Wednesday, June 29, 2005
The Life Sciences in New York State: More on India
I just started to cover one more blog: The Life Sciences in New York State.
And here comes the first noteworthy post from there.
The Life Sciences in New York State: More on India: Having an MBA, this one really hit close to home. Quoting from Prestowitz, page 100:
Morgan Stanley long ago moved its back office operations to India to take advantage of the time difference and Indian salaries. Recently, however, it has moved about fifty of its analysts to India as well. Analysts are MBAs who do research and analysis of corporate financial statements, business plans, and execution in order to make investment recommendations on various stocks and bonds....guys who do it earn $80,000 a year and up in New York...Their American managers told me they (Morgan Stanley India) also work harder and make fewer errors while earning only $20,000 a year. [Emphasis added by me]
June 29, 2005 | Permalink
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Why pay $80K a year for crap (investment research) when you can pay $20 K a year for crap. Still the same crap, just a lot cheaper
Posted by: josh | Jun 29, 2005 4:27:40 AM
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