In 2013, when Nationwide Insurance in Ohio chose technology company Guidewire to run its $9 billion worth of business on the latter’s core insurance offerings, it knew it was a big deal. What it did not realise was how difficult it would be to find people to spearhead that transformation. EY, the consulting company, was helping Guidewire understand how Nationwide operated its business so that its engineers could configure the software accordingly. To do that, it needed hundreds of business analysts who understood tech and insurance.
The H-1B linchpin
The H-1B visa is critical to not just the Indian IT sector’s business model but IT outsourcing globally
Donald Trump Administration may increase the minimum annual wage for H-1B visa holders to $130,000 from $60,000 at present
Sixty percent of the Indian IT export revenue comes from the US, as compared to 17% from the UK
Indian employees are paid around $70,000-$80,000 for a job on-site, but locals get paid at least $100,000
At the end of the day, the new visa regime raises the cost for IT companies as well as their clients, say experts