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Hey Guys,
I got a call from Infosys HR on 16-September-2022 that I have been successfully selected for the job position of Test Analyst at Infosys, as per our conversation I have to receive an offer letter within 15 days, but I haven’t received it till now.
Now They have sent a mail that your Candidature is on hold. Is this happened with anyone else also.
Please do suggest on this guys.
Infosys
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11 heart 💜 please
Additional Posts in The Real Estate Bowl
Any Property Management recs in Seattle area? :(
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What’s your current rent payment? Is this monthly similar to what you’ve paid before?
If you’re unsure, run through your finances, what do you get deposited in your bank account (post tax, 401k, HSA, etc.). Then go through what you’re spending vs saving, can you make it work with $4k less for the foreseeable future, will it force you to change your spend patters (say dining or entertainment or travel)? If so, are you willing to commit to that?
With that income you should have no problem making that payment
Yeah not sure what you are concerned about exactly. Your payments are very reasonable/low compared to your HHI.
I would love $4k a month. Mine will be around 6k on 210k yearly
$4500/mo all in on $230k HHI (another 40% annual bonus ~$60k gross). Still able to put away 15% to retirement + $2k cash per month Into HYSA. Stretch for sure but great area and spouse and I are 28 years old and no kids. Just saying… it’s doable. Everything is on your own personal comfort level
Based on the numbers I am looking for a gut check? I feel like we are in over our heads and will be house poor.
12k net with 4k mortgage is doable but I can see that being a stretch in some scenarios.
Daycare for two kids: 2k
Groceries: 1k
Home maintenance: $500
Utilities (water, sewer, gas, electric, internet): $500
Shopping (mostly essential stuff not discretionary): 500
Retirement: 1k
That leaves you 2.5k. So yeah this is sort of a first world problem, but that could easily be spent in fairly acceptable discretionary spending, college fund, a family vacation for the year. So yeah he’s not hurting but he could feel stretched to provide a lifestyle for his family that he feels a 300k salary should afford him. A goal that feels like it should be attainable given the salary but the math says is just out of reach.
If the kids are in private school you’ve burned that 2.5k entirely. I get that’s a choice, but it’s a serious one for the kids. Not like the person is choosing between what wine he wants to pour into his decanter every night.
Add any risks to the equation (family issues or health) and you’re on the edge.
I bought a house at that approx price on much less HHI. You’re good.
I bought a house that’s cost $150k more with 10% down and had just under $100k less HHI for our first home.
Was not able to really save above and beyond what we were previously doing but we were on the younger side and felt comfortable with that decision at the time.
Subject Expert
What’s your question?
Who knows? Lol we don't know your other expenses and other factors. But if you're not comfortable making this calculation on your own, no offense, but I question your career fit and you probably shouldn't be buying a home.
This is honestly a really easy thing to figure out. You take your income minus your expenses - committed, planned, and budget for unplanned. Factor in other risks. If you're uncomfortable with what is leftover or cannot manage the risk, then it's a bad idea.
not to mention the industry will dry up when they patch up carried interest lol
Every first time home buyer has these worries. But if you don’t jump in when you can, you will forever be chasing prices as they increase. You have to get in the game. Real estate prices will almost always outpace your ability to afford your first home.
Subject Expert
You are totally fine.
I pay all in $2,600/month on a $200,000 salary and feel completely comfortable. I’m also currently renting for $1,400/month while renovations are being done, and I still feel completely comfortable, though I’ll be happy when that part goes away.
My SO and I made around 320k combined last year. We would definitely do a $3900 monthly payment for the right house. Everyone’s financial situations and other financial obligations are so different only you know if you guys are comfortable or not.
So things to think about.
1. Owning vs renting it takes 5-7 years to break even Vs renting. Are you going to be there 7 years.
2. Do you have a spouse or roommates that will help pay for it.
3. Think about repairs. Houses have a lot of them all the time. It is always some shit.
Hope that helps.
I’m single make 200k and my house is 780k and I only put down 5% but I got a 2.99% interest. My mortgage is $4200. I maximize my 401k and drive an expensive car. I’m doing more than ok.
Mentor
Agree seems high if you want to be able to have a high savings rate too.
It’s 25%-30% of your likely take home pay after taxes, 401k,etc, so you make plenty to support this payment. Plus, if rates go back down, you can refinance for a lower monthly payment
50/30/20 rule of Needs/Wants/Retirement. either at gross or income tax net of salary. if at gross, all taxes go into the 50% rule as a need since the alternative could be prison and i doubt you want to go to prison lol.
$305,000 HHI means you could spend up to 152,500 on Needs. That’s 12,708 a month. If you tally up all your other needs spending - income taxes, groceries, utilities, health and car insurances, child care, debt obligations, and transportation, you’ll get some number. Take 12,708 - some number = money left over for housing.
If your housing payment fits the bill, you fit the rule of thumb. of course it’s just a rule of thumb….
another way to think about it is to back into your needs. that is, you’ve got 12,708 to spend and have a 4,000 mortgage payment inclusive of property taxes and property insurance. that means you’ve got 8,708 to spend on all other needs including income taxes.
Your HHI is making 15k post tax you’re fine technically
If your income/job is stable and secure, you don’t have anything to worry about with those numbers. In fact, you should try and pay more toward principal to save few hundred k in interest, given your income.
You are fine.