relocating to india...offer in Mumbai....need advise!!!

expat · Dec 27th, 2006, 23:27

Hi friends,

I am a family man and having 2 school going kids and have been living outside India for almost 20 years and now have an offer to move into Mumbai. The position is as Regional Manager - Western and the Gross salary offered is Rs 14 lakhs per annum + Incentive at Rs 2 lakhs. I just made a quick calc and after tax deductions (@33%) Net salary will be Rs 9,38,000 + Rs1,34,000 = Rs 10,72,000 which gives a monthly income approx 90,000/-

I need advise on the following:
1) Is this a good offer for the given position?
2) How much of this will go towards rent?
3) ...go towards travelling?
3) ...go towards education expenses?
4) ...go towards monthly house expenditure like water, electricity, grocery, etc..
5) ...go for incidental expenses for the weekends?
6) ...therefore how much can I expect to save?

I need to give my answer to the company before 31st Dec 2006 and therefore will request if many of you could give me advise ASAP.

pennylessinindia · Dec 29th, 2006, 22:15

There are a lot of questions to ask / answer
Rs 90 000 is a good salary but the cost of living in
mumbai is high and if you are coming back with high (epat)expectations of schooling good accom you will be hard pressed
with that money
Others may differ?

capt_mahajan · Dec 29th, 2006, 22:46

Agree with pennylessindia (joke, are you related to sleeplessinseattle?

)

The salary is average for that position.

I would say check what accomodation acceptable to you would cost.
You can, for eg, blow up all the 90k on rental quite easily.

Other costs can vary so much in Mumbai, depending on your lifestyle.

All in all, 90k in Mumbai is not going to allow you to save a lot, if you have a upper middle class lifestyle.

IndeGuru · Dec 29th, 2006, 22:54

Ask the Co to absorb your rent as this is going to be a major killer on your savings, else you would be just about ok with that kind of earnings in a city like Mum

pennylessinindia · Dec 29th, 2006, 22:57

Joke - I wish I was related to sleepless and then I would not be pennyless!!

The other biggie is schooling if you want expat schooling your rs 90 000 will be gone in a flash.

expat · Jan 2nd, 2007, 10:47

Thanks gentlemen, taken your advice and have requested the company to handle my rent and have also asked for a company car to be provided.

My children are currently studying in Delhi Public School and I know that this school branch is in New Mumbai - Vashi and its very far.

Any advise on good CBSC schools around Santacruz / Vileparle / Andheri / Bandra areas?? What would be the schooling expenses??

Thanks once again for your kind advice.

Host · Jan 3rd, 2007, 16:03

Where are you planning to stay / reside and where will be your office.

Is your company going to provide accommodation or are they going to absorb the rent.

expat · Jan 4th, 2007, 17:30

Quote:

Originally Posted by Host

Where are you planning to stay / reside and where will be your office.

Is your company going to provide accommodation or are they going to absorb the rent.

Mostly it will be in Santacruz / Andheri / Bandra or near abouts.
Company is not providing accomodation. Its on my account..

Host · Jan 4th, 2007, 18:51

Quote:

Originally Posted by expat

Mostly it will be in Santacruz / Andheri / Bandra or near abouts.
Company is not providing accomodation. Its on my account..

Have you checked the rentals in that area.. Andheri should be pretty cheap.. a decent 2 BR in Bandra would be for 45K per month.

And where will be your office?

expat · Jan 6th, 2007, 01:52

Quote:

Originally Posted by Host

Have you checked the rentals in that area.. Andheri should be pretty cheap.. a decent 2 BR in Bandra would be for 45K per month.

And where will be your office?

office is in Santacruz east...Kalina area....

considering a 5 Km radius from office, where would be the lowest rents for a 2 BHK or 3 BHK.

Any advice on CBSC schools in nearby areas???... what could be the annual fee structures??

Thanks for all your help...

theshutterbug · Jan 6th, 2007, 10:02

Quote:

Originally Posted by expat

office is in Santacruz east...Kalina area....

considering a 5 Km radius from office, where would be the lowest rents for a 2 BHK or 3 BHK.

Any advice on CBSC schools in nearby areas???... what could be the annual fee structures??

Thanks for all your help...

This CBSE list might help you !http://www.winentrance.com/Schools/CBSE/Maharashtra/

Also you will get quite a good accommodation between 20-25K

Dec 27th, 2006, 23:27	#1
expat Member Join Date: Dec 2006 Location: dubai Posts: 5	relocating to india...offer in Mumbai....need advise!!! Hi friends, I am a family man and having 2 school going kids and have been living outside India for almost 20 years and now have an offer to move into Mumbai. The position is as Regional Manager - Western and the Gross salary offered is Rs 14 lakhs per annum + Incentive at Rs 2 lakhs. I just made a quick calc and after tax deductions (@33%) Net salary will be Rs 9,38,000 + Rs1,34,000 = Rs 10,72,000 which gives a monthly income approx 90,000/- I need advise on the following: 1) Is this a good offer for the given position? 2) How much of this will go towards rent? 3) ...go towards travelling? 3) ...go towards education expenses? 4) ...go towards monthly house expenditure like water, electricity, grocery, etc.. 5) ...go for incidental expenses for the weekends? 6) ...therefore how much can I expect to save? I need to give my answer to the company before 31st Dec 2006 and therefore will request if many of you could give me advise ASAP. Last edited by machadinha : Dec 28th, 2006 at 00:08. Reason: moved to "moving to mumbai" forum

Dec 29th, 2006, 22:57	#5
pennylessinindia Member Join Date: Nov 2006 Location: India Posts: 59	mumbai Joke - I wish I was related to sleepless and then I would not be pennyless!! The other biggie is schooling if you want expat schooling your rs 90 000 will be gone in a flash.

Jan 3rd, 2007, 16:03	#7
Host Awesome Join Date: Jun 2005 Location: Mumbai Posts: 40	Where are you planning to stay / reside and where will be your office. Is your company going to provide accommodation or are they going to absorb the rent. __________________ www.pixbuddy.com - Capturing Life around me! www.pixbuddy.com/category/sikkim/ - Sikkim captured !

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Dec 29th, 2006, 22:15	#2
pennylessinindia Member Join Date: Nov 2006 Location: India Posts: 59	There are a lot of questions to ask / answer Rs 90 000 is a good salary but the cost of living in mumbai is high and if you are coming back with high (epat)expectations of schooling good accom you will be hard pressed with that money Others may differ?

Dec 29th, 2006, 22:46	#3
capt_mahajan (in charge of navel affairs) Join Date: Sep 2005 Location: India Posts: 10,101	Agree with pennylessindia (joke, are you related to sleeplessinseattle? ) The salary is average for that position. I would say check what accomodation acceptable to you would cost. You can, for eg, blow up all the 90k on rental quite easily. Other costs can vary so much in Mumbai, depending on your lifestyle. All in all, 90k in Mumbai is not going to allow you to save a lot, if you have a upper middle class lifestyle.

Dec 29th, 2006, 22:54	#4
IndeGuru Senior Member Join Date: Dec 2005 Location: New Delhi- national capital region Posts: 239	Ask the Co to absorb your rent as this is going to be a major killer on your savings, else you would be just about ok with that kind of earnings in a city like Mum

Jan 2nd, 2007, 10:47	#6
expat Member Join Date: Dec 2006 Location: dubai Posts: 5	Thanks gentlemen, taken your advice and have requested the company to handle my rent and have also asked for a company car to be provided. My children are currently studying in Delhi Public School and I know that this school branch is in New Mumbai - Vashi and its very far. Any advise on good CBSC schools around Santacruz / Vileparle / Andheri / Bandra areas?? What would be the schooling expenses?? Thanks once again for your kind advice.

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