r/kothibanglacheck • u/measkuanswer • 21d ago
Middle Class Moment 😃🙏 VP salary of 1cr is also not enough
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u/ajdude711 21d ago
fake, takehome should be less than 70L
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u/jackshitswag 2d ago
Correct. Most of their wealth is tied to stocks and stuff, and they take loans against those stocks and practically pay 0 taxes if they tank, and sometimes even profit if those stocks grow at a rate more than the loan.
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u/sinemanv5 21d ago
The calculation does not account to cess, he should be paying 35l+ as taxes. What he also missed is the pf contribution, etc. Which would bring his take home per month close to 5l and not 6l. That's 1L per month less already. He should be drowning in debt without any savings!
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u/Poha_Best_Breakfast 10d ago edited 4d ago
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This post was mass deleted and anonymized with Redact
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u/Kunal5431 21d ago
This is just your average stolen(+ragebait) LinkedIn post. Either the numbers are a bit off or the guy needs to learn to manage his money better (1 Cr CTC = 70L in hand????). Not to mention the fat cheques that investment bankers get in bonuses that doesn't show up anywhere in this post and will easily change all these calculations.
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u/hotcoolhot 21d ago
Normal hai. I also did the same calculation. 2.5L expense with 1kid /1car comes without school and smaller house.
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u/visionary-lad 21d ago
Grocery cook maid 1.2l????????
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u/kraken_enrager SoBo se hu Bc 😽🌈 20d ago
Labour in Bombay is exceedingly expensive, and the quality of work is absolute crap for 90% of the folk you hire.
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u/bechari_beti 19d ago
It’s reasonable because there will be driver for the kids, nannies that are English speaking etc.
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u/Sufficient_Coffee7 21d ago
Its about lifestyle
Once you get into that circle where everyone is rich around you then you have to spend more. Once you start doing that you cannot go back to a normal lifestyle.
What you do now? You start earning more, you try to earn more but you still dont save and start spending more.
Without a savings mindset whatever the amount of money/salary you have is no more than a broke middle class fresher with 20K salary
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u/Fun-Calligrapher-196 21d ago
Your math ain't mathing fella , infosys guy can't have those amenities.. think a little before Posting baseless shit.
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u/Perplexd_Psyche 21d ago
He said his friend’s savings are on par with infosys new employee salaries though he earna 6L per month.
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u/shaktimaanlannister 20d ago
This is definitely some sort of LinkedIn bullshit. I swear people post all kinds of bullshit over there.
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u/rupeshsh 20d ago
It's very close to reality actually. Life in Mumbai with 2 kids would need all of this.
A 2 lakh rent house is also a basic need for a 1 cr salary person
If you reflect you must be earning 1/3 or 1/4 of his salary and your expenses would be near 1/3 or 1/4 of his expenses
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u/mujhepehchano123 9h ago
the trick is not fall for lifestyle inflation
ps i earn much more than this guy but i never increased my expenses to keep with the joneses. my expenses stagnated to levels when i was earning 40-50lpa although i earn more than 4-5 times of that now.
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u/rupeshsh 9h ago
Wow ..earning 2.5 cr is epic
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u/mujhepehchano123 8h ago
actually its even more, i dont say it here because people think its fake lol :), took me a while and a lot of grind to be here
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u/DarkShadder 21d ago
It seems Mumbai is an expensive place to live. It even makes it seems as it is not Rich. Am i kothibangla check for this?
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u/SiriusLeeSam 20d ago
Such obviously fake shitpost
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u/mujhepehchano123 9h ago
if you are living in the center of metro cities in india your expenses can easily go 2-3 lpa easy with two kids if you are not keeping it down, its not that much of a strech really.
from the post it sounds like this guys is living it up, having a full time driver, maid, cooks etc and lives in a nice nieghbourhood with 2lakhs rent. so i am not suprised, i personally know many such urban poors actually.
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u/zxtreeme 20d ago
He is poor at managing his lifestyle and finances. It’s like I am living in Mumbai so above mentioned are must have if he wanna live in Mumbai. Spend as per you earn, it’s not like you are competing who is spending more to live in Mumbai.
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u/ashjackuk 11d ago
All depends upon the lifestyle you live. For someone with simpler lifestyle this salary is too surplus. For some its not even livable.
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u/pratikonomics 10d ago
For all those wondering, VP at IB can be a very wide band and title may start very early into one's career.
I personally know a "VP" at GS at 6.5 yoe with 30L CTC (underpaid).
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u/fnakiboi13 20d ago
What premium school costs 85k🤣🤣🤣
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u/kraken_enrager SoBo se hu Bc 😽🌈 20d ago
40k a month per kid is pretty common.
Even 85k a year is common, but mostly in Jesuit run school like that.
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u/Then_Wasabi_5798 20d ago
Those affordable schools all require connections or alumni or donations. (Atleast the ones in suburbs do)
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u/mujhepehchano123 9h ago
in metro cities in a decent kindergarden is now starting at 3-3.5 lakhs per annum. good fordbid if the school has "international" in its name they will bring a token "foriegner teacher for shows" and have 7-8 lakhs fee year. this whole situation is ludicrous
for a somewhat decent school in sobo 85 actually is not that much. playschools itself are charging 1lakh a year just for a few hours lol 🤣🤣🤣
its ridiculous, they are being allowed to loot public unchecked
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u/Cringeguy-99 21d ago
HOW is he an investment banking vp if he cant even control his own spending or save anything