The ruppee value as per my calculation for that figure is 13 .6 Lakh.

3000 $ = Rs 30000 (AS per purchasing power parity) makes it 3.6 Lakh

Saving 10 lakh.

We should keep one point in mind that individuals on these forum are from the elite class in India and not a general representation of indian population.

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Sucess is not an accident it is a result of hardwork with intelligence.

Quote:

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Orginally posted by nishitno1
We should keep one point in mind that individuals on these forum are from the elite class in India and not a general representation of indian population.

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if we go by the polls in the forum 76.2 % people came here for better prospect .For better living standards ;For children's future ;For better job opprotunities ;For making more money are all synonyms of earning more and all are very much co-related .so the sole purpose of the migration is defeated if one is not able to acieve what one came here for and then staying on is not a choice but a self- enthrusted decision for which we are helpless to follow as we dont have any other choice whatever the reasons may be .One should understand that it is equally difficult ( not on visa front off course ) to go back to India as it is coming here.

The dissatisfaction of people coming here is quiet evident from another poll where 68.2 % people said that if given a choice they may or definately move to US.

Poll: Why you came to Canada?
For better living standards
28.0%
For children's future
19.8%
For better job opprotunities
16.8%
For making more money
11.6%
Don't know yet
10.8%
To enter in United States
10.0%
My relatives are in North America
3.0%

Poll: If given a chance would you prefer to settle in USA?
Of course!
47.4%
Not at all
31.9%
May be
20.8%
Total votes: 568
You have already voted!

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Sucess is not an accident it is a result of hardwork with intelligence.

now coming to a conclusion that one needs to get $ 24 an hour working 40 hrs a week to save 10 lakhs ; i would be intrested to know at what level of incomes can these figures be achieved in Dubai and USA.I have my Purchasing power parity data but that cannot be replaced bu real life experience so what i need is in USA and dubai how much per hour or month we need to earn so as to save a rupee equivalent of Rs 10 Lakh and maintain a decent living.

we came to a common conclusion that at around $3000 in canada and Rs 30000 in India now what we need is these figures for Dubai and USA.

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Sucess is not an accident it is a result of hardwork with intelligence.

I have lived in the US for well over 9 years. Only good things come to mind about US when I compare to Canada, no offense to anyone.

10 lakhs = 22000 USD

That means a savings of 1833 every month.

For a city with populaton < 500,000, you can get a good 2 bed apt for 900 incl. utilities.

For food and groc, entertainment add 600/month.

2 Car payment and ins , add 800/month.

So, total exp/month = 2300

So, take home/month = 4133

Assume you are in a 30% tax bracket.

So, total gross salary/year = 70851

Reqd. wage/hr = 17.03

Mind you this calc does not include contributions to a 401k and assumes health insurance is paid by your employers. And the numbers need to be inflated for big cities. And not to mention the intangible benefits of a smaller city.

so i would like the people from USA to throw some more light on it and would like to know the fifures for big cities like New York and some input from people from Dubai.

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Sucess is not an accident it is a result of hardwork with intelligence.

Thanks all for your input.


Now i would like the people from USA to throw some more light on it and would like to know the figures for big cities like New York and some input from people from Dubai.


As per my Purchasing power parity figures and exchange rates figures.

If you are spending $ 3000 per month then the same figures can be achieved in the following countries at follwing figures of local currency.

UAE = 9178.51 UAE Dirham 110142
RS10 Lakh in local currency is UAE Dirham 81265

so if u r earning UAE Dirham 191 407 we can acieve that figure as per my data ; but i need real life figures to justify it.

USA = 2479.34 USD $ 29752
USD 22126.34

if u r earning USD $ 51878 before tax to achieve that figures.



1 Utd. Arab Emir. Dirham = 12.30533 Indian Rupee
1 US Dollar = 45.19500 Indian Rupee

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Sucess is not an accident it is a result of hardwork with intelligence.