'Investment Doesn't Always Need Extra Money. It's About Where You Deploy It'

KAILASH KULKARNI, CEO, HSBC AMC, in a conversation with Kundan Kishore, shares what he did with his first pay cheque, how his career changed his relationship with money and how he later realised that starting to save early can set you up for life. His advice to new professionals is to enjoy their first salary, but also start saving—however small the amount—and remain consistent with it.

- Kundan Kishore

Can you tell us about your first job and how much was your first pay cheque?

I completed my MBA from the Institute of Management, Development and Research (IMDR), Pune, graduating in the 1988-1990 batch. Back then, landing a job at a top company felt like winning the jackpot—and I was lucky enough to receive an offer from Eicher Motors, a premier company. My posting was in the Indore division.

My first salary was ₹3,450, which was quite a handsome sum then after providing for accommodation.

Was it enough for your needs back then?

Yes, it was enough for me from the point of view of enjoying life at the time. I was a bachelor, so I used to travel a lot with my friends on our two-wheelers, go to restaurants, and enjoy good food without having to worry about bills. But when it came to long-term planning, the answer was no. It allowed me to live well month to month, but it wasn't sufficient for serious financial planning or investments.

Do you remember doing anything special with your first pay cheque?

I did two things for myself. First, I bought something for my three elder sisters. It wasn't anything of great value—more of a gesture of appreciation. Second, I gave myself a big party with my friends. We went to a nice restaurant, enjoyed good food, and just celebrated the milestone of my first pay cheque. It was a special moment, something I might not have been able to do otherwise, and it made that first salary truly memorable. I wanted to celebrate the first pay cheque.