Thread regarding Wells Fargo & Co. layoffs

Wells Fargo India salaries

Taken from https://www.glassdoor.com.hk/Salary/Wells-Fargo-Bangalore-Salaries-EI_IE8876.0,11_IL.12,21_IM1091_IP2.htm

The exchange rate is currently 1 usd = 72 rupees.

Notice these arent just paper pusher jobs.

Managers, programmers, data analysts, quants, traders, underwriters....if you are not customer facing, your job is going to india.

The pay difference is just too enticing for chukkie to resist....

Here is a sample. Can you live on these salaries in USA?

In india, a salary over 1,000,000 (or 7usd per hour) is BIG money.

Manager ₹1,824,222, ($25,336, $974 biweekly, or $12.18/hr)

Technology Manager II, ₹3,274,062 ($51,723/yr, $1989/biweekly, $24/hr)

Operational Risk Senior Associate, ₹1,040,574 ($ 14,451.94/yr usd, $555/biweekly, $6.94/hr)

Analytic Consultant I ₹1,477,594 ($20,521 per year, $781/biweekly, or $9.88/hr)

Software Developer ₹1,102,997 ($15,347 per year, or $590 bi weekly, or $7.37/hr)

by
| 2931 views | | 16 replies (last April 4, 2021) | Reply
Post ID: @OP+1a8f3opX

16 replies (most recent on top)

@4nyc+1a8f3opX. Outside of unpredictability going off on tilt in Town Hall meetings it seems that it would be simple to implement a Charlie bot. Going off on random rants wouldn’t get past a beta test. On the other hand, perhaps this is viewed as a feature?

by
| | Reply
Post ID: @4rfp+1a8f3opX

So whats the cost of hiring someone from India to replace Charlie?

by
| | Reply
Post ID: @4nyc+1a8f3opX

There is PhD level cheating in India. They take a paper from US journals and publish on their names. I know one he replaced word JAVA with DotNet in resume, saved with different name. Got a job too. Indians are hard working and they survive. They are expert of every thing with limited knowledge. I think moving offices of big companies to India is a political move too along with financial gain. East India company came and ruled their 200 years.

by
| | Reply
Post ID: @2egy+1a8f3opX

@krw+1a8f3opX Fake News, this site is absolutely not blocked in India. Quite the opposite there is high volume of access.

by
| | Reply
Post ID: @1jmc+1a8f3opX

@1aab+1a8f3opX lol. Just don't shake hands.

by
| | Reply
Post ID: @1yat+1a8f3opX

Soon Indian technology will come here: https://www.youtube.com/watch?v=dKkryfdtMNQ

by
| | Reply
Post ID: @1aab+1a8f3opX

Issue is from a Risk/Testing/Compliance they are far incompetent and all you can send them is busy work so.. its a financial gain but customer loss in long run..

by
| | Reply
Post ID: @1nur+1a8f3opX

Objectively speaking, it makes sense to send a job to India. For 10 dollars per hour, you can get someone who can program in Java and has learned Calculus in school. For the same money, you will probably get someone who is not very bright in the USA!

by
| | Reply
Post ID: @1ium+1a8f3opX

Big day today. All out of thoughts and prayers but tomorrow's a new day! Sukk it up

by
| | Reply
Post ID: @1zww+1a8f3opX

Well, better them than you. Ride's over

by
| | Reply
Post ID: @1ujv+1a8f3opX

Rule 1: you get what you pay for.
Think hard about it.
Rule 2: India is too expensive now, shifting to Vietnam and Java. China is too expensive too.
Ignoring risk.
Rule 3: Software design now outsourced to Romania

by
| | Reply
Post ID: @njc+1a8f3opX

Very few people here live in india.

This site is blocked in india.

So ya, 7 usd comparison on salary is relevant when trying to hold a wells fargo job under threat to being shipped to the armpit of india based on Chukkies need to shed costs.

Try again?

by
| | Reply
Post ID: @krw+1a8f3opX

cost of living is lower there so you are not comparing apples to apples. In addition, you have to work in a location of huge risk of things being stolen, like IP, assets, etc. The laws there are not the same as they are in the US, so its a huge cost to manage this, more than just the salaries you posted. You need to factor in all the costs and risks.

by
| | Reply
Post ID: @vea+1a8f3opX

Their salaries are align with cost of living in India.
Comparing USA versus India salaries is like comparing apples to oranges.

by
| | Reply
Post ID: @rpr+1a8f3opX

Their salaries reflect their work qualities.

by
| | Reply
Post ID: @lfi+1a8f3opX

OP is wrong.

https://www.investing.com/currencies/usd-inr

Its 1:73.

That means even less per hour compare to usa salary.

WAS - Manager ₹1,824,222, ($25,336, $974 biweekly, or $12.18/hr)

ACTUAL - Manager ₹1,824,222, ($24,989, $961 biweekly, or $12.01/hr)

As USD/INR goes up, the cost to the bank goes down.

by
| | Reply
Post ID: @iwt+1a8f3opX

Post a reply

: