The Outsider Posted August 11, 2015 Posted August 11, 2015 I had seriously considered moving back for good 2-3 years back and a lot of ICFers had given very useful advise at that time (I had PM'ed them so it's not on the forum). At that time, my salary in India was going to be around XX lakhs, but I decided against it because my office was in South Bombay where the places I liked were renting for Rs. 80,000+ (2 BD, 3 BD was 100,000+). I did not want to commute more than half an hour. In the suburbs, there were really nice places for around 40,000 at that time but the commute was more than an hour. After thinking a lot about it and doing all kinds of cost-benefit analysis, I decided against the move at that time. I did very detailed calculations and my monthly expenditure, while maintaining a similar lifestyle I live in today, came around to Rs. 200,000. A lot of it was lavish like flying to Lucknow every month with my wife and kid to spend 3-4 days with parents etc. I incorporated such things in the calculation because if I don't meet my parents every month while staying in India is there a real difference when I meet them twice a year staying in the US? There are a lot of factors to consider. In the meanwhile, things have evolved and though I don't have any intention of settling in India permanently right now, there is a lucrative 2 year opportunity to go to India that I am considering on a Daalaar salary. I am interested in how people view that kind of a temporary move monetarily. Personally, I haven't been able to find a downside of it except for living in Talirashtra for 2 years, where my penchant for eating beef might land me in jail.
The Outsider Posted August 11, 2015 Posted August 11, 2015 So with 30L package (haha..that's the word I hear all the time in India)' date=' what should be the net in India?? Take-home how we say in India.[/quote'] Indian 'package' includes all kinds of garbage that you have to weed through. Their package includes things like the company contribution to insurance, pension etc. To negotiate properly, ask them for what will your salary be before taxes. They'll make up all kinds of ridiculous numbers - someone I know actually got docked for his office space as being part of the 'package' through a 2k deduction per month!
Desi Cartman Posted August 11, 2015 Posted August 11, 2015 I had seriously considered moving back for good 2-3 years back and a lot of ICFers had given very useful advise at that time (I had PM'ed them so it's not on the forum). At that time, my salary in India was going to be around XX lakhs, but I decided against it because my office was in South Bombay where the places I liked were renting for Rs. 80,000+ (2 BD, 3 BD was 100,000+). I did not want to commute more than half an hour. In the suburbs, there were really nice places for around 40,000 at that time but the commute was more than an hour. After thinking a lot about it and doing all kinds of cost-benefit analysis, I decided against the move at that time. I did very detailed calculations and my monthly expenditure, while maintaining a similar lifestyle I live in today, came around to Rs. 200,000. A lot of it was lavish like flying to Lucknow every month with my wife and kid to spend 3-4 days with parents etc. I incorporated such things in the calculation because if I don't meet my parents every month while staying in India is there a real difference when I meet them twice a year staying in the US? There are a lot of factors to consider. In the meanwhile, things have evolved and though I don't have any intention of settling in India permanently right now, there is a lucrative 2 year opportunity to go to India that I am considering on a Daalaar salary. I am interested in how people view that kind of a temporary move monetarily. Personally, I haven't been able to find a downside of it except for living in Talirashtra for 2 years, where my penchant for eating beef might land me in jail. I have seen quite a few do that and some of them have moved from Google to flipkart and hence are in India now. All these people seem pretty happy about it, some are ok to leave teenagers here and travel frequently so it depends on how old your kids are, the role you have, the money etc.
The Outsider Posted August 11, 2015 Posted August 11, 2015 I have seen quite a few do that and some of them have moved from Google to flipkart and hence are in India now. All these people seem pretty happy about it' date=' some are ok to leave teenagers here and travel frequently so it depends on how old your kids are, the role you have, the money etc.[/quote'] My son is only two and a half, so there is no issue about disruption in education etc., which I feel is grossly overrated anyways because the things that kids capture from a diverse education is much more valuable than making sure they ace their exams. But that can be a topic for another thread. The way I view it is that both mine and my wife's parents are getting old and here is an opportunity in life to shake out of the comfort zone and spend a good two years with them. If not for me, but certainly for my wife and son since my wife has made it clear she has no inclination of working for that time and would like to spend some time off (Gosh! When will guys take time off!). Financially, we will be losing my wife's salary but given the cost of living and the numbers being discussed in this thread we will be pretty well off.
zep1706 Posted August 11, 2015 Posted August 11, 2015 Depends on where you live. In the big cities I would imagine around 1.5 lakh pm.
dial_100 Posted August 11, 2015 Posted August 11, 2015 Indian 'package' includes all kinds of garbage that you have to weed through. Their package includes things like the company contribution to insurance' date=' pension etc. To negotiate properly, ask them for what will your salary be before taxes. They'll make up all kinds of ridiculous numbers - someone I know actually got docked for his office space as being part of the 'package' through a 2k deduction per month![/quote'] So with 2.5L a month, what should be take home? About 1.75? or 1.5? That's ridiculous. 1.5 is not enough to survive if you do not have a place to live.
Desi Cartman Posted August 11, 2015 Posted August 11, 2015 My son is only two and a half, so there is no issue about disruption in education etc., which I feel is grossly overrated anyways because the things that kids capture from a diverse education is much more valuable than making sure they ace their exams. But that can be a topic for another thread. The way I view it is that both mine and my wife's parents are getting old and here is an opportunity in life to shake out of the comfort zone and spend a good two years with them. If not for me, but certainly for my wife and son since my wife has made it clear she has no inclination of working for that time and would like to spend some time off (Gosh! When will guys take time off!). Financially, we will be losing my wife's salary but given the cost of living and the numbers being discussed in this thread we will be pretty well off. I think money wise you'll be fine . People whom I know who moved back temporarily for family or money (yes NRIs do move back for family when needed!) have been mostly happy. Its about setting the right expectations else you are setting yourself for disappointment.
The Outsider Posted August 11, 2015 Posted August 11, 2015 So with 2.5L a month' date=' what should be take home? About 1.75? or 1.5? That's ridiculous. 1.5 is not enough to survive if you do not have a place to live.[/quote'] There isn't a right answer, in my experience. Some companies quote X as part of the package and others don't. There is no standardized template. You just have to negotiate and make them spell it out point by point till you are half dead. It took me 3 months to get clarity and everything in writing from a major MNC operating in India if that helps you in getting a sense of perspective of the amount of red tape involved.
Desi Cartman Posted August 11, 2015 Posted August 11, 2015 There isn't a right answer' date=' in my experience. Some companies quote X as part of the package and others don't. There is no standardized template. You just have to negotiate and make them spell it out point by point till you are half dead.[b'] It took me 3 months to get clarity and everything in writing from a major MNC operating in India if that helps you in getting a sense of perspective of the amount of red tape involved. And thats why there is a high chance that you really wouldnt enjoy your life there.
diga Posted August 12, 2015 Posted August 12, 2015 @Precambrian: Depends on your lifestyle.. For a person relocating to India, I would say a minimum of 1.5 Lakh post tax is required in the metros and can do with less in tier-2 cities.. In the semiconductor space, expats who are on temp assignments are offered accomodation + their dollar income
Vilander Posted August 12, 2015 Posted August 12, 2015 inflation is at 6 pc and intrest is at 8 pc in India on savings. secondly there is no health insurance. service is cheap so you lead a comfortable live once inside home, but outside it infra is poor so its a difficult worklife.
Texan Posted August 12, 2015 Posted August 12, 2015 This is the million dollar question faced by most Indian expats. I have been performing these cost benefit analysis myself too. Good topic OP and I can see some good suggestions here. When you do see these cost analysis though, one has to consider that the NRIs moving back are actually looking for a comfortable lifestyle (including maids/domestic help) for just about every household chores. Plus, you have to consider that even buying decent branded clothes or electronic gadgets in India (similar brands to what you use in US/UK/Western country) is much more expensive than buying them from US. School fees too - most NRIs returning home end up sending their kids to International schools. Their fees can add up to quite a bit. Plus, if you have a kid born in the US who is a US citizen, then there are added NRI fees all through their education. Other hidden costs - in US, you will be mostly covered for all life eventualities with all the numerous insurance policies you would be enrolled in. No such thing in India where insurance policies are cumbersome and not designed to be foolproof protection against all life eventualities. So, you should have a decent buffer for unexpected expenses. Just make sure you factor those in when you decide to move.
Detonator Posted August 12, 2015 Posted August 12, 2015 why ppl always trying for rented houses ? you shld buy a land at least in the outskirts. yeah real estate rates have gone sky high, but one shld try to earn money in multiple ways.
Raghav_12 Posted August 12, 2015 Posted August 12, 2015 I had seriously considered moving back for good 2-3 years back and a lot of ICFers had given very useful advise at that time (I had PM'ed them so it's not on the forum). At that time, my salary in India was going to be around XX lakhs, but I decided against it because my office was in South Bombay where the places I liked were renting for Rs. 80,000+ (2 BD, 3 BD was 100,000+). I did not want to commute more than half an hour. In the suburbs, there were really nice places for around 40,000 at that time but the commute was more than an hour. After thinking a lot about it and doing all kinds of cost-benefit analysis, I decided against the move at that time. I did very detailed calculations and my monthly expenditure, while maintaining a similar lifestyle I live in today, came around to Rs. 200,000. A lot of it was lavish like flying to Lucknow every month with my wife and kid to spend 3-4 days with parents etc. I incorporated such things in the calculation because if I don't meet my parents every month while staying in India is there a real difference when I meet them twice a year staying in the US? There are a lot of factors to consider. In the meanwhile, things have evolved and though I don't have any intention of settling in India permanently right now, there is a lucrative 2 year opportunity to go to India that I am considering on a Daalaar salary. I am interested in how people view that kind of a temporary move monetarily. Personally, I haven't been able to find a downside of it except for living in Talirashtra for 2 years, where my penchant for eating beef might land me in jail. Nothing beats experience of living in Indian on a Dollar/Euro salries. They really life king size. In my organization there are few brits who are in India for 2-3 years. Looking at their lavish lifestyle I commented that for you guys colonial era never seemed to have ended :cantstop:, They live in DLF Golf Course Apartments where apartment rent itself would be around 2.5 lakhs with an armada of domestic help mail, cook, driver etc. Some of them joke that now we are too spoilt to live back in London on usual salaries, Opposite of this experience is living in US/Europe on Indian salaries that many indian IT folks go through. :((
Raghav_12 Posted August 12, 2015 Posted August 12, 2015 A lot of people in this thread talking about having big cars as part of life style that they aspire for or they feel is necessary for them. However I strongly believe having big car is an Indian city is absolutely socially irresponsible behavior. Nowadays whenever i see a person driving a big car like Fortuner or Endeavor or a long sedan, i immediately lose respect for that person. When roads are so clogged that people drive their cars with outside rear view mirrors closed or pulled inside, you should not be driving cars which take space of 3 small cars. Absolutely irresponsible. I was looking at buying car of that segment, SUV or fake SUVs like Duster (if not new one than used one), but I have dropped that idea altogether now. Going to drive small cars only. Sorry for derailment. Maybe I should have created a new thread.
Precambrian Posted August 12, 2015 Author Posted August 12, 2015 A lot of people in this thread talking about having big cars as part of life style that they aspire for or they feel is necessary for them. However I strongly believe having big car is an Indian city is absolutely socially irresponsible behavior. Nowadays whenever i see a person driving a big car like Fortuner or Endeavor or a long sedan, i immediately lose respect for that person. When roads are so clogged that people drive their cars with outside rear view mirrors closed or pulled inside, you should not be driving cars which take space of 3 small cars. Absolutely irresponsible. I was looking at buying car of that segment, SUV or fake SUVs like Duster (if not new one than used one), but I have dropped that idea altogether now. Going to drive small cars only. Sorry for derailment. Maybe I should have created a new thread. Its a very good thought actually. I subscribe to using public transportation in urban areas - like metro/cabs etc. I experimented it personally and have found that average spend on public transport is much less than the EMI on a new car. Not to mention the repairs and the sheer tension of driving around in clogged traffic.
Book_Worm Posted August 12, 2015 Posted August 12, 2015 Its a very good thought actually. I subscribe to using public transportation in urban areas - like metro/cabs etc. I experimented it personally and have found that average spend on public transport is much less than the EMI on a new car. Not to mention the repairs and the sheer tension of driving around in clogged traffic. Same here. we own a car. But hubby uses Bus to work. He feels it is way better. Also I too lose respect when people seem to have cars bigger than the garage.!! we use the car when we travel long distance to villages etc with my inlaws who are very old. If just me , hubby and son we end up taking the bus. Right now my hubby wants to buy bike/scooty cause he thinks for short/med distances especially if he is travelling alone it would be much better.
Detonator Posted August 12, 2015 Posted August 12, 2015 A lot of people in this thread talking about having big cars as part of life style that they aspire for or they feel is necessary for them. However I strongly believe having big car is an Indian city is absolutely socially irresponsible behavior. Nowadays whenever i see a person driving a big car like Fortuner or Endeavor or a long sedan, i immediately lose respect for that person. When roads are so clogged that people drive their cars with outside rear view mirrors closed or pulled inside, you should not be driving cars which take space of 3 small cars. Absolutely irresponsible. I was looking at buying car of that segment, SUV or fake SUVs like Duster (if not new one than used one), but I have dropped that idea altogether now. Going to drive small cars only. Sorry for derailment. Maybe I should have created a new thread. Completely agree and a very good post. The biggest reason for buying a car is not for it's utility but to establish a social status. Motor vehicles has the biggest degradation rate than anything else. The moment you get a new car delivered, it's value will go down by at least 20%.
BeautifulGame Posted August 12, 2015 Posted August 12, 2015 In coimbatore, one can live comfortably with 40k per month. Rent - can get 2BHK at 6k to 9k. Can rent an individual house for 10k. Only land rates are sky high. Car - 10 k per month on avg emi home needs - 5k per month is enough. school fees ranges from 5k to 20k per term for decent to very good schools. some schools are charging upto 3L per year, they aren't meant to be good, it's just that the rich kids will get to interact with only rich kids Even in Chennai the only difference is mainly house rent which is around 15k-20k for decent 2BHK flats .Most other aspects of cost of living are more or less similar to CBE So 50k should be enough to lead comfortable life style
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