More About Money

Nick-H · Oct 4th, 2004, 23:57

It's very difficult to get to grips with Indian economy where many things are so much cheaper than UK, but some things not.

I'm planning to live in Chennai, at least for a while. I expect to have an income of about R3,80,000 from investments over and above basic accomodation costs.

Where does this place me on the 'social scale'? how does it compare with the income of, eg, teacher, doctor, etc. What kind of job would have this income?

I onlly discovered this forum yesterday and I'm delighted I did! I'm sure I will have many more questions to ask ...and perhaps some answers to give too:-)

crvlvr · Oct 5th, 2004, 00:11

check out http://www.payscale.com

Merchant · Oct 5th, 2004, 00:40

A senior-level college professor makes about 15,000 rupees per month (around $350), or a little less.

Nick-H · Oct 5th, 2004, 00:48

Thanks for the information. payscale.com looks like it's meant to work the other way round, pay for the job rather than jopb for the pay, buit it's a useful site to know about.

So, I'll be better off than a proffessor. But is India like UK where public sector jobs won't be nearly as well paid as commercial ones?

Merchant · Oct 5th, 2004, 00:56

Professors are paid by the government--higher education is nationalized.

Do I read your number right? You'll make three hundred eighty thousand rupees per month? Over US$8400 per month--above accomodation? That's a hell of a lot of money, anywhere on the planet. I wouldn't worry about India. You would be one of the wealthier people in Chennai, and you certainly wouldn't be able to spend that money very easily. The economy is just too small unless you are buying luxury items.

As a general guideline, dollars are about ten times stronger in India in terms of purchasing power. I don't know how the pound is doing against the rupee (don't think pounds-dollars-rupees, just pounds-rupees). Anyway, you'll be a fat cat.

Nick-H · Oct 5th, 2004, 00:59

Oh dear, I never was any good at numbers, or at least being clear about them. All I can say is "I WISH". No; I am talking per YEAR, not per month. A very modest amount of money in UK terms!

Merchant · Oct 5th, 2004, 01:02

Ah--my confusion. $700 or so per month puts you squarely in the middle class, very comfortable. Those Indian professors with half that amount per month feed families, pay school fees, arrange weddings, etc. You'll be well off.

Nick-H · Oct 5th, 2004, 01:09

Ahh, much as I suspected: thanks.

So I wouldn't be such a bad catch for a Suitable Girl, then?-)

...But that's another thread entirely!

Merchant · Oct 5th, 2004, 01:21

Yes, Chennai girls will be falling all over you. There are lots of colleges in town. You'll see girls motoring along on their "two wheelers," wearing yellow salwars with one long braid of hair behind them. Funny how romance in India is inseparable from a two-stroke engine . . .

Nick-H · Oct 5th, 2004, 01:33

Well, that's a lovely fantasy: especially if that long plait has got jasmine woven into it :-)))))

But I'm a bit old for a college girl (at least, I'm sure she'd think so;-( ); I'm more likely to be in the widows and divorcees market!

Nick-H · Oct 7th, 2004, 16:59

Oooh Goodiie Goodie!

I just had my requested state pension forcast. Even if I don't pay any more NI contributions I'll get £103 a week.

4.5 lahk per year. That's something to look forward to (it's only 13 years away).

Of course 13 years is a long time in economics...

Auntyji · Mar 24th, 2005, 21:25

Quote:

Originally Posted by Merchant

Yes, Chennai girls will be falling all over you. There are lots of colleges in town. You'll see girls motoring along on their "two wheelers," wearing yellow salwars with one long braid of hair behind them. Funny how romance in India is inseparable from a two-stroke engine . . .

HOW did you get that so right? "romance in india is inseparable from a two-stroke engine"!! Speaking as one who was romanced thus, your line brought back sooooo many memories. Almost made me want to run and buy a bike and beg my husband to get on it for old times sake!! Don't know if it's nostalgia, but there's something about having ten rupees between the two of you and "splurging" on bhel at the beach (having gotten there on the afore-mentioned two-stroke engine).

Oct 4th, 2004, 23:57	#1
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,644	More About Money It's very difficult to get to grips with Indian economy where many things are so much cheaper than UK, but some things not. I'm planning to live in Chennai, at least for a while. I expect to have an income of about R3,80,000 from investments over and above basic accomodation costs. Where does this place me on the 'social scale'? how does it compare with the income of, eg, teacher, doctor, etc. What kind of job would have this income? I onlly discovered this forum yesterday and I'm delighted I did! I'm sure I will have many more questions to ask ...and perhaps some answers to give too:-)

Oct 7th, 2004, 16:59	#11
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,644	When I'm Sixty-Five... Oooh Goodiie Goodie! I just had my requested state pension forcast. Even if I don't pay any more NI contributions I'll get £103 a week. 4.5 lahk per year. That's something to look forward to (it's only 13 years away). Of course 13 years is a long time in economics...

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Oct 5th, 2004, 00:11	#2
crvlvr Guru Join Date: Sep 2004 Location: Hollywood Posts: 4,493	check out http://www.payscale.com

Oct 5th, 2004, 00:40	#3
Merchant Maha Guru Member Join Date: Oct 2003 Location: New York Posts: 2,096	A senior-level college professor makes about 15,000 rupees per month (around $350), or a little less.

Oct 5th, 2004, 00:48	#4
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,644	Thanks for the information. payscale.com looks like it's meant to work the other way round, pay for the job rather than jopb for the pay, buit it's a useful site to know about. So, I'll be better off than a proffessor. But is India like UK where public sector jobs won't be nearly as well paid as commercial ones?

Oct 5th, 2004, 00:56	#5
Merchant Maha Guru Member Join Date: Oct 2003 Location: New York Posts: 2,096	Professors are paid by the government--higher education is nationalized. Do I read your number right? You'll make three hundred eighty thousand rupees per month? Over US$8400 per month--above accomodation? That's a hell of a lot of money, anywhere on the planet. I wouldn't worry about India. You would be one of the wealthier people in Chennai, and you certainly wouldn't be able to spend that money very easily. The economy is just too small unless you are buying luxury items. As a general guideline, dollars are about ten times stronger in India in terms of purchasing power. I don't know how the pound is doing against the rupee (don't think pounds-dollars-rupees, just pounds-rupees). Anyway, you'll be a fat cat.

Oct 5th, 2004, 00:59	#6
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,644	Oh dear, I never was any good at numbers, or at least being clear about them. All I can say is "I WISH". No; I am talking per YEAR, not per month. A very modest amount of money in UK terms!

Oct 5th, 2004, 01:02	#7
Merchant Maha Guru Member Join Date: Oct 2003 Location: New York Posts: 2,096	Ah--my confusion. $700 or so per month puts you squarely in the middle class, very comfortable. Those Indian professors with half that amount per month feed families, pay school fees, arrange weddings, etc. You'll be well off.

Oct 5th, 2004, 01:09	#8
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,644	Ahh, much as I suspected: thanks. So I wouldn't be such a bad catch for a Suitable Girl, then?-) ...But that's another thread entirely!

Oct 5th, 2004, 01:21	#9
Merchant Maha Guru Member Join Date: Oct 2003 Location: New York Posts: 2,096	Yes, Chennai girls will be falling all over you. There are lots of colleges in town. You'll see girls motoring along on their "two wheelers," wearing yellow salwars with one long braid of hair behind them. Funny how romance in India is inseparable from a two-stroke engine . . .

Oct 5th, 2004, 01:33	#10
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,644	Well, that's a lovely fantasy: especially if that long plait has got jasmine woven into it :-))))) But I'm a bit old for a college girl (at least, I'm sure she'd think so;-( ); I'm more likely to be in the widows and divorcees market!

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