Today we have finalized our move to India. Numerous reasons out of which the main ones are better savings and live life king size And of course closer to family We have combined income of $500k here is states. After tax that comes to $300k out of which our months expenditure for mortgage etc is $180k so effectively we were saving on an average $120 And we were able to get jobs with combined salary of 3+Cr which is around $400k On the other hand, after tax is $250k. We are going to rent for $15k per year, maid, etc would be max 60-70k. Around $180k savings which is 50% more and the maid for cleaning and food and lavish life is another incentive We are very excited. The job is remote for both of us with once office per month is what we negotiated. So we are planning to relocate from bangalore to Chandigarh after about 6months. Save and enjoy more. Please bless us for our journey ahead. Will post more once every few months to share our experiences TC: mentioned Yoe: 16
All the best op.
Damn man. I’m American and would never have thought 400k tc was possible in India. Good for you my man, big congrats! Treat people well, king 👑
What companies are giving you folks 3+ CR .. this is wild and maybe I say on brink of a lie. Unless you ended up as a C suite somehow
Pretty common these days. Good funded startups are offering 70-80 for sr / staff equivalent
That’s still far cry from 3 + CR .. OP has a combined TC of 500 in US which means that they are either mid/ junior at FAANG or at a senior level at no name.
How did you get offers sitting here? That too both of you?
OP is rich and going to be even richer after moving to India.
Just so you know. You may end up paying more tax in India when surcharges are considered. You may have to pay additional 15% - 25% surcharge depending on individual income. Surcharge is on total income unlike US where the slabs are progressive.
Isn’t surcharge on only income above a threshold?
yeah, unlike the US, taxes in India are staggered. Plus, better tax saving options.
Can I do this if I'm white and single? Kinda serious, why not?
You will rock
You will be treated as royalty
I think one big difference is you plan to rent in India versus mortgage here. So please take into account as well.
Rent in India is 🥜. Plus he gets maid and cook. Even more 🥜 That too on $400K TC in India (which we don’t even get in 🇺🇸). He is going to be richer than local corporators without any corruption or wrong doing or stress of failing business idea. I hope his kids integrate well tho, money cannot help that.
Buddy, you are under delusion that corporate dont make that kind of money, they make 10 times more than that
FYI Taxes in India are much higher than in the USA. Also which company is giving 1.5CR+ salary in India?
What are you talking about? The highest income tax rate in India is 30%, and India doesn’t have state income tax. The highest here in the US is 37%. Plus if you are in state like Cali you pay up to 12.3% income tax and then add your SSN and Medicare taxes at 7% each totaling to 14% but they have a income cap. Not sure how you got this info on India having high income taxes than the US.
I think u have no idea about surcharge in India. The tax rate goes up to 40% approx
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Good for you OP. Congratulations.