IT Hire Wire

With the IT job market softening in the US and a month of impending Beijing Olympics coverage, I’m wondering if US IT workers are thinking that the grass is greener in Asia. After a long day in the IT bullpen at a Wall Street Financial firm, do you come home and say “Honey, I think we should move to Hong Kong.” Perhaps you want to get some international experience under your belt. Is Singapore calling?

I read a Hudson Hong Kong IT Financial Services Update the other day that indicates more of you may be having these thoughts. It suggests that US and European IT Financial Services pros are setting up camp in Asia’s biggest financial hubs. 

This group is taking advantage of the NEW technology ‘brain drain’ from established heavyweight locations like London and New York. There is a major influx of talent from these locations moving to Asia. These people see the need to base themselves in Asia or the Middle East for the next 5 to 10 years, in order to achieve their maximum earning potential. This group used to move into Asia in a trickle, but are now aggressively pursuing opportunities across Singapore, Hong Kong, Tokyo and Shanghai respectively.

Until recently, we were afraid that the higher paying white collar IT jobs were being taken away from the US and put into India. When India’s workforce started being paid more, it became less attractive for companies to move the jobs there and our workers were relieved to stay put in the US. Now, is it possible that the opportunities in Asia are compelling enough to actually create a brain drain?

Hmm…I’m a bit skeptical. Hopefully someday I will go to Asia for the first time. Maybe it will be for a business meeting, or a short term relocation. Would it be an adventure? Yes. Would I gain valuable experience? You bet. Would I move across the planet to chase a 20% pay raise? Hardly.

So, are YOUR bags packed?

photo by 3dom

Related Posts

1. Movable Skills in a Moving Market
2. Soft Skills vs Tech Skills - Which Will Win Out?