Good News from India

[Originally posted on goofyblog 4.3.07]

From Daily Reckoning Australia:

Last week, we met with our new partners from India. One thing that surprised us was the Indian labour market:

“Yes…there are more than a billion people in India…” said our partner, “but just go and try to find someone. The labor market is very tight. People who have been to business school - if they’ve been to a good one - can get a job anywhere. Not just in India, but almost anywhere in the world. So their salaries are up at world levels. If you want someone to sweep your driveway…yes, that will be very cheap. But if you want someone to do the kind of work we do…well, you will pay almost as much as you would in America. Salaries are rising fast.”

This from Associated Press:

“An annual survey by Hewitt Associates revealed that Indian salaries are likely to rise an average 14.5 percent in 2007, with banks and financial services companies offering the biggest hikes.