NRIs moving from the US to India: How much salary to expect

[Guynextdoor]

well i thought so ..... well better buy a slammer property in Banglore city or if near new delhi then Gurgaon sec 82 or near new upcoming airport in jhewar

Golfshire is great if you're a 'C' level exec. It's not a 'home'. It gives you multi-millionaire neighbors, golf course to wine and dine your C level friends, attached JW Marriot and so on. It's 10 mins from the Airport and has the harrow school (yes, the UK school has an extension) nearby. And great view of Nandi hills.

If your just a normal 'middle class' or 'upper middle class' guy looking for a nice place for family then this is not the place for you. TE should be your stretch goal.

PGS is actually a nice place if you have the cash.

This is harrow- very close to PGS and Embassy Bulevard

 

[AjayGhatak]

I have a former colleague who moved back and she landed a $350k package for India - frankly, she was living a good life here but in India she is now royalty

I did that arithmatic quite a few times actually. I earn in that range, mostly in equity. The reality is this : You can buy a rolls royce or merc or tesla in India but you will never be able to buy a road or a traffic decent enough to drive in it. You can buy the most beautiful home but you can never buy clean air.

 

[AjayGhatak]

That's about 3.5 Crore. @AjayGhatak with a similar package and a big stretch maybe she could park herself at the Prestige Golfshire. Not an architectural womder unfortunately but very big and barbacue, private simming pool and Golf views! to wine and dine and schmmoze boss and client!!

So lets say she lives in Prestige Golfshire, if she needs to travel to Jayanagar even every other day thats how much of drive? Google map shows 50 KM. Wonderful.

Here is even more wonderful part. The nearest non-descript hospital to that "Golfshire" is minimum 10 KM. Colombia Asia, Rajaji Nagar, admittedly the best hospital in Bengaluru is 44 KM.

Thats like a different city distance.

I do wonder if they have a helipad in Golfshire. Given the distance and the kind of people they want to attract, they should build one. Take a helicopter ride from airport. Too bad not all offices in bangalore have a helipad on the roof top. Infact most dont.

This is the prime example of unplanned development and why it should be avoided like plague.

 

[AjayGhatak]

has the harrow school (yes, the UK school has an extension)

Common sense : If you want your kid to have UK education, would it not make more sense to move to UK itself? Why try to have a cheap Indian imitation? Move to UK and be done with it.

 

[Guynextdoor]

Common sense : If you want your kid to have UK education, would it not make more sense to move to UK itself? Why try to have a cheap Indian imitation? Move to UK and be done with it.

Easy to explain. With 3 million USD (say about 30 crore), I can work out how you can live your whole life as an extremely rich man in India with plenty to grow left. ven if you don't have any further income. Max in UK will be 'upper middle class'

my split-

Risk free monthly income- 10 crore in life annuities- good players like HDFC, SBI etc. give about 70k per month for 1 Cr till death. Means 7 lakhs per month for my income.

10 crore in high end real estate- I would pick up Embassy boulevard. Keep it for life to live king size.

10 crore left for equity investments or other riskier invisemnt .

My car- Taigun or Good mid range high end car like Skoda Slivia/ Superb

If I don't earn a single penny I would still be set up for life. Not possible in UK. And Harrow in UK is reserved only for elites. You won't get admission there. Bangalore is your only chance.

As for the rest, Bng is not static and is constantly growing. A MASSIVE metro is taking a lot of people off the roads and is running full. Roads are being built everywhere. With time things will ease.

 

[Oscar]

That's about 3.5 Crore. @AjayGhatak with a similar package and a big stretch maybe she could park herself at the Prestige Golfshire. Not an architectural womder unfortunately but very big and barbacue, private simming pool and Golf views! to wine and dine and schmmoze boss and client!!

But I won't go for Golfshire. I am humble man who belives in Simple Living and High Thinking so maybe Sobha City is better for me

In her defense she is an AI data SME - brilliant gal.

 

[AjayGhatak]

Easy to explain. With 3 million USD (say about 30 crore), I can work out how you can live your whole life as an extremely rich man in India with plenty to grow left. ven if you don't have any further income. Max in UK will be 'upper middle class'

With 3 million dollars you can retire in MOST parts of the world including USA, UK, Australia etc. Put 3 million dollars in 40-60 ratio of bonds and diversified equity (divident paying ones) and you can get a return of 3-4% easily. Thats US $120K each year OR C$ 160K. Keep a buffer of 200-300K for really bad economic times and you will do fine anywhere. Heck most people in the world do not earn that much. You can get top of the line insurance etc.

Assuming you earned this over a period of time, it will be fair to say that you have a fully paid off home. So yeah, 120K per year is a very good amount to retire. Even if you earned it all at once (say lottery), you can get "rent to own" deal houses. You can get a very great place to live in US, Australia, Canada with an income of 120K each year with rent to own in over 20 years.

Problem with India is, even with massive purchasing power, its quality of living sucks big time. This is why anyone with that kind of money will be looking to move out of it.

My car- Taigun or Good mid range high end car like Skoda Slivia/ Superb

Uhhh... Most folks making good money just lease the car. That way they get to replace the car every 3-5 years.

You can get a Range Rover Evoque S lease for C$ 600 per month and C$7000 down payment right now.

Range Rover Evoque Lease & Finance Offers | Land Rover Canada

Explore Range Rover Evoque offers & take advantage of exceptional leasing and financing offers today.

www.landrover.ca

After 4 years, I will replace it with new Evoque. I will not have to deal with any kind of re-selling it. Lease will take care of it.

Thing is, You will have roads in US/UK/Canada/Australia that will be good enough to drive it.

 

[AjayGhatak]

In her defense she is an AI data SME - brilliant gal.

Actually thats a pretty standard salary in SF for a senior software eng in specific companies.

 

[Guynextdoor]

With 3 million dollars you can retire in MOST parts of the world including USA, UK, Australia etc. Put 3 million dollars in 40-60 ratio of bonds and diversified equity (divident paying ones) and you can get a return of 3-4% easily. Thats US $120K each year OR C$ 160K. Keep a buffer of 200-300K for really bad economic times and you will do fine anywhere. Heck most people in the world do not earn that much. You can get top of the line insurance etc.

Assuming you earned this over a period of time, it will be fair to say that you have a fully paid off home. So yeah, 120K per year is a very good amount to retire. Even if you earned it all at once (say lottery), you can get "rent to own" deal houses. You can get a very great place to live in US, Australia, Canada with an income of 120K each year with rent to own in over 20 years.

Problem with India is, even with massive purchasing power, its quality of living sucks big time. This is why anyone with that kind of money will be looking to move out of it.


Uhhh... Most folks making good money just lease the car. That way they get to replace the car every 3-5 years.

You can get a Range Rover Evoque S lease for C$ 600 per month and C$7000 down payment right now.

Range Rover Evoque Lease & Finance Offers | Land Rover Canada

Explore Range Rover Evoque offers & take advantage of exceptional leasing and financing offers today.

www.landrover.ca

After 4 years, I will replace it with new Evoque. I will not have to deal with any kind of re-selling it. Lease will take care of it.

Thing is, You will have roads in US/UK/Canada/Australia that will be good enough to drive it.

I didn't say 'retire'. I said 'live like a rich man'. That's the difference. even if you deploy 2/3rd of the amount you'll have life long immedeate low risk income stream through annuties and the rest of the 1/3 available for riskier investments. I target minimum 25% for my equity investments. You are going to be 'rich'- get foreign trips every month, live in mansions, even buy Benz without breaking a sweat. But why buy big cars? That's the one investment that didn't make any sense to me.

Bond returns of 3 to 4% vs annuity yeilds alone of 7% to 8% in India- good luck beating inflation. I target 20% to 25% for my equities. But even without thatnyour investment pool will be big and growing.

30K a year for a 30 lac health insurance.

And as for the rest, neither is India as bad as you are claiming and nor is it as ideal as some others. I have been to many parts of the world and asked to move to the US, Poland, Barcelona, Singapore dozens of times. I didn't leave for the same reason why so many of my colleagues didn't- it's possible to create a secure cocoon if you have some money. You get a good enough life.

 

[AjayGhatak]

I didn't say 'retire'. I said 'live like a rich man'. That's the difference. even if you deploy 2/3rd of the amount you'll have life long immedeate low risk income stream through annuties and the rest of the 1/3 available for riskier investments. I target minimum 25% for my equity investments. You are going to be 'rich'- get foreign trips every month, live in mansions, even buy Benz without breaking a sweat. But why buy big cars? That's the one investment that didn't make any sense to me.

Here is the truth. What a "rich man" has is called quality of life. That will always be better in developed countries. Period, end of the story. What a low level rich man (with 30 crores in corpus) have is available for most folks here in Canada.

Quality of life of an upper middle class person living in retirement towns like Victoria BC (there is a reason why I like living here) will always be 100x better than Bangalore. No pollution, excellent roads, clean place to live and what not.

What you are doing is trying to create a bubble of high quality life in a low standard of living in India. That bubble will ALWAYS pop every now and then. Wanna need to rush to bank? Enjoy 3 hours of traffic. Wanna see off your parents? Thats 4 hours of frustrating traffic. Wanna enjoy a nice dip in lagoon? Hope no one whistles, sneers and makes sexual innundeo at your wife. Want to really feel the speed of your car? Hope you do not get hit by a darned cow. So on and so forth.

When you look at it, even the real estate is EXTREMELY expensive in India for what you get. How much will a 10,000 sqft of lot and a 3000 sqft of home will cost in India. Even in likes of Pune, I can assure you it will cost more than what I get that here in Victoria BC. And that is before I consider anything like road quality etc. Why so? Because builder is paying and spending that to create a small village of high quality life inside a hellscape of absolute shitty infra / planning in general in the city.

When in comes to finances, here in Canada/Australia/USA governments strive to keep inflation down. Because they know they will be kicked out otherwise. So my 3-4million retain their value MUCH better.

You yourself said about "foreign trips every month". Well, if thats what you want to get a good quality of life, why not just move outside and be done with it? Why create this approximation.

And just check it out. The number of people with money moving out of India are WAY MANY MORE times than rich NRIs or PIOs moving back in India. Tells you the reality.

 

[Oscar]

They will become future business incubators, investing their resources in new ventures and scaling up through their connections. Just like China, the Indians will be minting new millionaires.

Yep -

Actually thats a pretty standard salary in SF for a senior software eng in specific companies.

In SF yes - but usually not that common for an Indian firm to offer it to work in India

 

[AjayGhatak]

Bond returns of 3 to 4% vs annuity yeilds alone of 7% to 8% in India- good luck beating inflation. I target 20% to 25% for my equities. But even without thatnyour investment pool will be big and growing.

I did not say bonds. I said Bonds + Equity in 60-40 mix and that too I said "easy" and minimum. And I did take into consideration of reinvesting half of amount back to keep up with inflation in USA/Canada etc.

Vanguard 60/40 EFTs for instance has a return of 6.8-8% average. I will keep half of it as return and invest half back into my EFTs. That preserves the value of my investment. I will keep a cushion of 200-300K in cash to ensure any shock in the market does not wipe me out.

Here is one sample portfolio made from vanguard EFTs world over. It returns 7.4% per annum over past 30 years (https://www.lazyportfolioetf.com/allocation/all-country-world-60-40/).

With the annuities you are talking about, after your death, you estate will not be left with your premiums you paid to the bank. It will all be gone. Also, inflation will bite you worse because your payouts are FIXED.

In my calculations, I already ensured that inflation is adjusted by investing about 3-4 % BACK into corpus which leaves 3-4% as income. Meaning? My income in inflation protected and will grow as prices grow.

Annuities are essentially insurance products meant to generate fixed income. They can not and do not account for inflation or your sudden need of money.

 

[AjayGhatak]

In SF yes - but usually not that common for an Indian firm to offer it to work in India

I know Stripe offers a 10% paycut to work from anywhere in USA. I guess some specific individuals can work out deals to work from anywhere in the world.

 

[Guynextdoor]

I did not say bonds. I said Bonds + Equity in 60-40 mix and that too I said "easy" and minimum. And I did take into consideration of reinvesting half of amount back to keep up with inflation in USA/Canada etc.

Vanguard 60/40 EFTs for instance has a return of 6.8-8% average. I will keep half of it as return and invest half back into my EFTs. That preserves the value of my investment. I will keep a cushion of 200-300K in cash to ensure any shock in the market does not wipe me out.

Here is one sample portfolio made from vanguard EFTs world over. It returns 7.4% per annum over past 30 years (https://www.lazyportfolioetf.com/allocation/all-country-world-60-40/).

With the annuities you are talking about, after your death, you estate will not be left with your premiums you paid to the bank. It will all be gone. Also, inflation will bite you worse because your payouts are FIXED.

In my calculations, I already ensured that inflation is adjusted by investing about 3-4 % BACK into corpus which leaves 3-4% as income. Meaning? My income in inflation protected and will grow as prices grow.

Annuities are essentially insurance products meant to generate fixed income. They can not and do not account for inflation or your sudden need of money.

Well I can't talk a guy who is hell bent on living poor so all the best to you.

BTW @AjayGhatak I wasn't talking about ETFs, but secured annuties giving 8% to 7% . Indian ETfs will be higher and as with all ETFs have higher risk than secured annuties.

As for 'bubb;e' has to pop, same can be said of all economies. Canadian economy is hardly more sophisticated than Indian ones.

 

[Devlete_Hakikate]

Are you sure its Bangalore and not Brampton ? I think the reverse brain drain is they coming to Canada