Looking for a high-paying job? How about investing in a PhD degree first?
The Indian R&D sector is booming and so are salaries even as companies struggle to find scientists. The boom is being led by the pharmaceuticals sector with both Indian companies and multinationals expanding their R&D units to take advantage of India's scientific talent.
This report in the Business Standard says salaries in the range of Rs10-40m ($240,000-$975,000) are being paid to leading scientists in pharmaceutical companies. Salaries are steadily heading to international levels.
At this rate, how long will India enjoy the cost advantage? Not many years, I suspect. India cannot, in the future, rely only on cheap talent to draw R&D business from the West or even China.