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The problem is the under cutting and fee competition the firms have engaged in - domestic billing rates have hardly gone up, so naturally after few years the salary jumps will stall
When English firms could not face American competition and capital, these tiny Indian firms will wilt in one week of foreign firms being allowed. They are relishing anti-competitive landscape. But how long will they hold out? But problem is bigger. Most new firms coming up are by former folks at these Indian firms. They create replicas of Indian firms. While everyone wants Dollar fee but nobody wants American professionalism, egalitarianism, and individualism.
Most people are just sticking around because they’re comfortable.