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Old 9th May 2013, 23:35   #256
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Default Re: Recession Again ?

An interesting read about the impact of current pay hikes in IT sector: http://ow.ly/kRalo
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Old 10th May 2013, 10:18   #257
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Quote:
Originally Posted by nanduchitnis View Post
I read a lot of criticism of PSU's here. What about Pvt Sector banks like ICICI? They charged me Rs 250/- for a DD of Rs 100/- !!

I have HDFC Life policy. Last 4 years I have paid them Rs 4,00,00/- plus Rs 40,000/- extra when I applied for the Policy. It is not Life Insurance plan, it is Unit linked plan.
The value of my Units after 4 yrs 9 months is Rs 3,65,000/-

Each month they also deduct money to their account.

This IS ROBBERY !!
As for your HDFC Life Policy, I see nothing wrong. Since it is Unit Linked, and there fore dependent on stock market movements, if stocks do well, your units do well else they don't. Did the insurance agent guarantee you any specific result?
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Old 10th May 2013, 15:41   #258
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Quote:
Originally Posted by PatienceWins View Post
An interesting read about the impact of current pay hikes in IT sector: http://ow.ly/kRalo
Crazy article, typical under researched and over hyped Economictimes article. How many IT consultants earn annual package of 25lac and more? If we believe the Economic Times, every IT consultant starts of with a seven figure monthy income, which grows magically by 30% YOY. Who are they kidding god alone knows!!!

Regarding people getting scared of sitting on the bench, it was always that way. Apart from a few lazy and shameless people who liked spending more than 3 quarters of a year on bench, most of the folks feel uncomfortable if they spend more than 2-3 weeks sitting without projects. In companies like Infosys where in your performance linked incentives (PLI) makes between 40-60% of your CTC, remaining on bench ensures that you may recieve minimal PLI if any.

Builders are feeling the heat because they over heated the market by paying crazy prices for land, then charging crazy prices for a small 1-2bhk apartment. How many people can afford spending a crore plus per flat? Now that sales have died down,the builders are left holding the baby. I forsee some builder suicides soon...
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Old 10th May 2013, 16:26   #259
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Quote:
Originally Posted by PatienceWins View Post
An interesting read about the impact of current pay hikes in IT sector: http://ow.ly/kRalo
That article caused me to LOL
I wonder where they get their research from.
Did you know, since the 1950s, the wages as a percentage of profit has been declining sharply.
Average worker pay is still at 1970s levels if you index to inflation.
However, executive pay(CEO etc.,) has gone through the roof. Maybe some real journalist should do an article about that!
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Old 10th May 2013, 16:41   #260
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Default Re: Recession Again ?

I almost lost my lunch when I read about 30 year old tester making 25L.
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Old 10th May 2013, 16:53   #261
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Yep that is the point people from outside have an overinflated view of the IT sector pay scales. Nope things are not that rosy now but they haven't been for a long time in that sense.

That said the younger crowd (IT & non IT) (especially the unmarried lot) does seem to actually in my mind spend a much higher percentage of their salary of objects of desire that would not really be worth anything in 2-4 years.

Again there is the sense of hopelessness today in the initial stages of ones career. Earlier one could take a loan and buy a home either as an investment or to stay in. But with a decent 2 BHK costing 1-2Crs. in most locations in Bom, Bang etc. it is increasingly harder for them to find an avenue to invest. At times many of the newer generation is infact opting for investing in the next tier cities in their native places. The property market / builders have got themselves into a big mess.

The outcome is that we see a lot of spending on objects-of-desire like say the Samung S4, Iphone5 etc. by people who are actually putting more then a months pay on gadgets or buying them on EMI.

Last edited by ACM : 10th May 2013 at 16:54.
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Old 29th August 2013, 14:02   #262
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Originally Posted by lambuhere1 View Post
Source : Rupee decline, wobbly markets and 'lowest' GDP growth highlight inept handling of economy by UPA-II government - The Economic Times


A question to chart followers. Is it a triple top pattern as seen in stockcharts ?
Posting after 1 year.

Source : http://economictimes.indiatimes.com/...w/22115956.cms


Quote:
"We accordingly now target GDP growth of just 3.7 per cent in FY'2014 (previously 5.2 per cent)," it said.

This 3.7 per cent is not only easily the lowest forecast, but would represent the lowest annual growth since 1991-1992, it added
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Old 2nd September 2013, 20:00   #263
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The situation in Bangalore ,where I stay, is a mixed bag. While there certainly are opinions of doom and gloom, there are also free spenders who are still lavish in their spending. I can't help but actually feel SCARED when I see the prevailing property prices, even though the rates have cooled off just a bit recently. While the ET article was rubbish, the IT folks (including me) certainly need to tighten belts a bit to scrape along through the current situation.
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Old 2nd September 2013, 21:34   #264
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Well for people like me who are carrying home loans and other big debts, the situation seems pretty scary.

I am basically in a Catch 22 situation. Whether it would be a good idea to increase my monthly EMI and try reducing my liability as much as possible (thereby risking not having enough savings), or keep prolonging it paying the same EMI and be safe for the time being?

I had taken the home buying plunge in July 2009, so I am just more than 4 years into the loan now.

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Old 2nd September 2013, 22:00   #265
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@Oxy, well if you have 3-5 months expenses worth of funds socked away in an emergency savings account, you can reasonably safely try to put the rest to work in paying off the housing loan.

Even i'm on the edge trying to figure out whether to go for a home loan right now or not, but the ridiculous prices are not making sense to me or my wife at all.

Cheers
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Old 3rd September 2013, 09:14   #266
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We are in classic stagflation. Rajan is a hard core monetarist (much reviled by the US Keynesians), but has also been a chum of PC so let us see. PC seems to have surrendered to SMG.
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Old 19th September 2013, 12:33   #267
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No new government jobs as Finance ministry tries to combat fiscal deficit :

http://newindianexpress.com/nation/N...cle1791368.ece
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Old 19th September 2013, 14:57   #268
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Quote:
I almost lost my lunch when I read about 30 year old tester making 25L.
Well how much realistically a reasonably fast progressing 30 yr olds would make in a decent company?

My nephew is quite keen on joining Merchant Navy but I am asking if him to be associated with some more human profession instead. He is quite bright hence can grow in other professions a well

I had decided to not join the IT bandwagon in 1999-2000 and instead opted to join the life at sea. Looking back and comparing with the life of my friends I don't think it was an eclectic choice.

Moreover the way the so called lads in 30s live lavish, I have reasons to believe that even today the average IT joe is quite well paid. Just
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Old 19th September 2013, 15:23   #269
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I went through the slide show just now and realised that by the standards mentioned in the slide show i am quite underpaid being north of 30 years .

Probably all the examples taken by them refer to senior executives, may be the testing guy was test manager(senior project manager) or head of a testing unit.

While surfing i came across another one titled

"ET Wealth: 10 money secrets financial advisor's & salesmen don't tell",

bhpians will find the observation on slide 10 interesting, you can have a look at the below link.

Heading of the slide no. 10 was - "Extended warranty for car is of no real use"

http://economictimes.indiatimes.com/...w/20010946.cms
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Old 19th September 2013, 15:26   #270
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Heard this about a colleague's friend -

Work experience - 8.4 years.
Expert in - Java (Core Java). - Looks like the guy can teach someone how to drive a car in Java (thatz what i understood).
CTC - 32 lacs. Not sure if it is true.
Qualitfication - B.E (Mechanical)
Age of the person - 29-30

But then if it is true.. .

Last edited by deadguy25 : 19th September 2013 at 15:30. Reason: typo
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