An interesting snippet from an IEEE consulting conference here in Silicon Valley earlier this month:
Our panel moderator, Thomas Iddings, will also introduce the hot button topic called the “80% overseas” rule. Venture Capitalists are now saying “Send 80% of the engineering work overseas.” As a condition of funding, new start-ups are getting locked into this requirement.
Large companies like Cisco, are also considering the cost saving benefits of overseas engineering. The $/hr rate impact to us, could be long term, in some specialties.
Thomas will ask each panelist to share their opinions about which engineering jobs will remain in the valley, and why. Unless you are prepared to compete with India on price, you may want to focus your engineering efforts on those tasks that will not be going overseas soon. Or else, develop a second career, immediately. And, what’s going to be the impact on house prices, long term?
Would it be patriotic or unpatriotic to help facilitate the sending of electronic engineering work overseas? Will that be the only engineering job left, some day?