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Any Early Returnees
Posted: Mon Aug 13, 2007 10:06 pm
by jn_mohit
I came to US for MS and started working here, its been only 5 years that I have been here (including 2 1/2 years MS) but I am planning to R2I soon. I am talking to few compaines and position and offers seem reasonable. I am not into semiconductors and almost all jobs for my interest are in Bangalore.
As you would understand I don't have huge savings et al which would be expected from a person returning from US but I feel this is a good time to return.
I was wondering if there are any other early returnees who are planning to return soon or have retrurned recently. I would like to take their take on it.
Thanks
Any Early Returnees
Posted: Mon Aug 13, 2007 11:47 pm
by CoolDude
Hi Mohit,
You have some company here :emsmiled:
I am graduating this Dec and there is a good chance that I might
R2i next Dec after my OPT.
Reasons being the growth in India and the "at-home" feeling.
I was working in India for companies like Wipro before heading
down for my MS and I think ,the growth in managerial stream is very
good in India for soemone with a US stint and a masters degree.
My concern is the lousy $$ savings that I make next year and the
high real estate prices in India when I R2I.If your spouse works for
the IT sector in India too, then things might not be that bad.
however, I am thinking in all possible directions to come at an
enduring decision.
Any Early Returnees
Posted: Tue Aug 14, 2007 2:00 am
by Desi_by_Nature
#1, #2 Good decision guys!
This is a good time to go back, before your parents pressure you into getting married and then the wife decides that she wants to stay here to escape from her in-laws, and then those potlucks start happening, and then kids happen and finally you really give up the whole idea of going back.
Don't worry about money. You won't save much here in just a few years anyway. On the other hand there's a good chance that you will be stuck in this H1/Green Card crap and your career will suffer too ... meanwhile all your counterparts who stayed back in India are busy getting promoted and getting double digit raises.
My advice, go back ASAP! if you don't have a lot of stuff to pack that's great, otherwise throw out/donate all the junk you've collected in career fairs and pack up everythign in 2 suitcases. Make sure both are under 50 lbs.
The guys who gave the GRE last year and filled up flights to attend univs. in Fall this year to do the same mistake that we all did are already here. So there are plenty of seats available on most flights next week. Book fast! Bon Voyage!
Any Early Returnees
Posted: Tue Aug 14, 2007 3:47 am
by javaj2ee-r2ier
Hi,
I am almost in the same boat. I came here to do my Master's. I came 6 years ago and had the same feeling as yourself. I and my wife are going back.
I have always wanted to go back. However, things are starting to get comfy and hence its tough going back. Its not just about getting settled to those pot lucks etc, the worry is also that we did not earn all those riches to see our next generation through without a struggle... I might have to settle for the WagonR instead of the Honda City that would be expected of a US returnee...
however, I think it is a good time to go back. If I have decided to make a career in India.. i should not be spending too much time in the US... already it is so difficult to know what compensation to ask for. Also, it is a good time to get promoted fast..
And hey.. join a job which will take you more places.. try and get to Australia for projects, europe, dubai..singapore.. 5 years in the US is enough.. let's explore something else and have fun there..while still maintaining a base in India..
Just some random thoughts to give you solace... u r not the only one returning early... go watch 'Chak De India'.. and get motivated..
:)
Any Early Returnees
Posted: Tue Aug 14, 2007 3:58 am
by jn_mohit
Thanks guys and just so that you know I do have a family including my wife and an infant daughter. I had decided to move back a while ago but arrival of our daughter delayed the decision.
The major thing that I dread right now is high real estate prices. I think even if I take loans with such high property rates and high interest rates would I even have a house for me ? Since most of my saving will go in initial settling etc that would be no good. I am not anticipating major moving costs as my company will move me if I decide to go.
The major reason that I think of returning back is freeness to do anything I want to, I often think of starting something of my own which is difficult here. Its also difficult to stay on par with developments in India staying here, with so much going on there I am afraid I might miss another boom.
Any Early Returnees
Posted: Tue Aug 14, 2007 11:15 am
by obiwankanobi
And hey.. join a job which will take you more places.. try and get to Australia for projects, europe, dubai..singapore.. 5 years in the US is enough.. let's explore something else and have fun there..while still maintaining a base in India..
5 years in US, 5 in Australia, 5 in Paris and then suddenly you are 60 and visiting your grandchildren in the USA when you R2Ied. Just thought your post was funny.
I don't have huge savings et al which would be expected from a person returning from US
There are very few people who can say that they have huge savings after staying in the US and the people who probably say that are the people who really haven't made much. If you are in IT then by being in the US you should have only saved marginally more than your counterpart.
go watch 'Chak De India'.. and get motivated..
or watch the real Indian hockey team and get de-motivated.
OB1/
Any Early Returnees
Posted: Tue Aug 14, 2007 12:25 pm
by goVenkat
Hey Mohit
I am in the same boat - Been here 6 years, visited India 7 times already and savings are not very impressive...naturally :-)
My wife and I are expecting our first child in few months and we are gearing to R2I in 1st quarter of CY08.
It is going to be busy times ahead :-)
Cheers and good luck.
[Venkat]
Any Early Returnees
Posted: Tue Aug 14, 2007 12:36 pm
by VWbuggy78
You may be amazed at how much you save in India with traditional Indian lifestyle. Some of our employees who make $15 -20k per year manage to save $500 - $1200 a month after tax. May be because they share housing with roommates or live with parents now. We provide food on premises - so their out of pocket expenses are very minimal.
This is more than what I saved when I was their age (in early to mid 20s).
At $1k per month, you will save $80k+ in five years - even assuming 12% interest rate (a shade above fixed deposit rates)- enough to pay for a hefty downpayment.
In my estimate, you have to make $75k+ in Silicon Valley to have $1k per month in savings (excluding stock options)
Any Early Returnees
Posted: Tue Aug 14, 2007 5:41 pm
by jn_mohit
I think you are too conservative in your calculation of savings in US. Right now I save more than $1K/month and I don't even earn $75K/annum. I am in boston which is equally costly and payscale is almost same as Silicon Valley.
So if I convert my savings to rupees, I feel I do end up saving more than my friends in India. But at the same time the way the salaries are rising in India and the cost of living not rising that fast I feel they would start saving almost same as I do soon.
Any Early Returnees
Posted: Tue Aug 14, 2007 6:14 pm
by partha
jn_mohit;39238I think you are too conservative in your calculation of savings in US. Right now I save more than $1K/month and I don't even earn $75K/annum. I am in boston which is equally costly and payscale is almost same as Silicon Valley.
So if I convert my savings to rupees, I feel I do end up saving more than my friends in India. But at the same time the way the salaries are rising in India and the cost of living not rising that fast I feel they would start saving almost same as I do soon.[/quote]
AFAIK, salaries in India are increasing, but the cost of living is rising equally fast. However, people find ways to earn more and spend less. It is not true that cost of living is not rising in India. You can check this in any big city like Bangalore, Mumbai, Pune etc. Everything is at an inflated rate - not just real estate.
I am not saying you should or should not return. IMHO, if you are considering only money/savings to make a decision about returning, then I think it is better to return. You may not save too much (of course the definition of too much differs from person to person) because of exchange rates. I believe that the people who were here in the US somewhere between 1998 to 2006 were the ones who got the best out of difference in $ Vs Re (again depending on their saving potential). The same era may or may not return in the future (at least NOT in the near future).