One thing people seem to always overlook with respect to the increase in skills and technology in India and China is that as these economies grow, they are going to grow their need for Equity Research Analysts, Engineers, IT professionals, computer programmers, etc to work for their own companies as opposed to outsourcing to American companies.
The post is way pessimistic. I work in IT and we were all shit scared with all the outsourcing happening in IT. But, none of our worst fears have come true. All my friends are gainfully employed making a lot more than they made 5 years ago. If you are smart, you will always find a way to survive. If the original poster can’t find a job with a top-20 MBA and CFA , too bad for him and he probably is an exception , not the norm. For every one like him , I bet i can find 20 who are less qualified and are employed.
you have to be careful with how much credibility you assign to one isolated post online. it could be a disgruntled guy who was just laid off or a wacko living in his parents’ basement who just imagined that he has an MBA. if you start seeing many people saying similar things, then it’s more credible.
I thought back to this thread after reading these NY Times articles tonight: http://www.nytimes.com/2008/08/12/business/worldbusiness/12indiawall.html?pagewanted=1&_r=1&adxnnlx=1218506423-C3nHtE8%20zJUuIfjSqO5bDQ http://www.nytimes.com/2008/08/12/business/12transfer.html
Only skim read all this - but this my quick take on the subject of outsourced resource. I worked for a large US bank in The City here in the UK that wanted to outsource its analytical function in about 2000. Guess what? That bank still has plenty of analysts still in London in 2008. For Equity Research fund managers still want to speak to a rated analyst who has to traipse over to their offices, CFOs still want to have quiet, off the record chats in pubs and coffees shops with someone who can understand veiled, nuanced asides, BSDs still want a bag carrier and spreadsheet/pitchbook/latte monkey in the same timezone. Yes, large-scale, thematic, quant-driven research will be completed to a very high standard in India … but anything that is client-facing, in the short-term - forget it.