CAREER GUIDELINES: INFORMATION SYSTEMS AND YOUR CAREER

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1 CAREER GUIDELINES: INFORMATION SYSTEMS AND YOUR CAREER Kenneth C. Laudon Stern School of Business New York University 2007 It's not business as usual, and it's not the same old labor market either. Work and careers are changing, and for you to succeed in this new labor market you will need a broad skill set if you are to help business firms achieve their objectives. In the next six years, looking out to 2012, the American economy will create 21.6 million new jobs, expanding the labor force to 165 million. In this same period about 28.5 million existing jobs will open up because their occupants will retire. Over 95% of the new jobs will be created in the service sector with minimal growth in the manufacturing sector (about 3.5%). Nearly all the new jobs, and the replacement jobs, will require a college degree to perform. What this means is that American business firms are looking for candidates who have a broad range of liberal arts skills the ability to read, write and present ideas as well as the technical skills required for specific tasks. Over this same period American firms will be investing a total of $16.1 trillion on information systems and technologies in an effort to achieve the business objectives we have described previously (operational efficiency, new products and services, customer/supplier intimacy, improved decision making, competitive advantage, and survival). What this means for business school graduates is that regardless of what your business school major, or your future occupation, information systems and technologies will be playing a major and expanding role in your day to day work and your career. Your career opportunities, and your compensation, will in part depend on your ability to help business firms use information systems to achieve their objectives. In the section below we describe how specific occupations will be affected by information systems and what skills you should be building in order to function effectively in this new, emerging labor market (U.S. Bureau of Labor Statistics, 2005; Statistical Abstract ). ACCOUNTING Accountants and auditors help to ensure that firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. There are about 1.1 million accountants in the labor force to day, and the field is expected to expand by 20% to the year 2012 by adding 200,000 new jobs, and similar number required for replacement of retirees. This above average growth in accounting is in part driven by new accounting laws for public companies, greater scrutiny of public and private firms business by government tax auditors, and a growing demand for management and operational advice. There are many different types of accountants which can be broadly classified as public accountants, management accountants, government accountants, and internal auditors. Accountants provide a broad range of services to business firms including preparing, analyzing, and verifying financial documents in order to provide information to clients, budget analysis, financial and investment planning, information technology consulting, and limited legal services. In addition, a new, rapid growing specialty called forensic accounting has emerged as a result of the financial scandals in public firms. Forensic accountants investigate white collar crimes such as securities fraud and embezzlement, bankruptcies and contract disputes, and other possibly criminal financial transactions. Forensic accountants require knowl- 1

2 2 Career Guidelines Information Systems and Your Career edge of accounting and finance as well as familiarity with law and investigative techniques in order to determine if illegal activity is going on. Accounting was one of the very first applications of computers beginning as early as the 1950 s when the first commercial computers were used to develop accounting information systems, including general ledge, payroll, and management accounting systems. In the next six years information systems will have a massive effect on the work performed by accountants and auditors. Using enterprise systems (described later) and other specialized packaged software, accountants will rely on information systems to summarize transactions, create financial records, organize data and perform financial analysis. In fact there is no way that firms today can perform even basic accounting functions without extensive investment in systems. Increasingly, as access to systems becomes more mobile and wireless, auditors will perform there work using mobile workstations and wireless connections. As a result, accountants and auditors will require extensive computer skills to understand the new software, correct problems with software, and to help develop software to meet the changing needs of management and business. As a result of new public laws, accountants are beginning to perform more technical duties, such as implementing, controlling, and auditing systems and networks, and developing technology plans and budgets. What kinds of information system skills are really important for accounting majors given these changes in the accounting profession? Here is a short list: Knowledge of current likely future changes in information system infrastructure including hardware, software and telecommunications that will be used by public and private firms, government agencies, and financial advisors as they perform auditing and accounting functions. This would include an understanding of accounting and financial database systems and design factors to ensure firms are able to maintain accounting records and perform auditing functions, and an understanding of system and network security issues which are vital to protect the integrity of accounting systems. Understanding of the new role played by enterprise systems for achieving corporate wide financial reporting on a global and national scale. Because so many transactions are occurring over the Internet, accountants need to understand online transaction and reporting systems, and how systems are used to achieve management accounting functions in an online, wireless and mobile business environment. Ability to participate in the design and implementation of new accounting and auditing systems, work with technical specialists and systems designers, and work with software packages that provide accounting information. which impose constraints on public and private accounting systems. FINANCE Finance majors perform a wide variety of jobs in the U.S. economy. Financial managers develop financial reports, direct investment activities, and implement cash management strategies. There are about 600,000 financial managers in the labor force and this occupation is expected to grow by about 20% to 2012, adding about 120,000 new jobs, and requiring the replacement of about 100,000 additional jobs. Financial manager jobs are among the most highly compensated jobs in the U.S. economy, with a median salary of $73,000, but much higher salaries for senior financial managers. In addition, there is a huge finan-

3 Career Guidelines Information Systems and Your Career 3 cial service industry (which includes banking, brokerage, insurance and real estate industries) which employs many more college graduates who are finance majors. The financial services industry alone employs more than 7% of the labor force, or about 10 million people. This includes job titles such as broker, trader, sales representatives, insurance agents, bank officers, and a variety of real estate occupations and job titles. Employment growth in the financial services industry is expected to be above average as more American's retire and need extensive financial advice and services. In the next six years the financial services sector employment is expected to add an additional 1 million new jobs, and replace another 800,000. Because information systems, and a new legal environment which imposes new, strict rules on financial reporting, are increasingly vital to the performance of financial management, advice and service, financial managers require strong system skills, and play an important role in planning, organizing and implementing information system strategies for their firms. Financial managers work directly with a firm s Board of Directors, CEO and Chief Information Officer (CIO) to ensure investments in information systems help achieve corporate goals and achieve high returns. When compared to other industries, financial service firms are the most intensive investors in information systems and technologies, spending as much as 60% of their capital each year on systems and technologies. Each of the many job titles in this sector involve working with information systems to ensure the financial health of firms, agencies and private investors. In fact, the relationship between information systems and the practice of modern financial management and services is so strong, that many advise finance majors to also co-major in information systems (and vica-versa). What kinds of information system skills should finance majors develop? Below is brief list of general skills: An understanding of likely future changes in information system infrastructure including hardware, software and telecommunications that will be used by financial managers and financial service firms. This would include an understanding of financial database systems and design factors to ensure firms are able to manage their investments, manage cash, and manage their risks; the use of new kinds of mobile and wireless hardware to manage financial reporting; development of online systems for financial transactions. As new trading systems emerge, financial service firms and managers will need to understand how these systems work and how they will change their firm's business. Knowledge of the new role played by enterprise wide financial reporting systems for achieving corporate wide financial reporting on a global and national scale. As more and more transactions move online, finance majors need to understand online transaction reporting systems, and how systems are used to achieve the firm's financial goals. Increasingly, as customer move towards online transactions, financial service firms are required to make extensive investments in online systems. Ability to participate in the design and implementation of new financial reporting systems, work with technical specialists and systems designers, and work with software packages that provide financial information. which impose constraints on financial reporting, and set new standards for financial reporting.

4 4 Career Guidelines Information Systems and Your Career MARKETING Perhaps no other field has undergone more technology-driven change in the past five years than marketing and advertising. The sea change in marketing and advertising is Internet driven. Online e-commerce continues to expand at a torrid 25% in the B2C sector, amounting to about $175 billion in retail trade; B2B commerce passed the $5 trillion mark in 2006; and more than 175 million Americans not to mention over 1 billion other people around the world are now connected to the Internet. These recent changes mean that the eyeballs are moving rapidly to the Internet. As a result, Internet advertising is the fastest growing form of advertising, growing at over 30% annually, and reaching $13 billion in 2006 (when other forms of marketing communications are growing at a much slower 5% rate). All this means that branding products and communicating with customers is moving online at a fast pace. Marketing majors perform a wide variety of jobs in U.S. industry. There are three major categories of jobs: marketing, sales, and public relations. In each of these categories college degrees are mandatory, and marketing requires strong creative, writing, and analysis skills. Marketing managers develop the firm s detailed marketing and branding strategy and work with product development managers, market research managers, creative and media managers, and promotion managers. Sales managers are responsible for making sales which includes managing a sales force, developing sales campaigns, and ensuring sales meet business targets. Public relations managers develop publicity programs that support the firms overall marketing and sales objectives, and communicate with key constituencies like shareholders, consumers, and government regulators. There are multiple entry-level positions in marketing which include job titles such as marketing assistant, creative writer, media consultant, and market research assistant; sales representatives, sales analyst, and sales force trainer; public relations assistant, copy writers, and media reporter. There are about 900,000 marketing, promotions, public relations, sales, and advertising managers in the 2005 labor force, and this field is growing faster than average, and is expected to add over 200,000 jobs by 2012, and replace an additional 150,000 employees who are retiring. The median salary of this group is approximately $72,000. There is a much larger group of 2.6 million non-managerial employees in marketing-related occupations (Arts, design, entertainment, sports, and media occupations), and more than 15.9 million employees in sales. These occupations together are expected to add and additional 1.8 million jobs by For each of the major occupational groups within marketing, information systems skills are crucial as marketing activities, branding, promotion, and public relations increasingly involve an understanding of the Internet as well as major internal marketing and sales information systems. The field of marketing including sales and public relations has also been effected by major changes in legislation just like accounting and finance, and major lawsuits, involving product liability claims, misrepresentation, and fraud. Marketing and sales managers are increasingly held partially responsible for product claims, and product promotion strategies. This new legal and ethical environment forces marketing and sales managers to become involved in corporate record retention policies for , and other records. Below are the general information systems skills that marketing majors should focus on:

5 Career Guidelines Information Systems and Your Career 5 An ability to understand emerging new hardware and software platforms, and how they impact on traditional marketing activities like brand development, production promotion and sales. This would include an understanding of marketing database systems and design factors to ensure firms are able to market their products, develop reports on product performance, retrieve feedback from customers, and manage product development. An understanding of how enterprise wide systems for product management, sales force management, and customer relationship management systems are used to develop products that consumers want, to manage the customer relationship, and to manage an increasingly mobile sales force. An ability to participate in the design and implementation of new marketing and advertising reporting systems, work with technical specialists and systems designers, and work with software packages that provide marketing and sales information. which impose constraints on marketing and advertising claims, record retention, and public relations statements to consumers, government regulators, and shareholders. MANAGEMENT Management is the largest single group in the U.S. business labor force with over 14 million members in the labor force, not including an additional 547,000 management consultants. Overall, the management corps in the U.S. is expected to expand faster than other occupational groups, adding about 3.8 million new jobs by 2012, with about 2 million replacement openings in this period due to retirements. There are over twenty different types of managers tracked by the Bureau of Labor Statistics, all the way from Chief Executive Officer, to human resource managers, production managers, project managers, lodging managers, medical managers and community service managers. Managers perform a wide range of activities in all industries throughout the economy including planning, leading, organizing, coordinating and communicating. Managers are above responsible for the efficient operation of business firms and supervision of employees. The median compensation for managers in the U.S. is $52,000 although many middle and senior managers earn a great deal more. There are three major categories of management jobs: supervisor, middle management, and senior management. Supervisors directly manage day to day operations and directly supervise employees in the performance of their jobs. Middle management is concerned primarily with monitoring overall operational performance, developing new products and services, meeting business objectives and targets, and reporting to senior management. Senior management is concerned primarily with deciding on what products and services to produce, what markets to enter, monitoring overall performance, and reporting to shareholders and the public. Most management jobs today require college degrees, strong leadership, analytic, and presentation and writing skills. For each of the different types of managers information systems skills are crucial as the job of management increasingly is enabled by digital technologies like the Internet, , cell phones, Blackberrys, and that permit managers to more precisely observe and keep track of employees, customers, suppliers, and firm performance in short, to improve decision making. As with other business fields, management is under increasing social, ethical and legal scrutiny of both government regulators and the public. It is management, for instance, that is responsible for meeting equal employment opportunity guidelines,

6 6 Career Guidelines Information Systems and Your Career occupational health and safety requirements, public health requirements, information retention policies, and a host of requirements mandated by law. The job of management has been transformed by information systems, and arguably it would be impossible to manage business firms today without the extensive use of information systems, even very small firms. What this means is that nearly all of the 14 million managers in the U.S. use information systems and technologies everyday to accomplish their jobs, from desktop productivity tools, to enterprise systems, supply management systems, customer relationship management systems, and knowledge management systems (all described in greater detail in following chapters). Below are the general information systems skills that marketing majors should focus on: Knowledge of new hardware and software that can make management more efficient and effective, enhance leadership and coordination capabilities, and improve the achievement of corporate business objectives in the broadest sense. This would include an understanding of the role which databases play in managing information resources of the firm. An in-depth understanding of how enterprise wide information systems for production management, supplier manbagement, sales force management, and customer relationship management systems are used to achieve efficient operations and meet other firm objectives. An ability to participate in the design and implementation of new management systems, work with technical specialists and systems designers to ensure system meet corporate objectives, and work with software packages that enable management such as spreadsheets, presentation software, and document processing. which impose constraints on management, including the reporting requirements of the firm, record retention policies, and customer privacy policies. OPERATIONS MANAGEMENT IN SERVICES AND MANUFACTURING The growing size and complexity of modern industrial production and the emergence of huge global service companies has created a growing demand for employees who can coordinate and optimize the resources used to produce goods and services. Operations management as a discipline is directly relevant to three occupational categories: industrial production managers, administrative service managers, and operations analysts. Industrial production managers work in goods production and are responsible for production planning, staffing, procurement, quality control, inventory control, and coordination with other departments like marketing and finance. Today's production managers work in highly computerized environments where the flow of raw, intermediate and final products are very precisely coordinated to reduce inventory costs to a minimum, speed time to market, and achieve exceptionally high quality. Production managers are the leaders in efforts to achieve high levels of production efficiency such as Total Quality Management (TQM), ISO 9000, Six Sigma, Just-in-time production, and mass customization. Each of these programs requires extensive production data and intensive use of information systems. Administrative service managers work in service organizations such a banks, insurance companies, food services, hotels and lodging services, and government services, which together employ over 60% of the labor force and generate

7 Career Guidelines Information Systems and Your Career 7 over 40% of the gross domestic product. Administrative service managers like their industrial production manager cousins described above are responsible for allocating and coordinating the resources and human resources needed to produce services. They utilize many of the same quality management techniques pioneered in manufacturing described above. Operations analysts (also known as operations research analysts ) use analytical methods from mathematics and engineering to solve business problems. They work on diverse problems such as planning and forecasting, performance management, scheduling, facilities design, supply chain management, transportation and distribution, often relying on the analysis of data stored in large databases. There are about 180,000 industrial production managers in the labor force and future growth in these occupations will be average or below average, between 3% and 9% through There are about 60,000 operations analysts in the labor force, and this group also is expected to grow slowly through The slow growth in production management and operations analysts positions is in part due to the slow down in the growth of industrial production in the U.S., as well as the increases in productivity in the remaining factories, and changes in management technique which push quality control down to the factory floor level and machine operators, reducing the need for supervision. However, employment opportunities in this field will be good as organizations throughout the economy especially in the service sector strive to improve their efficiency and competitiveness through the use of massive databases, and analysis of production data. There are about 320,000 administrative services managers in the labor force almost all in the service sector and these jobs are expected to grow as fast as average or about 15% through Expanding job opportunities in this field will result from a growing emphasis in the service sector on the use of databases and analytic software as tools to improve the efficiency and effectiveness of services delivery. While industrial production will continue to expand in the U.S., the number of people employed at all levels in industry will remain static or decline slightly. However, the services sector will be expanding rapidly, creating strong job opportunities for operations management majors as business firms in diverse service sector industries from finance, to real estate, restaurants, lodging and travel seek to improve operations. The work of production managers and operations analysts is heavily dependent on the extensive use of databases and business analytic software. As with general managers, production managers and service managers will be using information systems and technologies everyday to accomplish their jobs, from desktop productivity tools, to enterprise systems, supply management systems, customer relationship management systems, and knowledge management systems (all described in greater detail in following chapters). Below are the general information systems skills that operations management majors should focus on: Knowledge of the changing hardware and software platforms that will be used in production management.this would include an understanding of the role which databases play in production and services management. An in-depth understanding of how enterprise wide information systems for production management, supplier management, sales force management, and customer relationship management systems are used to achieve efficient operations and meet other firm objectives.

8 8 Career Guidelines Information Systems and Your Career An ability to participate in the design and implementation of new management systems, work with technical specialists and systems designers to ensure system meet corporate objectives, and work with software packages that enable management such as spreadsheets, presentation software, and document processing. which impose constraints on management, including the reporting requirements of the firm, record retention policies, and customer privacy policies. INFORMATION SYSTEMS The explosive growth of business information systems has generated a growing demand for information systems employees and managers who, working with other business professionals in accounting, finance, marketing, and general management, design and develop new hardware and software systems to serve the needs of business. Of the top 20 fastest growing occupations through 2012, five are information system occupations. The information systems occupations can broadly be separated into two groups: technical and managerial although the distinction can be fluid. Technical information systems specialists focus primarily on the building of new systems and the maintenance and operations of existing systems. Managerial information systems specialists focus on the management of existing systems, planning and implementing new systems, and coordinating the overall systems effort with the larger business objectives and other business managers. The managerial specialists focus more on customers, suppliers, employees, and other business constituencies and seek to find applications of information systems which directly impact the revenue and profit picture of the firm. In the technical areas, there are about 1 million computer systems analysts, programmers and programmer analysts, database administrators, Web masters, Web developers, and computer scientists in the U.S. labor force, and they are expected to grow at above average rates to produce nearly 400,000 new jobs by 2012, and another 200,000 replacement jobs. This is more than a 36% growth rate to 2012, making it one of the fastest growing but not largest in numbers occupational groups. Information systems managers direct the work of systems analysts, computer programmers, support specialists, and other computer-related workers, and provide the interface between the firm's technology platforms and business objectives. Information system managers have a variety of occupational titles: Chief Technology Officer, Chief Information Officer, Management Information System Director, Project manager, and Network Managers. These managers plan and coordinate the maintenance of existing systems, installation of new hardware and software, development of new programs and information systems, use of computer networks, and the implementation of Internet and intranet sites. Information systems managers are at the intersection of business and technology because they need to both understand business operations and objectives, and understand how information systems and technologies can be used to achieve these objectives. Increasingly, as the nation's businesses and government agencies rely on the Internet for communication and computing resources, system and network security management titles are growing very rapidly. There are about 284,000 information system managers in the U.S. with an estimated growth of 36% through 2012, expanding the number of new jobs by over 100,000 new positions, with an additional 50,000 new hires required for replacements.

9 The information systems field is arguably one of the most fast-changing and dynamic of all the business professions because it is directly tied to the rapid evolution of information technologies from the Internet to client/server computing, to an explosion in telecommunications bandwidth and because it is recognized as one of the most important tools available to business firms for achieving key business objectives like operational efficiency, customer intimacy, improved decision making, new products and services, and even survival of the firm. Outsourcing. The Internet has created new opportunities for outsourcing many information systems jobs, along with many other service sector and manufacturing jobs. Off-shore outsourcing to low-wage countries has been controversial as U.S. workers fear it will reduce demand for U.S. IS employment. However this fear is unwarranted given the huge demand for new IS hires in the U.S. through In fact, reducing the cost of providing IS and IT services to U.S. corporations by off-shoring labor intensive and lower level jobs, may increase the demand for U.S. based IS workers as firms find the price of investing in information systems falls relative to other capital investments while its power to improve top-line revenues and bottom-line profits increases. There are two kinds of outsourcing: outsourcing to domestic U.S. firms and off-shore outsourcing to low-wage countries like India and eastern European countries. However even this distinction becomes problematic as domestic service providers like IBM develop global outsourcing centers in India. Domestic outsourcing is driven primarily by the fact that outsourcing firms possess skills, resources, and assets which compliment the in-house skills, resources and assets of the purchasing firm. For instance, to install a new supply chain management system may require hiring an additional 400 people for 12 months with specific skills in a supply chain management system licensed, say, from SAP, a large software firm. Rather than hire permanent new employees, most of whom would need extensive training in the software package, and then release them after the project is built, its makes more sense, and is often less expensive, to outsource this work to a providing firm for a 12 month period. Providing service firms also achieve economies of scale by providing similar skills and services to multiple firms. Hence, in many cases providing firms have a cost advantage. In the case of off-shore outsourcing, the decision tends to be much more cost driven than complimentary skill driven. Off-shore firms benefit from wage structures which are 25-35% less than in domestic firms although this wage cost advantage has diminished considerably in the last five years, and is likely to diminish even further as IT wages in countries like India advance at about 14% a year. The impact of domestic outsourcing on the overall demand for IT employment through 2012 is most likely quite small. Service provider firms like IBM, Hewlett Packard, and Accenture add domestic IT employees as they expand their domestic IT services, while domestic IT departments lose some employees, or do not hire new employees. The likely impact of off-shore outsourcing on U.S. domestic IT jobs is more problematic because, ostensibly, jobs that move off-shore decrease demand for workers in the U.S. First, the most successful off-shore outsourcing projects involve production programming and legacy system maintenance programming work, along with call-center work related to customer relationship management systems (Gurbaxani and Jorion, 2005). Hence the largest impact of offshore outsourcing will mostly likely be on technical positions in IS, and less on IS managerial occupations. Second, the expected growth in Indian IT employment related to outsourcing is unlikely to fulfill the demand for over 600,000 Career Guidelines Information Systems and Your Career 9

10 10 Career Guidelines Information Systems and Your Career new IS/IT hires in the U.S. through 2012 described above. For instance, the three largest Indian outsourcers Wipro, InfoSys, and Tata Consultancy are currently adding IT workers at the rate of 18% a year (Thibodeau, 2004). Even if this rate continues through 2012 unlikely because of 14% wage inflation in India these three largest outsourcer firms will add at most 200,000 new workers. A considerable but unknown number of these workers will be outsourcing jobs from Europe and Asia, and the impact on the U.S. market will be reduced, to perhaps 150, 000 jobs. If more realistic long-term growth factors say 10% are used, the impact of Indian outsourcing on U.S. IS employment through 2012 is considerably reduced, amounting to at most 75,000 to 100,000 jobs which directly replace U.S. workers. In either case, off-shore outsourcing will have a small effect on U.S. IS employment prospects, with a very small effect on managerial positions and positions which require face-to-face communication with customers, suppliers, and employees. Moreover, it is also possible that by lowering the costs of providing IS/IT services to U.S. corporations, reducing the cost of IS/IT assets, investment in these systems will rise, not fall, as has been the case over the last decade. Given all these dynamic factors in the IS/IT labor market, what kinds of skills should IS majors focus on? Below is a list of general skills we believe will optimize your employment opportunities: An in-depth knowledge of how new and emerging hardware and software can be used by business firms to make them more efficient and effective, enhance customer and supplier intimacy, improve decision making, achieve competitive advantage, and ensure firm survival. This includes an in-depth understanding of databases, database design, implementation, and management. An in-depth understanding of how enterprise wide information systems for production management, supplier management, sales force management, and customer relationship management systems are used to achieve efficient operations and meet other firm objectives. An ability to lead in the design and implementation of new management systems, work with other business professionals to ensure systems meet business objectives, and work with software packages that enable management such as spreadsheets, presentation software, and document processing. which require firms to maintain records, achieve information transparency with regulators and the public, and achieve required levels of information security, confidentiality and privacy. IS AND YOUR CAREER WRAP-UP Looking back at the IS skills required for specific majors, there are some common themes that effect all the business majors. Below is a list of these common requirements for IS skills and knowledge: All business students regardless of major need an understanding of how information systems are used by firms to achieve business objectives like operational efficiency, new products and services, and customer intimacy. This theme is found throughout the labor force. Perhaps the most dominant theme which pervades this review of necessary job skills is the central role of databases in a modern firm. Each of the careers described above rely heavily in practice on databases.

11 Career Guidelines Information Systems and Your Career 11 With the pervasive growth in databases comes inevitably an exponential growth in digital information, and a resulting challenge to managers trying to understand all this information. Each of the occupations described above makes increasing use of business intelligence techniques to improve decision making. Regardless of major, business students need to develop skills in analysis of information and help firms understand and make sense out of their environments. All business majors need to be able to work with system designers who build and implement information systems. This is necessary to ensure that the systems which are built actually service business purposes and provide the information and understanding required by managers. Each of the business majors will be impacted by changes in the ethical, social and legal environment of business. Business school students need to understand how information systems can be used to meet business requirements for reporting to government regulators and the public. References Dell, Inc. Form 10-K for the fiscal year ended January 28, 2005, Wal-Mart. Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended January 31, 2005, Gurbaxani, Vijay and Phillippe Jorion, The Value of Information Systems Outsourcing Arrangements: An Event Study Analysis, Center for Research on IT and Organizations, University of California, Irvine, Calif., Draft April Thibodeau, Patrick, India Outsourcing Firms Report Surge in Hiring, Computerworld, October 15, Statistical Abstract of the United States, U.S. Department of Commerce, , U.S. Bureau of Labor Statistics, Tomorrow's Jobs,