8 steps to get RICH from a job in INDIA! | Akshat Shrivastava
Summary
TLDRThis video offers insights on building wealth through a career rather than business, inspired by Sundar Pichai's journey. It emphasizes the importance of education, working at gold standard firms, and owning equity. The speaker shares strategies like attaining leadership positions, saving, and investing in high-growth industries. They also highlight the benefits of personal branding, multi-dimensional skills, and working abroad to lower taxes and increase savings, aiming for financial freedom.
Takeaways
- đ Building wealth through a job is possible and can be achieved by following certain strategies and lessons from successful individuals like Sundar Pichai.
- đ« Education plays a crucial role in wealth building; Sundar Pichai's journey highlights the importance of obtaining a good education from prestigious institutions like IIT and Stanford.
- đą Working with gold standard firms such as Google, McKinsey, and other top-tier companies can significantly boost one's career and visibility, leading to faster promotions and wealth accumulation.
- đŒ Engaging in critical initiatives, such as launching Google Maps, can enhance visibility and contribute to career growth, which is a strategy Sundar Pichai utilized effectively.
- đ Owning equity in a business is a key strategy for wealth creation. Sundar Pichai's wealth is largely attributed to his ownership of Google's stock, illustrating the power of equity over salary alone.
- đŒ The importance of working in industries where salary growth exceeds inflation is emphasized, as failing to do so can lead to financial decline.
- đ° Lifestyle inflation can offset salary increases, making saving a critical habit for wealth accumulation. It's essential to manage personal finances wisely to avoid working towards poverty.
- đ Pursuing gold standard jobs is advised as they offer better opportunities for career progression and are more likely to provide a stepping stone to higher positions in the industry.
- đ ïž Cultivating multi-dimensional skills, such as analytical skills, structured communication, and problem-solving, is essential for career advancement and wealth creation.
- đ Being in the right industry at the right time is crucial for wealth accumulation. Focusing on high-growth industries and understanding where the next layer of growth might happen can significantly impact career success.
- đ Working abroad can provide tax advantages and higher savings rates, which can accelerate wealth creation. Understanding the financial benefits of working in different countries is important for maximizing savings and investments.
Q & A
What is the main theme of the video script?
-The main theme of the video script is to provide insights and strategies on how one can get rich through a job, inspired by Sundar Pichai's journey.
What is Scala School of Business and how does it relate to the video's theme?
-Scala School of Business is an institution offering a full-time Management program aimed at helping individuals attain leadership positions. It is related to the video's theme as it suggests a pathway to wealth through education and leadership roles.
What are the key strategies discussed in the video for wealth building through a job?
-The key strategies include obtaining a good education, working with gold standard firms, working on critical initiatives, and owning equity in a business.
What does the term 'gold standard firms' refer to in the context of the video?
-In the context of the video, 'gold standard firms' refers to top-tier companies in growing industries, such as Google, Meta, and Amazon, known for their excellent brand names and opportunities for career growth.
How does the script suggest one should approach salary growth relative to inflation?
-The script suggests that one's salary growth should be greater than segmental inflation, meaning that if the industry's growth is limited, one may need to consider changing industries to achieve a higher salary increase.
What is the significance of cultivating multi-dimensional skills according to the video?
-Cultivating multi-dimensional skills is significant as it allows individuals to combine various competencies, making them more valuable and versatile in their careers, which can lead to wealth accumulation.
What is the importance of owning equity in a business as mentioned in the video?
-Owning equity in a business is important because it can lead to significant wealth if the company performs well. It provides an opportunity for employees to benefit from the company's growth beyond their regular salary.
How does the script connect the idea of working in the right industry with wealth building?
-The script connects the idea by emphasizing the importance of being in high-growth industries where one can capture the best phase of industry evolution, leading to substantial wealth accumulation.
What is the role of personal branding in the context of the video script?
-Personal branding is highlighted as a way to share useful information about one's industry, build a reputation, and open up opportunities for career growth and wealth building.
Why should one consider working abroad according to the video script?
-Working abroad is recommended because it can offer tax advantages and higher savings potential, which can accelerate wealth building and provide more financial freedom.
What is the script's stance on the importance of saving and managing lifestyle inflation?
-The script emphasizes the importance of saving and managing lifestyle inflation by suggesting that increasing one's lifestyle at a rate higher than salary growth can lead to financial instability.
How does the video script address the concept of risk-taking in the context of salary increases?
-The script suggests that salary increases often come with taking higher units of risk, and having a fallback plan or additional income streams can enable one to take on such risks.
Outlines
đŒ Building Wealth Through Jobs
The video introduces the concept of getting rich through a job rather than just business. The speaker will discuss strategies and lessons from Sundar Pai's journey, emphasizing the importance of leadership positions. The Scala School of Business is highlighted as a program that can help achieve leadership roles, with a high placement rate and median CTC of 25 lakhs. The speaker also mentions the need to understand the 'math' of getting rich, which involves salary growth exceeding inflation and managing lifestyle inflation.
đ Achieving Gold Standard Jobs
This paragraph delves into the importance of securing a 'gold standard' job, which typically involves working for top-tier companies in growing industries. The speaker explains the tiers of jobs, including gold, silver, and bronze standards, and how they can be used as stepping stones to higher positions. The emphasis is on cultivating multi-dimensional skills, combining analytical, problem-solving, and execution skills, similar to Sundar Pai's career path. The speaker also mentions the benefits of working for gold standard companies, such as easier transitions to other top-tier jobs.
đĄ Developing Multi-Dimensional Skills
The speaker discusses the importance of developing a combination of skills to enhance career prospects. Sundar Pai's career is used as an example, showing how he combined analytical skills from IIT, problem-solving from McKenzie, and execution skills from Google. The speaker encourages viewers to develop skills like structured communication, tech knowledge, and financial management. An investing course is also promoted as a way to build investing skills and manage personal portfolios.
đ Choosing the Right Industry and Equity Ownership
The speaker advises focusing on being in high-growth industries and emphasizes the importance of owning equity in a business. Examples are given of how employees can become millionaires through equity ownership, such as in the case of Nvidia. The speaker also discusses the benefits of working in the right industry at the right time, such as Sundar Pai's career during the tech boom. Personal branding and creating additional income streams are suggested as ways to manage risk and explore career opportunities.
đ Exploring Opportunities for Growth and Income Streams
The final paragraph focuses on the importance of being in the right industry and having a fallback plan for taking risks. The speaker suggests exploring high-growth areas like AI, machine learning, and web 3.0. Personal branding through social media and creating income streams through investing or property management are highlighted as ways to build financial freedom. The speaker also encourages considering work opportunities abroad for better tax benefits and savings.
đ Conclusion and Call to Action
The video concludes with a summary of the key points discussed and a call to action for viewers to apply the strategies shared. The speaker encourages viewers to build wealth through jobs by understanding the math of wealth accumulation, securing gold standard jobs, developing multi-dimensional skills, and owning equity. The speaker also invites viewers to like the video and hints at future content.
Mindmap
Keywords
đĄWealth Building
đĄLeadership Positions
đĄGold Standard Firms
đĄEquity Ownership
đĄSalary Growth
đĄLifestyle Inflation
đĄMulti-Dimensional Skills
đĄESOPs (Employee Stock Ownership Plans)
đĄSignaling Effect
đĄPersonal Branding
đĄRisk Management
đĄTax Efficiency
Highlights
Sundar Pichai's journey offers insights into getting rich through a job rather than just businesses.
Scala School of Business offers an 18-month full-time Management program to help attain leadership positions.
Scala has a 96% placement rate with a median CTC of 25 lakhs, verified by B2K analytics.
Sundar Pichai's wealth-building strategies include a good education, working at gold standard firms, and owning equity.
Salary growth should exceed segmental inflation to avoid financial decline.
Avoid increasing lifestyle costs at a rate greater than salary growth to prevent poverty.
Cultivate multi-dimensional skills for career advancement, as demonstrated by Sundar Pichai.
Equity ownership is a key strategy for wealth accumulation, as seen in Pichai's compensation from Google stocks.
Being in the right industry at the right time can significantly impact wealth, as Pichai did with Google during tech evolution.
Having a fallback plan or additional income source allows for taking higher career risks.
Personal branding through sharing industry knowledge can open up new opportunities.
Working abroad can provide tax benefits and increase savings potential.
Investing and preserving capital are crucial for financial freedom and enjoying life.
The importance of saving and investing early in one's career for long-term wealth.
The concept of 'gold standard' jobs and how they can facilitate career progression.
The significance of being in high-growth industries for career advancement and wealth creation.
The role of personal branding in overcoming the 'crab mentality' and growing one's career.
Transcripts
hi everyone welcome to today's video so
Sund Pai Journey offers us an excellent
insight as to how you can get rich by
doing a job now most of us think that in
order to get rich you need to do
businesses is that stuff but no you can
actually get rich by doing a job so on
this video I'm going to give you simple
tips strategies decoding Mr Sundar pai's
Journey how he got rich what are some of
the lessons that we can take from him
apply it change it a little bit modify
it and apply it in 2024 so so I'm going
to break it down in very simple easy to
understand words I'll give you just
seven eight critical points I will also
bring in my journey of working as a
Management Consultant building startups
then being on YouTube doing personal
branding etc etc so all these things I
will combine and present it in
actionable format so very important
video in case you are looking to get
rich through a job so I'll help you
understand the entire math but one of
the key things that goes into getting
rich is to attain leadership positions
so let me introduce you to Scala School
of Business they offer an 18 mon
full-time Management program which is
designed to help you get into leadership
positions the program is taught by
leaders who have built billion doll
businesses since Scala has been in
existence for 7 plus years they have
access to 1200 plus company Partners
like Google Bane Capital Amazon that
very few Business Schools in India offer
their online program has seen roughly
96% placement rate with a median CTC of
25 lakhs now this has been verified by a
company called as B2K analytics which is
the same company that does verific ation
for I im's placement reports as well the
founding cohort launches in August of
2024 so in case you are interested in
applying for 100% scholarships you can
check out the links in the description
and comment box so okay back to the main
video now let me first decode very
quickly what Mr Sundar pai's journey is
and what are four five central things we
can learn from him so if you look at
this chart you will see that number one
strategy in terms of Mr Sund pai's
wealth building Journey was to get
really good education so he went to IIT
he went to Stanford then he eventually
did his MBA and then he scaled up in his
career his second strategy was to work
with gold standard firms now what is the
meaning of gold standard for example he
works at Google right now so it is a
gold standard extremely good company top
of the line similarly he worked at
McKenzie as a Management Consultant
again that was gold standard third he
worked on critical initiatives now what
is the meaning of that for example he
worked on launching Google Maps now
that's a critical initiative he took at
Google which kind of increased his
visibility and probably helped him get
faster promotions at Google fourth now
again going back to that WhatsApp
University chart and all that stuff
maybe true maybe not true I don't know
it's highly variable but now most of his
compensation actually comes from owning
the stock of Google so the fourth and
final strategy that Mr Pai has used is
very simple that he actually owns equity
in our business so yes he started his
journey by doing a job but eventually he
ended up owning Equity how about you're
trying to confuse us on one side you're
saying that okay get rich through a job
but on the other side you're talking
about owning equity in a business well
by doing your job really well you get to
own Equity so I'll explain that
subsequently on the video but anyways
now let me give you a simpler framework
and let me discuss 8 10 points as to how
you can build wealth by doing a job so
in order to build wealth from a job you
first and foremost need to understand
the math behind getting rich so see the
math of getting rich is very very simple
and there are two form in a way that you
need to remember the first Formula is
that your salary growth should be
greater than your segmental inflation
now what is the meaning of that for
example you know when if you for example
a manager at a particular Factory and if
that factory let's say for example
produces sugar now the salary increase
typically your factory manager does not
happen really really fast now why is
that the case because the sugar
industry 5% maximum then how can your
salary grow by 10% or more that becomes
an issue and in majority of the middle
class cases for example if you are
sending your kid to a non-government
school then most likely the increase in
fees will be like 10% your increase in
rent is like more than 10% etc etc so a
segmental inflation to at least 10 so
first and foremost formula of getting
rich through a job is to work in
Industries where your salary growth will
at least be 10% if it is not growing at
10% then you possibly need to look at
changing your industry if you don't do
this then every year you are working
your way towards poverty the second key
concept is that okay fine you are making
money but at the same time you are
increasing your lifestyle now this is a
very common problem with youngsters
these days salary wor 10% say but they
increase their Kaa by like 20% so in
real terms again they are working their
way towards poverty now i' done a
LinkedIn post where I'd explained my own
Journey that when I started my career I
used to work with a nonprofit
organization and my salary was like
somewhere around 10 to 12,000 R
and because I was living with my parents
and I used to invest that money now this
is not a push that you guys also go and
invest and all that stuff nothing of
that
sort but the point is that inculcating
that habit of saving is absolutely
critical saving it has fallen to the
lowest ever levels in the last 15 years
our household debt has increased at its
highest level in the last 15 years now
people who are not getting these points
are going to get hit hard so first and
foremost you need to sort out both these
equations irrespective of your salary
you have to figure out a way to save
something so this is literally step
number one
because but if you're not saving
anything out of it it does not really
help okay so Point number two is that
you should figure out a way to get a
gold standard job now let me help you
understand the tiers of jobs that exist
so one would be gold standard jobs for
example these will be topend companies
in certain growing Industries for
example if we pick Tech
then Google meta Amazon these are top
tier gold standard companies which have
an excellent brand name now why am I
calling these gold standard company the
reason is very simple that if you have
worked as a product manager at Google
and if you are trying to let's say come
and work with a startup then finding
employment is very easy but on the flip
side if you have only worked in a
startup then finding work with Google or
top tier companies might be tough now
I'm not saying that every time that will
be the case but I'm just trying to help
you understand Gold Silver and and
bronze standard jobs so these are gold
standards then you have silver standard
jobs now what are silver standard jobs
these would possibly be considered as
good jobs but not like highend for
example top three four management
consulting firms BCG Bane McKenzie
dalberg all these companies might be
considered as gold standard but if you
go below that then they might be
considered as silver standard then
finally comes Bron standard jobs now
bronze standard jobs have a very
significant
feature right people just come get
trained very quickly leave okay I would
say and I do not mean to hurt anyone
sentiments but according to me these
would be companies like like for example
let's say TCS now these are companies
that primarily work on cost cutting
people just want to get a very quick
brand step by step we will keep going up
right so this is not like Google kind of
scenario then you can pretty much hunt
and work with a range of companies if
you work with TCS then switching might
be little bit tough right but you can go
step by step step now the good news is
that whether you are working with gold
standard silver standard bronze standard
jobs there is always a pathway to move
to Gold Standard okay so what do I mean
by that so let me draw a graphic and
show you so for example if you're
working with a bronze standard firm
right and the goal is to reach from here
to here right so here it might take you
like two three switches to get to a gold
standard job right but if you're working
with a very good firm right for example
tier Consulting fir you want to move
toer one so that is an easier path
because you just need to make one switch
so the key takeaway that I will give you
is that irrespective of the job
situation you are in there is always a
path for you for example you might have
to make four five switches maybe someone
would need to make maybe only one switch
right but there is a path for you and
you should be focused on that path
rather than just simply saying or you
know cribbing about your job etc etc the
goal is to get to a gold standard
company or at least get that brand
stamed on your CV because it generates
something called a signaling effect
signaling effect once you get Google
McKenzie BCG ban on your resum it
indicates to any future employer that
hey you know what you have been trained
by a gold standard company and you know
yeah so they start trusting you a little
bit more so Point number three is that
you should cultivate something called as
multi-dimensional skills now if we just
look at Mr Sundar pai's career path what
has he been able to combine well he has
been able to combine a lot of things now
but for example he graduated from an IIT
so he had probably very good analytical
skills then he did a Ms then he finally
did an MBA so intersection of skills
this intersection is what is critical
now this is something that he continued
to do in his career also for example he
first worked at McKenzie so McKenzie
problem solving analytical
SKS structured communication skills
problem solving skills right then he
worked with Google as a product manager
so he probably learned how to execute
things right I mean this is like a mini
CEO role product manager you are
responsible for a very small project
within a large set of a company so he
must have executed that really well so
this is a combination of skill one two
so this is this gives you like very very
hard skills this gives you like
practical skills so you combine these
three four five important skills
depending on whichever industry you are
in and that leads to a combination of
skills people often come to me and ask
me that a you know what I'm a CA student
what skill can I develop okay you
probably know a little bit more Finance
than the general J so what should you
focus on probably structured
communication learn how to do that right
learn a little bit more about tech learn
how codas things learn about data
security etc etc there are so many
things so it is always about building a
combination of skills so Mr Sund Pai has
also done it and I've seen a lot of
successful people do something very
similar Finance they definitely know how
to manage money they are very good at
managing money they are very good at
communication they are very good at some
core skill and anytime they are focused
on generating that combination of skills
I also run an investing course so in
case you guys are interested in learning
more about macroeconomics how to do
investing properly how to manage your
own portfolio do consider checking it
out it's a live course it is taught over
four weekends it's very very intense so
that intense learning is going to help
you out a lot then we end up practicing
whatever we have learned over a course
of one year so we have put on wisdom
hatch Community you get regular updates
from my site so Market you understand it
so I feel that that is a very good way
of building investing skills it's a very
structured program lot of people have
benefited you can check out some of the
testimonials and in case you guys are
interested the seats are limited do
definitely check it out so okay so with
that said that once you have developed a
combination of skills your focus should
be to own Equity somewhere there is a
reason why that people switch jobs from
McKenzie to start or from Google to a
start why do people do it because they
own something called as esops so that is
very very important
bit for example that you have joined a
startup right at very early stage you
gain some Equity now over time that
startup becomes really big right and you
end up iping or the value of that
startup grows you do a secondary sale
whatnot then the value of this
percentage of equity that you command it
grows really really big recently news NV
stock has become crazy in the last one
odd year and and almost 75% of Nvidia
employees are millionaires double check
this number looks a little bit
unrealistic you guys let me know that
this is really true or not but this is
very interesting that a bunch of
employees became millionaires because
they were owning esops so the reason why
many people go from gold standard jobs
to you know building companies ET is
that they get a chance to own Equity so
if at any stage in your life you get a
chance to own Equity that is very
useful right so for example let's say
that you are doing a job and you are
making let's say 5 lakh rupees a month
right and you are at a senior position
all that stuff now this salary pay there
is no PE multiple Market okay but if you
own a let's say 5% of a particular
company where you are working now on
that company you will always see a PE
multiple now what is the meaning of this
multiple
almost HDFC Bank you know it's trading
at like 20K P some other stocks trade at
like 50k P what is this 50 20 you know
10 well it is called as valuation
multiple multiple that happens on owning
Equity it does not come on your salary
so this is a very very important
insightful point that you should know so
then comes the fifth point and there is
a very good saying I think it was Nal
raik and I'm just paraphrasing raing it
so he basically said that it does not
matter that much that how hard you are
Ru right if you're sitting in a boat
you're Ru it but it matters more in
which type of boat you are R I'm just
paraphrasing it in essence what he's
trying to convey is that see you need to
be at the right time in the right
industry and this could not be further
away from the truth for example Journey
so probably he was able to capture the
best phase when it came for Google time
Google tech evolve that was probably the
highest growth industry right in the
last two odd
decades right and you were able to go
and grow within that industry so that
led to a lot of wealth for you now we
are all investors and that if you are
able to catch a couple of bull runs
portfolio portfolio will grow like crazy
you can generate generational
wealth so this is one Bull Run the
second Bull Run
ini inv it became 900 so from 100 you
made like
900 in the first Bull Run and you're
able to capture two bull runs you have
generated generational wealth so
something similar happens if you're able
to get into the right set of Industries
now let me help you further refine this
point see right now many kids start
their careers in let's say backend it
nothing wrong in it it's hardworking job
you'll learn a lot of stuff but always
figure out where the the next layer of
growth might happen for example right
now it might be an artificial
intelligence machine learning probably
building data libraries or generative AI
so these type of things are trending
please learn more about it web 3.0 it's
not dead it is still alive and thriving
now this type of work might not be
happening in India so therefore a lot of
people are not getting exposure so
figure out you know what where can I get
an internship right can I go to Dubai
and get an internship or can I you know
work with a startup in Europe there are
so many possibilities options even if
you get a little bit of exposure it can
just Skyrocket your career like anything
and especially if you do this at an
early age so the fifth point being that
you need to focus on being in the right
industry or at least figuring it out
industry where the highest growth areas
are so always be in those type of high
growth industries then comes the next
point that if you are in a job your
salary increase will come by taking
higher units of risk and the only way
you will be able to take higher units of
risk is is that if you have a fallback
plan if you have an additional source of
income if you are able to preserve your
downside now this is something that I
keep on saying what are some simpler
things that you can do for example I
meet a lot of young professionals they
say you know what I an IT professional
I've been working in the it space for
the last 105 years mazara I'm looking
for switching my work what should I do
then I ask them that okay what how much
runway you have how long do you have
before you have to find a job the
question I don't have a you know OK size
portfolio also savings maybe like 5 six
seven months I kept on traveling I kept
on spending money see then okay fine you
enjoyed the life but now you have put
yourself in a situation where you are
dependent on your job so at least that
situation should not be there these days
there are so many options in terms of
building your income streams for example
investing it's really important if you
have little bit of money Capital then be
an Airbnb owner also or a short-term
owner also that becomes another layer of
income Stream So income streams create
absolutely critical not because you
running after money because it gives you
a lot of freedom in order to do slightly
riskier things in your career and that
is absolutely critical if you are not
doing that then you're not exploring
those high alpha opportunities so now a
lot of people will say you know what our
organization does not allow us to do
parallel work and generate parallel
income for example director in any
private limited company or my company
will call it Moonlighting this that
stuff that's a legitimate concern so
what is it that you can do so we go to
point number seven by personal
branding
ltter you guys start writing a little
bit of stuff about the industry you are
active in start sharing useful
information about that industry
now my colleagues do not like
it and all that see guys in India people
have a disease of crab mentality if they
see anyone growing they will pull their
leg down okay that is how it is it's
unfortunate but that is where we are
forget about those people they will not
give you 100 rupees if you are in some
kind of financial stress okay so stop
bothering about them right all you need
to figure out is that how you need to
grow truthfully and honestly by doing
hard work as long as you're doing it you
don't need to hear about everyone's
opinion now building a personal brand is
not something that a company will stop
you from they cannot say that you know
what do not talk on LinkedIn or it's to
write on LinkedIn or it's illegal to
write on
Twitter at least have that going for you
so there is nothing wrong in terms of
doing that it does not require crazy
amount of time writing one LinkedIn post
a day or one Twitter post a day does not
take you years right it probably takes
you when you start maybe it will take
you one one and a half hours but as you
progress as you practice more this time
will come down and it would allow you to
build a personal brand along the
way this experiment failed move on to
the next thing for example you can write
a small ebook which is helpful you can
do a bunch of different different things
to get that personal brand out then
comes the last point that see like Sund
P you should also focus on opportunities
where you can work abroad why because
the primary advantage of working abroad
is that it allows you to lower your
taxes in majority of the part of the
world or it gets you better return on
your taxes and at the same time increase
your savings for example it is much
better to work on a
$150,000 salary in us and say give at
the end of the year maybe like $40,000
because that 40,000 is how much it's
around like 30 35 lakhs versus getting a
1 CR salary in India paying like 35 40%
tax here and at the end of the day
saving only 10 15 lakhs because that
Corpus that you will make of 40 45 lakhs
which you are building and if you get
that cash in hand so to say then you can
do a lot of things with it for example
you can invest you can grow it
faster so please understand about the
savings concept if you apply these seven
eight key rules that I'm telling you you
will be able to build better wealth you
will be on a faster track to Financial
Freedom and hopefully it will allow you
to enjoy your life more so that is the
spirit with which I sh this video If you
enjoyed it do press a like button and I
will see you soon
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