Its a win win situation . Chances are , he might get a plum job here with in 1st 6 months as he is already very well experienced in IT.. If he does not he can always return back to India . I don't think this person has much to loose but only stands to gain , evolving himself and his family .
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Fido.
Just one Q though ... A million dollars equals Rs 450 lacs . He earns 12 lacs per year ... Assuming he pays taxes and saves 8 lacs and assuming he s been doing that for last 10 years , he should have a saving of 80 lacs or max 100 lacs ... Just wondering where the balance has come from ..
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Fido.
Quote:
Originally posted by Fido
Just one Q though ... A million dollars equals Rs 450 lacs . He earns 12 lacs per year ... Assuming he pays taxes and saves 8 lacs and assuming he s been doing that for last 10 years , he should have a saving of 80 lacs or max 100 lacs ... Just wondering where the balance has come from ..
Good question.Some of the possibilities: Dowry, Corruption, hidden wealth, genius and lucky with investment in stock market, received property from ancestors, lottery or simply found a bag full of money on the street...man it is too dangerous to reveal someone's financial info..
Well, most perhaps being million dollar worth is a big deal for us here in North America but in a country like India where corruption is currently quite prevalent (No offence) and money doesn't have any value, a million dollar can't go far (that is his very point). Even a ward councilor deals with multi-crore deals only. Its a looming disaster there.
State Ministers and their relatives amass wealth to the extent they hardly leave any major property in their district.
People invested in real estate in early to mid 90s in Indian cities through their income from Middle East have witnessed good appreciation values.
I don't want to sound pessimistic, every year I visit India, even the remote thought of retiring in India gets slim due to the affordability subject. Down the lane in 10 years, I even suspect whether the (once in 2/2.5 years) trip would be affordable considering the skyrocketing cost of living. It isn't my interest to turn this into India Vs Canada topic.
Quote:
Originally posted by bhootnath
Some of the possibilities: Dowry, Corruption, hidden wealth, genius and lucky with investment in stock market, received property from ancestors, lottery or simply found a bag full of money on the street...man it is too dangerous to reveal someone's financial info..
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Location: Western Hemisphere
Posted on: 24-05-11 10:19:52
Quote:
Originally posted by JRF
It isn't my interest to turn this into India Vs Canada topic.
Why not? We haven't had one lately since the focus seems to have deteriorated in stereotyping and bashing other religions
Anyway, since he has a PR, he can always try out...maybe set aside some cash as a sacrificial pile while trying out. Some of the factors he may have to consider is the assimilation, adaptability, nuances of life here, "way of living", etc that might end up being a bigger barrier than just a job and money.
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Dimple2001
Quote:
Originally posted by JRF
Hi,
Is it worth from some one in late 30s living in Bangalore, making 12 lakhs per annum as a Delivery manager in top tier (Indian) IT company to consider moving to Canada. His wife is a housewife who takes care of 7 & 3 year old boys.
He owns the apartment in bangalore where he lives, and on top it, he appears to have networth of close to a million dollar in India through the real estate assets.
My suggestion was "Not worth it", but I have a feeling they didn't like my opinion and think I am stopping them to enjoy what I enjoy ( Its natural I don't speak about the issues we face but good things about Canada only, I think I spoke much about multi cultural, free schools, EI, CPP, child tax benefits, maternity leave etc., etc., ). I asked him to pursue USA or Midddle east just if you want to escape some time from India.
Thought I will discuss in the forum. For some reason I didn't share the name of this site...
12 lakh CTC is not much. That means his take home is 35 % of 12 lakh ie 4 lakh or something pre year. But he must have make good money in real estate.
But issue is his job profile of delivery manager. Is he willing to start with senior softwar engineer job? If he can then only some here. Also in case he is in enterprise software then salary starts at 70k in case, if he is in embedded feild then may be 80k/90k.
He have to stop talking of deviliery meeting deadlines/milestones , sorting teething problems, start talking about enthusim about new technology, language skill set questions, how he fix technical issues etc.. best of luck for his adventure.... He may get manager job quickly after 1-2 years in being here.
His disposable income ( if gets more than 80k CAD)will be higher in canada compare to 12lakh job in banglore.
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infocan
I was in a similar situation 5 years back.. I took the jump it has worked partially for me.. i have had to take a step down.. but i work 9 to 5 , spend time in the Gym , get my weekends..
My wife who barely made any money in india now makes almost 70% of what i make and even more considering her income is on our corporation.
Getting a similar job in india after 6 months to a year is not that difficult.
If the person is financially well off i think the person should give it a try in canada.
Only point u should let him know is he should be ready to brace for failures..
Quote:
Originally posted by JRF
Hi,
Is it worth from some one in late 30s living in Bangalore, making 12 lakhs per annum as a Delivery manager in top tier (Indian) IT company to consider moving to Canada. His wife is a housewife who takes care of 7 & 3 year old boys.
He owns the apartment in bangalore where he lives, and on top it, he appears to have networth of close to a million dollar in India through the real estate assets.
My suggestion was "Not worth it", but I have a feeling they didn't like my opinion and think I am stopping them to enjoy what I enjoy ( Its natural I don't speak about the issues we face but good things about Canada only, I think I spoke much about multi cultural, free schools, EI, CPP, child tax benefits, maternity leave etc., etc., ). I asked him to pursue USA or Midddle east just if you want to escape some time from India.
Thought I will discuss in the forum. For some reason I didn't share the name of this site...
