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?