harikapraveen
10-29 04:40 PM
Wherever you go for stamping, there will be someone on the counter before interview is conducted by visa officer who reviews the documents.
In Chennai, there will be a counter after appointment letter is shown. This is where the documents will be verified. When you reach this point, inform about the discrepancies and they will take care.
My parents went to Chennai with wrong DOB. This was rectified by someone on the counter themselfs and no problems in the interview as well.:)
In Chennai, there will be a counter after appointment letter is shown. This is where the documents will be verified. When you reach this point, inform about the discrepancies and they will take care.
My parents went to Chennai with wrong DOB. This was rectified by someone on the counter themselfs and no problems in the interview as well.:)
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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 .. :)
May be he or she has a spouse whose birth country is non retrogressed .. :)
eeezzz
06-12 01:32 PM
Thanks for the link. That clarifies that the new package fee of $1010 encompasses the EAD/AP renewal for the life of 485. If one had used the old fee structure then the new fee for I 765 (EAD) - $ 340 and I 131 Advance Parole - $ 305.
I would think that if you pay $645 (EAD and AP) for the renewal that would also be good for the life of the 485, though the link doesn't explicitly state that. Does anyone have any more info on that?
Thanks.
Can someone confirm that if you file I-485 with old fee system and pay for the new fee when you renew EAD and AP, do you still need to pay again on your 2nd time renewal ?
I would think that if you pay $645 (EAD and AP) for the renewal that would also be good for the life of the 485, though the link doesn't explicitly state that. Does anyone have any more info on that?
Thanks.
Can someone confirm that if you file I-485 with old fee system and pay for the new fee when you renew EAD and AP, do you still need to pay again on your 2nd time renewal ?
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Project_A
10-27 09:23 AM
Your situation is exactly like mine. Got OCI for first kid and PIO for the second.
Yes, rules have changed now. They denied OCI application submitted by a friend of mine (for his daughter). PIO is the only available choice.
We are able to get the OCI for our minor kid back in 2006 when there was no restriction on at least one parent to be non-Indian.
We were able to use the OCI card for couple of visits to India – no issues at the immigration ports.
Now it is time to apply for misc. services (due to the renewal of US passport). New rules imply that my kid is not eligible to renew the OCI card. CGI Chicago doesn’t have any information on this and they are not responding to emails and phones. After researching a while, I found the following from the the CGI – Edinburgh: “Minor PIO children whose both parents are Indian nationals or if one parent is an Indian national and the other is ineligible for OCI, are not eligible for registration as OCI. Such minor OCIs who are already issued with OCI cards are not eligible for services under OCI Miscellaneous services. “
I would like to know if anyone had a similar experience. Appreciate your inputs.
Project_A
Yes, rules have changed now. They denied OCI application submitted by a friend of mine (for his daughter). PIO is the only available choice.
We are able to get the OCI for our minor kid back in 2006 when there was no restriction on at least one parent to be non-Indian.
We were able to use the OCI card for couple of visits to India – no issues at the immigration ports.
Now it is time to apply for misc. services (due to the renewal of US passport). New rules imply that my kid is not eligible to renew the OCI card. CGI Chicago doesn’t have any information on this and they are not responding to emails and phones. After researching a while, I found the following from the the CGI – Edinburgh: “Minor PIO children whose both parents are Indian nationals or if one parent is an Indian national and the other is ineligible for OCI, are not eligible for registration as OCI. Such minor OCIs who are already issued with OCI cards are not eligible for services under OCI Miscellaneous services. “
I would like to know if anyone had a similar experience. Appreciate your inputs.
Project_A
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CrazyWorld
08-05 12:30 PM
Why partial, If I were you I would have asked for a full refund !
$1,290 is no small amount given for absolutely nothing in return...I would done everything to get that back and given it to a suitable charity, which is the true giving: something just for the sake of giving for the betterment of the world.
I just want to let every1 know that I'm happy for what I am today and will always think positive and be happy.
Please understand that $1,290 is not a reason to stay unhappy. Also, it's not a small amount and it can be used for good cause, like Charity.
Thanks to InTheMoment for bringing it up..... that's what I had in mind too.
$1,290 is no small amount given for absolutely nothing in return...I would done everything to get that back and given it to a suitable charity, which is the true giving: something just for the sake of giving for the betterment of the world.
I just want to let every1 know that I'm happy for what I am today and will always think positive and be happy.
Please understand that $1,290 is not a reason to stay unhappy. Also, it's not a small amount and it can be used for good cause, like Charity.
Thanks to InTheMoment for bringing it up..... that's what I had in mind too.
gc_chahiye
07-22 01:22 PM
EAD is usually issued only for one year but USCIS has the option to issue EADs for a longer period of time based on this regulation:
"DHS on July 30, 2004 published an interim regulation that amends 8 CFR sec. 274a3. USCIS now has authority to issue EADs for periods greater than one year. This regulation recognizes the system is overburdened. However, USCIS has not implemented this reform probably due to the potential revenue loss."
Source: "Immigration and Nationality Law Handbook 2007 Edition", published by AILA
This can be done without changing the law. If USCIS is afraid to lose its revenue they can change for 2 or 3 years ahead. I believe this may be a good choice for people whose visa number will not be available for several years. Any comments?
I thought EAD renewals are now free (included in the initial filing fee if filed after July 31). So no revenue loss and less workload for USCIS if they go for 3 years.
"DHS on July 30, 2004 published an interim regulation that amends 8 CFR sec. 274a3. USCIS now has authority to issue EADs for periods greater than one year. This regulation recognizes the system is overburdened. However, USCIS has not implemented this reform probably due to the potential revenue loss."
Source: "Immigration and Nationality Law Handbook 2007 Edition", published by AILA
This can be done without changing the law. If USCIS is afraid to lose its revenue they can change for 2 or 3 years ahead. I believe this may be a good choice for people whose visa number will not be available for several years. Any comments?
I thought EAD renewals are now free (included in the initial filing fee if filed after July 31). So no revenue loss and less workload for USCIS if they go for 3 years.
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smartboy75
12-04 07:01 PM
Does that mean the above rules apply only when u want to become a citizen ???
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ss1026
12-06 11:21 AM
hello all,
i attended for visa stamping on dec 1st at Hyderabad consulate so i got 221g yellow form but he retained passport with him. he told to submit all the documents that are mentioned on the yellow form. did any body got same thing. usually how many days they will take for processing after submiting the documents
Thanks,
Praveen
Hi Praveen
I recently went for my 10 year H-1B stamping in hyderabad in august end. I got the 221g slip and as in your case, the officer retained my passport. They requested info about my company which I duly provided in a weeks time. I got my visa approved and passport in my hands in early november so it took about 70 days. Obviously every case is different so I cannot say how long your case would be pending but my brother had to wait about 60 days for his visa stamping.
My company was ok with me staying back for the stamping. Though I have AP/EAD (July 2007 filer) I used the opportunity to spend time with my family. I came back last week with no issues at the POE. Good luck with your case
i attended for visa stamping on dec 1st at Hyderabad consulate so i got 221g yellow form but he retained passport with him. he told to submit all the documents that are mentioned on the yellow form. did any body got same thing. usually how many days they will take for processing after submiting the documents
Thanks,
Praveen
Hi Praveen
I recently went for my 10 year H-1B stamping in hyderabad in august end. I got the 221g slip and as in your case, the officer retained my passport. They requested info about my company which I duly provided in a weeks time. I got my visa approved and passport in my hands in early november so it took about 70 days. Obviously every case is different so I cannot say how long your case would be pending but my brother had to wait about 60 days for his visa stamping.
My company was ok with me staying back for the stamping. Though I have AP/EAD (July 2007 filer) I used the opportunity to spend time with my family. I came back last week with no issues at the POE. Good luck with your case
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cessua
04-05 03:53 PM
I am in a similar situation, i am on my 5th year H1B ROW and my laywer sent in the I485 before the retrogression started but i still have to wait for the PD to be current.
I am finishing an MBA in two months and i have had a few interviews but not sure what the wisest thing is.
Advise?
I am finishing an MBA in two months and i have had a few interviews but not sure what the wisest thing is.
Advise?
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ItIsNotFunny
10-27 03:52 PM
Folks - everyday I go to sleep I wish that tomorrow the sun will rise in the west. When I wake up I see that nothing has changed.
Change is hard - but change definitely brings new hope and prosperity.
With bad economy, Green Card issues, visa retrogression, layoffs, bad stocks, housing crisis and with growing inflation - all we do is hope and strive towards betterment.
Diwali is a celebration of the victory of good over evil and I wish this Diwali will bring victory to the well deserved.
Lets all be together in turbulent times and work towards the change that we always want to see.
IV has helped us all and continue to help us. IV is nothing but all of us together. Lets all pledge our support to IV on this thread.
Hey! What about handsomes like me? Just kidding :). Wish you all Happy Diwali and properous new year.
I Wish God Give me Strength to Fight Legal Immigration Injustice.
When I Asked God for Strength, He Gave Me Difficult Situations to Face - Swami Vivekanad
So, I know god is with me.
Wish all so deserved people Green Card this year.
Change is hard - but change definitely brings new hope and prosperity.
With bad economy, Green Card issues, visa retrogression, layoffs, bad stocks, housing crisis and with growing inflation - all we do is hope and strive towards betterment.
Diwali is a celebration of the victory of good over evil and I wish this Diwali will bring victory to the well deserved.
Lets all be together in turbulent times and work towards the change that we always want to see.
IV has helped us all and continue to help us. IV is nothing but all of us together. Lets all pledge our support to IV on this thread.
Hey! What about handsomes like me? Just kidding :). Wish you all Happy Diwali and properous new year.
I Wish God Give me Strength to Fight Legal Immigration Injustice.
When I Asked God for Strength, He Gave Me Difficult Situations to Face - Swami Vivekanad
So, I know god is with me.
Wish all so deserved people Green Card this year.
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chillfakter
02-19 03:22 PM
As many of you assured me, the date on the I-94 reflected the date on my I-797 (I received a B, not an A). It did not have anything to do with my passport expiration date as I was fearing. Thanks everyone!
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mbartosik
12-13 04:16 PM
The date in my I94 was entered as being 6 months before the date of entry (he got the year wrong). I being jet lagged didn't spot it until after leaving the immigration hall.
To cut a long story short, in the end an immigration officer at the same port of entry just hand corrected it and wrote his badge number against the correction (no updates in the computer). I had begged for a new I94, but that wasn't going to happen.
In the end to avoid risk of any more delays with H1B renewal etc, I just took a trip to an airport in Canada and didn't even leave the airport. That got me a new I94 (for cost of $250 airfair). My bother was that a hand corrected I94 may look suspicious to someone and that slows down a future application, and what is the cost of more delays in applications?
So my advice is, ask an immigration officer at a convenient place for you to correct it. However, if you are going to use it on an application (like I140 or H1B renewal) then just leave and reenter. It depends on costs, a day off work to go to somewhere where they could issue a new I94 cost more than a cheap airfair to Canada for the day at a weekend. Also compare with the risk of a delay while they check on a hand corrected I94, if they ever bother. My attorny thought that I went over board, but he is not the one waiting and waiting!
To cut a long story short, in the end an immigration officer at the same port of entry just hand corrected it and wrote his badge number against the correction (no updates in the computer). I had begged for a new I94, but that wasn't going to happen.
In the end to avoid risk of any more delays with H1B renewal etc, I just took a trip to an airport in Canada and didn't even leave the airport. That got me a new I94 (for cost of $250 airfair). My bother was that a hand corrected I94 may look suspicious to someone and that slows down a future application, and what is the cost of more delays in applications?
So my advice is, ask an immigration officer at a convenient place for you to correct it. However, if you are going to use it on an application (like I140 or H1B renewal) then just leave and reenter. It depends on costs, a day off work to go to somewhere where they could issue a new I94 cost more than a cheap airfair to Canada for the day at a weekend. Also compare with the risk of a delay while they check on a hand corrected I94, if they ever bother. My attorny thought that I went over board, but he is not the one waiting and waiting!
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martinvisalaw
06-04 05:37 PM
You don't need to be working in the US while the AOS is pending. You just need to have the job when permanent residence is approved, or to have a job in the "same or similar occupational classification."
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the_jaguar
03-25 10:49 PM
gap between your company A exit date and the date they withdrew your I140?
As per law,, they should not do it for 6 months old approved I140 ?
As I posted earlier, I had left Company A before the I-140 approval, so I don't really know how long they waited before withdrawing the approved I-140.
Are you sure that there is a law regarding the 6 month period? AFAIK, this only applies when you have filed you I-1485. If it's prior to that, AC-21 doesn't apply...
As per law,, they should not do it for 6 months old approved I140 ?
As I posted earlier, I had left Company A before the I-140 approval, so I don't really know how long they waited before withdrawing the approved I-140.
Are you sure that there is a law regarding the 6 month period? AFAIK, this only applies when you have filed you I-1485. If it's prior to that, AC-21 doesn't apply...
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hope123
12-21 06:29 PM
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.
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.
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jagan13
02-21 09:18 AM
HRPRO,
I could go in person , but since I submitted it thru mail, I am not sure if they will even give it to me personally. As of right now, i am planning on waiting it out till the end of 8 weeks atleast, which will be the end of next week.
satishav,
I am from KY and currently they need to validate all the original documents, proof of address,etc before they issue this blue form, whih identifies the last date of your legal status and the DMV issues the license till that date. I already tried with copied on the original passport but the guy in the administrative office refused to issue the form.
aaren253,
Sorry about the lost passport.
rockstart,
I believe there were a lot of delays between 09 and 10, based on my research. Lately, it seems to be about 40 working days. Hopefully, my passport has the same processing timeline. As I mentioned in my post, both my checks(application fee and returm mailing fee) were cashed on 24th Jan which to me is still unclear, as my appointment date was on 24th Dec and my documents were received by the embassy on 31st Dec. I am not sure what they were upto with my passport, till 24th Jan.
Jagan
I could go in person , but since I submitted it thru mail, I am not sure if they will even give it to me personally. As of right now, i am planning on waiting it out till the end of 8 weeks atleast, which will be the end of next week.
satishav,
I am from KY and currently they need to validate all the original documents, proof of address,etc before they issue this blue form, whih identifies the last date of your legal status and the DMV issues the license till that date. I already tried with copied on the original passport but the guy in the administrative office refused to issue the form.
aaren253,
Sorry about the lost passport.
rockstart,
I believe there were a lot of delays between 09 and 10, based on my research. Lately, it seems to be about 40 working days. Hopefully, my passport has the same processing timeline. As I mentioned in my post, both my checks(application fee and returm mailing fee) were cashed on 24th Jan which to me is still unclear, as my appointment date was on 24th Dec and my documents were received by the embassy on 31st Dec. I am not sure what they were upto with my passport, till 24th Jan.
Jagan
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JunRN
11-05 08:26 PM
I guess one option is "follow-to-join". Go back to home country and apply for follow to join.
But you should not miss that period when your PD becomes current. It usually takes one whole month for PD being current so I don't see a reason why they cannot file in time.
But you should not miss that period when your PD becomes current. It usually takes one whole month for PD being current so I don't see a reason why they cannot file in time.
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md_alien
10-07 01:20 PM
If you have an international driving license/permit, you can get a full MD license on its basis. I believe you only have to give a written test and a driving test. No drivers ed. etc. Probably you might have to take a Drug and Alcohol test too but thats not a big hassle.
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newlife2
09-19 10:17 PM
Guys, I was just laid off and have efiled i539 3 days after the termination date for a status change to F2. Now working on the application letter. Do you think I should mention the layoff in the letter?
If I do mention it:
Con: The layoff might quickly catch the eyes of the immigration officer and if he want to check my status, he could find out the 3 days OOS.
Pro: My previous job was well paid. By mentioning it, I give the reason that why I want to stay at home as F2 instead of keeping the well paid job.
I guess I will mention it in the letter to explain the whole situation and hope everything will be all right. Let me know if anybody disagrees asap, I will mail out the stuff with in next two days.
If I do mention it:
Con: The layoff might quickly catch the eyes of the immigration officer and if he want to check my status, he could find out the 3 days OOS.
Pro: My previous job was well paid. By mentioning it, I give the reason that why I want to stay at home as F2 instead of keeping the well paid job.
I guess I will mention it in the letter to explain the whole situation and hope everything will be all right. Let me know if anybody disagrees asap, I will mail out the stuff with in next two days.
Munshi75
11-24 08:27 AM
I was on OPT for certain amount of time. But my H1B was approved during my 6th month of OPT . So unless there is any mention of future starting date on your H1B approval notice, you stand to loose the OPT and will be on H1B the moment you receive your receipt number. The REF does not matter at all as you have the receipt number and if you feel confident to deal with your reference.
Hope I did not confuse you further.
Hope I did not confuse you further.
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
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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