Tuesday, August 12, 2008

Wall St. outsources to India

from The New York Times

“There’s a huge amount of grunt work that has been done by $250,000-a-year Wharton M.B.A.’s,” Mr. Kessler said. “Some of that stuff, it’s natural to outsource it.”

He added, “These are middle of the office jobs, not back office, but they’re not the people on the front line.”

After research, the next wave may include more sophisticated jobs like the creation of derivative products, quantitative trading models and even sales jobs from the trading floors.

I am eager to hear the forthcoming arguments about how this practice represents "unfair trade" and puts national security at risk when it affects more than just manufacturing jobs and lower-income workers. Oh, sweet anticipation.

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