-129 under my Bachelors only. There was also a gap of my H-1 Activation and F-1.
For the semester starting august i did not pay the fee, since my H-1 was approved an H-1 was Active from October.
i think my approval will depend on my Visa officer nad i will try my luck in dec and i am planning to go to canada for my stamping and in any case i get it or not get it i will fly to india from canada.
i will also talk to a lawyer before leaving to stamping regarding what will happen if cant come back to US in 4 months, regaring what happens to my credit and loans if my stamping gets rejected.
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gbeltrao
08-30 04:42 PM
My wife had her fingerprinting done about a year ago. Same happened for the medical exam. I had my I-140 approved and we're now on the I-485 stage. Yesterday my wife received a letter scheduling an appointment to do a biometric at our local uscis office... what is this biometrics about since the med exam and fingerprints are done? Would this be for the final interview or are there an specific letter for this? :confused:
more...
sumanitha
07-12 05:35 PM
Take one by one and try to answer properly.
1. What is CIS is returning visa #'s to DOS.?
There are some unused and unallocated visa numbers reported by various means. Few# got reported by consulate abroad and few reported by USCIS.
2. How USCIS and Consulate can report unused Visa #'s?
You might be reading the I-485 rejection cases by CIS and Consulate
You might be hearing about USCIS is unable to process the applications received
You might be hearing people could not able to file whose cased were current in June.
All these Visa #'s are reported back
3. To me around 20000 such numbers are available for this years quota
4. Can my applications sneak into this #?
Answer is uncertain.
If your have an old priority dates then probability is high
If you have recent 05/06/07 priority date then there could be issues in issuing an EAD. People whose PD are old will take legal action against USCIS of they do not consider their case and approve yours.
5. What would August VB have?
If they do not approve any July2 filling then here is what they will do
a) Retain petition with old PD and adjust them in Aug
b) Reject all I-485 application for candidates recent PD
They are making a decision fast, that the reason Aug VB is not yet published
6. Will USCIS reverse the new decision?
Answer is NO. Why? There is no such pattern in USCIS behavior and July time is running out.
7. How about Law suite?
:) Do not worry there is a slick chance. All govt depts. are inter related.
Don�t you think Justice dept does not know about this before issuing the reversal notification in July. All CIS communication also being forwarded to Justice dept.
State--> Immigration --> Justice are all same with different names.
I have no hope from this process. It's just building a fake hope.
8. People are still filling the application.
Candidates are filling because of advice of their attorney. When you deal with the attorney directly they will encourage you to apply because they will get the money now.
There is no guarantee that you will process your application from XYZ law firm in Oct.
If you file now through them, you are bonded with him until you hear some good news from CIS.
There is a say in India.. Always try to out of trouble and Attorney. They will tell everything is possible.
Another thing after July 16th, I am not sure if they can charge money to you directly. They will rush you to pay before just 16th.
Declaimer: I am not an attorney or do not have any background of law. This is my conclusion from reading IV and many other forums. My PD is 2007 EB2.
I dont think whatever you are saying is true...
State--> Immigration --> Justice are all same with different names.
Please be careful while you post since lot of people are viewing it.
1. What is CIS is returning visa #'s to DOS.?
There are some unused and unallocated visa numbers reported by various means. Few# got reported by consulate abroad and few reported by USCIS.
2. How USCIS and Consulate can report unused Visa #'s?
You might be reading the I-485 rejection cases by CIS and Consulate
You might be hearing about USCIS is unable to process the applications received
You might be hearing people could not able to file whose cased were current in June.
All these Visa #'s are reported back
3. To me around 20000 such numbers are available for this years quota
4. Can my applications sneak into this #?
Answer is uncertain.
If your have an old priority dates then probability is high
If you have recent 05/06/07 priority date then there could be issues in issuing an EAD. People whose PD are old will take legal action against USCIS of they do not consider their case and approve yours.
5. What would August VB have?
If they do not approve any July2 filling then here is what they will do
a) Retain petition with old PD and adjust them in Aug
b) Reject all I-485 application for candidates recent PD
They are making a decision fast, that the reason Aug VB is not yet published
6. Will USCIS reverse the new decision?
Answer is NO. Why? There is no such pattern in USCIS behavior and July time is running out.
7. How about Law suite?
:) Do not worry there is a slick chance. All govt depts. are inter related.
Don�t you think Justice dept does not know about this before issuing the reversal notification in July. All CIS communication also being forwarded to Justice dept.
State--> Immigration --> Justice are all same with different names.
I have no hope from this process. It's just building a fake hope.
8. People are still filling the application.
Candidates are filling because of advice of their attorney. When you deal with the attorney directly they will encourage you to apply because they will get the money now.
There is no guarantee that you will process your application from XYZ law firm in Oct.
If you file now through them, you are bonded with him until you hear some good news from CIS.
There is a say in India.. Always try to out of trouble and Attorney. They will tell everything is possible.
Another thing after July 16th, I am not sure if they can charge money to you directly. They will rush you to pay before just 16th.
Declaimer: I am not an attorney or do not have any background of law. This is my conclusion from reading IV and many other forums. My PD is 2007 EB2.
I dont think whatever you are saying is true...
State--> Immigration --> Justice are all same with different names.
Please be careful while you post since lot of people are viewing it.
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Dhundhun
11-21 04:57 PM
While going out staple all of them together and give it it Airlines.
Airline has no problem in taking any of one (valid dates or expired dates), but the moment they see more than one, they will take all and staple it together. It is sent back for records (I am not sure where/how that is maintained and what is impact of giving in bits and pieces or loosing it, while having multiples).
But my lawyer as well as airline told me clearly to give all of the I94 together.
If you lost one (even to airlines), it may be worth informing USCIS, to avoid any inconveniences later. (Note: I am not legal expert and this is not a legal advise)
Airline has no problem in taking any of one (valid dates or expired dates), but the moment they see more than one, they will take all and staple it together. It is sent back for records (I am not sure where/how that is maintained and what is impact of giving in bits and pieces or loosing it, while having multiples).
But my lawyer as well as airline told me clearly to give all of the I94 together.
If you lost one (even to airlines), it may be worth informing USCIS, to avoid any inconveniences later. (Note: I am not legal expert and this is not a legal advise)
more...
sanprabhu
07-26 11:20 AM
I already sent the card to Senator... I urge everybody else to do the same.
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supreet
05-15 12:46 AM
Hello All,
I have read that it is not advisable to take any public assistance (like file for Unemployment) while on EAD.
I am a August 2007 filer with I140 approved and 485 filed > 180 days. I was recently laid off and I am planning to take COBRA for my health insurance needs. I have got some paperwork regarding ARRA Premium Reduction (American Recovery and Reinvestment Act) where it says if your job is involuntarily terminated you can get 65% payments for your COBRA payment from ARRA Premium Reduction program.
My questions for the experts is, is it advisable to take this assistance? Can it cause a RFE on my 485?
Thanks for all your answers.
S
I have read that it is not advisable to take any public assistance (like file for Unemployment) while on EAD.
I am a August 2007 filer with I140 approved and 485 filed > 180 days. I was recently laid off and I am planning to take COBRA for my health insurance needs. I have got some paperwork regarding ARRA Premium Reduction (American Recovery and Reinvestment Act) where it says if your job is involuntarily terminated you can get 65% payments for your COBRA payment from ARRA Premium Reduction program.
My questions for the experts is, is it advisable to take this assistance? Can it cause a RFE on my 485?
Thanks for all your answers.
S
more...
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WeShallOvercome
07-23 04:51 PM
well if u dont have receipt hance no EAD/AP, you are at their mercy forever.
not forever !!!!!!
What if I change employer after 180 days and sign a new G-28 either removing that lawyer or signing for a new lawyer?
If they could keep us at their mercy FOREVER, what is AC21 for ?
not forever !!!!!!
What if I change employer after 180 days and sign a new G-28 either removing that lawyer or signing for a new lawyer?
If they could keep us at their mercy FOREVER, what is AC21 for ?
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return_to_india
10-04 11:07 AM
Just landed from India to the states with permanent residency and i got asked all the stupid questions you can imagine, atleast the immigration officer gave me some good amusement after a long trip
One of the most intelligent questions is this
How do you get money to buy a plance ticket if you were in india for few months
What all other questions, like "Are you still working for the GC sponsored employer" ?
One of the most intelligent questions is this
How do you get money to buy a plance ticket if you were in india for few months
What all other questions, like "Are you still working for the GC sponsored employer" ?
more...
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amslonewolf
01-26 11:52 AM
This is an important step zero. I am sure Reid will push this through in the Senate.
But in this congress it's all about what the House does.. Need to see the House version of this bill..
But in this congress it's all about what the House does.. Need to see the House version of this bill..
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singhsa3
07-12 02:29 PM
Hi Man,
That thread is is informative but does not directly answers the question, as it covers variety of items. Personally, I just want know if any one who filled in July got rejected , if yes, what are the details. If folks are willing to stick to responding only if their 485 in July got rejected, with details. I would recommend to keep this thread.
http://immigrationvoice.org/forum/showthread.php?t=6319
In this thread people are discussing mostly for the July 485 cases, so the name is not exactly the "485 rejection", but similar situations are discussed here.
Thanks
That thread is is informative but does not directly answers the question, as it covers variety of items. Personally, I just want know if any one who filled in July got rejected , if yes, what are the details. If folks are willing to stick to responding only if their 485 in July got rejected, with details. I would recommend to keep this thread.
http://immigrationvoice.org/forum/showthread.php?t=6319
In this thread people are discussing mostly for the July 485 cases, so the name is not exactly the "485 rejection", but similar situations are discussed here.
Thanks
more...
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walking_dude
11-21 11:33 AM
You are probably refering to Cubans in Cuba and their leader Castro.
I'm refering to Cubans in Florida who are a solid 'vote bank' for Republican Party. They have even become Senators and Congressman, without sacrificing their Cuban heritage.
No they are NOT if you are talking about immigration!They are highly passionate and vocal in support for their own country and its leader (well are we???).
I'm refering to Cubans in Florida who are a solid 'vote bank' for Republican Party. They have even become Senators and Congressman, without sacrificing their Cuban heritage.
No they are NOT if you are talking about immigration!They are highly passionate and vocal in support for their own country and its leader (well are we???).
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jcrajput
06-09 11:09 AM
Can we have a visa stamping in other country than India if you are in USA? or we must need stamping from India?
Appriciate your help.
Thanks
Appriciate your help.
Thanks
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amsh
08-21 05:23 PM
I had got my EB3 priority date recaptured in EB2 I140 filed latter .After doing this ,I asked my lawyer to interfile the case (ask them write a letter to USCIS to convert my earlier filed I485 application in EB3 to EB2) .
My attorney said that ,this can only be done when priority date is current.But some people in similar condition ,told me that this interfile application can be written, even if the priority date is not current as there is no written procedure for it specified by USCIS .
And it is better to send that application ASAP ,as it might help my green card processing time ,since after getting that interfile application ,USCIS might go ahead and do the other procedures on it like name check and other check etc .My priority date is in EB2 India and 2 months away from this month priority dates announced by USCIS.
I have two questions
1)can the interfile application for I485 ,as specified above ,be send to USCIS ,even if the priority date is not current .
2)can it be send twice that is now when priority date is not current and latter when priority date becomes current ?
Best regards and thanks for helping !
My attorney said that ,this can only be done when priority date is current.But some people in similar condition ,told me that this interfile application can be written, even if the priority date is not current as there is no written procedure for it specified by USCIS .
And it is better to send that application ASAP ,as it might help my green card processing time ,since after getting that interfile application ,USCIS might go ahead and do the other procedures on it like name check and other check etc .My priority date is in EB2 India and 2 months away from this month priority dates announced by USCIS.
I have two questions
1)can the interfile application for I485 ,as specified above ,be send to USCIS ,even if the priority date is not current .
2)can it be send twice that is now when priority date is not current and latter when priority date becomes current ?
Best regards and thanks for helping !
alterego
09-11 03:19 AM
After reading this, I was not sure whether that 140K included the Labour backlogs. I know the BECs have been a lot more active lately and have been pumping out approvals/denials more rapidly.
If infact 140K backlogs do include them, then perhaps that would be a good thing, since atleast then we can perhaps begin to get our arms around this and understand how long our waits will actually be.
One thing is for sure they have definitely stepped up the speed of things at the USCIS with other filings after retrogression hit.
If infact 140K backlogs do include them, then perhaps that would be a good thing, since atleast then we can perhaps begin to get our arms around this and understand how long our waits will actually be.
One thing is for sure they have definitely stepped up the speed of things at the USCIS with other filings after retrogression hit.
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
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