Can you earn in dollars and spend in rupees? We get people living abroad to tell us if the grass is actually greener on the other side.
Rohini Sharma works for an IT company in the US and earns $1,50,000 a year. While her parents are ecstatic about this, what they don’t consider are her sky-high expenses for rent, food, travel and other basic needs. The purchasing power parity theory comes handy in such moments, says author Rashmi Bansal. It explains how to estimate what the exchange rate should be in order to have equal purchasing power in any two countries. According to The Economist’s Big Mac index for 2016, the cost of a Big Mac in the US is $4.93, while it is $1.90 in India. By that standard, Rohini’s salary in Indian terms is in the modest range of ₹27-32 lakh.
SAFE LANDING
This story is from the October 02 2016 edition of Femina.
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This story is from the October 02 2016 edition of Femina.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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