Indian IT professionals among worst paid globally - What does it mean for Bangalore ?

"While Indian IT managers stood fourth on the ten lowest paying countries with an average salary of $25,000, Vietnam topped the list with a meagre average salary of $15,470, followed by Bulgaria and Philippines averaging at $22,240 and $22,280 respectively. In terms of the best IT salaries paying countries' Switzerland topped the list with an average annual remuneration of $1,40,960. The same job if taken in Denmark, second on the list, would pay $1,23,080, the survey said. Belgium stood third in the best paid list with salary in the IT sector averaging at $1,21,170. The UK and Ireland were ranked fourth and fifth on this list with average packages of $1,18,190 and $1,08,230 respectively." http://economictimes.indi... The report mushes a lot about how India is still a "hot outsourcing destination", but the numbers tell the truth of what many experts are so concerned about. Does Bangalore need an upgrade and a new calling card ? You can find some answers here : www.businessgyan.com/cont... that reports a seminar, that I organised recently. Low salaries, in my view, are only part of the problem. the hangover of the high dollar rate on rest of Bangalore's economy , it means that for every rupee earned here, you get increasingly fewer value worth..and add to it the scourge of heavy handed pollution and bumper-to-bumper traffic jams and overtime that the employees are forced into, life is pretty much miserable for most of the employees. It may be worse than sweat shops if the companies and people do not wake up to it right now. Regards, Vikash