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While determining one's skill by how much he/she gets paid sounds ridiculous, this makes sense if you consider macro trends, as this article is talking about.
by analyst74 14y ago
While determining one's skill by how much he/she gets paid sounds ridiculous, this makes sense if you consider macro trends, as this article is talking about.
If an industry (like finance) routinely pays multiple times the compensation of another industry (say, engineering) that requires similar skillset, it's rational that more of the top graduates will choose finance over engineering.
- piyush_soni 14y agoNo it doesn't make much sense even if you consider macro trends. Bright Chinese or Indian workers will almost always be ready to work for lesser wages than a 'Native American' (if there's something like that) will be ready to work for. There's a macro economics involved here, but it's not what you think.
- analyst74 14y agoTrust me, in a country with reasonable immigration laws, like Canada, highly skilled foreign workers do not make less money than locals. The biggest problem with H1B, which Matloff is critical of, is that it puts foreign worker and local worker in uneven legal grounds, thus unable to demand the same wage.