80k is sufficient amount to start with. Don't worry much about it. Having said that, your expanses and savings are entirely your discretion.
Rest assured, you're getting a great deal and will be in a better position than majority of the immigrant population. Project Management is in a great demand, and you will only go up from there. An year and a few successful projects in your kitty, you will be worth about (or more than) 125k/annum.
So, hop on!
Quote:
Originally posted by Fido
I think your take home would be 4.5K pm with health coverage.
Your expense would range b/w 2 - 2.5K pm... lets consider 2.5K
Your savings would be 2K pm which is greater than Rs 1 lac pm or what you are making in total currently.
Assuming that out of your current salary of 1 lac pm you are able to save INR 60K pm.
Your increased saving pm would be 110-60 = 50K pm or 6 lacs more per year ...
This offer would be equivalent to getting INR 1.75 lacs gross in India.
Your call !!
BTW - Is your current salary of 1lac / month before or after taxes ?
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Are you there?
Looking into both side of coins,
80K is good package for a starter in NA. It is sufficient (more than) to live and save and enjoy life considering only 14.2% of Canadians earn above 75K and only 7% above 100k. Moreover for an Indian family, who cook at home all days, savings will be high with that salary.
but is it an extremely good package? , nope. It is like starting salary for project manager in IT. It also depends what kind of IT projects are in discussion. I am sure 6-7 months down the line , seeing around and comparing with peers (basic Indian Nature) , OP will start to feel that he should have got better deal.
BL said it right, that OP should know his long term plans, if wanting to migrate , there is no better option to migrate with job in hand and fly on company expenses. If wanting to save money and go back eventually , still is a good option with some emotional distress and social life disruption not once but twice you remember.
Experience gain will be key factor , If I 'll have to take such decision.
Btw , your kids will be at larger gain if you spend 1-2 years in Canada and even go back, better language skills, good exposure and possible gain in confidence. Will go long way. No salary package can count in that.
Quote:
Originally posted by san-hugo
Btw , your kids will be at larger gain if you spend 1-2 years in Canada and even go back, better language skills, good exposure and possible gain in confidence.
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A Delhite in Toronto
Sasi,
I am also based in Kerala. So PM me, if you need more info.. If need be I can come by your house and advise you with the internet as a tool.
Most points have been given by Seniors and they are all valid.
The OP said that he has no children so let us not take the thread that way.
I will give you 2 options to live and you choose :
1. Kanjoos option
Basement - $ 700 per month
Bus pass for 2 - $ 220
Food (cooked at home)- $ 200 a month
Entertainment - $ 100
Phone / internet / TV - $ 200
Total - $ 1420
2. Liberal option
Condo - $ 1200
Car insurance - $ 300 (Initial cost $ 5000 for a good second hand car)
Gas- $ 100
Food - $ 300 a month
Entertainment- $150
Phone / internet / TV- $ 200
Total -
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I am a Gents and not a Ladies.
Quote:
Originally posted by Sasi007
Hi,
I am an IT Project Manager with 10+ years of experience in India and my company is transferring me to our new Canada office in Mississauga (ICT-Intra Company transfer). I am offered CAD 80K per annum + other benefits (health insurance, bonus etc.) . Is this a good offer to accept? We are a family of two (me and wife only). What will be the standard living cost in Mississauga for a small family (rent for 1 bed room apartment, other costs)? Now I am getting INR 1 Lakh per month in India.
Quote:
Originally posted by tamilkuravan
1. Kanjoos option
Bus pass for 2 - $ 220
Food (cooked at home)- $ 200 a month
Quote:
Originally posted by tamilkuravan
2. Liberal option
Condo - $ 1200
Car insurance - $ 300 (Initial cost $ 5000 for a good second hand car)
Gas- $ 100
Food - $ 300 a month
Entertainment- $150
Phone / internet / TV- $ 200
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SS
Reiki Grand Master
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