Interesting discussion.

Rather than stating my opinion I will post some information about me ( some things are slightly altered to ensure anonymity)

I returned to Nepal in April 2009 after spending ~6 years in the US. I graduated with a Bachelors in Finance from a decent US University (Top 40 US News Rankings), worked for 1 year on OPT, worked for 1 year on H1 and returned to Nepal. Currently, I am working as a Finance Officer for an INGO in Nepal. I earn ~35,000(gross pay) monthly which is ~11% of what I used to make in the US.

Hopefully this information will help some of you to make an informed choice.

As for why I returned to Nepal with just a bachelors degree

1) I had average grades (~3.5 gpa) and average GMAT score(~650) so I couldn't get into any good(top 15) Masters Program. I got into okay schools only. May be I was aiming too high.

2) I didn't return out of patriotism nor did I return because I couldn't find a job. I returned because of selfish reasons. I was fed up with living as an average Joe in the US. In US I was just another college graduate working for an average company but I felt if I returned to Nepal I will be special, I felt I would get respect from people because of my US degree; it took me 1 month in Nepal to realize how wrong I was. A bachelors degree doesn't mean anything in Nepal thesedays. I should have returned with at least a Masters (or preferably a PhD)

I like it in Nepal. I haven't tried to come back to the US on a H1 visa.