Hi,
I received an offer for SAP position at Vancouver (with a good friend's reference). But now after reading up the cost of living around that place, I wonder if it's worth it.
Even if both of us land a job (and I guess if my wife make slighly less than I would) and after tax, make about 110-115k together, rent + daycare for two kids eat away 4k per month (1.5 rent, 1250/- per kid per month), plus another 1.5k for everything else, we will end up saving about 45k-50k per year I guess. Now I'm wondering if it's worth it, 'coz we save now ~35k per year (even at current INR to CAD exchange rates) here in India.
Please let me know if 110k post tax for two (around 55k post tax per person) is a good amount in Vancouver and if my calculations are realistic. Is 45k savings per year in Vancouver normal for a double earning family or is it on the lower side?
Thanks,
Shan
Location: God's own country
Posted on: 07-11-11 07:33:10
for SAP guys salary seems low.
I know B Sc Maths guys (in IT) in Toronto earning $ 90,000 + a year.
But generally the salary is good.
Vancouver is a costly city, but if you are kanjoos (like renting a basement, using public transit, using food bank), then you can save a lot.
Peace
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I am a Gents and not a Ladies.
Hi Taylormario,
Please find my suggestions below:
1) 50K saving after everything is considered very good in Canada.
2) I think for Kids day care, your number 1250 is little high. I am sure you can get some better options in Surrey area if not in Vancouver city.
3) I understand that you are making good amount of money in India and difference would just be 10k-15K. Believe me 7K will just be expenses, if you visit once a year with your family. So if I would be in your shoes I wont be looking at salary difference as main criteria to shift . Again everyone have their opinion. I am just trying to tell mine after being here for last 3 years which can help you in taking a better decision for yourself and your family.
Reasons for shifting:
1) From Job perspective, it would be better as it would give you a foreign experience or international experience and it will help you to progress to a management position (if you plan to shift back to India after 4, 5 years)
2) From second option in hand perspective, Canadian passport is good to have, given unforeseen circumstances in Asia(given unpredictable,hostile china and pakistan sharing borders with India unfortunately)
3) What will improve in case you shift -a) Less work(70% chance with good work life balance), b) Vancouver is one of best places on earth to live, that means being near to one of best natural beauty on earth. c) less and easy commute (as compared to Mumbai and Bangalore)
4) What you will sacrifice - a) You don't get cheaper maids here which means you need to put your time in ironing clothes, doing grocery and maintaining your house(which I am assuming upper middle class have servants to do this stuff in India saving them lot of time for socializing) b) You need to start your life once again building your social circle.
c) Even after few years, you will find ppl are not so socially active in meeting each other as its in India.
I can only give you plus and minus points but its your decision in the end. Many ppl come and shift back to India as it gives them better idea to compare by themselves.
Note: You get 90K plus salary once you get Canadian experience. Without Canadian experience if you are getting something in 80s then its not bad.
In any case, I don't expect ppl doing well in life to come up with a mentality of usuing foodbanks and renting a basement, so I am not even putting that option in front of you. Good life is measured by comfort and easiness that your job can bring rather than saving some bucks for generations to come and getting pleasure out of it.
Thanks
Quote:
Originally posted by taylormario
Hi,
I received an offer for SAP position at Vancouver (with a good friend's reference). But now after reading up the cost of living around that place, I wonder if it's worth it.
Even if both of us land a job (and I guess if my wife make slighly less than I would) and after tax, make about 110-115k together, rent + daycare for two kids eat away 4k per month (1.5 rent, 1250/- per kid per month), plus another 1.5k for everything else, we will end up saving about 45k-50k per year I guess. Now I'm wondering if it's worth it, 'coz we save now ~35k per year (even at current INR to CAD exchange rates) here in India.
Please let me know if 110k post tax for two (around 55k post tax per person) is a good amount in Vancouver and if my calculations are realistic. Is 45k savings per year in Vancouver normal for a double earning family or is it on the lower side?
Thanks,
Shan
Shan
From first year onwards, You have a luxury of saving the amount which is an average annual salary (before taxes) of a canadian (native included)...and still thinking ??
your kids will not stay in daycare for ever, soon they will go to schools, you can chose to give them free education or can pay also for better schools.
Is saving your only goal ? if yes pls stay back , you will be better off in India, western world works differently.
With that kind of family income , any calculation you do are realistic. and if you shed Indian attitude of screwing yourself while keeping ample amt of money in bank (kyonki ek naa ek din aasman gir hee padega!! ) , you will live in luxury with that amount be in Vanc or in Toronto.
If I 'll be you , I'll take the plunge without even holding my breath !
Quote:
Originally posted by tamilkuravan
for SAP guys salary seems low.
I know B Sc Maths guys (in IT) in Toronto earning $ 90,000 + a year.
But generally the salary is good.
Vancouver is a costly city, but if you are kanjoos (like renting a basement, using public transit, using food bank), then you can save a lot.
Peace
Tuks,
Yes, SAP consulting is less paid (but contractual pay is high).. here are reasons:
1. Not many consulting companies, so its easy for them to control salary. and also this gives SAP consultants lesser choice of job positions so they accept.
2. SAP consulting firms have brand value (IBM, Capgmeini), generally branded companies are not so good pay masters but experience with them can be cashed later.
3. Not many projects in Canada.
4. if you are manager level , you salary may come to par with IT industry PM level.
Still I would say,
Salary in IT industry works on no of years of experience so is in SAP world. In case Bsc maths have spent more years in IT than 2-3 yrs old in SAP or even IItian , he will bag more money.
Lets release the complete facts when we compare.
Peace
You compared the net savings and they are close may be +/- 10%...
1) Are you ready to leave the life in India with lifelong friends and family?
2) Do you prefer comparatively good quality of life over above point..e.g. Good infrastructure, clean air, less pollution
3) Are you willing to spend around 6 months wearing jackets
4) Are you willing to compromise on primary education of children..
If I could save around 35K in India I would be staying there. But if I want to get out of populated, polluted, corrupted environment by compromising rich culture, lifetime friends and families then I would be moving here since my savings are same. And one more thing considering technical background, as you gain more experience here your chances of earnings are more here compared to that in India...(my opinion)..
Quote:
Originally posted by taylormario
Hi,
I received an offer for SAP position at Vancouver (with a good friend's reference). But now after reading up the cost of living around that place, I wonder if it's worth it.
Even if both of us land a job (and I guess if my wife make slighly less than I would) and after tax, make about 110-115k together, rent + daycare for two kids eat away 4k per month (1.5 rent, 1250/- per kid per month), plus another 1.5k for everything else, we will end up saving about 45k-50k per year I guess. Now I'm wondering if it's worth it, 'coz we save now ~35k per year (even at current INR to CAD exchange rates) here in India.
Please let me know if 110k post tax for two (around 55k post tax per person) is a good amount in Vancouver and if my calculations are realistic. Is 45k savings per year in Vancouver normal for a double earning family or is it on the lower side?
Thanks,
Shan
btw , nanny @ 1500 pm is an alternative to 1250+1250 daycare expense ..
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Fido.
