Is 45 Lakh a Average / Good or Great Salary for Bangalore

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#1 Mar 28th, 2010, 02:01
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  • gr8 is offline
#1
Hi,

I am a Indo-Canadian, In middle of negotiations with HR to move from Canada to India-Banglore, They are looking at around 45Lac/Total pacakage, I am really confused if I should take it or not. Currently I am in bracket of 80Lac/year.

Any advice is greatly appreciated.

Regards / G
#2 Mar 28th, 2010, 02:20
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  • justdeep is offline
#2
Hi gr8,
Rs. 45 Lakh/year is Rs 262500 per month after taxes!
It's quite a good salary for Bangalore but not great, especially if you are moving from a 80 Lakh bracket! Why would you move from a 80 Lakh bracket to a 45 lakh one?
#3 Mar 28th, 2010, 02:27
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#3
Basis income tax rate, almost 30% of that figure will go away in tax. So your actual take home may well work out to be about 30-32lakhs per annum.

I would say it would be unfair to compare the salary in Canada with the Indian counterpart considering the cost of living will be much lower and purchasing power parity will be much higher in India.

Having said that, you may well be eligible and qualified enough to get such a salary in India too.
Cheers
OS
#4 Mar 28th, 2010, 04:25
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#4
If by 45Lac/Total package you mean that you'll be responsible for housing, transportation, utilities, etc. I'd consider the salary to be below-average for an expat (know that as Indo-Canadian you're likely to get fleeced much in the way a foreigner would).
#5 Mar 28th, 2010, 08:45
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#5
Quote:
Originally Posted by justdeep View Post Hi gr8,
Rs. 45 Lakh/year is Rs 262500 per month after taxes!
It's quite a good salary for Bangalore but not great, especially if you are moving from a 80 Lakh bracket! Why would you move from a 80 Lakh bracket to a 45 lakh one?
Reason from Moving from Canada to India is purely, the nuclear society which is impacting my kids growth (3 & 5 Years old).

Quote:
Originally Posted by namaste_cat View Post If by 45Lac/Total package you mean that you'll be responsible for housing, transportation, utilities, etc. I'd consider the salary to be below-average for an expat (know that as Indo-Canadian you're likely to get fleeced much in the way a foreigner would).
I agree, but the question is what should i ask,, obivously they won't match Dollar2Rupee,, And in Canada also, its NOT easy to get $175,000 /year, infact its really high. So what number i should negoitate, In my very first round, I have shown my unwillingess to except a offer of 40/45,, as It's just half what i am making today. I can't afford to leave my life style with 40/45.

Quote:
Originally Posted by namaste_cat View Post If by 45Lac/Total package you mean that you'll be responsible for housing, transportation, utilities, etc. I'd consider the salary to be below-average for an expat (know that as Indo-Canadian you're likely to get fleeced much in the way a foreigner would).
Not sure, about housing but guessing if its all inclusive, then your point is DON'T do it.
Last edited by Swapnil; Mar 30th, 2010 at 20:20.. Reason: Merging consecutive posts ...
#6 Mar 28th, 2010, 09:17
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gr8 - apologies, I read your salary amount too fast, so on second thought, it's not below average. So it should be okay. I don't know if Canada and India have a tax treaty but that's another thing to check - what your post-tax salary will be after is factored in including any benefits being taxable.

Mostly what I learned when I was looking into moving there w/ my hubby and 2 kids was that the costs we (expats) face are much higher than a local person would. For example, if you are a foreign citizen on an employment visa, your kids will fall into the foreign quota at schools and the tuition is going to be pretty high. My brother is OCI and his wife PIO, their kids fall into the "NRI quota"; in their case they didn't get much of a break on tuition.

Add in transportation, housing, insurance, etc. and I found that I needed much higher salary than they were willing to pay me.
#7 Mar 28th, 2010, 09:25
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#7
Quote:
Originally Posted by gr8 View Post Hi,

I am a Indo-Canadian, In middle of negotiations with HR to move from Canada to India-Banglore, They are looking at around 45Lac/Total pacakage, I am really confused if I should take it or not. Currently I am in bracket of 80Lac/year.

Any advice is greatly appreciated.

Regards / G
Its good pkg in India , don't compare with other country salary , bcos there will different cost of living or price parity.

By theway , what is the company name which offering this salary .. I will apply my candidature ;-)
"In this life we cannot always do great things. But we can do small things with Great love"
- Mother Teresa 1910 - 1997
#8 Mar 28th, 2010, 09:27
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#8

tax treaty

On the issue of taxes - I looked into it when I was considering a job in Paris (in a former life). We are much different than the US on this issue and have treaties with most countries.

see here for the information specific to India

http://www.treaty-accord.gc.ca/text-...09#top_of_page
#9 Mar 28th, 2010, 11:16
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#9
Quote:
Originally Posted by Brijwasi View Post Its good pkg in India , don't compare with other country salary , bcos there will different cost of living or price parity.

By theway , what is the company name which offering this salary .. I will apply my candidature ;-)
Thanks for your reply, but unfortunately, I can't disclouse the name of company, but I can tell you I am in IT and am Advisory Consultant for a alliance, I have made up my mind, I just ran into 2 phase with 50Lac/ my offer is 70Lac (all Inc). So let'c ...

Quote:
Originally Posted by Brijwasi View Post Its good pkg in India , don't compare with other country salary , bcos there will different cost of living or price parity.

By theway , what is the company name which offering this salary .. I will apply my candidature ;-)

Thanks, "Brijwasi" really strange, my wife shares the same last name, I have decided that my offer is 70Lac,, now its upto them how they handle it, as even if I get 70 I am not 200% sure if that's enough.

Quote:
Originally Posted by NatashaC View Post On the issue of taxes - I looked into it when I was considering a job in Paris (in a former life). We are much different than the US on this issue and have treaties with most countries.

see here for the information specific to India

http://www.treaty-accord.gc.ca/text-...09#top_of_page
Thanks, well as per Canadian story ..only 3% of total population is in the bracket of earnings & tax...like mine,, its almost 50% taxed. So India, based on tax seems oke, as its only 30% but that's really not my worries. I personally think 45Lak is bit low for someone like me, I am 34years old with 17yrs core expierence and therefore my offer back to them is 70Lac... Lets see what happens..I am sure, they will get in the range.

Quote:
Originally Posted by namaste_cat View Post gr8 - apologies, I read your salary amount too fast, so on second thought, it's not below average. So it should be okay. I don't know if Canada and India have a tax treaty but that's another thing to check - what your post-tax salary will be after is factored in including any benefits being taxable.

Mostly what I learned when I was looking into moving there w/ my hubby and 2 kids was that the costs we (expats) face are much higher than a local person would. For example, if you are a foreign citizen on an employment visa, your kids will fall into the foreign quota at schools and the tuition is going to be pretty high. My brother is OCI and his wife PIO, their kids fall into the "NRI quota"; in their case they didn't get much of a break on tuition.

Add in transportation, housing, insurance, etc. and I found that I needed much higher salary than they were willing to pay me.
I am not a NRI, as I have only Canadian Citizenship, although, I could apply for "Dual Citizenship", which will solve lots of problems. For now, My offer is 70Lak/year (all inc.), I am sure, they will match it.
Last edited by Swapnil; Mar 30th, 2010 at 20:24.. Reason: Merging consecutive posts ...
#10 Mar 28th, 2010, 11:28
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#10
Quote:
Originally Posted by gr8 View Post Thanks, well as per Canadian story ..only 3% of total population is in the bracket of earnings & tax...like mine,, its almost 50% taxed. So India, based on tax seems oke, as its only 30% but that's really not my worries. I personally think 45Lak is bit low for someone like me, I am 34years old with 17yrs core expierence and therefore my offer back to them is 70Lac... Lets see what happens..I am sure, they will get in the range.
When you mentioned your income earlier I realised you were in a high tax bracket here. However, for Americans (and others) no tax treaties results in them paying income tax in the US and in the country where they work (thus are being double taxed). Regardless, given that you have 2 children and your wife to suppourt as well as the extra cost of private education at the 'foreign' tution structure the counter offer may be appropriate. Good luck!
#11 Mar 28th, 2010, 11:43
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#11
Quote:
Originally Posted by NatashaC View Post When you mentioned your income earlier I realised you were in a high tax bracket here. However, for Americans (and others) no tax treaties results in them paying income tax in the US and in the country where they work (thus are being double taxed). Regardless, given that you have 2 children and your wife to suppourt as well as the extra cost of private education at the 'foreign' tution structure the counter offer may be appropriate. Good luck!

Rightly so, But under Canadian Laws, if you stay away for more then 2 years then you are not subjected to Canadian Tax (difference of tax between 2 countries). My Wife will be working ONLY to take care of kids, as that's the biggest job, and the sole reason to move over.

Quote:
Originally Posted by namaste_cat View Post gr8 - apologies, I read your salary amount too fast, so on second thought, it's not below average. So it should be okay. I don't know if Canada and India have a tax treaty but that's another thing to check - what your post-tax salary will be after is factored in including any benefits being taxable.

Mostly what I learned when I was looking into moving there w/ my hubby and 2 kids was that the costs we (expats) face are much higher than a local person would. For example, if you are a foreign citizen on an employment visa, your kids will fall into the foreign quota at schools and the tuition is going to be pretty high. My brother is OCI and his wife PIO, their kids fall into the "NRI quota"; in their case they didn't get much of a break on tuition.
.
You are right, and therefore in my second phase, my offer is 70Lac(all inc.) I am sure they will accept it, but the real challenge is if I accept it..

Add in transportation, housing, insurance, etc. and I found that I needed much higher salary than they were willing to pay me

Just to be clear,
GR8 represents..GREAT (Theory)
GR8 represents........Technically
G(My Initial) R(Wifi's Intial) and 0+0(both kids)=8.
Gents,Thanks a $illion of your suggestions and comments. I will miss my family, if i don't move, I am willing to take 10% hit, but not moving from 80 to 45,, sorry,, it's just me.
Last edited by Swapnil; Mar 30th, 2010 at 20:28.. Reason: Merging consecutive posts ...
#12 Mar 28th, 2010, 13:01
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#12
Good grief... it's a vast amount of money in India!
~
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#13 Mar 28th, 2010, 13:03
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#13
I don't think,, as IIM Grads get 50Lak,, but yes its not a easy amount to earn.
#14 Mar 28th, 2010, 13:08
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#14
Quote:
Originally Posted by gr8 View Post I don't think,, as IIM Grads get 50Lak,, but yes its not a easy amount to earn.
This year a guy from IIM Calcutta got a job offer for Rs 1.25 CRORES!!!!

The amount of Rs 70-80 lakhs is difficult for an Indian to get as salary, but it is definitely not much for a foreign worker to get as salary in India. Why would a Westerner come for a salary of $150,000 when he can get more there?
#15 Mar 28th, 2010, 13:19
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#15
Quote:
Originally Posted by funny_in View Post This year a guy from IIM Calcutta got a job offer for Rs 1.25 CRORES!!!!

The amount of Rs 70-80 lakhs is difficult for an Indian to get as salary, but it is definitely not much for a foreign worker to get as salary in India. Why would a Westerner come for a salary of $150,000 when he can get more there?
Very True, IIM's guys are great and truely deserve what they get.

But in my case, I am merely a high school grade, and moving to india for only kids's sake. Being a parent I would like to help them as much as I can, but at the same time, It's difficult to swallow a nonsense of 45lak, and therefore my minum offer to the company is 70Lac, which i know they will agree.
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