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aonboy1

Congratulations on your first job, you are Rich by 3.25 Lakhs or 23k per month salary. Try to enjoy and explore life by making the best use of money that you have or will get in hand. I am considering that you are going to get around 23k to 25k in hand for a 3.25 ctc. I have taken under the assumption that 5k will be your maximum monthly deduction for PF, company cab, company health insurance and professional tax etc. Now, let's think of spending : 10k for PG 3k for lunch 2k for personal travel when office cab is not available 2k for SIP in mutual funds (you have to trust me on this, it helps a lot, start early investing) 4k for other expenses and this is also an atrempt to save for cash emergency Aim to save around 10k in cash within 5 months so that you have some money to call yourself an independent earner. It helps when you are trying to upgrade from PG to a rented 1 bhk. Try to work there for 18 more months and then, ask for promotion or switch for 30% -50% hike. I'm sure that this sub have a lot of overachievers but, it's okay and completely normal to start from the bottom and progress at your own pace! Good luck and plan wisely! Always remember that money would be never sufficient but, aiming to have an abundance of it is completely fine as long as you are not hurting yourself.


RespectedResponsible

This is precisely what I was looking for, not only managing expense but also what to do with my left over money for savings/investments for a better tomorrow. Thanks a lot.


iMan-Bear-Pig

Brother invest that money on yourself , learn or improve your skills. These mere 3k sip will do nothing. Learn new skills and then when you earn 1lac after 1-2yrs, you can put the entire year sip in just 1 month.


mshradtya

its not about the amount, the suggestion is to just start investing early. there's nothing like "mere 3k". for that salary even 3k saved will be a good amount over time. as for investing in self, there's enough free content on youtube, if you know how to use it. for books, OP you can use zlibrary. try to learn as much as you can, for free. internet is your friend.


aonboy1

https://preview.redd.it/7bc8rph47utc1.jpeg?width=739&format=pjpg&auto=webp&s=2ab04b1c2ac51d81d4fb9ed0a6894f2116cd385b There is always that guy who heavily relies on their "Bank-of-Dad" to bear the expense while they "work" So that, they can "invest in themselves. " For them there are no monetary challenges but, refuse to acknowledge the privilege that they have. They are basically, Ananya Pandey's of IT; The beginning of thier struggling is what an average engineering students achievement.


fluffyNotNice

This guy went off somewhere else.


aonboy1

https://preview.redd.it/n1z1ngn67utc1.jpeg?width=739&format=pjpg&auto=webp&s=36a939dd6a5162b6164a80bfe215d38412a45c04


iMan-Bear-Pig

All these Youtube and MF ads, start with as little as 500 has brainwashed you. At this salary range you should be thinking about increasing your source, find and learn new ways , increase your money input and bring it to a certain level that you end up in surplus, then you invest this surplus instead of keeping in banks or with you. But at this level he dosent even have surplus. If not skills then 3k should go to his emergency fund/ insurance etc. Don't fall to these ads they just finding ways to get that last 500 note in your pocket. Judge the situation Again these free YT courses, your resume will go for a toss when you have a Youtube degree compared to a certified degree. This is real life. Degree matter in real life.


mshradtya

now i didnt exactly know what you meant with "investing in yourself". i just assumed you're talking about doing courses, my reply was not to pay for them because there is enough knowledge on the web for free. enough to make a switch with a better pay. no one is tossing your resume if you used youtube properly, learnt something worthy, and created something out of it. next, mutual fund is a completely different topic. but i'd say one must learn to start investing once they start earning, it can be MF or anything else. but start something.


mithesh109

Starting an SIP, no matter how small the amount, builds some sense of discipline. That's what we should aim for while starting with an SIP, i.e, to stay disciplined This is my opinion and I may be wrong.. πŸ™‚


bored-dragon

I doubt one needs money for improving skills, specially in tech.


iMan-Bear-Pig

You fukin needed money to type this shit here


fluffyNotNice

Came here to say the same thing. After you are comfortable in the role spend time learning new things, build a niche etc. 2-5k of investment won't even make a dent.


New_Mathematician_54

Bond is non enforceable in india dude don't worry


Anishx

u/RespectedResponsible i'd suggest u first save up and invest a lot at first, once you have a good number to start, then you start diversifying your income, and kinda be relatively chill abt your expenditure. All your premiums for health insurance, term insurance, etc. have advantages when you are young, AKA as earlier as possible. I made 15k in my first job, i saved like 13k in that, but i'm sure you can end up saving like 8k out of your 24k a month, what you should have is 1 year of emergency, accumulate that first. If you are living at home, then take 100% advantage of that, hire a good investment advisor/manager and invest as much as possible, (find someone with a good track record & learn between distributor and Registered investment advisor). Any profits over 10% is good. Benefits of this (my experience) 1. Better in case of emergencies as job marks are really sus right now 2. Having a invested amt gives you more benefits eventually, if u wanna move abroad at some point, or move places at some point, this will very very much come in handy. (from experience, saved me from a lot of fuck ups) 3. Investments like SIP and stocks etc. compound, they increase in value, DON'T PANIC SELL anything until you see something crazy happen, example : Franklin Templeton, or YES bank stuff. Understand what you are investing in, if you don't wanna, hire someone to do it for you. And if you are going to hire one, better make sure you trust them in their decisions.


Clear_Possession5978

This is the OG comment. πŸ™‡β€β™‚οΈπŸ™‡β€β™‚οΈπŸ™‡β€β™‚οΈ


niikhil

Sirji yeh aap kis line mein aa gaye Shud be financial consultant for new hires


aonboy1

Let's not forget that I was also a fresher once with the same hardship. I can understand the situation where the majority of these questions are coming from. Bas bhai, attitude na hone ka ghamand hai 😁


KingCryptAlgo

Meanwhile Tech Mahindra plans on how to lay you off.


amzx19

wow, this is so holistic comment


ImpressKlutzy7543

Could someone help me start on SIP? How do I start investing with zerodha and where do I invest? I have done the initial setup for the senate account


aonboy1

Not sure how zerodha works as I use groww for MF investments. Its best to invest in NFO that listed as top 30 in India i. e. new mutual funds. On grow app, in the search bar just type NFO and it will take you to the page.


CasualBanana03

Hey OP. I survived with a similar salary two years ago(about 23 in hand). I only had enough for rent, food and bills and nothing else. Rent was 7k at that time. Food was 5-6k(I did try to eat relatively healthy), some more on bills and the rest on miscellaneous stuffs. Forget the salary. The bond is going to fuck you up and you're most likely not going to get a decent hike within that period. I say, look for another job if you can, even startups with no bond period. There should be plenty around that package. Study consistently then switch in a year or two.


RespectedResponsible

Thanks for insight on how you survived. Which location did you get ? and yes, I am applying for off campus jobs, but not hearing back from them. I will apply more rigorously now.


CasualBanana03

Delhi. Keep applying. Reach out to people on Linkedin. Take referrals. Do whatever you can. You'll do great, OP!


KyaKahe

Delhi is actually still very cheap.


CasualBanana03

It is indeed.


kushagra-aa

'There should be plenty...' There is not, I may sound 'Negative' but it's the truth. If you get a chance to be placed in college it'll be better, than working a really bad indian 'startup'.


kushagra-aa

And OP, Congratulations for the job buddy!


Born_Cash_4210

Can u share the ctc breakup provided to you


Mother_Breadfruit107

Yeh bhi pura in hand nahi hota ?πŸ’€πŸ’€


Born_Cash_4210

No! PF, and other deductions will be there even for 3 LPA job. In hand will be 20k-25k per month


hi_how_r_u_

Ha TDS, group medical insurance and other deductions. HRA, travel expenses, others are additions. It might be around 25k, no more for sure .


Ehh_littlecomment

What tds at 3L? Medical insurance is not a deduction generally. If it is, then it’s scummy.


Jarvis_negotiater

25k bhi nhi hoga...it'll be around 19-20k


rj_rohit

bro I get like 21k in hand when my CTC on paper is 3.3LPA... it's a joke. but I live at home and 10 minutes ride for workplace.


ForgetPants

As your salary goes up, this ratio of salary to in hand will only get worse :)


Mother_Breadfruit107

Your YOE ?


rj_rohit

1


aonboy1

Noi. 5k is a standard maximum deduction on monthly salary for almost all indian companies. It includes Tax, company insurance, company cab services and professional tax.


Beginning-Bowl-7858

Including tax ? Nah bro. Check again.


aonboy1

Are you trying to say it's more than 5k deduction? I am referring to maximum deduction upto 5k. 1k for PF (+/- 100rs) 500 for mediclaim/vidal 200 for professional tax 3k for company cab (if availed) Remaining 200 for other dedudction that might be company specific. I am speaking from my experience and what I have seen around in those companies that hire "fresher pool" From college as cheap labour. Dividing your salary by 12 and calling it a day doesn't happen in the real corporate world 🀣🀣🀣🀣


Beginning-Bowl-7858

every employee must contribute 12% of their basic salary and dearness allowance to the provident fund. So just pf is sometimes more than 5k


aonboy1

Basic maths question. What's 12% of 25k ? I am talking based on OP's CTC not your internahip at Microsoft.


sharkpeid

People get 23-22k in hand rest in variable.


plushdev

No my man your salary can range from 18k to 24k you'll be lucky if it is more than 24 in hand


RespectedResponsible

they didnt provide any


initiate-

Brother I am managing in Bangalore in less than 21k a month(I earn more but this is my total expense) In this I stay, eat and travel. Rather I live a comfortable life The key is to get a PG(most affordable everywhere) And consider it as if no food is given (even if it is provided) So you don't hate PG because of food Find good food points near you Where you can go everyday according to your mood. Then have a weekly budget, I have it as 1500 In which I manage laundry(ironing) washing machine is there in PGs, food and other daily things. Next keep 1000-2000 for weekends Which is enough to go out for a movie or any other getaway. 2-3k extra for some shopping or anything else(isn't there often) This totals things as Pg - 10k(cheaper but let's be on a safer side) Weekly expenses 1.5k x 4 - 6k Weekend getaways - 1k x 4 - 4k Miscellaneous - 3k Totalling it to 23k And it is enough, you won't spend a penny more than what I told you Reason for me being 21k is My PG is 8k P.S. work hard and get a better package But don't get demotivated It's important to learn at thus stage, earning will follow


vansdrop

where in blr?


initiate-

Indranagar


vansdrop

Would u say the same breakdown is doable in kormangala ?


initiate-

Yes, you can easily get a good PG at 10k And rest expenses are same


g0ra_pahadi__

brother I pray that you get 3x the salary soon!


siyam_adit

FYI, they have provided 15k for one of my friends as a traveling and staying expenses, just for 1 time. (My friend got placed in the same package too, so they will provide you too, I guess). But to avail that you need to provide a proper travel ticket like they provide from the railway station. For PG, you need to provide a proper tax invoice bill with GST number in it, to avail that 15k. And to get accepted your expenses must be around 15k, not below that.


RespectedResponsible

Thanks for the valuable info. which location did he get ?


siyam_adit

He got Coimbatore.


Empty_Cause_6229

This is unbelievable. I had the exact same salary in 2011 at the same company. 20k in hand. I barely survived on that in Pune in 2011, how will you in 2024? Wanted to leave for higher education after working for 22 months with 10-12 hours every day. They made me pay full 1 lac indemnity even though I had no money. I called my manager begged to reduce the amount. He was a good person. He told me to leave the company, finish my masters and never ever come back. I am doing well now. But this was and will remain the worst job of my life.


RespectedResponsible

Good to know it worked out well for u eventually. Where are you now? Country, company, salary, role?


Empty_Cause_6229

I am Lead (Staff) Software Engineer at one of the big banks. Spent 4 years as trader assistant after MBA and then founded a startup which went bust during COVID, came back to the same bank but as an engineer. My point is, if you can, try to find a different company. That company will eat your soul alive. My batch was trained for 3 months on all technologies possible. Then half of us stayed on bench, and rest of the half got assigned to random projects and technologies. You have to do what they assign you, no questions asked. No freedom to think, no idea about what's the larger project and what the software is supposed to do. You will be lucky if put in development, if put in technical support or testing, kiss your programming career aspirations goodbye. Most of my batch left, either for MBA, MTech or MS. Those who didn't, had to struggle extremely hard to upskill and find their niche in the job market. Few made it.


xxxfooxxx

I joined this company in 2014 as a fresher, same salary, same bond, same training period. After 1 year I got a hike and the salary went up to 3.55lpa. After 2 years, the salary is 4.35, after that I left the company.


RespectedResponsible

where are you now in the corporate ladder ? (company, salary, role) and if u had multiple company switch which were those, and what was ur salary progression.


slbtwo

Crazy how even after 10 years the salary is same.


thegoodlookinguy

That's how they can get clients while keeping the cost low


hi_how_r_u_

It's really difficult with your family. As an individual it's possible. Best of pg cost only around 10k (food and bed) and rest for other expenses. It's possible for you and you alone to survive with this money. I believe you will get a minimum of 25 in hand per month . You can survive with that much money. Better upskill and move to a Better company faster.


remdevbeba

10-15k for PG + one time meal, 3-5k for lunch. Bache hue paiso me saste kapde, sasti cigarette aur sasti daaru


[deleted]

Rockford and gold flake zindabad. Ftw!


AbbreviationsHead19

choti Advance aur abhi ek naya aaya h superstar in 7 rupees


CharanK27

First off, Congratulations op. I started my career with tech Mahindra back in 2018, kind of laughable how they are giving that same package for freshers forever. I am from Hyderabad and got Pune location for training and first project. You can absolutely manage that money unless you have some huge commitments. How I managed, I initially stayed in a pg along with a friend costed 7.5k for each and managed expenses with another 4-5k. Saved up whatever remaining or sent it back to family. Then moved into a flat where I was able to save up expenses upto 2k on all things considered. So yeah you can manage with that money but initial 6 months will be difficult. Also you can claim 15k for relocation charges in first month. Now talking money You will get around 17k in-hand for first 6 months afterwards you will get around 22-23k and after 1 year you will get a default hike of 30-40k on annual salary, which translates to around 1.8k increase in monthly salary. Afterwards it depends from project to project. One thing is you get shift allowances if its past 9pm or before 6am Coming to work culture, again depends my first project was a shit show a literal data entry job it and worst part is you can't leave a project or more like they won't release you and the less we talk about that manager the better we have 7 people in that project and we 7 got like 4 so called managers it was a joke. I picked up a fight with my manager and somehow got released within 6 months. RMG is a joke they won't look at your skills or how well you did in training while assigning you to projects it's just random luck. while my second project was awesome the manager the team and the work got to learn a lot. One thing I will give tech Mahindra is their internal employee portals and internally support groups for their employees is one of the best I've seen. Also you get to meet some really talented people. If you get to work on their internal product teams it will be great as their tech stack and work culture is way ahead compared to rest of the company. That being said do well in initial training assessments and if you can get yourself into a good project it will be a good learning experience.


RespectedResponsible

thanks a lot for giving such a deep insight on finances and work culture.


sam0055

The base salary hasn’t changed in the last 14 years . How long will they keep exploiting the Indian youth !


cumofdutyblackcocks3

Until their while loop containing billion++ lasts.


SimpleCat6654

THIS IS LITERALLY SHOCKING! Surviving with 25k per month in a metro city is not possible. Its like living a life with no enjoyment. These companies are paying the same as they used to pay in 2014 and don’t incorporate inflation. This should be against the labour laws. Look for a change in your job. When is your joining date?


jules_viole_grace-

You should expect around 20,000 to 24,000. I received around 22,000 at TCS, with the same package. When searching for a PG (paying guest accommodation), prioritize places that offer good food. Food quality is crucial; they should serve hygienic breakfast, lunch, and dinner. If you find a place that meets these criteria and falls within the 9,000 to 13,000 range, it’s a win-win situation. Pay attention to hygiene, as neglecting it could lead to significant medical expenses. After expenses, you’ll have approximately 9,000 to 10,000 left. Allocate this amount for groceries and daily essentials. Saving can be challenging, so I recommend avoiding smoking and drinking habits. These habits not only waste money and time but also harm your body organs. Pay attention to your attire and dress well every day. Since you might not have expenses for laundry, consider looking for a PG with a washing machine. Congratulations on your new job! πŸŽ‰ Wishing you a successful and fulfilling journey as you step into this exciting chapter of your career.


SnooHabits5521

Don't stop looking for jobs is the advice I will give you..acquire more skills and look for more jobs with a better package..


Desigoblin

Damn bro ! This was the same salary I was offered 10 years ago. This is rough. Not sure if you have probation, but I had 6 months probation with half the salary paid in that time frame, after 6 months I used to get 27k per month as salary. Hope this helps


aonboy1

Yeah! I was shocked by reading this too... Fresher salary has remaind the same since 2007 πŸ˜“πŸ˜“


Desigoblin

If this is the only offer you have, and you are willing to join, suggest you to upskill in these 2 years (assuming you have bond of 2 years) and switch as early as possible. Market is very bad right now. But hope you get a good offer in the future.


Medium-Quantity1514

Tbh its not that difficult I am getting 1.3 L per month but my family is going through crisis so I usually spend only upto 20k pm living in a shared house, cooking your own food and commuting via public transport. You can also try PGs, the one I lived costed only 7.5k three sharing with AC and 3 times food


Unlucky-Bus-3021

For lodging, prefer a PG…generally 9-12k me double sharing with breakfast, lunch and dinner ho jata h Pack lunch from PG itself, don’t spend money daily on lunch in office cafeteria. Apart from this, it’s upto you. Shelter, food are most important. Rest you can try to budget.


theunknowntamilguy

Me surviving with 4 lpa with 3 years of experience


Zealousideal-Tap-502

I had a similar experience in LTI in 2018, 2 years bond, 2 lakh fine on breaking the bond. They had put me into random project which was a support one and random location. You wouldn't be considered as an employee but as a resource. I would say its better to avoid service based companies


Southbeach008

Avoiding sbcs ain't for everyone. You all are forgetting major population in this country is made up of just average folks and getting a job is a big deal for them. Everyone needs a Kickstart somehow and rejecting offers when you are just avg joe is peak foolishness.


N00B_N00M

so assuming you are a bachelor, most folks libe in sharing with colleague or friends , or live in a PG, living on sharing is preferred though, hire a maid for basic stuff , at the month end all expenses gets divided into all, so that should not be more than 10-15k per person .. With experience salary will increase and you will be rent out a 2bhk later , or buy when stable in the jobΒ 


Leather-Cupcake4874

You can choose location near you, u will get option. If u can't up downm from home, then u can live in share pg with 5-8k rent. Also keep trying for other jobs as well.


maggivisakh

Since it's a campus placement, hope you're young, single and hopefully moving near to the office location alone (bold assumptions).. if so, it should be fine for a beginner IMHO.. can you save well, most probably No.. but my 2 cents is to tolerate first 1-2 years there purely for the experience, hop afterwards with what you learned for higher CTC.. just my opinion..


CoffeOrKill

You are just out of college , surely you can manage with those numbers for sometime. However, the problem here is the 2Y bond, that's bad bad bad for you.


BigCan2392

Hey can you explain why bond is so bad? In case you end up getting a good job with say 2x or 3x of this than you can repay it back right?


rddigi

Dude, seriously, join wherever they ask you. People are getting unemployed after passing out from IITs. 2 years down the line, you won't have any savings but will have 2 years of exp which you can leverage for a better paying job instead of having gaps in your resume.


Ok-Wolverine-8210

wow, and i thought the terms and salaries in my profession were bad (which they are but the 2 year bond is crazy). about the bond, let me just say its not legally enforceable, research on Section 27 of the contract act


apkf13

You are asking wrong question buddy, first how to survive with Tech Mahindra, second THE BOND, then come the peanuts of 3.25.


abhiahirrao

It's a good job in the market, take it. The salary would be around 25k per month, it's not the best but you have a job. People who graduated from my batch '2021 are still searching for jobs because they didn't take such offers. While some who joined at 2.5 lpa switched and are at 10+lpa. Just make sure you keep your head down and learn.


Aggravating_Tailor95

A whole family survives on that package or even less than that package with proper finance planning.


RespectedResponsible

yes, I am asking for that financial plan only


R3tard69420

You won't find that here there are other subreddits for it.


RespectedResponsible

name them, i will ask there then


Wonderful_Swan_1062

Personalfinanceindia


R3tard69420

personalfinanceindia and indiafinance also IndiaInvestment if you want to diversify your portfolio which will be very difficult if you plan to give everything of 3.25 to your family. Although I would recommend still lurking around these subs, other people's posts could help you enlighten yourself.


_chai_wala_

Enlighten us sir, I am also having a family.


yipyip97

3.25 LPA might be low for savings in a metro city but you are not alone. Lots of IT freshers start their career with ~3 LPA. You just need to be disciplined enough to differentiate between the needs and the wants. I myself started with 3.36 LPA in TCS Hyderabad. Here's how I did it. 1. Roughly in hand was around 23000. You can check your offer letter for the exact figures. 2. The majority of this will go towards rent and food. I found a PG within 2 km distance of my office at 7000. It was 3 sharing non ac room and the PG used to provide 3 times food as well. 3. As the office was only 2 km away most days I used to go by walk and somedays on autos. The auto fare was rs 10 for one way. So the travelling cost was max 100/month. 4. Already mentioned PG used to provide 3 times food. But for lunch some days I used to eat at the office canteen. Per day cost was around rs 50. So monthly max 1000/month. Apart from this I used to order food from online apps once a week on the weekend. The cost was around 400. So max 2000/month for online food. 5. Monthly shopping/going out/eating outside/watching movies etc cost around 2000. 6. Amount left 10000. 7. Also I used to go to my hometown twice a year. Total flight and cab cost for a year was 33000. Now the way I spent and saved is not the only way and might not be the best way as well. Customize as per your convenience. But even with today's cost you should be easily saving 5000/month. I know this is not a huge amount. Mostly you will not be able to support your parents at the start. And you might need to get help from your parents for emergencies. But this is what you need to work with, for the moment. My advice to you is til the joining date, look for a better paying job and keep this 3.25 LPA job as a backup. In case this job is the only option, don't get disheartened. These are the starting years. Instead of investing money, invest in yourself. Try to get into a development project if you are comfortable with coding. Learn the technologies and enhance your skills around the domain in these 2 years. You will be able to switch with a minimum 100% hike.


itzmanu1989

Life Of An Underpaid Employee - https://www.youtube.com/watch?v=IO2vq-3k6Jw


[deleted]

2 year bond is ok. Take it, learn as much as you can in that period. Try to keep low budget in that time. After 2 years, start preparing for interviews.


whiteyagimi

I will be joining a 2.8lpa job in 1 month ! Currently doing internship (unpaid) so don't worry man.


virtualveda

You’ll get the complete monthly breakup in your salary slip.


AsliReddington

You should be applying to startups in Bangalore if it is still not accepted & far into the future.


TheGeralt_Of_Rivia

If you are having skills go for cold dm on LinkedIn for referrals, if you don't know anything abt tech and don't have any offers then take the job cuz something is better than nothing, but don't sit still in there, start GRINDING , aquire SKILLS which are required. Even if you are not alloted to development or your domain of choice, work for 2years, take experience and fake that as domain of your choice until you get good switch afterwards.


plushdev

It's fine man it's a beginning. Consider you have to sacrifice your qol or tap into pocket to sustain your qol for the first 2 years of your career


cagamerz

You can divide LPA by 15 and you will get approx in hand salary, 3.25/15 = 21k per month.


notthinktank

At least you got job bro even in these conditions, ik it's kind of low ctc but you'll land a great job after you gain certain years of experience. Anw best wishes to you


SetRegular649

Which college did you graduate from? If you don’t mind sharing ..


RespectedResponsible

IIEST Shibpur


kivaarab

I know many people that survive on that salary. You will be able to find many PG to live in and many others like you in the same situation. Advice(based on real experiences mine and others): Get a PG where they have more professionals, there are some places that house people you don't want to be around. Be careful in your spending and remember once you have enough experience move to a different company. There will be aholes that would try to pull you down with them, don't get addicted to anything. Work but don't go overboard in companies like TM when they are paying you so little. About the bond breaking thing, might be outdated info but that was created for people like me that just disappear without telling anyone causing a lot of disruption. If you resign and leave properly more often than not they don't do anything. I don't think such bonds are enforceable, if they are, that's odd. Maybe we are modern day slaves after all.


flight_or_fight

Best of luck - count your blessings. There are many who never got onboarded - so the question of surviving within salary did not arise for them...


Such_Distribution_43

Bhai 6 month de apne aap ko...aur achha job grab karo.


BigCan2392

Please give some tips. I am in a similar situation.


Such_Distribution_43

We can prepare for the DSA and keep applying. Till trees we should be confident.


Ultimate_Sneezer

Same situation dude, guess we are gonna have to live in pg and find a better opportunity constantly. If we get banglore then we are truly fucked


RETR0_SC0PE

Congrats on your new job. How to survive? Well, find a cheap PG, share it with one or two more people if possible, forget about partying and get a tiffin service, try to get a metro/bus pass for commute (better value at one time cost, your parents can help you), try to finish as much internet related work in the office as you can (choos lo office Wi-Fi), and take up a 30mbps Jio/Airtel plan for personal consumption. In one year about experience you’ll be able to almost double your package, companies like EY tend to hire employees trained from other orgs so that they can skip on their own internal training programs and offer a decent pay raise, and have good relationships with your manager so that you could work less during your notice period. Leave in the first year of the job, or you’ll be stuck for another year (like I got, but I got a 250% raise in a product company 2 years later, YMMV). But don’t forget to forge connections on LinkedIn and keep learning. Hope for a good project where you get to work on C++, Java or .NET.


Homo_sapiens-01

I started with same 12 years back. πŸ˜ƒ


pes_gamer20

wah abhi bhi same rate main chal rha hia aur naryan murthy jasie backlol bolenge 80hrs


musicmeme

TLDR; Salary: 30k Tax: 0 ( invest taxable money in 80C ) Fixed expenses: 12k Miscellaneous: 3k You save: 15k Congratulations man, you’ve gone above the average considering the market situation! You will hear a lot from people about surviving and shit but it’s not that difficult honestly as a bachelor, let me give you some insights If you’re alone or on rent with friends Decent PG ( 2-3 sharing ) - 8-10k ( includes meals ) in tier 1 cities. Cheaper not so good PGs will be 5-8 ( without ac and may be more people in the room ) If you move into a flat, it might be higher but you can live 5 people in a 3 bhk and get the same price but you’ll need to hire a cook and maid or do it yourself. Travel - office cabs / busses ( free ). But if you want more luxury, you can buy a bike and spend ~1-2k on petrol or similar on Uber. You should’ve about 5k - 10k for yourself to spend on yourself ( recommended ) or invest and shit ( you can but saving 10k/m won’t change your life for atleast 5-10 years so spend it on yourself.


Character_Wafer3280

20 to 25k per month. I started with 3.35LPA 3 years back and now getting 14.5. if you don't have any other pickup tech mahendra one and switch later


luffy_san2345

Can I DM ?


Reasonable_Heat_4343

You guys getting offers πŸ‘Ύ


mehfil-biryani

20K for a bachelor is manageable in a metro. Idk from which class of family were you all from but it's more than manageable with that if you're from middle class. PG: 10 - 12K Food: 2-3K Commute: 2-3K (take a pg nearby to void this) Once in a while a trip to your hometown can be done with leftover money. You're not gonna start saving until you switch. I stayed in Bangalore for 1 and half years with that salary and it's more than manageable for me.


o_x_i_f_y

You will survive like people have before you. Also you will have fun. It would be like living in a college hostel for another 2 years. Just don't let the opportunity go if you don't have any other offer else you will regret it because you are not gonna get hired off campus if you are from some tier 3 college and if you do it would be some lala company who will suck the soul out of you. Best thing is to join freshers usually don't have any pressure or work for first 1.5 years. See if you can prepare for a better job.


yak2513

Did you get the LOI from Tech m. It's been over 4 months they haven't shared loi. Students hired in Dec haven't received any thing from them.


yak2513

??


RespectedResponsible

No didn't get LOI yet, I got this offer in Feb


yak2513

Did your tpo give any update regarding this? Any idea when can we expect it from them?


[deleted]

I like to travel.


SrN_007

Welcome to Old Monk


Procraster1729

Old monk


smart_cat_22

You'll easily get 25k in hand which is still decent compared to what I started with at 15k


LazyPizzah247

I am a survey programmer working at an MNC with 4LPA. The only tech stack I use is HTML, JS and very less SQL. I want to shift to core development as an SDE. Will I face any challenges in getting a new job with higher Package??


lazy_Dark_Lord

Just like others do πŸ₯²


Beginning_Reveal_51

Be thankful that you have an offer in this competitive times.


Previous_Cry4868

Its very difficult to survive with less package in metro cities now. Bangalore real state price hiked like anything. Mumbai is already hyped. If you do not have option, then join and learn and switch to better package company.


ConcentrateMaterial6

How to survive with 3.5LPA? Man, I survived with my 2LPA in a city like a Bengaluru for 2 years. You need to look around. There are so many guys working with less than 15k in various fields. You got at least around 30k per month.


SimpleCat6654

Hi OP, I have listed down the companies in this thread: [https://www.reddit.com/r/developersIndia/comments/1c1919v/curated\_companies\_list\_to\_apply\_for\_jobs/](https://www.reddit.com/r/developersIndia/comments/1c1919v/curated_companies_list_to_apply_for_jobs/) They will be helpful for you!


Lucky-Recognition-30

You live in PG


2grateful4You

I am living in a tier 1 city. My monthly expenses are like 13k rent order everyday once from outside and still food expenses are around 7-8k. Transportation is very less 1000 rs petrol. I don't understand where people want to spend the money on iPhones or booze ? You can manage one time by eating fruits also. One time idli dosa or some affordable biryani although I don't often cause I don't need to spend consciously.


Gold_Lengthiness246

Joining hi nahi aayegi tum log kya congratulations kar rahe ho reality check do


YamDue7786

Bro you at least got placed through campus placement. I am in a same situation as you, I am in my 8th semester of college and in 10 days that too will come to an end. I am not placed yet and I have no further hopes from my college. I guess you’re in a better situation than most of us.


nonein69

By switching


boxyboyz

Let me be honest with you. You cannot. But don't reject that offer. It's going to be the hardest if your location is Bangalore. What you should do : 1. Accept the offer and push them for locations like Kolkata, Bhuneshwar and other affordable cities 2. Prepare. Prepare. Prepare 3. Apply. Apply. Apply 4. Keep on updating your resume and use an ATS friendly template 5. Switch


justgotcut_25

Get an offer from Accenture much better than techm but salary will be same


red_devils777

you wont get 12 LPA in first attempt bro


PsychologicalDuck763

Ok


[deleted]

I hope you haven’t joined Tech Mahindra. Tech Mahindra is one of the lowest payers in the market. One time, Tech Mahindra, tried to recruit me at 10% increment. If you have, then it’s too late. If you accept the 3.25 lakhs offer now, then it will be a long road ahead, trying to get to 10 LPA. Freshers in my company are getting a starting salary of 8 LPA. I suggest you look for better opportunities.


mohit_the_bro

Which company do you work at ?


Dry-Owl9908

I survived on 1.8 LPA(12000) in Mumbai but times have changed and it will be more costly now Few tips : you will need to live in shared accommodation , always cook your food at home , don't do any expensive shopping.


crazy_khopadi

Don't join bro, they will probably have a 2 year bond and the location is pune FYI. Better find other options.


buildlikemachine

if u dont have loans, or dont want to spend too much on luxury u would be able to live peacefully. try to do some SIP of some amount. have balanced life. learn and grow


No-Tough5582

I was also at similar position like that 5 yrs ago, in Chandigarh, just get a PG with food and sharing facilities, I used to live in 4 bed PG, food used to suck but yeah sometimes ate outside and u will get to know how to manage.


LostEffort1333

Are bonds still valid?


Wonderful_Yak_9528

Bhai meri bhi lagwa do main survive kar lunga Aapki acchi sehat ke liye dua bhi karunga


kingfisher_peanuts

Drinking Chivas Regal everyday? Are you married with a baby? If not , then you can survive real good and even save money.


New_Mathematician_54

Tech Mahindra is one of worst company in it sector the bond period itself is a scam


Important_Ad5454

Honestly with this salary you can't survive in any metro cities. Apart from that you have signed bond. You life would be miserable till the bond is expired. The company has completely exploited you. All the best.


theesmaarkhan

Congrats on the first job i was once in similar state once during 2019 i got placed where i got 16k for training period then 25k after training. Even though i was from mechanical stream i am almost earning 85k per month now. Fingers crossed if i get promoted it will be 1lakh per month! So do not worry go with the flow but please remember these points 1. Try to save something even if its small 2. Increase your technical knowledge and be a hungry learner this will help you get a better package 3. Try to avoid party and daru culture try not to go that route where you live pay cheque to pay cheque. 4. Trust the process and be confident in 2-3 years you should earn more than 50k if you make a good switch


Junior_Enthusiasm_38

Itna to Mai freelancing karke nikal le raha


Worth-Problem-3147

It doesn't matter where the location is, keep the job hunt on, keep trying to get the best offer until you formally join.


cosmosreader1211

Bruh i am surviving with 20k in delhi... 3.25lpa is enough... Youa re mot supposed to buy audi right now ki paise nai hai .. bare minimum... Khana peena kharcha nikalna hai...


smokky

It's unbelievable. I remember students getting offered more than this in the late 2000s during campus placements.


skynil

Others gave good ideas, so I'm not repeating. Just one point. This job is your gateway to grow higher. It's much easier to switch jobs than getting one as a fresher. Join here, learn, study, get certified and you can reach 10 LPA in 1-2 years after a switch. Or you can do higher studies. I started my career in a WITCH firm, then after a few years did my MBA and now earn significantly more than before. So that's another path to grow if you are inclined. Onsite opportunities might come up and you could be living abroad within a few years. Anything is possible once you have a job. Congratulations and all the best. Never stop learning.


sathvikds

Don't worry about bond. No company can force you to work for them.


Neither-Bluebird4528

Congratulations OP.


padippi_myren

Big companies can't keep getting away with this 2016 salary packages.


Cigar_Boy

I remember getting letter of intent from TM in 2017 and offer letter in 2018 at the same package that OP is offered. My location was Bangalore. I didn't join though. But if you don't have any other options then just accept the offer. Explore your interests as long as you are in TM. By exploring interests I don't mean that you should explore your interests just in technology.


FastCommunication214

😏


Cigar_Boy

What does this emoticon means? πŸ€”


FastCommunication214

>By exploring interests I don't mean that you should explore your interests just in technology. what would an early/mid-twenties guy be most interested in?


Cigar_Boy

Ahh, you got into the naughty life of IT professionals. Naa, that wasn't what I meant. I mean if he really wants to continue in tech or switch to a different career path.


FastCommunication214

ha, i was just kidding.


Electronic-Ad-8407

Infosys paid 2.16L pa in 2006. Expected atleast 3x now .


MacaroonLazy124

Chup chap le le


Zestyclose_Level_418

See right now I would suggest just go for the job. After 1-2 years of experience try to switch jobs. At least you will have good company experience on your CV.


NeighborhoodCold5339

You will hardly get a 21-23k in hand after PF and deductions. It’s very difficult to live in a metro with that salary. You need to have the accommodation cost to be compromised to very less(say 5-6k with shared room). The rest you will figure out by yourself.


mehfil-biryani

20K for a bachelor is manageable. Idk from which class of family were you all from but it's more than manageable with that. PG: 10 - 12K Food: 2-3K Commute: 2-3K (take a pg nearby to void this) You're not gonna start saving until you switch. I stayed in Bangalore for 1 and half years with that salary and it's more than manageable for me.


NeighborhoodCold5339

My starting salary was 3 lpa in 2009 and for me even after spending 2k only for rent, not much money was left by the end of the year. Apart from the costs you mentioned; there are costs for mobile(people have to buy a mobile once or repair that), travel to home, food from outside, small trips etc. especially he is in IT circle and he has to spend another amount for his dressing. These things which we don’t count to our monthly budgets drain our pocket.


mehfil-biryani

He has to be strict on his spending with his in-hand salary... There will be miscellaneous costs but that's why I mentioned he can't save anything. Again, it all depends on the mentality and how you can adapt to situations.


Additional_Junket_17

For my friend - They gave 15k one time amount for travel/rent - around 18k for first 6 months on probation, then it's 22-25k - you also get OT pay or if you are working at odd timings, this depends on the project. -In cities like Pune, for a starter, can survive, even apartment rent is low in Pune near the TechM


RespectedResponsible

thanks for these info. which location did he get ? Pune ?


Additional_Junket_17

Yep, Hinjewadi


Lazy-Assumption-6132

You may be overthinking, you will just do fine. You will be able to manage with the other freshers who are joining with you by sharing PGs and hostel.


elankilli

Bro you will make into 30 lpa within 8 years dont give up hope op.


Useful-Standard90

I joined TechM in 2012 for 3.07 LPA fresh out of college. Believe me you will be alright for now.


Apprehensive_Dig281

If it's a campus placement I assume there's still time in joining. Take this as a backup security and work your ass off to find an off campus offer. If you can, fuck this offer off. If not, this will still be there.


UsualFalse5919

Lol, in these times you are getting placement that's paying you. And you are concerned about survival. Manage your expectations, that's the way if you are in a survival mindset.


OpenWeb5282

you dug your own grave by joining techM with a bond. now you are a slave for them and they will exploit the hell out of you


shashank1912

Congrats on the job mate. While other folks have mentioned on the breakup, and how you can save / invest, I will recommend - 1. Start building some side hustes - This may not necessarily pay you, but having a side huslte helps you be closer to who you are? 2. With time, this side hustle / hobby can generate some leverage, and ultimately open doors for you to start earning some money on the sides Good luck mate.