Just try to win a project on any modern "freelancing" website and you will understand... personally i used to make solid money on Rent-A-Coder even before getting my CS degree and when they sell us to Freelancer, i started losing bids and the great bids were "closed" to only accept bid "first world developers" (ie US Developers) or limited to people that already paid for the website membership to get in so pretty much any bid today had like 20 indian developers working for 5c/hour.