It's anecdotal but I see people who moved to the US in the 90s or early 2000s made it big. They earned money they wouldn't probably have earned in India. I haven't met any middle class Indian American. But people who moved here after the recession are struggling (many to even make ends meet) even though tech salaries have risen crazily in the past few years. Was the market less competitive at that time? Was it because they got their GC earlier so they were able to look into better career options or do multiple jobs? Did they just accumulate wealth over time? Or is my observation incorrect?
I noticed that too… It’s because they came to the US when the US dream could be realized in a reasonable time frame with reasonable efforts … They made big bucks in 80s and 90s, bought bunch of real estate at reasonable price… And now are reaping the benefits of their lucky arrival at the right place at the right time … Sometimes I feel like coming to the US post recession was a financially bad decision ... wish my parents moved here in the 80s 🙄
But the salaries were lower then, how did they make big bucks?
Yes salaries were lower and so was inflation and so was retail prices and so was real estate… The dollar figure has increased but the dollar value has decreased
What r u taking about? Of course people who moved to the us back in the 90s have more money than those who moved later..more salaries/stocks paid over the years
Once you have been here as long as they have been as of right now you still wouldn’t reach their level of growth…
Correct @softvision. I see most 20s will still be middle class in their 40s unless they are switching jobs among big tech, which is really a small population of the entire base.
They had a 10-15 year head start.
You don’t have to be indian to answer this. Better economy. The internet boom. You get paid shit loads for skills that are considered super basic nowadays. Dotcom boom. Etc etc
Those skills are super basic now because our general has grown up with it. In the previous generation, someone with good visual basic skills was top of the game. But not everyone was there, yet everyone seems to have made it in life. Companies have started paying high salaries now yet we struggle to raise kids.
1) they were rich enough to come here in the first place. Poor people in India/China have a much harder time getting to the USA for school and jobs. Money makes that much easier, hence the majority that are here already had money. 2) when you grind your balls off and eat on a poverty budget and pocket 90% of your after tax comp, it starts to gain interest pretty fast after 15 years.
1) It should be harder now because $ is at 70. In the 90s, $ was at 30-40, so someone in India had to earn 30 times then as compared to 70 times now to pay the same cost. Inflation in the US has always been low, so cost hasn't changed much. 2) Do you mean they just lived in poverty and saved all the money they earned? I don't think so. An average Rahul (as someone pointed out, that's what I should say) today us struggling to raise 2 kids in the Bay area, I don't think he will have much savings in his 40s.
Move to New Jersey/New York and you’ll know exactly what I’m talking about.
Depends on the profession, in the 70s and 80s Indian doctors got green cards at the airports, imagine that. The demand for H1B workers steadily increased after the dot com boom, those would have mostly got their green cards by now. Those who arrived after recession, they are looking at 10-15 year backlogs to get their green cards and that’s the reason they are struggling.
GC doesn't change much except for stability, does it? It doesn't bring in money unless you start something in your own, which again is a very small population.
GC does add stability .... but it adds a lot more .... also increases your salary because what the company doesn’t pay for immigration it can pay you… Also you will have more opportunities because you won’t be bound by job openings that can’t sponsor so you can have more counter offers ... and you will have more investment avenues
Im wondering if there's any data at all for this claim
I mentioned it's anecdotal
I know your speculation is anecdotal, but is there a way to get some data
They took their chances. It was a hit or a miss. What about you? It's always going be a safe bet coming to the US now.
How's it a safe bet now?
Selection bias. We pick the best specimen from a population of 1.2B, so obviously they disproportionately thrive relative to the local population.
Best my ass, today only rich people who cant get job in india are coming to US. Less than 5% of IIT grads are coming to US compared to 70%+ in the 90s.
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Those who moved in 90s will be in their 40s (average) vs those who moved after 2010 likely in their 20s (average). Your comparison makes little sense. Also companies giving fake experience and fake degrees to fake consulting companies have increased who get ppl to India but lead them to poverty here.
I see your point. But I factored that in. I don't think the average 20s Ramesh will be as rich (and relaxed) in his 40s as a 40 year old Ramesh today.
Ramesh lol .... come on dude at least pick Rahul now