‘Can’t Get 10-Minute Grocery’: Man Turns Down US Job Offer To Live King Size In India; social media react | Today’s news
A social media user posted a unique example of his relative who turned down a job opportunity in the United States. And the reason itself is interesting.
“Relative turns down American opportunity at his own company. Reason – at salary offered he will have to clean himself, eat at home, won’t get 10 minute grocery store, won’t get home massages – here he is single and lives in a king size. Priorities,” wrote the user (now X) on Twitter.
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Social network users responded to the post. However, reactions were mixed.
In which part of the world do you get milk/paper/groceries/maid/cook/iron man/cleaner/teacher/tailor/bank? It’s been almost 10 years since I left the house! India is heaven!” wrote one user.
“When he gets PR in the US, most of the work will be done there by robots. He will regret the decision. Even if he goes there for a few years, it will be worth it. Experiencing different cultures will give you a lot of life-changing things,” wrote another user.
One user simply wrote, “Knowing what you want makes life easier.”
Another user commented: “The cost of living is also high.”
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“Let me tell you that they are all available in the US. ALL of them. He has the option of being single there too. No one will marry or mate you there either!” another user countered.
“It will be poor in terms of PPP (Purchasing Power Parity) so good decision,” another user stated.
Purchasing power parity
Here is a comparison of $100,000 salary in US vs. India using purchasing power parity (PPP). PPP is considered a better measure than the market exchange rate for assessing practicality.
The latest World Bank PPP conversion factor for India is approx ₹20.9 per international dollar. This is significantly different from the market exchange rate that is sitting around ₹95 per dollar.
This report is based on user generated content from social media. LiveMint has not independently verified and does not endorse these claims.
What does $100,000 mean
At the market exchange rate, $100,000 converts to approx ₹95 million. That sure sounds lucrative. But remember that you will spend them in the US. So let’s calculate how much that actually means there.
With the PPP factor ₹20.9, $100,000 equals ₹20,09,000 or thereabouts ₹20 million annually.
A salary of $100,000 in the US has a purchasing power roughly equivalent to earnings ₹20 million annually in India. This is well below the conversion of the market exchange rate around ₹95 million. Everyday goods and services cost much less in India.
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The PPP factor increased sharply between 1990 (around 5.4) and 2010 (around 16). It reflects India’s relative price levels converging somewhat with global levels during this period of rapid growth.
It has since stabilized around 20. That suggests ₹The benchmark of 20,000,000 should remain reasonably stable for short-term comparisons, barring large shifts in inflation.
However, PPP is a broad national average. Costs vary widely between Indian cities. For example, the purchasing power in Mumbai or Bangalore is far different from the purchasing power in smaller cities in India. The same is true for cities in the US.
Taxes differ significantly between the two countries. These changes also have an effect on the comparison with home.
