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Old 15th February 2017, 08:34   #1066
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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I wish there was an international cost of living calculator.
Try https://www.numbeo.com/

I think its fairly accurate.
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Old 15th February 2017, 23:02   #1067
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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The good part is that inflation is very low. When I came to the US some 20 years back starting income of sw engineers was very close to the number you have. So it only gets better as your income increases year on year.
Did not understand this part. Do you mean salaries of SW engineers have remained stagnant for 20 years? How is that a good thing?
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Old 15th February 2017, 23:42   #1068
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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Did not understand this part. Do you mean salaries of SW engineers have remained stagnant for 20 years? How is that a good thing?
Starting salary being the same is a good thing. A new small car would have cost $12k in 1998 and it can still be had for around $13k. It means there has been very little inflation. Based on the performance of the engineer his salary would certainly increase, thereby being able to afford a bigger, better car.

It is hard to grasp this, as I made Rs7000 as a Software Engineer (Fresh Grad ECE) working for an MNC in Bengaluru in 1995. Today we hire fresh grads in Bengaluru for Rs10L to 15L. But I had a lot of money left in my pocket while I made just Rs7k. I don't know what is better. I am not an economist, but in the context of the thread, I meant to say that life gets better as your salary increases, as the stuff that you need will probably continue costing the same.
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Old 15th February 2017, 23:50   #1069
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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Starting salary being the same is a good thing. A new small car would have cost $12k in 1998 and it can still be had for around $13k. It means there has been very little inflation. Based on the performance of the engineer his salary would certainly increase, thereby being able to afford a bigger, better car.
This is of course, a by product of the slow down of the US economy where, along with prices, wages have also stagnated. Based on performance, salaries would increase anywhere in the world. However, I would not call stagnant salaries at a particular level a good thing. It is just the function of an economy which does not grow any longer.

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It is hard to grasp this, as I made Rs7000 as a Software Engineer (Fresh Grad ECE) working for an MNC in Bengaluru in 1995. Today we hire fresh grads in Bengaluru for Rs10L to 15L. But I had a lot of money left in my pocket while I made just Rs7k. I don't know what is better. I am not an economist, but in the context of the thread, I meant to say that life gets better as your salary increases, as the stuff that you need will probably continue costing the same.
This part is of course a reflection of the Indian economy which has grown at a decent rate, especially in the last decade. Prices of goods and services have increased and so have wages to keep pace - albeit much more in the IT sector than many others. Regarding your last sentence, prices of almost every conceivable commodity in India has also gone up. I think an employee receiving average - read barely double digit increases - will find it difficult to pay for the same level of lifestyle in successive years.
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Old 16th February 2017, 00:01   #1070
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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This is of course, a by product of the slow down of the US economy where, along with prices, wages have also stagnated. Based on performance, salaries would increase anywhere in the world. However, I would not call stagnant salaries at a particular level a good thing. It is just the function of an economy which does not grow any longer.
Sure, I have very little understanding of macro economics to make further points. I probably see neutral/stagnant things as being good - as a perpetual optimist.

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Old 16th February 2017, 01:40   #1071
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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This number does not make sense though. 401K max per year for people under 49 is $18k.
Thanks a ton for your inputs. I am meeting with my HR representative to seek further clarity.
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Old 25th May 2017, 22:15   #1072
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Default Re: Emigrating to a Foreign Land! Worth it?

Not exactly on topic but related: with the aim of emigrating to Canada or Australia a cousin, who is now 37 years old, plans to pursue PhD from Faculty of Management Studies, Delhi University. Is it a good idea? Will it help in achieving his goal? Currently he is working as a Bank PO. If he pursues this PhD he will have to leave his job. He is married and has one son. His wife also works. So immediate family upkeep is not a problem.
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Old 25th May 2017, 23:18   #1073
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Default Re: Emigrating to a Foreign Land! Worth it?

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Not exactly on topic but related: with the aim of emigrating to Canada or Australia a cousin, who is now 37 years old, plans to pursue PhD from Faculty of Management Studies, Delhi University. Is it a good idea? Will it help in achieving his goal? Currently he is working as a Bank PO. If he pursues this PhD he will have to leave his job. He is married and has one son. His wife also works. So immediate family upkeep is not a problem.
But what exactly does he want to do after the PhD?

Has he thought of any areas of jobs in the said countries that might suit his skill and education?

I think the best way is to get the MBA or PhD from that country itself if possible.
That'll require a good GMAT score and profile.

One other way to look at it is to look at the requirements that the companies ask for various job postings.
For example they might want certain additional skills.

After he has thought of what kind of work he wants to do, then only he can decide on the kind of education to get.
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Old 26th May 2017, 06:39   #1074
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Originally Posted by prasadee View Post
Starting salary - It is hard to grasp this, as I made Rs7000 as a Software Engineer (Fresh Grad ECE) working for an MNC in Bengaluru in 1995. Today we hire fresh grads in Bengaluru for Rs10L to 15L. But I had a lot of money left in my pocket while I made just Rs7k. I don't know what is better. I am not an economist, but in the context of the thread, I meant to say that life gets better as your salary increases, as the stuff that you need will probably continue costing the same.


Ha!
I started my first job at 5000/- p.m. In 1993.
I ll never ever forget those heady days.
We were happiest at that time.
A motorbike.
Three or four college friends sharing a small flat.
Enough money to live reasonably well and things were not expensive.
A car of course remained a distant dream - I only managed a 14 year old second hand M 800 Dx (old shape) with some difficulty, three years into working life.
I think the 2000's changed everything in India.
Today India is the place to be, we are where the action is, commercially at least.
And as a First Class Citizen youre probably better off here in 2017, despite the corruption and chaos.
As long as one gets to travel and experience the world now and then, there is really no place like home!
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Old 26th May 2017, 12:54   #1075
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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It is hard to grasp this, as I made Rs7000 as a Software Engineer (Fresh Grad ECE) working for an MNC in Bengaluru in 1995. Today we hire fresh grads in Bengaluru for Rs10L to 15L.
I think you are not making an exact comparison. A fresh ECE grad getting 10-15L/annum in 2017 is not the same job/same company you did when you were paid 7000/month, is it? There were some high paying entry level jobs even in the 90s (nearly 10L per annum) but they were few and far inbetween. Ofcourse these jobs come with extra baggage!

Salary difference on niche skills, varation in salary by city (as in US) do exist in India. Not to forget, there is a variation in take home for the same cost to company depending on the benifits! (this is not considering variable pay).

While the inflation factor is there in India (much more than US), a job paying low-mid 4L/annum 10 years back pays like mid-high 5L per annum now.
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Old 27th May 2017, 03:31   #1076
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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I think you are not making an exact comparison. A fresh ECE grad getting 10-15L/annum in 2017 is not the same job/same company you did when you were paid 7000/month, is it? There were some high paying entry level jobs even in the 90s (nearly 10L per annum) but they were few and far in between.
I thought I was making a fair comparison of fresh grad software engineers. My data points are 20+ years apart. I was talking about Bengaluru and starting salaries for Fresh grad Software Engineers in MNCs like Texas Instruments. They were one of the top employers in Bengaluru in the early 90s. Salaries were no secret, and as far as I know nobody paid 10L per annum in mid 90s. If you think, or know of people who got that kind of money in 90s, you know better.
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Old 27th May 2017, 08:45   #1077
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Default Re: Is $3800 sufficient to lead a life in NJ for a family of 4 (husband, wife, and 2 young kids)?

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I was talking about Bengaluru and starting salaries for Fresh grad Software Engineers in MNCs like Texas Instruments. They were one of the top employers in Bengaluru in the early 90s. Salaries were no secret, and as far as I know nobody paid 10L per annum in mid 90s. If you think, or know of people who got that kind of money in 90s, you know better.
TI used to pay 6000 p.m. in mid 90s. My friend in college who did MTech got placed in TI then. Others used to pay 3000 to 5000 p.m.
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Old 28th May 2017, 06:21   #1078
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Default Emigrating to a Foreign Land! Worth it?

At least by securing that 'phoren stint' us average fellas can come back here later, slightly more well set from a financial perspective on account of the conversion rate and the hard 'skimping' while abroad, to put those doubloons away!
One more thing. The opportunity to have a child while abroad, thereby in some sense securing his/ her future or hedging ones bets on the long term options.

These are also very powerful motivators for a regular person, over and above the coveted 'phoren experience' and 'better career prospects' and so on...

The sheer competition here in India and the way the dice are apparently so heavily loaded against one, causes one to literally wilt at the starting line itself!

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Old 29th May 2017, 10:30   #1079
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Default Re: Emigrating to a Foreign Land! Worth it?

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Browsing through this thread from a rich European nation. I usually come here 4-5 times every year due to work commitments. These are all short trips, usually ranging from a week to three max. Every single time, I end up missing my home town and my country a lot. Love India, live India! Now raring to board that plane tomorrow morning!
I do miss my hometown a lot. Been in the UK a while now and more or less settled. However when I think of the better opportunities here and also the better quality of life, I don't regret my decision to migrate. Work is hard, weather is bad, you don't get much time to relax but I'm getting used to it. The benefits outweigh the problems.

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Writing this post from the U.K.

Been here less than a week, and I already adore this place! People are so nice, facilities are marvelous, and every thing is absolutely amazing. I so want to immigrate to the UK but sadly my VISA is valid just for 3 years :(

Correct me if I'm wrong guys, but I need to stay here for a minimum of 5 years to be eligible to apply for the PR, yes? I'd give anything to settle down here for life. Nothing could be more perfect.
This is the way I felt when I landed here too. I'm glad I took the decision to Emigrate. I'm sorry I can't comment on your queries on PR. For me it was a much simpler process to move here.
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Old 30th May 2017, 19:05   #1080
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Default Re: Emigrating to a Foreign Land! Worth it?

I am planning on trying my luck in Germany through the job seeker visa. I am not averse to learning a new language for that purpose. On further research, i observed that the basic eligibility to apply for the visa is a minimum of 3-4 years work experience in field(s) related to UG. Now, the work experience that i posses (IT) isnt related to what i studied in my undergraduate degree. I inquired with immigration consultants and they advised that the visa needs relevant work experience. I would like to know whether this rule is followed to the letter or whether an engineering degree, in any field, will suffice. Any inputs will be greatly appreciated.
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