Is ₹84 Lakh In America POOR??? | My Honest Experience Of America

Summary

In this insightful video, the host explores the debate on cost of living and salary parity between India and the US. Traveling to top American cities, he investigates the real value of $100k in the US, comparing it to the equivalent in India. Through personal experiences and interviews, he uncovers the high cost of living in cities like San Francisco and New York, the nuances of purchasing power, and the stark realities of life in America, including healthcare costs and societal issues, ultimately questioning the true essence of the 'American Dream'.

Takeaways

• 📊 The video discusses the concept of Purchasing Power Parity (PPP), which compares the cost of a basket of goods between different locations to determine the real value of money.
• 💼 The debate on the equivalent value of a $120k salary in the US versus ₹30 lakh in India sparked the creator's curiosity to explore the cost of living in the US.
• 🌐 The creator traveled to top US cities to gather firsthand experience and data on the cost of living, aiming to provide an accurate comparison of price parity.
• 🏠 Housing costs in cities like San Francisco are significantly high, with even an hour's drive from the city center requiring a rent of around $3,000 for a one-bedroom apartment.
• 🍔 The cost of food in the US is also high, with a meal easily costing $30-$70 for two people, and tipping being an expected additional expense.
• 🚗 Cars are cheaper in the US, and the public transportation system varies by city, with some areas relying heavily on personal vehicles or ride-sharing services like Uber.
• 🏥 Healthcare in the US is extremely expensive, with high costs for consultations, tests, and procedures, emphasizing the importance of health insurance.
• 👮‍♂️ The video highlights issues like vandalism and theft in San Francisco, attributing it to a law that reduces the severity of theft under $950 to a misdemeanor.
• 🌆 The creator contrasts the impressive infrastructure and economic opportunities in the US with the stark realities of homelessness, drug issues, and safety concerns.
• 💡 The video suggests that the cost of living and quality of life in the US can vary greatly depending on factors like location, lifestyle, and personal choices.
• 🌟 The creator concludes that while the US offers opportunities for higher earnings and a different lifestyle, it also comes with its own set of challenges and considerations.

Q & A

What sparked the debate on India vs. America price parity mentioned in the video?

A tweet went viral comparing the cost of living and salary equivalence between India and America, suggesting that a 30 lakh salary in India is equivalent to earning $120k, or about a crore in America, which ignited the debate.

What is Purchasing Power Parity (PPP) and why is it significant?

Purchasing Power Parity (PPP) is the ratio of the price of a basket of goods in one location to the price of the same basket in a different location. It's significant because it helps compare the real value of money between different countries and adjust GDP to reflect economic performance.

According to the OECD and World Bank, what is the PPP equivalent of $100k in India?

The OECD states that $100k is equivalent to ₹23 lakhs in India, while the World Bank suggests it's ₹21 lakhs.

What was the purpose of the video creator's trip to top American cities?

The video creator traveled to top American cities to find out the actual cost of living in America and to provide an accurate answer to the question of price parity between India and the US.

What was the surprising revelation about the salary of a driver in San Francisco?

The surprising revelation was that a driver in San Francisco was making $100,000 a year, which is equivalent to 84 lakhs in Indian rupees.

How does the cost of living in San Francisco compare to other areas in the US?

San Francisco has a significantly higher cost of living compared to other areas in the US, with rent for even an hour's distance from the city center starting at $3,000 per month for a one-bedroom apartment.

What was the video creator's experience with tipping culture in America?

The video creator found the tipping culture in America to be peculiar and mandatory, with even self-service kiosks demanding tips, adding an extra 10-15% to the cost of meals.

What are some of the challenges faced by store owners in America due to local laws?

Store owners in America face challenges such as high rates of theft due to laws like California's prop 47, which classifies theft of property under $950 as a misdemeanor, not a felony.

How does the video creator describe the discrepancy between the perceived image and the reality of San Francisco?

The video creator describes a discrepancy where San Francisco appears developed and safe due to its infrastructure and tech advancements, but in reality, it has issues like homelessness, drug crises, and high rates of theft.

What are some of the advantages of working in America according to the video?

Some advantages of working in America include faster promotions, the potential to reach a $250k salary in less than 3 to 4 years, fixed working hours, paid overtime, and weekend offs.

What is the video creator's perspective on the Indian talent pool and their potential in the global context?

The video creator believes that Indians can survive and thrive anywhere in the world due to their hardworking nature, which is ingrained in their DNA. Indians are raised to be determined savers and can outperform their peers globally.