Should You Move from a 30 LPA Job to a 12 LPA CAD Job in Canada?

The decision to leave a lucrative job in India for a new job in a different country is never easy. This article aims to help you understand the cost of living and currency exchange rates between India and Canada, and provide valuable insights to make an informed decision.

Understanding the Impact of Currency Exchange Rates

The cost of living and currency exchange rates between India and Canada can significantly alter the perception of salary. For example, a salary package of 30 lakhs Indian Rupees (INR) in India would roughly translate to around 52,000 Canadian Dollars (CAD) annually, considering currency variations and the lower cost of living in Canada. This means that a salary of 12 lakhs INR in Canada might appear considerably higher when converted to Indian rupees.

The Transition from Salary to Net Take-Home Income

When moving to Canada, the first thing to consider is the difference in tax rates. In India, tax rates are progressive, and a high salary means more tax. In Canada, the tax system is also progressive but has a lower threshold for higher tax brackets compared to India. Additionally, benefits such as medical insurance, public transport subsidies, and other perks offered by the Canadian job can offset the perceived lower salary.

Assessing Cost of Living in Canada vs. India

The cost of living in Canada is higher than in most parts of India, especially in cities like Toronto, Vancouver, and Montreal. This includes housing, healthcare, utilities, and other essential expenses. However, if you are willing to relocate to smaller cities or towns in Canada, the cost of living might be more manageable and closer to that of India.

Exploring Opportunities in Canada

While a salary of 12 lakhs INR in CAD might seem lower, it is essential to consider the scope of job roles and career growth in Canada. Many tech companies in Canada offer competitive salaries and benefits, particularly those with a focus on technology and engineering. Moreover, companies such as IBM, Microsoft, and Facebook often have offices in Canada, providing excellent opportunities for career development and growth.

Alternatives to the 12 LPA CAD Job in Canada

It is important to consider other factors such as work-life balance, career growth, and job satisfaction before leaving a 30 LPA job in India. In Canada, salaries in the range of 80,000 to 200,000 CAD per annum are considered reasonable for salaried jobs. However, it is crucial to assess whether such a job offers the same level of perks, benefits, and work environment as your current job.

Closing Words

The decision to move for a job offer should not be taken lightly. A salary that seems lower after conversion to Indian rupees might still offer significant benefits such as job stability, growth, and an improved quality of life. It is crucial to conduct thorough research and consider all aspects before making a decision.