With everything going on with H1Bs and talks about an outsourcing tax has BNY thought about focusing more on hiring in the US?
The tax itself seems unlikely, but it still is going to influence the amount of outsourcing a company does. Can’t have all experts abroad and get hit with a massive tax bill because you have no experts in the US.
More senior roles will offshore until our c-suite is also located in a foreign location. When only shareholder value matters and not company long term growth and survival then shuffling growth centers between states starts to become too expensive. Can’t we all get more value by just shifting everything to a lower cost country and just keep the “NY of BNY by maintaining a P.O. Box in Manhattan? Why pay big bucks and bonuses to US born executives when our offshore executives would cost a fraction and likely make just as good decisions as our current CEO suite? I am sure the board would be all for that to goose the stock price!
At least in engineering, there are basically no qualified American engineers. Any qualified engineer (at BNY) could be working for more pay elsewhere
The conversion isn't 1:10, it's actually 1:4 from management tracking persp. Pittsburgh hire cost about the same as 4 Indian hires.
NYC hiring is basically only for high visibility, client roles or senior leaders and 22 year old analysts through HR direct programs
@c0 we’re very much aware of what they get paid compared to us. American companies shouldn't be allowed to take jobs from American’s and give them to foreigners. End of story.
Most people don’t realise how much more staff are paid in the US compared with the rest of the world. It’s 10-15¢ on the $ in India, 60¢ $ for Europe, HK/Singapore about 80¢. Outsourcing is basically ‘done’, it’s all about AI now. You don’t need to be the CFO to work out that spending on AI to eliminate an American job will be a lot more profitable than eliminating one in India. Oh and those big US salaries come with a downside, basically no employment protection, so cheaper and easier to cut.
@a1 you mean the ocaps coming in at high oay, getting bonuses, cost of living raises as of 9/1 but dont know sh-t and dont want to do sh-t. Those ocaps? Theres a hiring freeze until jan because they are planning on eliminating every person they forced full time wfh. There about to lose all their damn knowledge and fu--s themselves royally
There's a hiring freeze until Q1 2026 and likely to be extended. You get OCAPs and be grateful for these id--ts.