The ₹1 Crore Salary Dream
Making ₹1 crore a year is a big deal in India. It's a sign of success, money, and comfort. But in Mumbai, this amount of money doesn't automatically mean a life of luxury. An IIM Ahmedabad alumnus who works in the city recently explained why this large number seems extremely different depending on where you are.
Thane vs. Worli – A Tale of Two Mumbais
The alumnus explained that in Thane, ₹1 crore can go a long way. You can rent a large home, drive your own car, enjoy dinners out, save, and still have peace of mind. However, when you relocate to South Mumbai or Worli, everything changes, significantly.
Rent alone might cost ₹2–3 lakh a month in expensive areas. Add fuel, groceries, tuition fees, and EMIs, and suddenly, you're left stretching your budget just to cover basics.
What’s Eating Your Income?
The ₹1 crore disappears here:
- Taxes: A significant portion is deducted before you receive it.
- Rent and EMIs are particularly harsh in South Mumbai.
- Lifestyle Costs: Dining, shopping, travel, and more
- Family Expenses: Kids’ schooling, healthcare, and household help
So, while your CTC looks impressive, your actual take-home and savings may be far less than expected.
What People Are Saying
Since many people now agree that large wages frequently don't seem like financial freedom, this candid observation has gone viral. Some even said they feel “broke” despite earning in seven figures.
So, Is ₹1 Crore Still Rich?
It depends. If you're living in Thane or Navi Mumbai, it feels rewarding. If you're based in South Mumbai, it might just be enough to get by.
Ultimately, how far your income goes isn’t just about how much you earn — it’s about where you live and how you live.
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