1crore plus salary - why India?
Question to people earning more than 1crore plus salary? Why do you bear this bs taxation and pathetic quality of life? Why not move out? Also how do you manage your taxation?
Talking product sense with Ridhi
9 min AI interview5 questions
- Mostly parents and family ties I imagine
- Lack of sense of belonging in a foreign country
I think this is the only reasonable reason
Because India is soulful? Unlike North and Eastern European hell
Because Total Compensation in India is 1/3 of USA but cost of living is 1/5 also you wouldn't get much more TC in other countries apart from USA.
Hello from a colleague. Is compensation everything?
Does the ratio really matter, isnt what absolute amount you have after expenses matter?
Several reasons actually.
As someone already replied, cost of living is a fraction of other developed countries. In my estimation, it can be as much as 1/6th for frequent expenses like eating out. Housing costs in the bay area are a disaster. You can build a nice nest-egg and retire comfortably in India with that kind of salary. Travel the world when India becomes too much to bear. If you do travel within India, you can stay in places that are super nice. Think of Taj hotels, CGHs, Oberoi etc. It would be impossible to find equivalent service in other countries. Access to cheap physical labor: Ecom, quick, drivers, maids, nannies, cooks help free up a lot of time that you can spend on hobbies and working out. At that salary level, you can live in a gated community and cut yourself off from real India. You can create your own substitutes for stuff that does not work: water, electricity, lack of open spaces. There are not too many places in the world which are welcoming and have high-paying jobs. EU, ANZ, Canada just don't pay enough and have really high COL. Every other centre is hit and miss w.r.t acceptance of foreigners and quantum of jobs. That pretty much leaves only the US. Plus there is an intangible benefit that you will feel genuinely well off in India at that salary level compared to your peers and definitely the rest of the country. With an equivalent job in Bay area, you will feel middle class at best.
Fair points and would love to what’s your take on London. Though only Meta and few can provide higher salary and only move out option will be to internal transfer for USA.
But don’t you think COL and amenities with access to better infrastructure will compensate for the cost Extra you pay?
Thanks for writing this @movepixels
All those companies, are they giving WFH?
All those countries are providing work, quality healthcare, infrastructure, education.
Parents
I am someone who has lived in USA for a year and now am in India earning 1Cr+, so I can give first hand perspective.
- earning 1cr in India is equivalent to earning 500K+ in USA. It’s very difficult to get such high paying jobs in USA and Europe.
- househelps. In India we have 5 people working for us and we pay less than 80k (2 nannies for two kids, cook, maid, someone for cleaning car, I can also hire driver but don’t need it atm). In USA/Europe it’s very difficult to afford such help.
- generally ppl with such salaries are in late 30s. Parents are getting old and need medical attention. This is the time they want to live near to you.
- belonging to community. In foreign countries you lack confidence. There is racism and you don’t have that sense of belonging.
I concur with you for all points. Even though I believe comparing 1Cr with 500K USD may be little exaggerated
Nowadays only those are going to US who couldn't get a high paying job in India. Top talent is staying in India some are even earning US TC while working from India.
Affordable healthcare
And better for savings
Also tier 1 citizen
Because this is home and you don’t just leave home right?