[BlackPearl]

Originally Posted by hydrashok

My feelings exactly. I've learnt quite early that money comes and goes. But we keep getting older each day. Time lost won't come back. Its how well we enjoy each day that counts. If we're spending money on what we like/enjoy, that money is well spent, regardless of what we spend it on.

I'm a total skin-flint miser on some things that people may spend a lot of money on. But when it comes to spending money on what I like (esp. it's something that I will enjoy the benefits of, for a while), I go all the way and break my bank balance if needed. I've never regretted doing that. And when money is tight, I go on enjoying the stuff I bought when money was available.

I'm not an IT guy and I really don't earn that much. But I'm not hitched yet, and so that helps

very well said @hydrashok. exactly same feelings and that is why I never regret buying a car almost beyond my capacity. At the end of each month I have barely 300-500 bucks left in my account but everytime I see my beauty I forget everything

[sameer551]

Mod Note : Please do not use more than two smilies per post. Thanks

Originally Posted by sbasak

Exactly! When I was a kid, I used to think that when I'd earn myself, I'd eat 10 chocolates every day And now I never did so in reality!

Happiness is getting what you want AND when you want it.

Even if you (not directed towards any individual) can buy a Merc or BMW today, you'll feel the lust for Lambo or Aston Martin. That's the human psychology (won't say it is always bad though).

Driving pleasure doesn't require a flashy or powerful car. It is purely emotional. One can be more happy with an M800 than one with a Porsche.

That's my personal philosophy though

I agree with you. I'm very much happy with my M800 so far!!! Atleast it can get parked in all places without any headaches and add to that good mileage and zero maintenance cost. I'm loving it!! By the way i'm also an IT freak

[1100D]

Where is the cash to flaunt the flash?

[GTO]

Originally Posted by diabloo

So a guy who earns 6L must spend 60K. For 60K, you will get a 150CC bike.

Originally Posted by tsk1979

I think you misunderstood. What GTO means is that he would not have car EMI be more than 10% of his monthly salary.
My point was that if a person gets 10L/year CTC, most probably he/she will have a car which costs 6-7L on road.

@ Diabloo : I presume you are talking about 6L after tax or gross? TSK got what I meant. If I am making 6L a year, I'd wouldnt spend more than 60K a year on car EMIs. Again, a car is a cost. Its an asset that ONLY depreciates. And entails more expenses with time. The 10% equation can vary as you get older, or if you are self-employed / an entrepreneur (keeping in mind the additional tax benefits) but if I am in my 20's or early 30's, my real focus would be to maximise savings and investment.

Have a look at the the article on ownership costs (ARTICLE: The real cost of car ownership). Even if you spend only 10% of your income on EMIs, the fuel and maintainence alone will push the "net annual automotive expenditure" up to 20 - 25% of your income easily. And thats not even counting the depreciation cost, down payment, any unforeseen accidents, part-replacements, accessories etc.

[w 12]

Originally Posted by sriramv.iyer

I love software as much as I love driving, and I am confused as to why I get paid so much for what I do. I'll write software for free

Dont worry. If you are really serious, I will PM you my account Number, you can transfer your Salary to me once it is credited, and you can continue to enjoy writing software for free.

I personally find this particular statement of yours, very pretentious. Absolutely No offence meant but I really find this funny. I hope your HR team is made aware of the same , before your next annual review.

[sriramv.iyer]

Originally Posted by w 12

I personally find this particular statement of yours, very pretentious. Absolutely No offence meant but I really find this funny.

Not offended! But the word 'pretentious' has a extremely negative connotation AFAIK - Though I cannot control what made you think so!

Regarding transfer of salary, may be I should transfer my home loan to you too

I still believe, most software guys get more than what they deserve, especially because of demand being higher - I have seen some brilliant math, economics, accounting grads doing non IT work, and shining in them, and still getting paid about 20% of a software guy. I was basically reflecting on that. Btw, I do write and give away software for free.

I really don't want to digress further away from the topic...

Regards
Sriram

[w 12]

Originally Posted by sriramv.iyer

1. Though I cannot control what made you think so!


2. I still believe, most software guys get more than what they deserve, ..

Regards
Sriram

1. Your statement that you do not know why you are paid a very high salary , when you are ready to do the same work for free is the reason.

2. Market Dynamics and theory of demand and Supply. That does not mean any software guy or any one else is saying their salaries are big enough and he gets more than what he deserves.

Pretentious - has plenty of connotattions.

Not sure which negative one you are referring to.

pretentious - Synonyms from Thesaurus.com

what I had in my mind was some usages like Flamboyant, Rhetorical or showy. ( ref. same page )

[diabloo]

I am interested to know how, you calculate what you and other people deserve.

Originally Posted by sriramv.iyer

I still believe, most software guys get more than what they deserve, especially because of demand being higher

Originally Posted by sriramv.iyer

I happen to be an IT guy, which is a misnomer. It is like telling I do manufacturing. (what?) - I love software as much as I love driving, and I am confused as to why I get paid so much for what I do.

[sriramv.iyer]

Diabloo and w_12, as I said in my last post, " I really don't want to digress further away from the topic..." - We should really have a chat offline (wrt this thread) - (now on)

Cant help saying a few more words:
@w_12: Honestly, I checked if I could come to the same conclusion as yours, by correlating the two pieces of information you had mentioned, but I couldn't. [However, I cannot qualify a thought process that connects them such as incorrect. But, I'll sure remember such a path exists before before I make those statements to someone else. ]

@diabloo: Some of my statements are from my gut (may be no data to support the claims) - I feel a software guy should be paid the same as a equally performing guy in a non-IT domain (say an exceptionally good police officer, government auditor etc.) (now someone can ask, how to compare performances in different domains)

I realize that I am not adding value to the thread under discussion, and I still feel I need to reply. :-(

[Technocrat]

@GTO: Though your point is valid I am afraid this is not the way how most of the Automobile enthusiasts IT people buy their vehicles. Because if this was the case most of us would still be driving nothing big than a M800 & Alto(My current Ride ) Because no matter whats the CTC most of the times there is quite a difference between Gross & net take home.

Btw you have made me realise that I am really underpaid as I am spending more than 10% or my monthly take home in my Car EMI & that too for a car like Alto :(

[ram_hyundai]

personally i have never thought on the subject so hard.i am always happy with what i got and i am also happy with what my friends got .hehe.thats why he is my friend.thinking in that fasion i am also a part of all mercs bmws lambos etc in our team.so dont be worried as long as your tied up with t-bhp.

cheers ram

[ownerofazkaban]

I have read on US sites too, for a depreciating asset like car (it's not an asset if attached to bank) the suggested max price of car is 50% of your annual income when buying out of loan. i.e, Auggested price for a car for 10L annual income is 5L on loan, this is only to maintain financial health w.r.t liabilities. It's totally not applicable if you are funding it yourself. or if extra funding is available.

[diabloo]

This is the article that started the discussion & people are

Originally Posted by Samurai

I saw this news item on rediff

Some points from the article

1. This article is about, "Top-level people working in IT companies in India draw salaries that are at par with their global counterparts" and not about entry-level, middle level people.
2. Flashy cars mean "Mercedes, Beemers or Audis"
3. Non-flashy cars are, "Corollas, Ambassador, Suzuki Swift, Ford Fiesta"
4. Reason 1 from Infosys, 'It is not that these executives cannot afford luxury saloons, but they feel it is not right to travel in these cars, especially when their bosses use simple cars.'
5. Reason 2 from Infosys, "Indians generally tend to drive compact midsize cars due to poor infrastructure conditions in the country. Moreover, higher degree of taxes on foreign vehicles in India and stratospheric maintenance costs are deterrents"
6. Reason 3 from Infosys, "A high-end car is an easily noticeable symbol of wealth and Indians generally don't like to flaunt. They might be buying less noticeable things like expensive villas or real estate in many locales, they might be connoisseurs of other expensive items like art or they might be taking trips abroad... At the end of the day it his personal choice."

[Jeep]

I drive a M800 in Bangalore though I think I can afford a C seg car. Reasons for the same:

1. Heavy depreciation costs associated with C seg cars. (I would like to save one and buy an apartment first).
2. I don't have to be overly bothered about the scratches that it may get while driving on Bangalore's roads
3. Can easily park it anywhere and also leave without being worried about someone breaking in (have comprehensive insurance though)
4. Low running and maintenance costs (not really, it is 11 years old and these days I spend around 15K to 20K every year on repairs/maintenance)
5. Occasionally I go abroad. When I do so, I don't need to be worried about the unused, depreciating car back home, since the depreciation is less on this old M800

Have Esteem and Accent back home in Kerala, so derive the pleasure of driving those there. However, as someone mentioned, one can enjoy driving a M800 as good as driving any other car. It's more or less how you 'feel'. Frankly, I am not yet fed up of driving the M800. Have spruced it up with upsized tyres, remote locking, Pioneer MP3 player, good seat covers, air conditining,blah blah... I enjoy everything in it

[CrAzY dRiVeR]

Originally Posted by Jeep

However, as someone mentioned, one can enjoy driving a M800 as good as driving any other car. It's more or less how you 'feel'. Frankly, I am not yet fed up of driving the M800. Have spruced it up with upsized tyres, remote locking, Pioneer MP3 player, good seat covers, air conditining,blah blah... I enjoy everything in it

Taking my old 800 to 100+ speeds was so much fun! It really made you feel like the king of the world. While some of the bigger cars i have driven dont even let you know you have exceeded 100+ speeds.

BUT, braking from 100-0 (m800) was a different story altogether.