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ISHAN TOPRE
ISHAN TOPRE • May 4, 2012

GRE Salary! I Am Surprised

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?
bioramani sir?
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 TOPRE • 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?
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.
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 TOPRE • 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 • 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 • May 4, 2012
bharathi shekar
thanks alot sir.....
ll b waiting for ur msg...😀
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 TOPRE • 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
Kaustubh Katdare • 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.
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 TOPRE • May 4, 2012
bioramani
Right you are , as usual!
Sorry, we posted at the same moment ☕
ISHAN TOPRE
ISHAN TOPRE • 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 ABCD • 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 Ajinkya • May 4, 2012
In marathi, we have a saying - Lanket sonachya vita 😀 ... that should explain PPP or the Mac Index!
zaveri
zaveri • 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.

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