{"id":1290,"date":"2017-01-16T09:59:48","date_gmt":"2017-01-16T04:29:48","guid":{"rendered":"https:\/\/abhinavkr.com\/musings\/?p=1290"},"modified":"2017-12-11T18:39:44","modified_gmt":"2017-12-11T13:09:44","slug":"how-do-iitians-get-a-package-of-almost-1-crore-2","status":"publish","type":"post","link":"https:\/\/abhinavkr.com\/musings\/2017\/01\/how-do-iitians-get-a-package-of-almost-1-crore-2\/","title":{"rendered":"How do IITians get a package of almost 1 crore?"},"content":{"rendered":"<p><span class=\"rendered_qtext\">How do IITians get a package of almost 1 crore? by Aman Goel<\/span><\/p>\n<p>Answer by Aman Goel:<\/p>\n<blockquote>\n<p class=\"qtext_para\"><b>They don\u2019t.<\/b><\/p>\n<ol>\n<li>The Facebook package you\u2019ve heard of includes 4 years of stocks that are \u2018one time\u2019<\/li>\n<li>The base packages are low. In the range of 60\u201390 lakhs per annum<\/li>\n<li>The purchasing power parity is way different in India. If you are saving all of the money and sending back to India, then the story is different. However, this isn\u2019t generally the case. For instance, a pizza in the US costs around $20. That\u2019d be about Rs. 1,350. With Rs. 500 or so, you will get the best pizza in India. The $20 pizza in US will be just okayish. Typically, the real value of $1 is Rs 30. So, the $20 pizza above will cost Rs. 600 in India.<\/li>\n<li>Tax rates are high. In the US for instance, you need to pay 35% on your salary in California. If you are in San Francisco city, then you got to pay 5% additional city tax.<\/li>\n<\/ol>\n<p class=\"qtext_para\">Some edits based on feedback from comments:<\/p>\n<ul>\n<li>60\u201390 lakhs <b>IS<\/b> low. 60\u201390 lakhs is <b>NOT<\/b> 60\u201390 lakhs. It is $100k &#8211; $120k. Don\u2019t convert the money to INR when you won\u2019t be spending it in INR.<\/li>\n<li>Some have talked about the \u2018real\u2019 value of $1 in INR. I have used a value of Rs. 30 for $1. Some have suggested that the value is actually Rs. 15. That in fact makes matters worse because that means, Rs. 500 pizza will not cost $20, but will cost $30+. That\u2019s expensive man!<\/li>\n<li>There is a big opportunity cost of staying away from family. This holds particularly for Indians because we Indians tend to have a collectivistic society. This certainly won\u2019t count in the \u2018package\u2019, but it does count overall.<\/li>\n<li>Definitely the work life and the amount of cutting edge research going on is more in the US. But that won\u2019t mean that nothing is going on in India.<\/li>\n<\/ul>\n<p class=\"qtext_para\">Overall, there are pros and there are cons. An advantage factor for someone might be a disadvantage factor for someone else. Make your own call \ud83d\ude42<\/p>\n<p class=\"qtext_para\">Finally, if it adds credibility to the answer, then I would like to mention that it isn\u2019t the case that grapes are sour for me and that is why I am writing this answer. I am one of those who has a 1+ crore package in my hand. <b>I am writing this just to enlighten people who are obsessed with \u20181 cr\u2019.<\/b><\/p>\n<\/blockquote>\n<p><span class=\"qlink_container\"><a href=\"https:\/\/www.quora.com\/How-do-IITians-get-a-package-of-almost-1-crore\/answer\/Aman-Goel-9\" class=\"broken_link\">How do IITians get a package of almost 1 crore?<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How do IITians get a package of almost 1 crore? by Aman Goel Answer by Aman Goel: They don\u2019t. The Facebook package you\u2019ve heard of includes 4 years of stocks that are \u2018one time\u2019 The base packages are low. In the range of 60\u201390 lakhs per annum The purchasing power parity is way different in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,11],"tags":[],"class_list":["post-1290","post","type-post","status-publish","format-standard","hentry","category-knowledge","category-quora-post"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4KGvB-kO","jetpack-related-posts":[{"id":693,"url":"https:\/\/abhinavkr.com\/musings\/2015\/02\/which-are-some-of-the-best-school-campuses-in-india\/","url_meta":{"origin":1290,"position":0},"title":"Which are some of the best school campuses in India?","author":"Abhinav","date":"February 13, 2015","format":false,"excerpt":"Read Abhinav Kumar's answer to Which are some of the best school campuses in India? on Quora","rel":"","context":"In &quot;Quora Post&quot;","block_context":{"text":"Quora Post","link":"https:\/\/abhinavkr.com\/musings\/category\/quora-post\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/abhinavkr.com\/musings\/wp-content\/uploads\/2014\/06\/333688_2648214407777_1328212241_32212794_430712197_o.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/abhinavkr.com\/musings\/wp-content\/uploads\/2014\/06\/333688_2648214407777_1328212241_32212794_430712197_o.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/abhinavkr.com\/musings\/wp-content\/uploads\/2014\/06\/333688_2648214407777_1328212241_32212794_430712197_o.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/abhinavkr.com\/musings\/wp-content\/uploads\/2014\/06\/333688_2648214407777_1328212241_32212794_430712197_o.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/abhinavkr.com\/musings\/wp-content\/uploads\/2014\/06\/333688_2648214407777_1328212241_32212794_430712197_o.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":654,"url":"https:\/\/abhinavkr.com\/musings\/2014\/11\/my-friends-have-girlfriends-i-never-had-and-feel-depressed-about-it-what-to-do\/","url_meta":{"origin":1290,"position":1},"title":"My Friends have girlfriends. I never had and feel depressed about it. What to do?","author":"Abhinav","date":"November 12, 2014","format":false,"excerpt":"Answer by Nabarun Mondal: Right now I am solving a problem of how to automatically generate a graph from a bunch of processes. This is Friday weekend and my entertainment is to study the History of North East India, and then General Relativity. NO, I am not a \"student\", and\u2026","rel":"","context":"In &quot;Motivate&quot;","block_context":{"text":"Motivate","link":"https:\/\/abhinavkr.com\/musings\/category\/motivate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":371,"url":"https:\/\/abhinavkr.com\/musings\/2014\/02\/six-word-stories\/","url_meta":{"origin":1290,"position":2},"title":"Six word stories","author":"Abhinav","date":"February 27, 2014","format":false,"excerpt":"A series of satire on India Female foeticide:\u00a0It's a girl? We'll try again. Eve-teasing:\u00a0Hear snide remark? Ignore. Keep walking. Rape:\u00a0Raped. Body recovered. Soul scarred forever. Rape:\u00a0\"Call them brothers\" -(Un)holy Indian saint Indian Education System:\u00a0Mug it up. Don't ask why. Indian politicians on Indian soldiers' death:Soldiers died? That's what they do.\u2026","rel":"","context":"In &quot;Knowledge&quot;","block_context":{"text":"Knowledge","link":"https:\/\/abhinavkr.com\/musings\/category\/knowledge\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1199,"url":"https:\/\/abhinavkr.com\/musings\/2016\/10\/what-rights-do-i-have-if-i-have-been-arrested-by-the-police-in-india\/","url_meta":{"origin":1290,"position":3},"title":"What rights do I have if I have been arrested by the police in India?","author":"Abhinav","date":"October 23, 2016","format":false,"excerpt":"What rights do I have if I have been arrested by the police in India? by Tejasvita ApteAnswer by Tejasvita Apte:The first thing you need to know is -Every person who is arrested is supposed to be taken before the nearest magistrate within 24 hours of the arrest. (Time taken\u2026","rel":"","context":"In &quot;Knowledge&quot;","block_context":{"text":"Knowledge","link":"https:\/\/abhinavkr.com\/musings\/category\/knowledge\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144,"url":"https:\/\/abhinavkr.com\/musings\/2013\/12\/motivational-video\/","url_meta":{"origin":1290,"position":4},"title":"Motivational video","author":"Abhinav","date":"December 28, 2013","format":false,"excerpt":"Motivational video with great music","rel":"","context":"In &quot;Motivate&quot;","block_context":{"text":"Motivate","link":"https:\/\/abhinavkr.com\/musings\/category\/motivate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":967,"url":"https:\/\/abhinavkr.com\/musings\/2016\/07\/what-is-the-latest-fad-among-the-youth-of-india\/","url_meta":{"origin":1290,"position":5},"title":"What is the latest fad among the youth of India?","author":"Abhinav","date":"July 25, 2016","format":false,"excerpt":"What is the latest fad among the youth of India? by @iAmoghAnswer by Amogh Talpallikar:Let me take this opportunity to highlight a trend that I have observed on social media among young Indian IT \u201cprofessionals\u201d.They grow up having not explored nooks and corners of their heart to find out what\u2026","rel":"","context":"In &quot;Fun Stuff&quot;","block_context":{"text":"Fun Stuff","link":"https:\/\/abhinavkr.com\/musings\/category\/fun-stuff\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/posts\/1290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/comments?post=1290"}],"version-history":[{"count":2,"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/posts\/1290\/revisions"}],"predecessor-version":[{"id":1430,"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/posts\/1290\/revisions\/1430"}],"wp:attachment":[{"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/media?parent=1290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/categories?post=1290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abhinavkr.com\/musings\/wp-json\/wp\/v2\/tags?post=1290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}