Wages have leapgrogged beginning 2001. An average starting salary for a good English speaking college graduate in Bombay would be in the region of 2,40,000 per annum, approx. $5,000 & then he would work his way up from there. Starting wages in Call Centers / IT industry are slightly higher at around 3,00,000 p.a. but if you are good, in 5 years time, you could easily be earning between 8,00,000 - 12,00,000 p.a. This is for Bombay & for the big cities so other smaller towns would pay 30-40% less but then cost of living would be low as well.
Your friend in IBM Global would probably not make as much if were working for IBM India. 60,000 USD is a lot of money in India & is paid to higher management with 10 years work experience & a management / other specialized degree. Yes, the constabulary gets around Rs.8000 per month while Inspectors get a starting pay of 11,000 onwards. Pathetically low by any standards & some people say, responsible for the corruption in the department. Also Bombay police is 35,000 strong yet short staffed & work min. of 10-12 hrs a day with 1 weekly off. Enough to drive anyone insane.
In India for a family of 4 you need around 15,000-25,000 Rupees per month depending on where you live. Although small, this sum is sufficient for a decent life as Indians generally speaking, are not lavish spenders. Most live a simple life & there is no culture of credit card usage though its maybe changing in the metros but again debt is frowned upon in India as a way of life. Indians are also very good at saving & like to get a good bargain, hence, tourists must never pay the first price that shop keepers tell them 😉 Also, in India you have a maket for all classes. You will find a apir of jeans for 1200 Rupees & also for 100 Rupees! Meals are available for anywhere between Rs.15 - Rs.350 per head in restaurants. So depending on your budget, you can get what you want.
The only really expensive item is real estate & esp. true for the big cities. In fact, we met a tourist in 2007 from Germany, when we were visiting Jodhpur & she wouldnt believe that office space in Bombay's CBD, Nariman Point was the 3rd most expensive in the world with rentals even as high as Rs.500 per square foot. Now the rates have dropped. So Bombay is only the 6th most expensive! 😉 In fact it might interest Millie to know thats the main reason for slums to spring up & an average slum in Mumbai costs Rs,4,00,000 to buy! Even though its illegal thats the price for staying in this city. Those who cant buy, rent. In fact, a good insight into slum life can be gained from the bestseller "Shantaram" written by the ex-con Gregory David Roberts. Even I didnt know a lot of the things mentioned in the book. Wow, I have really gone on & on. Hope this helps.
Reply to this