people from top schools only started to head back recently due to various reasons, majority are still in U.S. They may also relocate to China eventually, but definitely not for $1000/month jobs.
I agree with you that no one is entitled to bigger money just because of a degree. some people may have a hard time right now. But look at the overall picture, the market for western educated professionals is still big. Companies are willing to pay the right price for the right people, and American corporates are ramping up hiring again. It is kind of paradox in China that oversupply at low end and shortage at high end coexist. As a matter of fact, placement for class of 04 improves substantially. China medias may also tune up soon in the coming years.
