From: "Robert Comer" 

Not at all surprising, and far more job types are affected than this limited study.

--
Bob Comer


"Adam"  wrote in message
news:4520f8b7{at}w3.nls.net...
> http://www.counterpunch.com/roberts09302006.html
>
> "attacks on middle-class jobs are lending new meaning to the
phrase "class
> war". The ladders of upward mobility are being dismantled. America, the
> land of opportunity, is giving way to ever deepening polarization between
> rich and poor."
>
>
> "Software engineers and information technology workers have been
> especially hard hit. Jobs offshoring, which began with call centers and
> back-office operations, is rapidly moving up the value chain. Business
> Week's Michael Mandel4 compared starting salaries in 2005 with those in
> 2001. He found a 12.7 per cent decline in computer science pay, a 12 per
> cent decline in computer engineering pay, and a 10.2 per cent decline in
> electrical engineering pay. Marketing salaries experienced a 6.5 per cent
> decline, and business administration salaries fell 5.7 per cent. Despite a
> make-work law for accountants known by the names of its congressional
> sponsors, Sarbanes-Oxley, even accounting majors, were offered 2.3 per
> cent less.
>
> Using the same sources as the Business Week article (salary data from the
> National Association of Colleges and Employers and Bureau of Labor
> Statistics data for inflation adjustment), professor Norm Matloff at the
> University of California, Davis, made the same comparison for master's
> degree graduates. He found that between 2001 and 2005 starting pay for
> master's degrees in computer science, computer engineering, and electrical
> engineering fell 6.6 per cent, 13.7 per cent, and 9.4 per cent
> respectively.
>
> On February 22, 2006, CNNMoney.com staff writer Shaheen Pasha5 reported
> that America's large financial institutions are moving "large portions of
> their investment banking operations abroad." Offshoring is now killing
> American jobs in research and analytic operations, foreign exchange
> trades, and highly complicated credit derivatives contracts. Deal-making
> responsibility itself may eventually move abroad. Deloitte Touche says
> that the financial services industry will move 20 per cent of its total
> costs base offshore by the end of 2010. As the costs are lower in India,
> the move will represent more than 20 per cent of the business. A job on
> Wall Street is a declining option for bright young persons with high
> stress tolerance as America's last remaining advantage is outsourced. "
>
>
> Adam

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