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View Poll Results: Would a regular IT Joe be able to purchase a BMW in his life time ?
Yes 135 53.78%
No 116 46.22%
Voters: 251. You may not vote on this poll

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Old 21st September 2012, 16:05   #286
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Default Re: Can a regular IT Joe ever buy a BMW?

Quote:
Originally Posted by akshay4587 View Post
I find it really strange,what has family back ground got to do with the appraisal if your performance in organization is good.
Its like declaring a student as fail,just becuase he turned up for exam in a BMW 5 Series.Its a free country,whether i drive a bajaj chetak or a Verna or a BMW should not hamper,what is going on in the organization.
Things are not so smooth,as it seems to be . If I flash a BMW or BUSA , they (Managers ,leads or people above you) think , if he can afford BMW or BUSA and as well as pay for petrol ,why does he need a hike or increment /promotion . .
Its more of being jealous .

Last edited by black12rr : 21st September 2012 at 16:08.
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Old 21st September 2012, 16:11   #287
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Default Re: Can a regular IT Joe ever buy a BMW?

Well, so many Joes can't afford so many things! Why muse about I.T.Joes particularly? What is the point? And why stop with BMW? Why not a Ferrari?
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Old 21st September 2012, 17:49   #288
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Default Re: Can a regular IT Joe ever buy a BMW?

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Originally Posted by akshay4587 View Post
I find it really strange,what has family back ground got to do with the appraisal if your performance in organization is good.
I agree with you completely. However, I have seen this happen and even worse. I have seen one of my colleagues decide appraisal ratings and promotions for his team based on matters such as the employment status & salary of the employee's spouse, their vehicles, the number of flats they own/ rent out (rental income), the phones they use, etc. This guy was soon promoted for his 'control' over his team.

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Originally Posted by Gansan View Post
Well, so many Joes can't afford so many things! Why muse about I.T.Joes particularly? What is the point? And why stop with BMW? Why not a Ferrari?
perhaps because there is at least a chance for a BMW?
I dont get why its restricted to IT Joe, is it because non IT guys are called something else?
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Old 21st September 2012, 18:22   #289
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Default Re: Can a regular IT Joe ever buy a BMW?

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Originally Posted by black12rr View Post
Things are not so smooth,as it seems to be . If I flash a BMW or BUSA , they (Managers ,leads or people above you) think , if he can afford BMW or BUSA and as well as pay for petrol ,why does he need a hike or increment /promotion . .
Its more of being jealous .
Quote:
Originally Posted by selfdrive View Post
I agree with you completely. However, I have seen this happen and even worse. I have seen one of my colleagues decide appraisal ratings and promotions for his team based on matters such as the employment status & salary of the employee's spouse, their vehicles, the number of flats they own/ rent out (rental income), the phones they use, etc. This guy was soon promoted for his 'control' over his team.
Wow,never thought of this,this theory,actually supports the appraisal i got this year,Now that time has come up for next cycle,its time,to park CL5 Chrome and Linea in garage,and start commuting by Tata Nano.
On a serious note,this is unethical,anyways we can get back to the BMW.
Being a Average IT joe,BMW yes,may be the time i reach 50.

Last edited by akshay4587 : 21st September 2012 at 18:46.
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Old 21st September 2012, 18:34   #290
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Default Re: Can a regular IT Joe ever buy a BMW?

Great to see 53.78% vote yes, gives me a lot of hope. I will be starting my IT career shortly and also have the dream of owning a BMW lets see if in 10 years 1 series comes to our land and the vitamin M is sorted. How valid is my hope?
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Old 21st September 2012, 18:55   #291
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Default Re: Can a regular IT Joe ever buy a BMW?

Quote:
Originally Posted by akshay4587 View Post
I find it really strange,what has family back ground got to do with the appraisal if your performance in organization is good.
Its like declaring a student as fail,just becuase he turned up for exam in a BMW 5 Series.Its a free country,whether i drive a bajaj chetak or a Verna or a BMW should not hamper,what is going on in the organization.
You have to understand that you are dealing with people here - not a perfect black box system. People have egos - some of them have a very fragile one!
When you park your bimmer next to your manager's City - people will take notice and the rumor mills start churning full speed.
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Old 21st September 2012, 23:48   #292
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Default Re: Can a regular IT Joe ever buy a BMW?

Quote:
Are you in IT ? Given the thread-topic, it would help to know. Ofcourse not that there is any doubt in the fact that it is very much possible for an IT guy to buy a BMW
Yup, very much an IT guy..
A B. tech followed by a PGDM though, so got a decent headstart by getting into a BA role to start with.. 8+ years now
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Old 22nd September 2012, 09:39   #293
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Default Re: Can a regular IT Joe ever buy a BMW?

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Originally Posted by selfdrive View Post
I dont get why its restricted to IT Joe, is it because non IT guys are called something else?
The non IT guys are called G I Joes, and we drive JEEPS.
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Old 22nd September 2012, 10:06   #294
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Default Re: Can a regular IT Joe ever buy a BMW?

I Believe that this thread has been started when IT Industry was considered as the Benchmark for the Salary standards which is not true anymore. Time to change the Thread title as 'Can a Ordinary professional even buy a BMW?'.

Coming to the topic under discussion, Well I'm an IT guy and I'll not opt to own a BMW unless otherwise I get an Annual compensation package of at least 80% of the price of a Bimmer (Lets say X1 as it the entry level Bimmer). But then, at such a CTC, I cannot be termed as a regular IT Joe

Considering the current job volatility of the Industry, I even doubt whether the Regular IT Joe will buy a car.
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Old 22nd September 2012, 20:57   #295
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Default Re: Can a regular IT Joe ever buy a BMW?

Have you guys seen the recent ads from BMW and Audi ? 4.8lakhs d/p and 37000 EMI for the X1 diesel and 5lakhs d/p and 50000 EMI for the A4. Frankly if I dint have family commitments I would have taken the plunge.
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Old 22nd September 2012, 23:26   #296
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Quote:
Originally Posted by narayan
Have you guys seen the recent ads from BMW and Audi ? 4.8lakhs d/p and 37000 EMI for the X1 diesel and 5lakhs d/p and 50000 EMI for the A4. Frankly if I dint have family commitments I would have taken the plunge.
Saheb,
What if one loses job after few years in to the EMI scheme ?
EMI roughly comes to 47-50k per month.
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Old 22nd September 2012, 23:34   #297
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Default Re: Can a regular IT Joe ever buy a BMW?

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Originally Posted by kablu View Post
Considering the current job volatility of the Industry, I even doubt whether the Regular IT Joe will buy a car.
True.

I spent almost 35% of my salary on the house (That too rent and not EMI, mind it), almost another 35% on the car (EMI for a Punto 90 - that too after paying half the amount upfront). Sometimes i do wonder how I am managing the situation- I do wonder if i shouldnt have bought the car, but there is no going back now.

Oh ya, and I am an IT joe with 4 years work experience. Salary has grown to double the amount of what I got for my first month in office. Thats it. Is it really worth all the extra hours and strain and headaches- may be not.

Last edited by CrAzY dRiVeR : 22nd September 2012 at 23:35.
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Old 23rd September 2012, 05:50   #298
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Default Re: Can a regular IT Joe ever buy a BMW?

I am currently visiting my parent company in USA. Today our part-time network consultant/specialist came to meet, he used to work fulltime for us couple years back.

I was taken aback when I saw his ride. Agreed it is no BMW, but a C250 with AMG sport package is not at all bad for a 29 year old & single network engineer.

Can a regular IT Joe ever buy a BMW?-p9228651.jpg
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Old 23rd September 2012, 08:04   #299
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Default Re: Can a regular IT Joe ever buy a BMW?

Quote:
Originally Posted by narayan View Post
Have you guys seen the recent ads from BMW and Audi ? 4.8lakhs d/p and 37000 EMI for the X1 diesel and 5lakhs d/p and 50000 EMI for the A4. Frankly if I dint have family commitments I would have taken the plunge.
Quote:
Originally Posted by F150 View Post
Saheb,
What if one loses job after few years in to the EMI scheme ?
EMI roughly comes to 47-50k per month.
If I were to buy from this segment of cars, I would prefer making a slightly higher downpayment and reducing the loan burden. Perhaps something like a 16-17L downpayment and 9-10L loan, purely to keep interest rate burden at bay.

I would tend to agree with F150 here, 50k is a bit of overkill for a regular IT Joe. However, if it is a regular excel sheet Joe (Manager grade - no offense meant ), where salary is around 2L per month, you should have built enough corpus in the savings account in these many years, to absorb the impact of a job loss and sustain for at least 6 months without salary.

My thumb of rule (applies to any IT Joe), is to have at least 6 months worth of take-home salary stashed in some savings account somewhere. In the unfortunate event of a job cut, you then have 6 months of peace of mind as far as EMIs and monthly expenses go. 6 months will also be enough to find alternate jobs before your built-up backup funds get depleted. Once again, after the new job starts, replenish the backup funds and then embark on new adventures (read as car EMIs) if any.

Quote:
Originally Posted by Samurai View Post
I am currently visiting my parent company in USA. Today our part-time network consultant/specialist came to meet, he used to work fulltime for us couple years back.

I was taken aback when I saw his ride. Agreed it is no BMW, but a C250 with AMG sport package is not at all bad for a 29 year old & single network engineer.
Isn't this again due to the disparity in car prices, and purchasing power between USA and here?
Some of my petrolhead friends are starting to work there after completing their MS (most of us are aged around 25-26), and I keep myself up to date with their antics. A C class /3 series retails at around 35k$ in the US of A, and most IT Joes there get around $6-7k of takehome pay. Taking out monthly expenses, if he saves for a year diligently, he can buy a C250 AMG with full cash. Here in India, for a regular IT joe getting 40-50k monthly pay, the C250 costs upwards of 6 times annual pay, expenses not included.

P.S - one of my friends owns a Yamaha R1, which is around 11k$ for a new bike. IT Joes there can buy it with 2 months of salary. IT Joes here can't buy the same superbike (CBU) even if they save for 2 years without spending on anything else.

Last edited by KarthikK : 23rd September 2012 at 08:17.
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Old 23rd September 2012, 08:45   #300
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Default Re: Can a regular IT Joe ever buy a BMW?

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Originally Posted by KarthikK View Post
My thumb of rule
Hmm...hey, should it not be the other way round?
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