Monday, April 14, 2008
15 Apr 2008, 0253 hrs IST,Sujata Dutta Sachdeva,TNN
They may be some of the most sought after techies in the US, but the Big Apple does not seem to hold its charm for IITians anymore. A study reveals the number of IITians opting to move to the US after graduation is steadily coming down. In the last five years, nearly 84% preferred to stay back and pursue a career in India.
The trend began from the class of 2002. Of the IITians who graduated in 2002 and later (including the class of 2008), only 16% went abroad. In comparison, between 1964 and 2001, 35% IIT graduates preferred to fly to the US. Interestingly, 59% of IIT graduates before 2001 believed that the US and other developed countries provided better opportunities. However, in the last five years the mindset has undergone a change. Now, nearly 49% believe India is where the action lies. The study 'Changing Career Destination and Career Choices for IITians' by Evalueserve, a KPO, also reveals, the techies believe India will become the most promising geography for them in the next 10 years. What's more, the number of IITians who believed the US offered a "better standard of living", too has come down from 13% prior to 2001 to almost zero now. And why not? After all, payrolls in the US have shrunk by 80,000, and the jobless rate has touched 5.1%, the highest since September 2005. The techies have now realised that India offers more opportunities for them. No wonder, many of them are returning as well. The II sector is buzzing with stories of the returning prodigals who now prefer the home and hearth. The Evalueserve study also shows 60% of IITians, who graduated before 2001, saw developed countries as the destination with the best career opportunities. However, the trend changed in the last five years. Now, 51% consider India a preferred career location. In 2006, 90% IIT graduates chose to stay back and work here. A substantial percentage (35%) of those who wanted to move to the US, did not go there.
The reasons were many. While stringent visa regulations after 9/11 shattered dreams of many, high cost of living, limited scholarships, and high tuition fees unnerved others. Shrinking job opportunities and poor quality of life were among some of the major reasons.
Many are disillusioned with the overall quality of life in the US. Nearly 14% of the respondents say they stayed back because they were getting better job offers here. Another 9% felt that India offered better opportunities. Most strikingly, when asked, ‘10 years down the line, which geography do you think will hold the most promise for success?' 72% chose India, with only 17% opting for the US, 5% for Europe and 2% for China. It's India Shining for IITians, finally.
Monday, April 7, 2008
I recently came across a most interesting idea for small business owners: a "vacation club" that brings together entrepreneurial small business owners to have fun, create interesting business deals, learn from each other (mastermind), have fun in a beautiful vacation area and write all this off as a business expense.
CLICK HERE to get more details.
I stayed awhile back in the first property of many that the Entrepreneurs' Vacation Club (EVC) will be purchasing- a gorgeous luxury private vacation property in Breckenridge, Colorado.
With a great view of the Rocky Mountains and the endless ski trails at Breckenridge, this place was a little piece of Heaven.
And, true to the mission of the EVC, I struck up a relationship with another business person there, and by the end of the weekend we had penciled out the structure for a very cool joint venture!
I saw the vision first hand of this most innovative business idea. Check it out HERE
This simple look at your company and your market allow you to understand how to plan for the future success of your company.
Learn a simple way to implement SWOT here:http://www.ceocoachblog.com/2007/09/swot-out-the-co.html
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