Wall Street Journal correspondent Niraj Sheth on what to watch for if you’re tempted to escape the U.S. for India:
Not all of India is chugging along. For some people, prospects aren’t much brighter than they are anywhere else. Take finance. An Indian friend of mine who recently got laid off from Wall Street has been looking for a job on Indian trading desks in Mumbai. He’s made three week-long trips to India so far, interviewed at nearly a dozen firms but has had no luck getting offers yet. Things here, he says, might not be all that much different. And senior bank executives in Mumbai already have stacks of resumes from local bankers who have been thrown out of work as the big Wall Street banks have cut back. Most of the action now is in the domestic market, and in plain-vanilla lending, especially in rural areas. Main Street (even Main Path), not Dalal Street, Mumbai’s Wall Street.
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