IBD and S&T being outsourced?!?

Career Opportunities & Internships Investment Banking
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<p><a href="http://www.nytimes.com/2008/08/12/business/worldbusiness/12indiawall.html?pagewanted=1&_r=1&ref=business%5B/url%5D"&gt;http://www.nytimes.com/2008/08/12/business/worldbusiness/12indiawall.html?pagewanted=1&_r=1&ref=business&lt;/a&gt;&lt;/p>

<p>this article paints a pretty scary picture. several functions of IBD and S&T are apparently being outsourced. what does this mean for all prospective bankers and traders? will we be better off switching to law/consulting/engineering?</p>

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<p>I never understood how a job so easy could warrant such a high paycheck. It's about time.</p>

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<p>o god I hope lou dobbs doesn't find out about this</p>

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<p>It's not scary for people who are actually adding substantial value to their businesses. It is scary for people who muck around in powerpoint all day without contributing much else, while hoping nobody will notice and the paychecks will keep coming in.</p>

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<p>It might be scary for those not in the field yet though. More outsourcing means smaller analyst classes and likely more competition for the vaunted summer analyst internship and fewer FT offers after the end of a summer of employment.</p>

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<p>Interesting that NYT has two popular articles on the same topic right now. The one you posted is #1 ranked in business right now, #3 is this:</p>

<p>Leaving Wall Street for a Job Overseas
<a href="http://www.nytimes.com/2008/08/12/business/12transfer.html?em%5B/url%5D"&gt;http://www.nytimes.com/2008/08/12/business/12transfer.html?em&lt;/a&gt;&lt;/p>

<p>Oh well, it was only a matter of time. If it can be done in India, it probably will be (eventually).</p>

<p>This begs the question: if these jobs that the new grads take are sent overseas, then who gets the higher jobs down the road? These very underlings are the ones who get promoted to those higher jobs. But if there aren't enough of them left in the U.S., what's going to happen? Will foreigners get the better jobs as well?</p>

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<p>bump
(10 char)</p>

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<p>A lot of IT and tech jobs went overseas at the turn of the millennium, but there are far more IT/tech jobs in America now then ever before and they are much higher paying as well. Although its hard to predict, I would imagine the same thing could be happening for banking.</p>

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<p>Seriously quagmire, is it really necessary to bump one's own thread?</p>