GRE Salary! I Am Surprised

@ishan-nohePN • Oct 23, 2024

Oct 23, 2024

1.1K

GRE always confused me. Recently, I met a friend who is all set to go to USA. Until now, he was just an ordinary engineer, passed out just last year.

When I enquired him about his job prospects after studying, he replied, " Oh, I can easily get 5000-6000 US$. (That is about INR 250,000-300,000).

Me, " Annually?"
He smiled back, "Nope Monthly".

And I was like "😨"

So CEans what is your take on this issue?
#-Link-Snipped-# sir?

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Ramani Aswath

@ramani-VR4O43 • May 4, 2012

The purchasing power of USD can be taken as about Rs.8/dollar. $6000/mo in US will work out to about Rs. 50, 000/mo in India. Nothing great.
ISHAN TOPRE

@ishan-nohePN • May 4, 2012

bioramani
The purchasing power of USD can be taken as about Rs.8/dollar. $6000/mo in US will work out to about Rs. 50, 000/mo in India. Nothing great.
Then why is it 1USD = INR 50? What is the hidden fact that I am missing in this maths?
Ramani Aswath

@ramani-VR4O43 • May 4, 2012

The equation is like this. The purchasing power of US$1 = Rs.8 to 10. So a salary of US$6000 becomes Rs.50,000 to 60,000. Nothing fantastic. Just sit back and enjoy India that is Bharat.
Ramani Aswath

@ramani-VR4O43 • May 4, 2012

bharathi shekar
hello sir..m an cs student...m in 2nd year...studying in sjce college mysore i think u might b knowing..i know c,c++,sql..can i get internships in any company??if not how i make my sem holidays usefull
You can contact Mr.Anand Madanagopal. He is a start up entrepreneur trying you to make mobile health devices.
Unfortunately we cannot post email IDs in responses as it leads to spamming. I shall try to send you a message with contact details.
ISHAN TOPRE

@ishan-nohePN • May 4, 2012

bioramani
The equation is like this. The purchasing power of US$1 = Rs.8 to 10. So a salary of US$6000 becomes Rs.50,000 to 60,000. Nothing fantastic. Just sit back and enjoy India that is Bharat.
No sir, I get it that the salary will be just ~50K. But when we see the market, they say

1USD is now INR 50.43, Rupee weakens by 43 Paise
How do we infer it? This is of course just out of curiosity.
bharathi shekar

@bharathi-shekar-gRailB • May 4, 2012

bioramani
You can contact Mr.Anand Madanagopal. He is a start up entrepreneur trying you to make mobile health devices.
Unfortunately we cannot post email IDs in responses as it leads to spamming. I shall try to send you a message with contact details.
thanks alot sir.....
bharathi shekar

@bharathi-shekar-gRailB • May 4, 2012

bharathi shekar
thanks alot sir.....
ll b waiting for ur msg...😀
Ramani Aswath

@ramani-VR4O43 • May 4, 2012

Issue
No sir, I get it that the salary will be just ~50K. But when we see the market, they say How do we infer it? This is of course just out of curiosity.
What I am talking about is day to day living expenses like going to a movie, eating out and things like that.
What you quote is the currency equivalent.
ISHAN TOPRE

@ishan-nohePN • May 4, 2012

aha I got it. When one is in America, he will be earning in US, and also spending in US. So, you are referring to "Purchasing power".

If he/ she comes to India will all his money, that time the international currency rate will be applicable.
Kaustubh Katdare

@thebigk • May 4, 2012

$4k-$6k is perfectly okay and not at all 'TOO MUCH'. There's no point in converting dollars into rupees unless you are earning dollars and spending in rupees. One dollar fetches you 53 Indian Rupees and that's the reason IT salaries in India are 'above average'. It's still a huge cost saving for the companies outsourcing jobs to India.

Don't fall in the trap of converting dollars into rupees to get a sense of richness.
Ramani Aswath

@ramani-VR4O43 • May 4, 2012

Issue
aha I got it. When one is in America, he will be earning in US, and also spending in US. So, you are referring to "Purchasing power".

If he/ she comes to India will all his money, that time the international currency rate will be applicable.
Right you are , as usual!
ISHAN TOPRE

@ishan-nohePN • May 4, 2012

bioramani
Right you are , as usual!
Sorry, we posted at the same moment ☕
ISHAN TOPRE

@ishan-nohePN • May 4, 2012

The_Big_K
$4k-$6k is perfectly okay and not at all 'TOO MUCH'. There's no point in converting dollars into rupees unless you are earning dollars and spending in rupees. One dollar fetches you 53 Indian Rupees and that's the reason IT salaries in India are 'above average'. It's still a huge cost saving for the companies outsourcing jobs to India.

Don't fall in the trap of converting dollars into rupees to get a sense of richness.
Well, people do show off. And poor me got confused. Do not want to comment on IT sector.
ABCD ABCD

@abcd-2NEyMb • May 4, 2012

Its not always the matter of money. Leaving the beautiful country for years would make you miss very much in life. As said above, you spend as you earn. So you earn in dollars, spend in dollars. Similarly, in India, you earn in rupees and spend in rupees. I mean, they are proportional, an equal proportion of the salary is spent for daily expenses.
Prasad Ajinkya

@prasad-aSUfhP • May 4, 2012

In marathi, we have a saying - Lanket sonachya vita 😀 ... that should explain PPP or the Mac Index!
zaveri

@zaveri-5TD6Sk • May 18, 2012

mreccentric
Its not always the matter of money. Leaving the beautiful country for years would make you miss very much in life. As said above, you spend as you earn. So you earn in dollars, spend in dollars. Similarly, in India, you earn in rupees and spend in rupees. I mean, they are proportional, an equal proportion of the salary is spent for daily expenses.
i don't agree to that. as far as politics and other things are concerned, india is not that beautifull, and besides you get paid only 1/12th of what you would get abroad and on top of that you have to slog here 24x6x365 days a year.