IME at my org we have 3 contractors out of SE Asia to every 1 US FT role. They make less than a third of a FT US employee.
Yes, there is a ton of abuse that drives down pay for many people.
We should find way to improve the system.
Meh, not sure I really buy that argument. I've never had a problem hiring in the US. And this is for a mid-tier, mid-size software company that most people have never heard of, not located in SV, and PE-owned (not much in the way of big bonuses and no stock options).
I’ve interviewed hundreds of people over many years. Lucky to find one out of 10 that are good.
1/10 sounds in the ballpark - I think my ratio is better, but not by much. About half my interviews have been with candidates in India, half US, all for software engineering roles, mostly early to mid-career. Success rates weren't significantly different between the countries. Haven't had the chance to interview in Mexico yet, but we have an office there, so that'll probably happen soon.