College graduates in India who speak good English are finding great opportunities in the booming business outsourcing industry. Average pay rates of $300 a month are enough for these workers to afford motorcycles and a maid who cooks. Competition for these workers is so tight that some companies are offering perks like employee shuttle buses to work and cafeterias and recreation rooms.

With turnover rates in the area averaging more than 40%, employers have to get creative about retaining workers. Local companies also have to compete with the prestige that comes with American company names. Manpower, for example, offers 4,000 courses and programs for its entry-level customer service agents. Progeon, a subsidiary of IT consultant Infosys in the area offers shuttle buses, food courts, health care, gyms, and special employee shops offering discounts on brand names. The company even has a "chief fun officer" to promote fun at work.

The biggest challenge for employers in the area is the unrelenting demand for Indian knowledge workers, resulting in rapid rises in salaries and the need to distinguish their brand in the marketplace. Focusing on benefits helps to keep salaries from getting out of control.

When the hiring boom slows down, college graduates hoping to move into management positions with American companies may find themselves much like their counterparts in the U.S. did when the dot-com era went from boom to bust. They will need to go back to school to get advanced degrees.