I am 25 and sole bread winner for my family. I am in my first job and earning well with experience of 2.5 years here in Bangalore, India. Though due to our past economic situation I find myself struggling financially as I need to take care of my entire family. I have some options in my current company as well to move to USA. Should I explore these options with my manager? Can I really live a better life and save more in USA. What challenges I am likely to face in getting work visa if I get hired in some other bay area company. What other locations with relatively easy Visa acceptance I can try for? Singapore?, Canada? London? Some people suggest that you are better off in India, as living costs are cheaper in India and you will save more here. What are your thoughts?
You will definitely save more in USA unless your indian salary is really high. You can save about 30% of your gross salary easily, can be increased to 40% saving depending on standard of living.
He seems to be a software engineer. Btw, how much are you earning and how much are you able to save?
I am earning close to 15LPA fixed plus bonuses of 3LPA. Right now I have some big family expenditures so everything is going there. Other wise I can save close to 50%
You can save about 30-50 lacs per year here depending on what you get at Walmart in bay area.
Start leetcoding and move to America! First comment is accurate. You can easily save $3K/ month to send back, which is equal to 25 lacs in rupees each year based on rate of 70 rs./ usd. Even if the moves ends up being for a few years due to visa constraints, it will make your later life in india or somewhere else much much smoother
U can easilt save around 20lpa in India
He said his annual income is 15 lacs
Try other countries, focus on long term.Visa in US is kind of sink hole.Australia, Canada and Denmark are good and these countries allow you to become citizen compare to US. Even if you save 10 lac less than US it makes sense. Having a freedom to move around is more important than saving.Talent and freedom to move freely can always cover differences assuming you know how to earn.
You are very young starting the life now. Don't waste time on visas.
You can try for better jobs in India. LinkedIn Uber Salesforce Microsoft Google DEShaw among the big ones, and tons of startups that pay well. Don't get into the visa rat race in the US. Also, looks like your family needs you back home, so choose wisely.
This
If you relocate within the same company (Walmart), L1B visa is a good option because it does not need a lottery. If joining a new company, you will have to win the H1B lottery (Apr 2019) and wait for the H1B to get effective in Oct 2019 before you can actually start to work. The lottery is like 30% chance I would say, so many companies other than consultation firms (they send contract engineers to clients) do not want to do that for people not graduated from US. I would secure the L1B visa first and then make a decision. Hope this helps!
For another question, to save more, I would recommend to earn more, not by lowering cost of living. That means I recommend coming to the Bay Area. It also helps on career growth.
Singapore is a good start too, the visa does not need lottery (called Employment Pass), and India culture and food is great there!
Wouldn't recommend Singapore. Hard to get PR for techie desis and it's more expensive than Bay area.
Can try cananda. much easier than USA to get work authorization but you'll earn less than USA salary
Can you give us an idea of how much you might need to "send back to India" every month? Also, are you a software engineer? As a general rule: Bay area job will let you send back 3000 USD per month if you live unmarried/single and frugally. Also, you should be ready to get thrown out every couple of years, not expect promotions, not plan to "switch" jobs anytime.
Yes, I am software Engineer. I am not aware what will be my savings. So i would want to send as much as I save. Also I want to save at least 20 to 30 lacs in 5 years, not sure if it is achievable.
You can save this much in a year itself in US 👍 You should target for 1cr in 5 yrs