An Indian man in New York, Yash Sharma, sparked a debate with a viral video explaining why a ₹1 crore salary in the US isn't as glamorous as it seems. He highlights that after deducting 35-40% in taxes and high rent, a person earning ₹25-30 lakhs in India might lead a happier life.
An Indian man in New York City has sparked a discussion online after explaining why a ₹1 crore salary package in the United States may not translate into the kind of lifestyle many people in India imagine. The man, who goes by Yash Sharma, posted a video on Instagram in which he discussed the realities of making a large salary in New York and contrasted it with the city's expenses.
In the video, Sharma said, "Bro, in America's New York City, some relative's child got a 1 crore rupees package. Now, what is the reality of this package? Come on, let's check it out. Over here you get hit with Federal tax, State tax, New York City tax, Social Security, and Medicare. Meaning, 35% to 40% of your 1 crore rupees package goes strictly toward taxes."
He went on to say that rent in New York can deduct a significant portion of an individual's earnings. "Now, buddy, you will also need to rent a home if you wish to live in New York. Additionally, the monthly rent for a property in any respectable neighbourhood here might range from ₹2 to ₹3 lakhs. Therefore, in my opinion, a person in India who makes between ₹25 and ₹30 lakhs is happier than someone in New York who receives a present for ₹1 crore rupees," he continued.
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Social Media Reacts
A few people have responded to the video, expressing differing opinions about the salary comparison between India and the US. A user remarked, "This is exactly what people do not understand when they only convert dollars into rupees." "Cost of living matters more than salary numbers," another person stated. A third said, "Still, the quality of life in the US is better for many people."
A other user said, "New York is one of the most expensive cities, so this is not true for all of America." Another person remarked, "People in India only hear the package, not the expenses."
One more user commented, "Taxes and rent are the real shock for anyone moving abroad."
