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The end of Investment banking IT in Singapore.

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Re: The end of Investment banking IT in Singapore.

Postby rajagainstthemachine » Wed, 03 Apr 2013 10:19 am

vink2 wrote:For back office processing any European county will be out of competition, I think.
For quality development any European country will be the best choice.



not necessarily! time zone plays an important role too, and that why sometimes certain businesses are moved to Eastern European Nations.

My company has a presence in about 150 countries worldwide and that includes design and development in India/Ireland/Canada/USA with Singapore/Australia/Europe being mostly sales and services and support functions distributed over the world.
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Re: The end of Investment banking IT in Singapore.

Postby vink2 » Wed, 03 Apr 2013 10:28 am

rajagainstthemachine wrote:not necessarily! time zone plays an important role too, and that why sometimes certain businesses are moved to Eastern European Nations.

My company has a presence in about 150 countries worldwide and that includes design and development in India/Ireland/Canada/USA with Singapore/Australia/Europe being mostly sales and services and support functions distributed over the world.


More point:
a) infrastructure. it is better in Europe.
b) personal safety. better in Europe.
c) education. better in Europe.
etc.
So it is okay to outsource some types of jobs to India.

Europeans want poor nation to grow, but it doesn't mean that Europeans are okay to become poor for the sake of this propose. It is reasonable for some European banks to safe some jobs in Europe.

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Re: The end of Investment banking IT in Singapore.

Postby rajagainstthemachine » Wed, 03 Apr 2013 10:38 am

vink2 wrote:
rajagainstthemachine wrote:not necessarily! time zone plays an important role too, and that why sometimes certain businesses are moved to Eastern European Nations.

My company has a presence in about 150 countries worldwide and that includes design and development in India/Ireland/Canada/USA with Singapore/Australia/Europe being mostly sales and services and support functions distributed over the world.


More point:
a) infrastructure. it is better in Europe.
b) personal safety. better in Europe.
c) education. better in Europe.
etc.
So it is okay to outsource some types of jobs to India.

Europeans want poor nation to grow, but it doesn't mean that Europeans are okay to become poor for the sake of this propose. It is reasonable for some European banks to safe some jobs in Europe.


you forgot about unions and draconian labour laws in Europe which makes it really hard for companies to hire and fire people as they like. Corporations look for flexibility as well.
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Postby BillyB » Wed, 03 Apr 2013 11:00 am

rajagainstthemachine wrote:
zzm9980 wrote:UBS has a location at CBP that is staffed almost entirely by Infosys. I'd expect any IT expansion will be more Infosys employees. They're easy to terminate on a second's notice.


Infosys! ha! they are probably going to suck your blood out by charging outrageous manpower rates, our company used to do business with them to develop some of our products in the early 2000's
bloody bloodsuckers! :x :mad:

I wouldn't work in companies like TCS,Infosys and Wipro because your worth as an employee is non existent.


Infosys are now trying to offer outcome oriented engagements, where their armies of staff are fully accountable for the sh*t work they do! What a joke....

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Re: The end of Investment banking IT in Singapore.

Postby vink2 » Wed, 03 Apr 2013 11:11 am

rajagainstthemachine wrote:you forgot about unions and draconian labour laws in Europe which makes it really hard for companies to hire and fire people as they like. Corporations look for flexibility as well.


You are talking about western and central Europe. In Eastern Europe it is much easy to overcome these issues. It is not an issue in EE.

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Postby rajagainstthemachine » Wed, 03 Apr 2013 11:34 am

BillyB wrote:
rajagainstthemachine wrote:
zzm9980 wrote:UBS has a location at CBP that is staffed almost entirely by Infosys. I'd expect any IT expansion will be more Infosys employees. They're easy to terminate on a second's notice.


Infosys! ha! they are probably going to suck your blood out by charging outrageous manpower rates, our company used to do business with them to develop some of our products in the early 2000's
bloody bloodsuckers! :x :mad:

I wouldn't work in companies like TCS,Infosys and Wipro because your worth as an employee is non existent.


Infosys are now trying to offer outcome oriented engagements, where their armies of staff are fully accountable for the sh*t work they do! What a joke....


In the late 90's Infosys was a God Like company among the Indian IT firms. They wanted quality people. They used to hire staff by throwing them a series of puzzles and mathematical equations and what not. If you could solve a riddle you were in basically.
As the years progressed they grew a bit and wanted thousands of people to work on their "projects" and then they hired anybody just about anybody an inanimate carbon rod would do.
I remember from several of my friends they'd be hired and put on the "bench" and then "deployed" to some random project. It could turn out that an electronics engineer could end up working on a banking project and a mechanical engineer could end up working in a database project.
the morale among the "benchers" were terrible they had no motivation to work at all, they'd come into office and stare at a desk for 8 hrs and go home and get paid for it.

this sums it up

Image


original ad :lol:

edit: replaced img tag with url instead

http://4.bp.blogspot.com/_tuFHTWk9Itk/T ... nfosys.png
Last edited by rajagainstthemachine on Wed, 03 Apr 2013 11:54 am, edited 1 time in total.
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Postby nakatago » Wed, 03 Apr 2013 11:45 am

Oversized infographic is oversized.

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Postby BillyB » Wed, 03 Apr 2013 11:46 am

rajagainstthemachine wrote:
BillyB wrote:
rajagainstthemachine wrote:
zzm9980 wrote:UBS has a location at CBP that is staffed almost entirely by Infosys. I'd expect any IT expansion will be more Infosys employees. They're easy to terminate on a second's notice.


Infosys! ha! they are probably going to suck your blood out by charging outrageous manpower rates, our company used to do business with them to develop some of our products in the early 2000's
bloody bloodsuckers! :x :mad:

I wouldn't work in companies like TCS,Infosys and Wipro because your worth as an employee is non existent.


Infosys are now trying to offer outcome oriented engagements, where their armies of staff are fully accountable for the sh*t work they do! What a joke....


In the late 90's Infosys was a God Like company among the Indian IT firms. They wanted quality people. They used to hire staff by throwing them a series of puzzles and mathematical equations and what not. If you could solve a riddle you were in basically.
As the years progressed they grew a bit and wanted thousands of people to work on their "projects" and then they hired anybody just about anybody an inanimate carbon rod would do.
I remember from several of my friends they'd be hired and put on the "bench" and then "deployed" to some random project. It could turn out that an electronics engineer could end up working on a banking project and a mechanical engineer could end up working in a database project.
the morale among the "benchers" were terrible they had no motivation to work at all, they'd come into office and stare at a desk for 8 hrs and go home and get paid for it.

Brilliant!

And they aren't alone in that approach - we see it from the big 4 and also the blue sky boys like Bain, Wyman, McKinsey etc who employ these brilliant 'problem solvers' with absolutely no clue about banking concepts from a functional perspective and therefore ineffective on complex projects. Led by experienced partners who vanish as soon as the projects start and leave some fresh grads on the trading desk to work out how to price a credit default swap................

......for $2-3k SGD per day billed rates.

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Postby the lynx » Wed, 03 Apr 2013 11:47 am

That's a huge waste of resources and money, from a layperson's point of view. Why that so?

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Postby rajagainstthemachine » Wed, 03 Apr 2013 12:06 pm

Infosys business model :

1.foreign company xyz wants to set up shop in India.

2. infosys approaches xyz and says it has ready made staff, office space, IT infra , operations etc , offers a plug and play solution , bills xyz horrendous amounts

3. xyz now has an offshore presence in almost no time but then soon realizes that the quality is shitty ass.
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Postby Strong Eagle » Wed, 03 Apr 2013 12:11 pm

BillyB wrote:Brilliant!

And they aren't alone in that approach - we see it from the big 4 and also the blue sky boys like Bain, Wyman, McKinsey etc who employ these brilliant 'problem solvers' with absolutely no clue about banking concepts from a functional perspective and therefore ineffective on complex projects. Led by experienced partners who vanish as soon as the projects start and leave some fresh grads on the trading desk to work out how to price a credit default swap................

......for $2-3k SGD per day billed rates.


I can guarantee you that phenomenon is not limited to the banking sector... exactly the same thing in government, chemicals, extraction industries. One knowledgeable (aka - high bill rate) with multiple recent grads. I'm reminded of an industry tale... hire Accenture... they produce absolutely the best slide decks... six weeks of training on this subject.

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Postby rajagainstthemachine » Wed, 03 Apr 2013 12:22 pm

Strong Eagle wrote:
BillyB wrote:Brilliant!

And they aren't alone in that approach - we see it from the big 4 and also the blue sky boys like Bain, Wyman, McKinsey etc who employ these brilliant 'problem solvers' with absolutely no clue about banking concepts from a functional perspective and therefore ineffective on complex projects. Led by experienced partners who vanish as soon as the projects start and leave some fresh grads on the trading desk to work out how to price a credit default swap................

......for $2-3k SGD per day billed rates.


I can guarantee you that phenomenon is not limited to the banking sector... exactly the same thing in government, chemicals, extraction industries. One knowledgeable (aka - high bill rate) with multiple recent grads. I'm reminded of an industry tale... hire Accenture... they produce absolutely the best slide decks... six weeks of training on this subject.



Ahhh! Accenture the bastard child of Arthur Anderson who were master chefs in cooking books for Enron,WorldCom and Nortel.
total effin bunch of thieves
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Postby BillyB » Wed, 03 Apr 2013 1:00 pm

ooooohhhhh - glad we're all on the same page!

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Postby Sergei82 » Wed, 03 Apr 2013 1:12 pm

This bodyshop business makes more and more sense to me while I'm reading this thread... although I hate it more and more as well. Myself is in that trap. Not easy to get out nowadays. :)

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Postby puntu » Mon, 17 Mar 2014 12:29 am

yes i know how things are in India esp these back office jobs. Very rarely you will find some good work happening from India..

The shittiest place for off-shoring is Chennai, Mumbai and may be Hyderabad and Pune even Gurgaon too.

I have seen these offshore offices are extremely polluted from shittiest people working in shittiest projects. Gurgaon is a place for freak up freak who think they invented programming.


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