Trader Mike

There’s been a really interesting meme going around recently about the effects of blogs on traditional Wall Street research. Om Malik gives a good overview of the topic:

I think the traditional role of Wall Street Research is going to have to change. I think the bursting of the bubble, and the short comings of the banking-research nexus as exposed by the Jack Grubman and Henry Blodgett scandals has made research groups more careful. On top of that, many research groups have shrunk in size and analysts have to track …

I guess it was only a matter of time for this to happen. India has been a significant outsourcer for U.S. I.T., and some back office jobs for a several years. Now they are getting some front office financial jobs as well. CNBC says that an Indian financial analyst could earn a salary of $20,000 vs. $250,000 for his American counterpart. Here are some articles discussing this matter:

India aims to become back office of the world.
India set for jobs bonanza.