[northern-lights]

Not necessarily. There are costs and obstacles to moving (for example moving from India to US is extremely difficult these days).

[jojobas]

There sure are, but there's Australia, Canada, Europe and Middle East.

Results of offshoring to Bangalore is a stereotype, but it wasn't born from nothing.

[andrewaylett]

No -- it's born of attempts to cut costs.

I've worked with teams from Bangalore who were staff of the bank I was contracting for -- they were amazing, but also not appreciably (if at all) cheaper than employing someone in London or New York.

Several well-known banks had large offices, and competition for talent was high. No race for the bottom there.

It doesn't particularly matter where you employ people, if you're trying to save costs by paying people less then you're going to have a bad time.