How much Indian salary would make u return?
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Posts: 2873
Location: Western Hemisphere
Posted on: 17-10-10 20:10:49
Location: Western Hemisphere
Posted on: 17-10-10 20:10:49
Quote:
Originally posted by pratickm
oh wait, so this is positive 6.3%?
The way you wrote above it looks like minus 6.3%.
That is why I said it is very bad for 12 years and why you still have it.
So yes positive 6.3% is not bad at all for a mutual fund, esp. one that has lived through 2000 - 2002 and now from 2007 - 2009.
It is doing better than the DJIA and the S&P500 and almost close to the TSX60 returns over this period, so it is beating the major indices.
Ok, sorry, my bad, that was a "dash", not a "minus". Thanks for the clarification. I feel quite better.
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Dimple2001
living break up of 1.25 lakh pm salary in Mumbai ( with my exp) after tax 80k
- living in a decent colony in andheri 2 bedroom flat - 35 k
- monthly grocery for a family of three - 10k
- Kids school for 1 ( good schools ) - 7k
- school bus - 1k
- Car EMI ( honda city ) -15k
- petrol ( monthly ) - 5k
- driver ( optional ) if ur office is in worli or beyond ) - 8k with overtime
( one side travel - 1.30 hrs)
- misc shopping , medical, eating out etc - - 5k
- Maid - - 2k
Total - 83k (conservative working - hand to mouth ) then you have investment to save tax and other incidental expenses
Quote:
Originally posted by looklook
living break up of 1.25 lakh pm salary in Mumbai ( with my exp) after tax 80k
- living in a decent colony in andheri 2 bedroom flat - 35 k
- monthly grocery for a family of three - 10k
- Kids school for 1 ( good schools ) - 7k
- school bus - 1k
- Car EMI ( honda city ) -15k
- petrol ( monthly ) - 5k
- driver ( optional ) if ur office is in worli or beyond ) - 8k with overtime
( one side travel - 1.30 hrs)
- misc shopping , medical, eating out etc - - 5k
- Maid - - 2k
Total - 83k (conservative working - hand to mouth ) then you have investment to save tax and other incidental expenses
It will be better if similar break up of expenses be shown in cities which are next to major metros. I can see that expenses are much higher in metros like Mumbai,Bangalore etc, but I don't think those are the only cities to live in.
Any input for the cities like Jaipur,Vadodara,Chandigarh, Panchkula etc. I am just picking up above average cities.
Posts: 2873
Location: Western Hemisphere
Posted on: 21-10-10 16:08:29
Location: Western Hemisphere
Posted on: 21-10-10 16:08:29
Quote:
Originally posted by looklook
living break up of 1.25 lakh pm salary in Mumbai ( with my exp) after tax 80k
- living in a decent colony in andheri 2 bedroom flat - 35 k
- monthly grocery for a family of three - 10k
- Kids school for 1 ( good schools ) - 7k
- school bus - 1k
- Car EMI ( honda city ) -15k
- petrol ( monthly ) - 5k
- driver ( optional ) if ur office is in worli or beyond ) - 8k with overtime
( one side travel - 1.30 hrs)
- misc shopping , medical, eating out etc - - 5k
- Maid - - 2k
Total - 83k (conservative working - hand to mouth ) then you have investment to save tax and other incidental expenses
All I can say is wow. Thanks for the details. It is eye opening as I don't have a clue what expenses could amount to these days in India. I left India when Rs 3000 - 4000 per month salary (if my memory serves me right) from Bajaj (in Mumbai/Pune area) was absolutely wonderful.
So you can sense my distortion.
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Dimple2001
Posts: 2873
Location: Western Hemisphere
Posted on: 21-10-10 16:17:23
Location: Western Hemisphere
Posted on: 21-10-10 16:17:23
Quote:
Originally posted by web2000
It will be better if similar break up of expenses be shown in cities which are next to major metros. I can see that expenses are much higher in metros like Mumbai,Bangalore etc, but I don't think those are the only cities to live in.
Any input for the cities like Jaipur,Vadodara,Chandigarh, Panchkula etc. I am just picking up above average cities.
I have heard rents for similar apartments (decent area and decent apartments) in the city of Coimbatore (in the south in TN), is around 12k.
I am not sure if the salaries would be lower in such places. Isn't salary tied to cost of living in a more significant manner than what you see around here in Canada? That was my impression, at least.
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Dimple2001
Posts: 5775
Location: God's own country
Posted on: 21-10-10 16:35:20
Location: God's own country
Posted on: 21-10-10 16:35:20
Quote:
Originally posted by dimple2001
All I can say is wow. Thanks for the details. It is eye opening as I don't have a clue what expenses could amount to these days in India. I left India when Rs 3000 - 4000 per month salary (if my memory serves me right) from Bajaj (in Mumbai/Pune area) was absolutely wonderful.
So you can sense my distortion.
Yup. Those were good old days. Living in Bajaj Auto Akrudi hostel and eating their mess food and still sending Rs 2000 / month home to parents every month. Also mixing with IIT'ians who also worked for the same salary as you (though they graduated from IIT).
Well IT had changed everything now.
may be bajaj was paying 8000 per month (non IT) in 2002 . Canada paid $ 7 an hour then. Now it must be paying 50K + (Non IT) and Canada pays $10.25 per hour. See the comparision.
What I found most disturbing is that he spent around RS 40K (1/2 of his salary) on Car EMI and house rent. That can be reduced is he can take a mortgage on his flat (long term job commitment needed) and walk / use auto to office.
1.25 lakhs per month salary in Mumbai is actually a poor man's salary. May be in Chennai, it will be decent as cost of living is low. in OMR road rent are 10K to 15 K a month. You can still drive a bike in Chennai and you still can have a car for pleasure purposes. My dad bought a Tata Indica 2000 model car for 1 lakh and repaired it for about 20K and it is equal to a second hand car being bought in Canada and you need not pay EMI for it.
I once agreed to come to Delhi for 1 lakh / month salary (all incl.) in 2007. Luckily I did not go there as agreed. It seems a pittance these days.
Peace
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I am a Gents and not a Ladies.
Quote:
Originally posted by tamilkuravan
may be bajaj was paying 8000 per month (non IT) in 2002 . Canada paid $ 7 an hour then. Now it must be paying 50K + (Non IT) and Canada pays $10.25 per hour.
Peace
Interesting to see the equations in forthcoming years. 8000/month salary in 2002 and in 2010 it's 50K plus.
Can we expect the same 600% growth then in 2018 it would be 3 lacs per month (36 lacs per year) for NON IITians?
and what would be the cost of living at that time?
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