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Hi All, Please help in deciding. Having 6.2 years of experience. Current CTC as 14.11 LpA( 12 Fixed +2VP).
1st Offer : Adani Group Associate manager in business Analytics. Offered: 27 LPA( 22.5 fixed + 2.5VP+ 2 JB) 2nd Offer : EY GDS Senior Consultant 1 Offered: 21.45 LPA( 19.5 fixed + 1.95 VP) Infosys, EY , EY GDS, Adani Group
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Pump your brakes right there - a lot of people posting these enormous TCs are either A) Embellishing and “rounding up” A LOT or B) Actually earn that but you have to remember the more you earn (relatively to your age group) the more likely you are to post about it, so youre seeing a very curated view.
That being said, US salaries are nearly 75 - 100% higher in consulting relative to EU peers. Comparing your EU salary with the US is a losing game and tells you nothing about how youre doing relative to your own background (which should always be your first point of reference)
TAM I had a different experience and found europe much less expensive. Just moved back to USA to a Midwest college town and expenses are way higher than what it cost me to live in a city like Copenhagen/Amsterdam/Frankfurt. Rent is higher and we went from zero cars to two cars, healthcare is also higher and finally quality groceries for scratch cooking also double. Finally there is much higher orientation toward consumption in USA which also pushes expenses up. So whilst true if you live like an American in Europe it might be similar cost but I found one lives much simpler as there isn’t the strong cultural bias toward high consumption.
Don't compare your European salary to an American salary. It doesn't make sense. You've got a lot of public services for free, you can't be fired for no reason all of a sudden, and so on. Your salary is already quite high for Europe, and your percentages are great. That's all you need to know. Also, even if you're German or Swedish and not Spanish or Italian, you're food is most likely not crap.
2k net a month is a great number too. In the US you'd be earning much more, sure. I'd say the US is great for Europeans to spend a few years in their prime and then get back home where life qualify is better, healthcare is better, things are cheaper, etc. But unless you're willing to go to the US, don't even bother comparing.
US salaries are typically going to be much higher, but keep in mind that (depending where you’re coming from in Europe) you can expect to spend significantly more of on it healthcare and other expenses that are likely cheaper or nonexistent where you are, and you’ll have to save a lot of it towards funding your own retirement. Simple numbers don’t tell the whole story.
fair enough, but considering my current lifestyle I am quite down to earth (not buying bottles at the club but going to a restaurant like twice a week). But that's what I am thinking, rents are quite high but food is not much more expensive than it is in europe is it? So I imagine taxes including pension plan and healthcare wont go much past 50%, that would still be 72k/year > 6k/month
- Rent (2k max)
- Groceries (600)
we are left with 3.4k, nearly 2x; sounds pretty solid?
OP, to answer your other questions, cost of living isn’t particularly higher in the US. You’d definitely come out on top in the U.S. making 150-200K with your experience.
- Rent: it’s more in NYC/SF (2.5-4.5K to live alone in a nice but not extravagant place) but very location dependent. It can be 1.5K in many other places
- Healthcare: very expensive if you don’t have employer coverage, but T2/MBB have great coverage. Basically free/insignificant cost for most people. Also the US has much better healthcare, with great insurance. No queues or wait times to see doctors since it’s not socialized. For example, my friend is getting her eggs frozen for free - 100% coverage from her employer + insurance. This is top 1% coverage though from her employer.
- Food: similiar, but cheaper in certain locations
- Gas prices: cheaper
- Taxes: generally lower.
Main downside is much less vacation time and much more intense work culture. Pretty common for people to take little to no time off, especially their first few years of work.
They key word here is having great insurance. If you don’t, healthcare here is indeed expensive.
Current Situation: I have a ETF Portfolio worth ~10k, very diversified, currently down single digits but expected to perform well in the upcoming months.
I have around 10k in my regular savings account (as a buffer) and ~3k in my checkings.
Europe is better if you are at the bottom 25% because you are subsidised heavily. It’s not a great system for hard workers or top achievers.
Is moving to Switzerland or the US an option?
I see, don’t know if it’s realistic as a consultant to take mental health days though
I dont know if anyone here has some insights into tax-efficient investing in the DACH area?
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I like that you have done some research, single stocks are much of a risk, it’s almost a gambling unless you’re looking to day trade which is gamble like.
An ASM - Asset Management Fund. And some pools are even up to a Million for entry.
Read”cash flow quadrant” hopefully you can learn a thing or two.