Thread regarding Cisco Systems Inc. layoffs

You have failed to see through the economics of rebates. Rebates are a means to make you spend more in certain directions that the government has decided it needs money to flow into. Rebates just give you the illusion that you are saving money by reducing your tax outflow, but in reality that are just making you spend more. Its just discounting, but only if you spend first. The bottom line is as a salaried individual your options to save tax are zero, and especially at Cisco, which is strictly a by-the-book, take-no-chances player when it comes to interpreting the murky tax laws we have.

Children's education loan ? Should I take a loan to put my 8 year old and 10 year old through school ? Your advice lacks practicality. While right in theory, the average Indian family will stay away from stocks. After all we all know the systems we have in place to regulate stock trading is a sham. Have you forgotten the big bulls & the scam of yore ?

you can save 500K rupees under various heads for TAX rebates like HRA , Housing loan interest, 80C, 80D, you can also claim Tax rebate from children education loan interest. Just visit some accountant and take some tips. Some people are just lazy to get educated about fiscal responsibilities. Money is everything. Its not about how much you earn and but its about how wisely you can spend the money. I am not saying dont spend. Spend wisely and maximize returns. Do some homework about stocks. Most of Indian professionals are afraid to invest in share markets and extremely lazy and illiterate about Stock markets. But some people are only in Stock market most of times and keep checking the stock market trends during working hrs. so there are all kind of people. Lack of knowledge or interest is no excuse to increase your wealth. If you are satisfied with Salary dont want invest time to educate yourself about investment options then dont complain about salaries and cost of living. Talk to any Financial consultant, Tax consultant and take their tips.

There are very few tax rebates available for the salaried class. Yes, there are rebates under various heads, but you are not eligible to take ALL of them simultaneously and you certainly can't take them unless you meet specific criteria. Now there are those who commit fraud and do maximize the rebates, but that is not the norm and certainly not what we as society should encourage.

For the guy saying it's easy to make money from investing, can you share some specific tips, and not tips like investing in shares, investing in mutual funds, invest in reality. Give specific share names, fund names, real estate projects guaranteed to make money that is over the prevaling bank interest rate. I bet, you will not give a specific answer, because investing for sure profit is a gamble, and no middle class worker is going to gamble when he/she is starting out life with a family and has obligations to fulfill. The gambling sorry investing can be done only after a safe corpus of funds is attained, and with today's inflation and costs, that is the problem.

That is patently untrue. A simple study of the cost for housing, education & health care, will show you why. All the key cost markers have gone up.

35000 USD gross salary + another 7000 USD as bonus and other allowances. That is like 3 million rupees and there are only handful of people in entire India who can make such amounts of money.

It is possible to lead a king size life and avail all possible tax rebates and maximize you nett salary. Of course invest money wisely and cut wasteful expenditure and save money. Build a good fund as back up.

So much for 35k usd being upper middle class, getting a decent car or home at that salary is somewhere between living close to hand to mouth and a stretch, certainly a far cry from being called upper middle class. Infact there is zero scope of international vacations for the family.

The fact that the initial calculator factored in 100% of the bonus into their calculations gives a high degree of surety that the person is from HR. If you have been for any interview and get a offer you will invariably see that the sum offered will have 100% of all the variables factored into the offer & the HR negotiator will hard sell the offer saying that what that are giving you is higher that your current salary, when in reality 20 - 30 % of their offer is a variable with a 50:50 chance at best of being paid out in full.

Gross Salary (- bonus, is the bonus assured ?) = 23,00,000

Tax = 7,00,00

Net Salary = 16,00,00

Expenses:

Rent = 35K/month * 12 = 3,60,000

Misc expenses = 50K/month * 12 = 6,00,000

2 school kids = 3L/year * 2 = 6,00,000

Net Salary - Expenses = 40,000

So at the end of the year, the saving is 40,000 & this does not account for any unforeseen circumstances.

Hahahaha..this is funny calculations. 30k monthly expenses in Bangalore is a joke (you eat boiled vegetables only, mister ?). A 5 member family will easily touch minimum 50k conservatively. Hey maths guy, why you so hell bent on proving your self right ? What's in it for you ?

It's obvious you are a troll based on those calculations. For any one seeking proof, the first line is enough. What is the tax rate for that bracket ? There is no need to assume the tax. It is higher than what you gave. Second, can you say easily double via investing. Really ? Double ! (If wishes were horses, pigs would fly). The rest of your numbers conveniently take the absolute minimums. Do you know what a 25K rental will get you ? A dump. Fine for a single, but not for a family. You conveniently leave out housing loan payment, until after making a bonanza with your ace investing skills. You hinge your logic on making big bucks of investing, that has nothing to do will the pay scale discussion.

Lets assume you make 35000 USD per Annum + Bonus.

• That is roughly equals to 2.3 million Indian Rupees + 400,000 Indian Rupees as Bonus --- So total Gross salary is around 2.6 million Rupees after removing Social security contribution.

• Lets assume you paid 500K Indian Rupees as tax. That will leave you with 2.1 million rupees net salary/year

• Rent is 25K Rupees. Rest of expenses is 30K. your monthly net is 180,000 Rupees. Even if you spend 80K Rupees as monthly expenses, you end up saving 100K Rupees per month(1750 USD)

• If you invest properly, you can easily double your money and can easily buy a good house or luxury apartment in upscale area in 2 or 3 yrs time and also afford a luxury car.

• Even if you spend like 250K rupees as medical expenses and another 300K as School for your Kid. You should be able to save 1 million rupees/year(including all gains due to wise investments)

• wise investment and savings can help you retire in 15 yrs + social security worth of 100K USD(in your bank). By this time, you would have bought lot of real estate and made wise investments and can also earn through rents , interest on your money in Fixed deposits, good returns from shares, increase in real estate prices.

• in the process you can take a one month international vacation

if someone is making 30000 to 40000 USD in India, can be considered as Upper middle class.

They can buy best house, Best car, enjoy all materialistic pleasure, afford costly international vacation, can send their Kids to best international schools and can afford 5 Star hospital treatment.

Hey OP, please share the math for this, and if this is true then every manager in Cisco should be rolling in cash, living in palaces and after 10 years as a manager, they can retire to a life of living of the interest from their investments.

I moved from BLR to RTP even though I was in that pay grade in BLR, because as a single earner, I would have had zero savings after paying of the emi for my modest house, school fees, and parents health bills. If Cisco HR is really here, please take a look at how expensive the metro cities in India are getting, and plan for appropriate adjustments.

Cisco HR at work on this board. Can confirm that Cisco Bangalore pay scale is NOT top tier and $ 30K - 40K, is certainly not upper middle class. I invite that poster to share the cost of buying an apartment and medical & education expenses to help illuminate the others.

US/Europe/Australia/NewZealand/Canada/Singapore and if able to get good paying job i.e 120K USD or more.

If he/She stays there for 10 yrs in India and once they get Green cards or Permanent residencies, They come back to India. you will see hundreds of thousands of such people in Bangalore/Delhi/Mumbai living filthy rich life. My estimate is close to 3 million people who have spent good 10 to 15 yr’s outside India and made a fortune and came back to India.

They can employ army of maids, servants and buy a big house and live king size life. Most of this people have invested in India wisely because India GDP is growing like 8% per year like clockwork . There is good chance they have doubled their return on investment in 2 yr’s and quadrupled in 10 yr’s time. if you have like 5 Million USD, they you are a King in India. System works for rich people.

If you ever see Indian staying for 10 yrs in US or any western country and don't estimate his wealth just by his way of life there .

These guys are super rich back in India and can afford all global comforts like any western rich guy. Best Thing they invest in Indian economy which will only grow from 2.5 Trillion economy to 10 Trillion in next 10 to 15 yrs. Its means if you invest wisely, your money will become 4 to 5 times.

some people got lucky if they invested 100K USD, they ended up gaining 1 million USD. It easy to evade taxes in India and show less incomes. If you are rich and Indian, you prefer to stay in India and go on vacations to western world. System is perfectly designed for Rich people. Corruption makes life easy for rich people who can buy govt officials at will

General Trend I have seen is Many Indians go to

US/Europe/Australia/NewZealand/Canada/Singapore and if able to get good paying job i.e 120K USD or more.

If he/She stays there for 10 yrs in India and once they get Green cards or Permanent residencies, They come back in India. you will hundreds of thousands of such people in Bangalore/Delhi/Mumbai living filthy rich life.

They can employ army of maids, servants and buy a big house and live king size life. Most of this people have invested in India wisely because India GDP is growing like 8% per year like clockwork . There is good chance they have doubled their return on investment in 2 yrs and quadrupled in 10 yrs time. if you have like 3 to 4 Million USD, they you are a King in India. System works for rich people.

If you ever see Indian staying for 10 yrs in US or any western country and don't estimate his wealth just by his way of life there .

These guys are super rich back in India and can afford all global comforts like any western rich guy. Best Thing they invest in Indian economy which will only grow from 2.5 Trillion economy to 10 Trillion in next 10 to 15 yrs. Its means if you invest wisely, your money will become 4 to 5 times. some people got lucky if invested 100K USD, they ended up gaining 1 million USD. It easy to evade taxes in India and show less incomes. If you are rich and Indian, you prefer to stay in India and go on vacations to western world. System is perfectly designed for Rich people. Corruption makes life easy for rich people who can buy govt officials at will

Salary range for Cisco Bangalore is Top tier. only Google,Microsoft , Amazon or Intel can better this Figures. All Major US Tech MNCs have 20 to 30% global Staff in India across different cities esp. In Bangalore and made Bangalore 2nd costliest city in India after Mumbai and Cisco salary is still very good for Indian standard of living.

Of course US offers better standard of living. its all in perspective what you see as satisfying life.

if someone is making 30000 to 40000 USD in India, can be considered as Upper middle class.

They can buy best house, Best car, enjoy all materialistic pleasure, afford costly international vacation, can send their Kids to best international schools and can afford 5 Star hospital treatment.

Please note Education and Medical is not exactly free in India like in US.

As for the SJC figures posted below, I must say that after all the whining here, I'm a bit surprised that they are quite high. I thought the numbers are lower - these are quite in line with other SV companies.

Specific to the folks in Bangalore, how does the pay at Cisco compare to the other options you have there ?

Wow, that is pretty unfair.

Any one else notice the difference in increments per grade in India is less than the increments in US. So not only is the salary less, even the difference in pay between grades is less.

Wow SJC has gotten pricey. RTP isn't anywhere close.

Cisco Bangalore Pay scales ( conversion rate 1 USD = 65 Indian Rupees)

008 CORP USD Min: 18,000 Mid: 24,000 Max 30,000 + 12% bonus

010 CORP USD min: 28,000 Mid: 33,000 max: 38,000 + 15% Bonus

011 CORP USD min: 33,000 Mid: 38,000 max: 43,000 + 15% Bonus

012 CORP USD Min: 40,000 Mid: 45,000 Max : 50,000 + Bonus

Any one ? It will help folks from being exploited.

Sorry, I do not know what the min to max range is in BLR. I hope someone here knows and will be kind enough to share.

Sorry? Demanded what? That everybody not help each other?

Exactly. Pay attention.

Mid points:

010.CORP USD c$23000

011.CORP USD c$29000

Now what was it for the US?

Guys a little help please, you won't lose anything. What is the min/mid/max for CORP G10 and G11 in Bangalore ?

Grade 8 min 85k mid 100k max 125k

What is grade 12?

I am grade 11 ansd making $190k+ and total comp of $240k+ but i am consider a specialist with only a few if any at cisco who can do my job.

@O2QaPmq-ohk

It's base only. TTC (total target comp.) for G11 is 212k at the upper end.

G11 $185K max. is base salary only or also including 15% target bonus?

What is the base CORP plan G10, G11 for India ?

I am grade 10 in the uk and make less than the mins stated here. Forget India. Move the jobs to the Uk!

That's a whole bunch of sacrificial 2018 budgeted post-LR funding for upcoming group offsite steaks and premium wines! Enjoy!

Grade 10: min 100k mid 136k max 165k

Grade 11: min 112k mid 148k max 185k

what's the range for 12?

"I am grade 11 and making 176K" - then your CR is high. You have a target on your back. Watch out.