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ZippyCupcake
ZippyCupcake
TCS

Help me plan my options

I make 50k now @chennai, got a Bangalore offer for 13LPA, got another one here for 10.5LPA. I need to pay 40k for my home, but I don't pay rent here. While I really want to move to Bangalore, I'm wondering if 13LPA is enough for my monthly 40k + rent + food + other day to day stuff. I know it's vague but I'm just want to know if I can or should I keep pushing for an higher package

I'm new here, lmk of there a grapevine post "tax"

10mo ago
Find out if you are being paid fairly.Download Grapevine
SillyDonut
SillyDonut
TCS10mo

Yes...there will be gv tax :)

Switch to Bengaluru as u can get better offer further here.

U can save 20k even after all expenses and 49k at home 🏠

ZippyCupcake
ZippyCupcake
TCS10mo

I see, you're at TCS too. Assuming you are based in Bangalore can I ask your package and monthly in-hand salary?

SillyDonut
SillyDonut
TCS10mo

It's around 2.3 lpm with CTC somewhat north of 30lpa

SqueakyMuffin
SqueakyMuffin
Zomato10mo

You're making 6lpa and you (hopefully) don't pay any tax. A lot will change. 13lpa is going to be going to be like 11.75lpa in hand, or say 90k+ per month.

Bangalore is expensive. Nevertheless the growth in income is high, and if you're ready to save a bit (major chunk being in PG) then it'll help a lot.

If you get a PG near office then general expenses are going to be like 25-30k a month to live pretty comfortably.

In Chennai 10.5lpa will get you 80k per month in hand. It's a much better deal to be honest, however you see it.

Sadly enough your negotiating power completely depends on your current salary and competing offers, not on the skillset you bring to the table.

You're better off getting more experience while working in Chennai and then make a leap when you get a 20LPA+ offer, move to Bangalore, and join the TC maximization club.

ZippyCupcake
ZippyCupcake
TCS10mo

That's true, but my "package" rn is 8.1LPA, TCS got their way of paying less with an higher package lol. Thanks I'll sit tight for a while here, one thing that got me scared is if 13LPA is going to be like TCS's 13LPA, or like you say. Eitherway from other comments I gather 30~40k rent + my 40k, puts me at a disadvantage.

SqueakyMuffin
SqueakyMuffin
Zomato10mo

That's all in your offer letter. I've always calculated my monthly in hand to the correct paisa. It's basic calculations, you don't even need Excel. I choose old regime with multiple deductions.

With the new regime it's even easier.
You can either share your breakup here, or try this:

Your salary equals: Base salary (a) HRA (b) LTA (c) PF/Gratuity (d) Other allowances (e)

K = A + B + C - D + E Minis 50k standard deduction Minus any other deduction
Minus tax per slab rate Divide by 12

TwirlyJellybean
TwirlyJellybean
Deloitte10mo

Better to stay in Chennai for 10.5LPA. Peace of mind,assuming minimum 10k rent for pg and additional spending of 5k for food and travelling your 1.8L is gone. Also please check tax aspect.

CosmicLlama
CosmicLlama
Stealth10mo

Look at free cash flow at the end of the month. Look at the living expenses that you incur now. Maken it twice.
If you have to pay the 40k + rent . Then you make no sense to come to blr. You won't be left with any money at the end of month or your savings will be so less to add any value

PerkyNoodle
PerkyNoodle
Gojek10mo

I started working in Bangalore with 8 LPA salary, monthly 58k. I stayed in a PG - 2 sharing and was able to manage decently. However, I wanted to rent an apartment and live alone but I couldn't find any for my salary. Bangalore is way more expensive than Chennai. Prices have gone up a lot.

Still you can live comfortably with 60k per month salary but you will have to cough up 30-40k just for rent if you want to live in apartments. If you're willing to share you can maybe save a little. It just depends on how much you're willing to save and spend.

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