Kevin Barnes, a software engineer in Bangalore blogs the on-the-ground travails of hunting for software engineers there.
* "The practical reality is that anyone in India who can spell Java already has a job."
* "More experienced engineers do exist, especially a fairly sizable group that lived in the US and has returned to India, but the demand curve for the best of these is such that they may get paid as much as ten times what a fresh graduate gets paid."
* "The problem is purely economic. The demand has outstripped the supply for good engineers and as a result people who have no love for code (or even any like for it) have rushed in to fill the gap."
Interestingly, I received a link to this story from Stephen Haberman, a young programmer and entrepreneur I profiled last year in a story about the job competition with India.