As U.S. and European financial centers shed investment banking and other financial services jobs, Indian expatriates who have worked or studied overseas are giving their home country a second look. A “reverse brain drain” is being driven by their desire to catch the wave of India’s booming economy and to be near family again, reports financial services blog Livemint.com, published by the Wall Street Journal.
Some U.S. business schools are helping out by assisting their alumni in finding jobs in India. The Wharton School of Business, at the University of Pennsylvania, for instance, has set up a new website and a formal network of alumni contacts to give graduates better access to headhunters and investment banking job listings.
Many expatriates feel that business trends in emerging countries may make for a more stable banking environment than in the U.S., at least for the next few years. Others want to be part of the boom as India grows into a global economic power.