How is package of 9L for Bengaluru?

[krishnandu.sarkar]

Hi Guys, To tell you the truth, I'm facing a situation where I can't reach to any conclusion. It's being like taking a hard decision for me.

Currently, I'm based in Kolkata and working in an IT MNC Company where my package is around 6.3L which after increment of this year would become atleast 7L. And Kolkata, being my hometown, there's no such room rent expense, which I have to bother about.

Now, I always have dream of moving to Bangalore, ofcourse due to huge career opportunities there. And here's my chance now. I have got a offer from a reputed IT MNC, and they are offering me a package of 9L per annum.

I'll list down some points, where I'm struggling to take proper decision...

1. First and foremost, Room Rent. Any help or tips regarding the same would be very helpful.
2. Transport. Transport cost in Kolkata is very low. My daily Home to Office and Office to Home expense is Rs. 100/- by AC Bus and Rs. 30/- by Non AC Bus.
3. Food. To tell you the truth, I'm not much aware of this. As I'm the sole bread earner of my family, you can say I contribute 20k monthly to my mom, who takes care of all such issues.

Though, I'm not much of a party and drinking guy, but still there's some more misc. expenses, like going for a outing and having a dinner at some restaurant some times (Very rare) and Internet Bill. Right now I pay 2k for 2 unlimited connections (2Mbps and 512Kbps) as I mostly stream everything over internet instead of downloading and keeping them for future (I don't have that much space too )

And I save a lot for my only hobby, travelling. I travel a lot. And all my savings goes into there.

Well, I'm married and I'm the sole bread earner of my family of 4 (Me, My Wife, Mom and Dad). So if I move to Bangalore, I have to keep sending atleast 20k for them, every month.

So what do you guys think about a package of 9L per annum for this change?

Any tips or help in financial advise portion would be really helpful.

 

[RCuber]

Will you and your wife be moving to Bangalore togeather or will she be joining you at a later point of time?

Which area is the new office at? rates differ based on location. near my office its HST/Koramangala its almost 12-14k for single bedroom home. Let me know about the location, cause if its whitefield then it will be expensive to take home there and also traffic is ****. that whole streach of whitefield to silkboard is a mess.

You can get daily passes for AC volvo busses @ about 140 or monthly its about 3.3K I believe.

Food prices also differ based on location, prime locations the food is expensive. but also cheap food is available. if you or your wife dont know how to cook then its better to hire a cook rather than go our for lunch/dinner. But food in bangalore is great!

I pay about 2.3K for 100 mbit 125Gig ACT connection. other cheaper and good offers are also available.

Whats your experience and which field do you work on ( IIRC .NET dev ) I just want to make sure you are not getting ripped off by your company. pay is really good in Bangalore due to the lifestyle in here. even cab drivers earn like 50K in a month.
43% hike is a good package, but can you ask for a bit more as you are relocating to a different ciity.


Ping me on Google Hangout tomorrow

 

[dashing.sujay]

[MENTION=2132]RCuber[/MENTION] - Don't compare increment in salary to current package rather to the new package in current company after internal increment. That brings the maths at 28.5% which is no where near a figure anybody should consider leaving his or her hometown to relocate to a different place, that too when the destination city is much more costly.

[MENTION=32490]krishnandu.sarkar[/MENTION] - I'll suggest to pitch for even higher increment, at least 10+. That will help you to mitigate the loss you will incur after you leave your home town. If you don't get such increment, then stay where you are. Until and Unless you're missing a golden opportunity, the increment is pity IMHO to leave your home town in your current scenario.

 

[a_k_s_h_a_y]

Where is your new firm located? Everything depends on this. The commute time, expect 1-3 hrs.
If its in an uber area, then rent will be 35k! Or else 20k in other areas for 2bhk in close by places.

And also you need to have friends and good communication, networking and leadership skills to ladder up, you can expect huge pay hike then.

And also having kids is very very expensive.

 

[sujoyp]

As a family man you would definitely bear huge cost on rent part.
since you are based in kolkata you are not paying rent but in banglore for a 2 bhk you will definitely end up paying around 20-30k which is more then your increased salary.
and as you are changing now I can be sure that you may not want to change for next 2 years (its avg) ...so for 2 years you will be in minus rather then plus.
After that if you get something around 12L then you will come at plus.

choice is urs

 

[krishnandu.sarkar]

Will you and your wife be moving to Bangalore togeather or will she be joining you at a later point of time?

Not right now. But yes at later point of time.

Which area is the new office at? rates differ based on location. near my office its HST/Koramangala its almost 12-14k for single bedroom home. Let me know about the location, cause if its whitefield then it will be expensive to take home there and also traffic is ****. that whole streach of whitefield to silkboard is a mess.

Not yet sure. But I believe it'll be in Global Village.

You can get daily passes for AC volvo busses @ about 140 or monthly its about 3.3K I believe.

Food prices also differ based on location, prime locations the food is expensive. but also cheap food is available. if you or your wife dont know how to cook then its better to hire a cook rather than go our for lunch/dinner. But food in bangalore is great!

I pay about 2.3K for 100 mbit 125Gig ACT connection. other cheaper and good offers are also available.

Thanks a lot

Whats your experience and which field do you work on ( IIRC .NET dev ) I just want to make sure you are not getting ripped off by your company. pay is really good in Bangalore due to the lifestyle in here. even cab drivers earn like 50K in a month.
43% hike is a good package, but can you ask for a bit more as you are relocating to a different ciity.


Ping me on Google Hangout tomorrow

.NET Dev with 5.10 Years of Exp.

- - - Updated - - -

[MENTION=2132]RCuber[/MENTION] - Don't compare increment in salary to current package rather to the new package in current company after internal increment. That brings the maths at 28.5% which is no where near a figure anybody should consider leaving his or her hometown to relocate to a different place, that too when the destination city is much more costly.

[MENTION=32490]krishnandu.sarkar[/MENTION] - I'll suggest to pitch for even higher increment, at least 10+. That will help you to mitigate the loss you will incur after you leave your home town. If you don't get such increment, then stay where you are. Until and Unless you're missing a golden opportunity, the increment is pity IMHO to leave your home town in your current scenario.

Thanks, but they won't give more increment. I believe they are offering more than 40% increment. But due to changing in cities it's becoming a tough decision.

- - - Updated - - -

Where is your new firm located? Everything depends on this. The commute time, expect 1-3 hrs.
If its in an uber area, then rent will be 35k! Or else 20k in other areas for 2bhk in close by places.

And also you need to have friends and good communication, networking and leadership skills to ladder up, you can expect huge pay hike then.

And also having kids is very very expensive.

Thanks. I'm still not sure, but looks like my posting will be in Global Village.

Though I'm not 100% sure. It can also be in Cunningham Road, Whitefield, Banergatta Road.

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As a family man you would definitely bear huge cost on rent part.
since you are based in kolkata you are not paying rent but in banglore for a 2 bhk you will definitely end up paying around 20-30k which is more then your increased salary.
and as you are changing now I can be sure that you may not want to change for next 2 years (its avg) ...so for 2 years you will be in minus rather then plus.
After that if you get something around 12L then you will come at plus.

choice is urs

That's my main issue. Even if I choose not to bring them here. I need to send them atleast 20k because I'm the only bread earner of my family.

And that's why this decission is getting tougher for me. If my parents were not dependent on me, I wouldn't have thought for a second and would have accepted this offer.

In that case, I know, hardly I have to struggle for 1 year and then I can switch and can get a better life. But they being dependent on me, I can't make them struggle that to for 1 year.

Whatever position I'm in, I have to send this amount back to them anyhow and by any means every month.

 

[a_k_s_h_a_y]

Global Village, this area is far off from the happening area. Things are pretty cheap that side of town. Its mostly old bangalore over there. Well with IT moving there as well, expect gentrification.

 

[Hrishi]

I don't know much about Bangalore but that's pretty much what a .Net dev with ~5yrs of Exp gets in Delhi - in most IT Service based MNCs. Core companies would pay typically (1.5-2)x more.

 

[krishnandu.sarkar]

Global Village, this area is far off from the happening area. Things are pretty cheap that side of town. Its mostly old bangalore over there. Well with IT moving there as well, expect gentrification.

Okay. What I'm mostly worried about is, after this move if I'm unable to send money back to my family, I'll be in a huge mess

 

[a_k_s_h_a_y]

Okay. What I'm mostly worried about is, after this move if I'm unable to send money back to my family, I'll be in a huge mess

Why don't you move with your parents? And rent out your house in calcutta.
Its not like moving to US, its just India.

 

[krishnandu.sarkar]

Why don't you move with your parents? And rent out your house in calcutta.
Its not like moving to US, its just India.

Can't!! It's a joint family. So we have 2 rooms, and washrooms are common.

 

[Stormbringer]

Hey [MENTION=32490]krishnandu.sarkar[/MENTION] IMO you can manage in Blore with that package.You have 2 options, 1) Stay near office but pay bit higher rent and save money and time on travelling. or 2) Stay at a lower rent place away from your office and spend money and time on transportation. If possible try not to get posted in Whitefield.The travel to/from Whitefield is a nightmare especially during monsoon season and rents are high too.(My cousin and his wife pay 13k for a 1bhk near ITPL). Global Village or Bannerghatta Road office would be better. Even Cunningham road would be better option if you can rent a place near Hebbal. Its less than 10km away. For travel, try to use company provided bus/cab or make BMTC monthly pass.

 

[sujoyp]

sending 20-30k from your around 55-60k on hand will not be a problem ....if you live alone in banglore then max you will pay for PG and food is 15k.

What i was pointing at in my last reply is that the saving will be less then right now...the total money left in your pocket after spending on everything will be less then what you have right now...so the overall is on loss.

 

[krishnandu.sarkar]

sending 20-30k from your around 55-60k on hand will not be a problem ....if you live alone in banglore then max you will pay for PG and food is 15k.

What i was pointing at in my last reply is that the saving will be less then right now...the total money left in your pocket after spending on everything will be less then what you have right now...so the overall is on loss.

Yes, there'll be low or no savings for first year atleast.

But I'm still considering to move just because of huge amount of opportunities there. Kolkata is stagnant in IT. Nothing is going to improve here unless people change their mindset and political issues get resolved.

Also, with all the loss in mind, I get good work culture. Though I'm not sure whether I really want that. Because, I'm also okay with the lazy work culture in Kolkata with more or less no pressure and enjoying my life on my own way by travelling to various places every 2-3 months.

 

[a_k_s_h_a_y]

bangalore has crazy traffic, and also extreme pollution at whitefield, ecospace, silkroad.
bannerghatta road office means you will live in the city, which is sort of a good thing.
and bannerghatta road is highly congested all 7 days a week.

 

[Zangetsu]

Do you know the exact location where u will be moved to work in Bangalore if not you can confirm with the HR.

then once u have the location, you can cross check the COL (cost of living) of that place.

also, u have to plan your expenses accordingly

 

[krishnandu.sarkar]

bangalore has crazy traffic, and also extreme pollution at whitefield, ecospace, silkroad.
bannerghatta road office means you will live in the city, which is sort of a good thing.
and bannerghatta road is highly congested all 7 days a week.

Thanks a lot [MENTION=25969]a_k_s_h_a_y[/MENTION]

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Do you know the exact location where u will be moved to work in Bangalore if not you can confirm with the HR.

then once u have the location, you can cross check the COL (cost of living) of that place.

also, u have to plan your expenses accordingly

Well, it can't be confirmed until I join. As location will depend on project.

But spoke to few known friends there, they all said it'll mostly be Banergatta Road, Whitefield, Bellandur or JP Nagar.

Cunningham Road is out of question. He confirmed.

 

[Zangetsu]

^^Hmm so get the details on all locations and make a list for yourself

is there any variable pay in your salary ?

some companies gives large margin of variable pay from CTC and we end up getting less

 

[krishnandu.sarkar]

^^Hmm so get the details on all locations and make a list for yourself

is there any variable pay in your salary ?

some companies gives large margin of variable pay from CTC and we end up getting less

Yes around 1L is variable pay out of 9L.

And medical and other insurance is not part of 9L.

 

[Lucky_star]

I was working in ITPL Whitefield for 2009-2011. The rent was 8k for the first year, 11k for second and 14k for the third. That's the way most of the landlords charge. Though I was a bachelor and lavish spending was rare, I hardly had any money to save or send back to family. You will get frustrated by the daily traffic problems, pollution, unavailability of clean drinking water (had to buy those big bottles every two days). If you plan to travel to your hometown once every six months or so, that would add to additional expenses- getting leaves, flight or train tickets all will add to the hassle.
Getting a proper house within your budget would also be a problem. If it isn't a furnished one, you need to buy all the stuff from furniture to appliances.
As you have said you are the sole bread-winner, living within the budget might get problematic. From the 9L, you have to spent at least 15k per month or 1.8L towards rent. 50k minimum for food and office commute. If you add shopping, grocery, travels, medical and other miscellaneous expenses, you are left with nothing to save.
There is nothing great to do in Bangalore city during the weekends apart from movies and malls. And it is not the same old cool and serene place that it used to be. Summers are too hot now.
I would suggest to wait for a year and try for better offers above 10L in Kolkata or even bangalore. You might miss your home and the awesome food of WB. I have moved to my native in Trivandrum, and trust me, nothing feels like home

BTW, loved your travelogues. Planning to visit Sikkim sometime this year.