Overseas graduates move back to India for job
By siliconindia   |   Monday, 22 December 2008, 19:01 IST
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Overseas graduates move back to India for job
Bangalore: Those who went to foreign universities and graduated there in the hope for securing a better future are now moving back to India for a job. Business graduates from many U.S. institutes are seeking job opportunities in India as the U.S. is one of the countries that are badly hit by slowdown. Seeking jobs in the segments of private equity, IT, investment banking and consulting, around 25 students (most of them have a work experience of five to ten years) from the University of Chicago Booth, which is the second oldest in the U.S., have started a program called India Business Week (IBW) to visit Mumbai, Bangalore and Delhi. These students are visiting India based companies such as Tata Group, Wipro, Infosys, ICICI Venture Fund, Intel, IBM, McKinsey, Goldman Sachs, Citigroup and Deutsche Bank. "We received very convincing and receptive response from several firms that we visited. Most of us are originally from India, we want to move back," said Nitesh Jain, IBW lead, who has an electrical engineering background and worked on hardware design for some of the latest handsets to come from Motorola. "Salaries are comparable at the positions we are looking, cost of living is low here and quality of living has also improved", says Jain. "There are huge opportunities for talent to come and handle start ups as they are looking for talented people. With global talent coming in, companies can perform better", said Anu Parthasarathy, chief executive of Global Executive Talent (GET), which is a cross-border senior executive search firm based in Menlo Park, CA. SV Krishnan, the HR head at Satyam Computer Services, said, "There are more chances for students to get leadership roles here such as team leaders and project leaders even if they have five to six years of work experience. The attraction is now here while the markets have cooled down in US. Some People are also coming back for their parents." According to bureau of labor statistics, U.S. Department of Labor, the national unemployment rate rose to 6.7 percent in November and was up 2.0 percentage points from a year earlier.