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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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  • hmehta
    05-30 05:18 PM
    As such there is no fix rule on who should get the visa and who shouldn't! It all depends on the Consular officer's Judjement of the case.

    Can you list the documents that you sent and reason why the visa was denied?



    Recently I sponsored my sister and her family to visit us in Summer of 2006. I had sent all the papers as required for applying for visitors visa. But the application was denied as consular was not satisfied.

    Please suggest any ideas that could have helped in getting the visa. Since I was sponsoring her and taking full charge of her stay related expenses then why was it denied? What else is needed?

    Thanks





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  • satishku_2000
    08-02 02:54 PM
    ^^^^^





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  • lazycis
    12-27 04:53 PM
    Do you have to use / file AC-21 if your I-140 is approved (long back in 2005) and you have passed 180 days of i485 received date?

    You are automatically using AC21 if you are changing employers after 180 days. You may file AC21 letter/employment offer with the USCIS but you do not have to do it. It depends on your circumstances and preferences.



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  • lazycis
    12-27 04:53 PM
    Do you have to use / file AC-21 if your I-140 is approved (long back in 2005) and you have passed 180 days of i485 received date?

    You are automatically using AC21 if you are changing employers after 180 days. You may file AC21 letter/employment offer with the USCIS but you do not have to do it. It depends on your circumstances and preferences.





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  • vasired
    08-15 03:14 PM
    485 RD:6/29
    485 ND:7/25
    FP ND: 8/8
    FP Date:9/4



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  • gc_on_demand
    05-25 08:48 AM
    AFAIK DS 156 and DS !57 are no longer required. These have been replaced with DS 160.

    My last experience in Mumbai consulate was 2 years back after I changed job and went to India. My experience was very good -- not a single question asked . An Indian lady called me and said your Visa is issued. Collected Passport in evening at VFS Office (BTW, there is a very long queue for passport collection)

    However, I do not work for consulting company, never worked for any Desi Consulting and I already had a couple of H1 and L1 visa stamps in my passport.
    I am travelling again now but avoiding the hassle of stamping. Returning with current stamp whcih will be valid for 10 more days after my return (I already have the extended 797)


    I have I 797 valid til July 2011. Stamp is valid for same time. but my passport was expiring in June 2011 so I got I -94 valid until Nov 2010. My company is planing to apply for ext soon so I will get new I 797. with labor and I 140 approved I am hoping to get 1 or 3 years ext.

    Anyway so I will get ext from Nov 2010 to atleast Nov 2011. ( Worst case if I get one year only). I am full time with this company and never changed company in last 5 years. So my question is if I get new I 797 in Nov 2011, and old stamp which is valid until July 2011 can I travel india and come back with old stamp , new I 797 and new passport ?

    everything is from same company. Or Do I need to get new stamp since I will get new I 797 ?





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  • snathan
    09-02 10:41 AM
    Thanks GCDreamer and sbmallik.
    Are you saying that an H4 visa holder cannot work online for an Indian co. and earn Indian income while residing in the US?

    on H4, you can do only volunteer work without pay. Other than that you sleep or sit idle/watch TV.



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  • ss1026
    04-08 06:10 PM
    Hi,

    EAD cleared Oct 2007,Fp done Oct, 2007, AP dec12, 2008, recevd jan 12008

    No LUDS since sep 19, 2007

    db

    How does one find out if they had any LUD on their case. Looks like this is a indicator if the case was worked on.





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  • new_gc
    12-17 12:59 PM
    guys,

    I have a situation here....i travel a lot due to a contracting job and take my family with me...we shift every 6 months once...due to this we had to face a lot of hassle in receiving fp notice and ap,ead etc...is it ok for us to use a p.o box address?so that i can get my mails every week whereever i am.....please advice...looking forward to your replies....



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  • Raksha
    12-11 06:26 PM
    Hi,
    If married in India & want to take divorce in USA what is the procedure & will it be a valid divorce?





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  • satishku_2000
    08-10 05:05 PM
    may be he is not from india :D

    May be he or she has a spouse whose birth country is non retrogressed .. :)



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  • ski_dude12
    01-07 10:08 PM
    lol @ Bangalored
    the existing jobs have been bangalored...





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  • JunRN
    01-27 06:42 AM
    With the July filers coming into the picture, I think TSC and NSC will stick to the current trend. TSC will still be processing i-140 within 6 months and NSC within 10 to 12 months.

    However, it will be totally different matter for i-485 as USCIS will prioritize processing those with "current" PD.



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  • indianindian2006
    07-24 03:41 PM
    Hi,
    My situation is as follows:
    1) approved RIR labor 2002
    2) approved perm labor 2005
    3) approved i-140 2006 (PD 2005)
    4) ALL of above for company-A. 2006 company-B took over.

    My lawyer said i cannot file and have to start again with new labor as merger/acquistion was 'asset only' type.

    I want to self-file i-485 giving the company "name change" letter as the only proof along with the rest of regular documents. Company-B employer is in 100% support of my application.

    SHOULD I just waste $$$$ money or take a chance ? PLEASE HELP...TIRED OF WAITING FOR LAST 5 years :(

    Regards,
    -Ravi
    I was wondering if you file for perm with company B and then at the time of 140 try to get the 2002 date of the RIR which is approved,if that can happen then you may be fine.I can be wrong in this.





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  • sanju_dba
    09-27 12:19 PM
    Poll shows 94% of them support this , now what next?
    - is it legit for IV?
    - does it needs to be integrated with IV website?

    Waiting for Admin's reply.



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  • rbharol
    09-26 08:37 PM
    I am not very well informed legally, but sometime back we had a meeting with our company immigration lawyers and they said once filed, the catagories can't
    be changed.





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  • paragpujara
    12-21 07:46 PM
    Refer to USCIS guide lines regarding AC 21. Hope this helps.

    http://www.uscis.gov/files/pressrelease/AC21Intrm122705.pdf


    I applied I-140 with a substitution labor in May'07. Then I applied I-485 on July2nd,2007. Got EAD on Aug20th. Two months back my I-140 was approved. Now I am on EAD. I am working with a very good financial corporation which they are asking me to join as full-time from Jan1st2008. I told my manager that I can join as a full-time from Feb20th 2008. Can any one throw some light on these doubts?

    1. What happens if I move before 180 days of EAD to this new company and send AC21 to USCIS after finishing 180 days on EAD?
    2. If I moved after 180 days what kind of queries we get from USCIS on AC21?
    3. Do we need to make sure my employer also agrees what we are doing? What kind of documents we need from the existing employer?
    4. Does my new company has to give same exact responsibilities as my labor certificate?

    I would appreciate if any one replies to these posts. Thanks in advance.





    tiger05
    03-01 07:45 PM
    Hi Rocky,

    Thanks for your reply

    Ya I was on unpaid vacation and 2006 was my first year. I will discuss with my attorney also.





    ganguteli
    04-23 12:55 PM
    Raj,

    Try to help if you can, if not just shut the **** up, only the person on the wrong side can feel the pain. He'll consult attorney anyways.

    Fake profile alert!!!!!!!!!!!!!!!!!!!!!!!
    How did you get your mailing, I140 reciept, approval and RFE date on the same day :D:D:D

    About krithi

    Will you consider attending the advocacy day or rally in DC in 2009.
    No
    Would you like to be a Immigration Voice Volunteer
    No

    Current GC Processing Stage
    I-485
    Priority Date
    Nov-05
    Green Card Category
    EB2
    Nationality
    India
    Country of Chargeability
    India
    Service Center
    Texas
    Labor Type
    Perm
    Perm Center
    Chicago
    Labor Approval Date
    11/05/2005
    I140-I485 Concurrent Filing
    No
    I140 Mailed Date
    04/06/2006
    I140 Filing Type
    Regular
    I140 USCIS Rcvd Date
    04/06/2006
    I140 Rcpt Notice Date
    04/06/2006
    I140 RFE Date
    04/06/2006
    I140 Approval Date
    04/06/2006
    July 2007 Filer
    Yes
    Adjustment of Status Application Type
    Adjustment of Status (I-485)
    I485 Mailed Date
    07/02/2007
    I485 USCIS Rcvd Date
    07/02/2007
    I485 Rcpt Notice Date
    08/27/2007
    Finger Print Notice Date
    09/27/2007
    Application Status
    Pending
    EAD Mailed Date
    08/27/2007
    EAD Approval Date
    08/27/2007
    AP Mailed Date
    08/27/2007
    AP Approval Date
    08/27/2007



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