An addendum: The consultancies (TCS, Infy, Accenture, IBM, Capgemini, Wipro etc.) are also to blame. They've kept salaries stagnant for over 15 years, particularly for fresh college graduates (yes, this is in part due to a glut).
They also offer employment abroad as a carrot to incentivize employees sticking with them for long periods of time in unfavorable conditions(Most co.s have high attrition rates - due to the low salaries). The companies also maintain a bond : you have to pay the company if you quit before completing 'x' years of service per contract. They withhold your experience certificate if you don't; a common requirement of any new company you hop ship to.
Most outsourced tech work is manual dreary labor. I've been on that side for 2 years.
They also offer employment abroad as a carrot to incentivize employees sticking with them for long periods of time in unfavorable conditions(Most co.s have high attrition rates - due to the low salaries). The companies also maintain a bond : you have to pay the company if you quit before completing 'x' years of service per contract. They withhold your experience certificate if you don't; a common requirement of any new company you hop ship to.
Most outsourced tech work is manual dreary labor. I've been on that side for 2 years.