So says an incredulous Carlos Velez in his blog:
Morgan Stanley has moved about fifty of its analysts to India as well. Analysts are MBAs who do research and analysis of corporate financial statements, business plans, and execution in order to make investment recommendations on various stocks and bonds....guys who do it earn $80,000 a year and up in New York...Their American managers told me they (Morgan Stanley India) also work harder and make fewer errors while earning only $20,000 a year.
That doesn't sound quite right....comes to around 9 lakh rupees (Rs. 900,000) for folks not from India. So MorganStanley is saying it pays them $20,000 a year or is that the mysterious TLA (Three Letter Acronym) called CtC (cost to company)? Please note that MBA is also a TLA :-). Fewer errors? Hmm, and they work through the night? Imagine what would happen if they worked sane hours...6 sigma productivity like the Mumbai dabbawalas. Maybe we should name Mumbai the 6sigma city instead of the Maximum city.