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  • Category: Group Discussions

    Present salaries far better than old days’- able to meet basic needs and save more; Discuss.

    I put forth this thread topic for a genuine discussion and to bring facts and experiences of elders about their salaries and wages; and from youngsters on same thing. The intention is to exchange information and experience and to be mutually aware and avoid misunderstandings and misconceptions.
    There is no jealousy involved here. Sometimes my assumption may be wrong also. So I need to be corrected. The intention is to make a fair comparison of the salaries of various times viz-a-viz their ability to meet the essential and basic needs as per cost and availability at the relevant times.
    Just to kickstart I take the comparison of one essential item and one non-essential item as standard for my comparison:
    Gross Salary as fresher in 1980- Rs700; 2016 -25000(average)
    1980-Gold cost of 10 gm–Rs 1300 ; 2016 -25000
    1980 –hotel plate meals Rs 3.50; ; 2016 - 45
    Rice plate was 0.5% of salary in1980.But in2015 it is just 0.18%.
    Similarly 10 gm gold was almost two months salary in 1980 where as in 2015 same amount of gold comes in one month salary.
    So present day salaries can fetch more than what the salaries fetched in early time. Savings then was much difficult as salary was not fully sufficient to meets the essentials also. Do today's earners save better?
  • #573600
    I do agree with the author that the present take home salaries in government, banking and private sectors are good. And the same time it is getting over with to much cost escalation in each product. I just wonder as to how my father was manning the family with paltry sum of 180 during his young age with 10 members of the family. He was the only bread earner and we were all child. Yet he was giving us regular food and clothes and were really happy. Now with so much salaries we are unable to meet certain urgent commitments and we are postponing the same for shortage of money. So what I mean to say that there is no Barkat in our earnings now.
    K Mohan
    I consider myself as the learner everyday

  • #573603
    A thought provoking thread indeed. I think the main difference has occurred due to introduction many new heads for expenditure in the modern times.
    Generally, in a family of parents and two children, a bulk of expenditure is required to be incurred for the children in the form of paying their school expenses ( which includes tuition/coaching fee, conveyance fee, pocket money, educational supplies etc.), their dresses and gifts and other expenses like phone bills/petrol expenses etc. Accordingly to a crude estimate, more than 50% of the expenditure may be related to expenses on the children. Earlier, the cost of raising/educating children was much less. Also, the expenses related to ostentatious or pretentious activities was limited. The electricity bill was less in the absence of air conditioners, refrigerators, washing machine and geysers like power guzzling gadgets. Petrol expenses were limited to that of a two wheeler for the families who were luckier to have one. There were no beauty parlours to charge thousand of rupees for an hours session of facial and the expenses on cosmetics were frugal.

    Let us encourage each other in sharing knowledge.

  • #573612
    In those early years,adulteration and pollution was less.Women at home used to buy groceries and prepare meals for the whole family where there were huge joint families and everyone used to chip in to support the family.Clothing,food,school fees and cost of living was appropriate according to those circumstances and social environment.Nowadays,there is so much adulteration in even fruits and vegetables that we can't blame people for spending more on ready-made stuff and packaged food.Health is deteriorating fast even in little children and getting them.vaccinated is also a huge expense nowadays.Cost of living,school fees with donation demands,never ending pressure of si called modern way of dressing etc is burning a hole in the pocket in even a middle class family.
    A comparison has to be made in reference to the social and family lives,alternatives available and awareness among people when comparing the salaries and way of spending of the nineties and today.

    Regards,
    ar
    "If things go wrong, don’t go with them"

  • #573613
    Though the present salary structure is good and more than that of one in olden days. But the cost of living is according to the earnings only. In those days the cost of gold is not a comparable one with present day. In my school days (not long long ago, only in 1962-72, the cost of one dosa was only 15 paise, now the cost of dosa is Rs.75. It is not to blame any one but the cost is fixed like that only. As quoted by the author if there is savings with the present salary (higher one as told)it is good but people drawing more salary have more plans than the salary level. Moreover they are not in savings line but in the borrowing line for their two wheeler or car or house, that too beyond their level of income. I saw two girls were talking in an electric train at chennai to tambaram one evening of friday as they are planning to go to beach on the next day. One girl on the suggestion of other called her another friend over mobile and told her to bring 5000 rupees for expenses. If extravagantly they are spending, where the thought of savings will come? Today, there is an announcement of decrease in petrol/diesel price but who will directly benefited? Only those possessing two wheeler or car and not for the Bus or auto travelling people. So, the salary in higher quantum is still insufficient to many people.

  • #573618
    From the just three responses till now, some good pints have come:
    1. Mohan vide #573600 " I just wonder as to how my father was manning the family with paltry sum of 180 during his young age with 10 members of the family."- I also ask the same question sometimes myself.

    2. Kailash Kumar vide his post #573603 "...the main difference has occurred due to introduction many new heads for expenditure in the modern times. ". I totally agree to this. In fact I saw my old monthly budgets in one or two old diaries. I found that the escalation in expense is not in essentials, but in non-essential 'necessities' of modern life like cable TV, internet, movies, electricity etc.

    3. Ar in her post#573612 has mentioned "Cost of living, school fees with donation demands, never ending pressure of si called modern way of dressing etc. is burning a hole in the pocket ...." . I have to agree. I had studied in a government school where there was no fees. Tuition or 'coaching' was not common and seen with less respect and meant only for lazy students.

    I would like to see more specific data comparison to arrive at some factual or statistical data for a fair inference. Let us await and hope to see response from more members.

    ==================================
    Let us keep faith on ourselves and work sincerely, not leave everything to fate.


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