I'm thinking of relocating to Redmond in the hopes of SAVING more money. I know that TC is uncomparable between Bangalore and Redmond because of the economy and currency differences.So, I'm only looking for savings comparison. I have quality work in my current team and chilled WLB as well. In Bangalore TC is around 55L INR. Post taxes, this is 38L INR. I live a relatively simple life and saved 24L INR(35K USD) in the last year. My typical spend is on House Rent(4L) Home food(3L) Maid(2L) Car expenses(2L) Misc(internet, travel to hometown, clothing etc -3L) I expect these expenses to go up by another 30% post marriage, so saving will be around 20L. Assuming I'm at the same level(L63) whether I move to Redmond or stay in Bangalore, what are the potential savings that I can expect in Redmond? Those that moved recently, please share your experiences. Do you make huge savings(100% or more in US) compared to Bangalore? Do you save enough to buy a house in Bangalore in 3-4 years?
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You don’t get RSU/ESPP in India?
We do. For simplicity, I've added up all of the money that I make in an year( Base + bonus + RSU vested per year)
Everything else is fine, but you are mistaken that you will be able to save 20L after marriage :-)
L63 will typically make 200-230K TC. If you plan to lead a simple life your monthly expense will be around 2.5K-3K a month. Now do the math, also use the tax calculator to get an idea on the take home pay.... As an aside, Given the current immigration shenanigans in USA and the anti immigrant rhetoric that’s running, this is probably not worth it..it may also limit your career progress for next few years
$2.5-3k a month, really? Thats just the starting mortgage here. My total runs $9-10k a month($3.5k mortgage, $500 car, $1200 kid school, $3-4k credit cards that includes grocery, utility and everything else). Add an occasional vacation that costs at minimum $5k a trip for family of 3-4.
If he is coming to us for some time he will rent, and not pay the mortgage
Microsoft in US for L63 would pay in an average $200k. After tax is around $140k. Even if you spend 50% after marriage, you will lead a very comfortable life. So you would save minimum of $70k. Downside is if you come here on L1B then it takes forever to get green card and you can't change company without moving to H1B. If you are on L1B then your spouse can work without company sponsorship as she would get dependent Visa with work authorization. If you switch to H1B then spouse can't work for most of the time and it is getting worse. Best option. Become a lead (manager), work for one year and move to microsoft Redmond as a lead (Manager). You will then quality for L1A Visa and getting green card in that takes less than a year. You can change commpanies any time you want and you spouse can work too.
Dude..if you want to talk savings, just come to US. There is no comparison.
Sounds good. L1A route does sound lucrative. But the big IF is about how long it takes to become a manager. In the normal scenario - 70K USD savings is double that of what I save in Bangalore. That is quite a jump. If I continue in Bangalore and make a couple of jumps, I may reach that level of savings after 5 years.
Talk to people around you who came on L1A on what it takes. Do _NOT_ come on anything other than L1A. You have been warned
How many years of experience? Are you an SDE . What kind of breakup does MS offer for TC of range as 55.
Also think about other factors like family, comfort etc. There is no second opinion about amount of savings that you will have of you come to US. But if you are a family person, then you will have to live away and you cannot compare it in terms of money. Same about friends.. You are all good, settled, why do you want to struggle art least for some time. 20 L per year saving is too much for living royally in India... You can easily buy house in India and build the future. In US, you won't be able to get a house immediately. All this depends on whether you want to move to US permanently... But to summarize, I would say you are in a great position in India.. Enjoy the life... There is always somebody who will make more than you, but you don't really need that much.
Agreed on the family & friends aspect. This is something that we cannot compare against money. I'm more of a family man and I'm not interested in permanently moving to US. So, I've realised that my interest is only short term. At the same time, it's quite a bit of money to simply ignore. It's going to be definitely hard to NOT compare one with peers about compensation/money. I'm going to evaluate options to make as much money while I live in India.
Yeah, while staying in India, you can start thinking about secondary possessive income, start business. That's a lot satisfying. You can't do either of these in US. Had your income been 15L-20L (which is still very good), I would have recommended to come to US for short term and save and go back. But it's over 50L already, so not much worth the hassle. And of course, your income will keep growing at 5-10%pa so that would be even more lucrative 3-4 years down the line.
You would probably get more answers if you wrote the amounts in USD making it easier for the Americans to give you comparables.