I was basically one of the offshore resources in a third world country mentioned in the other comments that gets payed peanuts (USD 420 a month to be precise, minimum wage in my country) and has zero experience but gets sold like he is a senior engineer. All my team was like that, there were only trainees and 2 semi seniors on my team. My "architect" didn't knew Java at all, the language of the project, and the person sitting besides me didn't knew what a bubble sort was but was trying to implement a sorting algorithm in C as part of the software that controlled the entire mobile telecom network for Spain (did not end well).
The culture is up or out, completely cutthroat, a nightmare. They apply something called "the tooth paste tube principle" to their employees: the more you squeeze, the more it comes out (I actually heard that from one of the managers there). The model is endless armies of low wage trainees on third world countries that get sold as "seniors" and get pay little so they will take as much overtime as possible to actually make a living wage. The good thing? They will hire almost anybody and they give you a month full time training free before you start, so if you want a place to start with a very low entry bar or are looking for free training, or you are a sociopath and like playing power games with people and walking over them, this is you place.
If I sound bitter 15 years later it's because I still am.