Top One Percent: Are Hindus the New Jews in America?
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ST1976
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the industries which feed to US's people, are they their own people? think again?
are they bringing 'officers' to make their people labours? is it true?
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ST1976
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It is true majority urban dominant castes going abroad.But they still had to ace the entrance exams to get into top Indian universities like IIts and IIMs. It is sheer hard work, ethics and modicum of grey matter is needed to ace these exams. It is the top creme who make it. After completing their bachelor degree they go for US higher education. Anyone can follow their trajectory for getting high income jobs. In fact most immigrants on student visas follow this route to get into US.
Others like Gujjus and Punjabis succeed in businesses like convenience stores, motels, and gas stations.
mainly Upper Caste people visited US-West-OECD countries. and they were all the types of people. ....
those who fail in IIM-IITs are in big number and nearly miss the mark. ... second ranked-grade people of South Asia were also no less competent as compared to those who get admission in top institutes
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ProudThamizhan
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this is correct except the "upper caste" people part. May be it was true long time ago, I dunno. But nowadays every community and caste has quorum and they are all uniformly successful. there are exceptions of course.mainly Upper Caste people visited US-West-OECD countries. and they were all the types of people. ....
those who fail in IIM-IITs are in big number and nearly miss the mark. ... second ranked-grade people of South Asia were also no less competent as compared to those who get admission in top institutes
Even Pakistanis are doing Ok, though their numbers are small. In NYC I was told some of the Indian restaurants are actually owned by Bangladeshis. I went to one of them and it was gorgeous.
And it figures. After all these three countries haven't been separate even a 100 years, many people who come from there still have grandparents that lived in India before Pak or BD came about. The well intentioned and cultured families therefore have identical work ethic whether they are now in Pak or BD.
PradoTLC
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Top One Percent: Are Hindus the New Jews in America?
Hindu Americans have surpassed Jewish Americans in education and rival them in household incomes. How did immigrants from India, one of the ...www.southasiainvestor.com
Hindu Americans have surpassed Jewish Americans in education and rival them in household incomes. How did immigrants from India, one of the world's poorest countries, join the ranks of the richest people in the United States? How did such a small minority of just 1% become so disproportionately represented in the highest income occupations ranging from top corporate executives and technology entrepreneurs to doctors, lawyers and investment bankers? Indian-American Professor Devesh Kapur, co-author of The Other One Percent: Indians in America, explains it in terms of educational achievement. He says that an Indian-American is at least 9 times more educated than an individual in India. He attributes it to what he calls a process of "triple selection".
Hindu American Household Income:
A 2016 Pew study reported that more than a third of Hindus (36%) and four-in-ten Jews (44%) live in households with incomes of at least $100,000. More recently, the US Census data shows that the median household income of Indian-Americans, vast majority of whom are Hindus, has reached $127,000, the highest among all ethnic groups in America.
Median income of Pakistani-American households is $87.51K, below $97.3K for Asian-Americans but significantly higher than $65.71K for overall population. Median income for Indian-American households $126.7K, the highest in the nation.
Hindu Americans Education:
Indian-Americans, vast majority of whom are Hindu, have the highest educational achievement among the religions in America. More than three-quarters (76%) of them have at least a bachelors's degree.
By comparison, sixty percent of Pakistani-Americans have at least a bachelor's degree, the second highest percentage among. The average for Asian-Americans with at least a bachelor's degree is 56%.
American Hindus are the most highly educated with 96% of them having college degrees, according to Pew Research. 75% of Jews and 54% of American Muslims have college degrees versus the US national average of 39% for all Americans. American Christians trail all other groups with just 36% of them having college degrees. 96% of Hindus and 80% of Muslims in the U.S. are either immigrants or the children of immigrants.
Jews are the second-best educated in America with 59% of them having college degrees. Then come Buddhists (47%), Muslims (39%) and Christians (25%).
Triple Selection:
Devesh Kapur, a professor of political science at the University of Pennsylvania and co-author of The Other One Percent: Indians in America (Oxford University Press, 2017), explains the phenomenon of high-achieving Indian-Americans as follows: “What we learned in researching this book is that Indians in America did not resemble any other population anywhere; not the Indian population in India, nor the native population in the United States, nor any other immigrant group from any other nation.”
Devesh talks about what he calls “a triple selection” process that gave Indian-Americans a boost over typically poor and uneducated immigrants who come to the United States from other countries. The first two selections took place in India. As explained in the book: “The social system created a small pool of persons to receive higher education, who were urban, educated, and from high/dominant castes.” India’s examination system then selected individuals for specialized training in technical fields that also happened to be in demand in the United States. Kapur estimated that the India-American population is nine times more educated than individuals in the home country.
Summary:
Hindu Americans rival Jewish Americans in educational achievement and household incomes. Hindus in America have joined the ranks of the richest people in the United States. They account for just 1% of the US population but they are disproportionately represented in the highest income occupations ranging from top corporate executives and technology entrepreneurs to doctors, lawyers and investment bankers. Indian-American Professor Devesh Kapur, co-author of The Other One Percent: Indians in America, explains it in terms of their educational achievement. He says that an Indian-American is at least 9 times more educated than an individual in India. He attributes it to what he calls a process of "triple selection".
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Top One Percent: Are Hindus the New Jews in America?
Hindu Americans have surpassed Jewish Americans in education and rival them in household incomes. How did immigrants from India, one of the ...
no doubt indians are hardworking and disciplined .. sad we dont see any of them here..
ST1976
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and highly educated in US-NATO. its hard to get a visa of OECD economies and these migrants were proved to be, and there are reasons .... many in business quota also
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They're like ramora fish, in a symbiotic relationship with hosts USA.. not a very political group for the most part (apart from pro business/trade relations) either.. the Indian diaspora there.
Good hardworking bunch who have seemingly done pretty well for themselves.
Pakistani Americans are fusss by comparijon !
@Maula Jatt @lastofthepatriots
Good hardworking bunch who have seemingly done pretty well for themselves.
Pakistani Americans are fusss by comparijon !
@Maula Jatt @lastofthepatriots
ST1976
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bro, US-OECD countries get second ranked educated people of South Asia. first ranked gets government job with TATA etc. while those who fail to get job due to reservations etc, those who were as good as those who get government jobs, finally try for private jobs, for OECD's firms.
these UPPER Caste people are as competent as reservation people who get government jobs in reservation in India.
nearly as good as government jobs requirements in South Asia, and the Upper Caste people of this category mainly visit US-West, those who then opt for private jobs in India-Overseas..
they dont get admission in top Institutes in India but no less competent than the required marks.
US firms have good idea about these competent people. i find US might have recruited almost all those who fail to get admission in IITS-IIMs but no less competent
those who dont get admission in IITs-IIMs are in big number too, with nearly missing the marks.....
ST1976
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America’s Wealthiest Religions?
osted by Sundari in General, USA on 02 25th, 2010 | 14 responses
An interesting infographic circulating the Web has many people talking about the relationship between wealth and religion. The graphic, titled The Almighty Dollar, was created by GOOD and Column Five Media and breaks down income levels in the U.S. by religion. Data is based on information from the Pew Forum and it compares the income level of each religion to the national average. From the website: It’s no secret that the distribution of wealth is inequitable in the United States across racial, regional, and socio-economic groups. But there is a distinct variance among and within America’s faiths as well.
If you click on the image above, it will enlarge and you’ll see information broken down by several religious groups such as Jewish, Christian (divided into several groups), Buddhist, Mormon, Muslim etc. You’ll notice that Sikhism is not one of them (not sure why?). There are five income brackets (Less than $30,000 to $100,000+) listed and numbers signifying what percentage of each religious group falling into which income bracket.
43% and 46% of Hindus and Jews, respectively, fell into the $100,000+ income bracket while 8% and 9% of Christians (Historically Black Churches) and Jehovah’s Witnesses, respectively, fell into this same income bracket. Interestingly, Buddhists look to have the most equal distribution for each income bracket.
Many conversations on the internet have focused on the idea that immigrants make up a large portion of religious groups such as Hindus and Muslims. This is probably quite true. Individuals from these groups who are in the United States today, are probably more educated. The representation of these groups in this data sample is highly selective. Wealth is therefore probably more related to education rather than religion.
Other conversations suggest that those religious groups who have the lowest percentage in the $100,000+ also give the most money to their place of worship.
Having said that, what religious group’s distribution would Sikhs most likely follow? How would those individuals, who identify as Sikhs, be represented on this infographic?
America’s Wealthiest Religions? | The Langar Hall
Why Diwali spending is primed to rocket in the US
Diwali's profile is growing, particularly in the US. In 2022, President Joe Biden marked Diwali at the White House with the biggest-ever celebration. Recognition has also appeared at the state and city levels: the Pennsylvania State Senate passed a bill earlier in April this year making Diwali an official holiday state holiday; and in New York City, Mayor Eric Adams announced in June that Diwali will become a school holiday in the city's public school system, the largest in the country.To celebrate the holiday, consumers spend on gifts, food for parties, festive decor and floral arrangements. "Diwali is the equivalent of Christmas for consumption for South Asians in terms of buying new clothes, buying new things, painting the house," says Nirmalya Kumar, a professor of marketing at Singapore Management University.
In 2022, President Biden hosted the largest-ever Diwali celebration at the White House (Credit: Alamy)
Major retailers such as Target, Walmart and Costco have begun to cater to Diwali in the past few years, stocking shelves with Diwali-specific goods, including decorative productive products for the home, food and gift boxes. Greeting card aisles also display Diwali-themed cards alongside Christmas ones.
In India, consumers who celebrate Diwali represent a major revenue opportunity for businesses – and research shows purchasing from this group may grow this year, with approximately 70% of Indians ready to spend more this Diwali than last. Among those who planned to spend more, 68% said they are more likely to increase spending on new clothes, 65% on gold and jewellery, 64% on Diwali food items and gifts for family and 64% on friends and colleagues.
And there's a big potential market. At nearly 4.4 million, the Indian-American population has grown by more than 50% between 2010 and 2020, according to 2020 US Census data, which includes groups that celebrate Diwali. The median household income among the country's Indian-American population was $119,000 (£96,220) in 2019, according to Pew Research Center, standing significantly higher than median incomes for the broader US population.
Why Diwali spending is primed to rocket in the US
As Diwali festivals become increasingly mainstream, businesses are hoping to capture celebrants' holiday dollars.
www.bbc.com
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ST1976
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America’s Wealthiest Religions?
osted by Sundari in General, USA on 02 25th, 2010 | 14 responses
An interesting infographic circulating the Web has many people talking about the relationship between wealth and religion. The graphic, titled The Almighty Dollar, was created by GOOD and Column Five Media and breaks down income levels in the U.S. by religion. Data is based on information from the Pew Forum and it compares the income level of each religion to the national average. From the website: It’s no secret that the distribution of wealth is inequitable in the United States across racial, regional, and socio-economic groups. But there is a distinct variance among and within America’s faiths as well.
If you click on the image above, it will enlarge and you’ll see information broken down by several religious groups such as Jewish, Christian (divided into several groups), Buddhist, Mormon, Muslim etc. You’ll notice that Sikhism is not one of them (not sure why?). There are five income brackets (Less than $30,000 to $100,000+) listed and numbers signifying what percentage of each religious group falling into which income bracket.
43% and 46% of Hindus and Jews, respectively, fell into the $100,000+ income bracket while 8% and 9% of Christians (Historically Black Churches) and Jehovah’s Witnesses, respectively, fell into this same income bracket. Interestingly, Buddhists look to have the most equal distribution for each income bracket.
Many conversations on the internet have focused on the idea that immigrants make up a large portion of religious groups such as Hindus and Muslims. This is probably quite true. Individuals from these groups who are in the United States today, are probably more educated. The representation of these groups in this data sample is highly selective. Wealth is therefore probably more related to education rather than religion.
Other conversations suggest that those religious groups who have the lowest percentage in the $100,000+ also give the most money to their place of worship.
Having said that, what religious group’s distribution would Sikhs most likely follow? How would those individuals, who identify as Sikhs, be represented on this infographic?
America’s Wealthiest Religions? | The Langar Hall
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ST1976
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.here we have a news as below, now South Asians are as many as East Asians and Southeast Asians in USA
Ancestry By Country Region[edit]
Ancestry Population
2022[91][90]South Asians 6,268,769 East Asians 6,258,943 Southeast Asians 7,780,461
Demographics of Asian Americans - Wikipedia
en.wikipedia.org
ST1976
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ST1976
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NRIs moving from the US to India: How much salary to expect
That story probably made news only because of its star power. The fact that NRIs from the US are moving back to India is no shocking development. NRIs have, in the last few years, been relocating to India in large numbers, in search of better personal and professional lives. And if you are an NRI considering that move, there is one important thing that you must understand very well: the salary you will get in India.
Kris Lakshmikanth, Founder CEO of The Head Hunters India Pvt Ltd. says, "When it comes to compensation, we find that NRIs have inflated expectations. They mainly go by hearsay; their friend or friend's friend who returned to India has told them a tall story about Indian salaries. They want to go by that yard stick."
USD will not convert to INR
The first thing to remember is that you will not make the rupee equivalent of your US salary in India. The cost of living in India is significantly lower than that in the US. This also means a lower labour cost in India. These factors will determine your India salary. Seema Nair, Co-Leader India HR Operations of Cisco India explains, "The salary in India (for Cisco employees moving from US to India) is related to local labour market wage rates with a potential premium for critical skill sets."
Achyut Menon, head of Options Executive Search Pvt Ltd also adds, "In the nineties, people who were posted to India got expat salaries. But those days are over. In the last 10 years, India has become an attractive market for global companies who are not just looking to set up offshore centers here, but also to capitalize on the growing, educated and highly aspirational middle class consumer segment. Added to that is the availability of skilled labour within India itself. Companies no longer need to pay expat salaries."
Benchmark: What then should be the broad benchmark?
Both Lakshmikanth and Menon say that while there cannot be a standard formula, the Big Mac Index is a good guideline to calculate salaries. The Big Mac index published by The Economist, is based on the theory of purchasing-power parity (PPP), according to which exchange rates should adjust to equalise the price of a basket of goods and services around the world. The basket in this case being a McDonald's Big Mac.
Now according to the last available index dated July 2011, a Big Mac costing USD 4.07 in the US costs USD 1.89 in dollar terms in India (Rs 85 converted at an exchange rate of Rs 45). It means that the Big Mac costs 54% less in India; the cost of living is 54% lower in India. Read another way, this means that the rupee is undervalued by 54% to the dollar and that on the basis of PPP, one dollar would actually be worth Rs 21 instead of Rs 45.
So if you are drawing a salary of USD 100,000 in the US, you can expect to draw Rs 21 lakh in India, give or take. At an exchange rate of Rs 45, that would translate to an Indian salary of USD 46,666 or 46% of the US salary.
"Senior management can expect anywhere between 40% and 70% of their last drawn US salary when they move to India," Menon explains, adding, "At the 70% end would be people who have moved to India to set up a development/ engineering center or to head the global company's India start-up."
Best career move
Having set that broad benchmark, the salary would also vary between industries and functions. You would need to choose your profile and company carefully to maximise your salary.
"Manufacturing would pay less than technology. Within technology, we find that delivery of software is something which Indian companies have become masters in. They don't need to employ people from overseas. In fact, such people from the US are paid less than the person who stayed back in India because those returning from the US have handled fewer people teams as compared to peers in India," Lakshmikanth points out.
Similarly, domestic Indian companies do not usually recruit NRIs for strategic positions if the NRIs are not familiar with the dynamics of the Indian market and work place.
As an NRI moving back to India, Menon says it would be best to join a company in the US which has plans to start-up/ expand in India. "A lot of US companies across sectors like engineering, legal, analytics, financial services, pharmaceuticals are setting up operations in India.
These companies are happy to send an Indian to India who also has experience of their other markets. The employee benefits because he can grow with the company's operations in India. In the beginning, the company will set up a 30-40 staff office and expand going forward. As a member of the start-up, the employee grows as the company grows, making it a win-win for both" he explains.
Parting shot
"At the end of the day, come back to India for the same reasons you went abroad: for personal and professional growth and happiness. Come with a long term view in mind and you won't regret it," Menon advices.
(The author is a chartered accountant and financial writer. She also blogs at blogs.economictimes)
NRIs moving from the US to India: How much salary to expect - Economic Times
.
=> https://economictimes.indiatimes.co...uch-salary-to-expect/articleshow/10160094.cms
That story probably made news only because of its star power. The fact that NRIs from the US are moving back to India is no shocking development. NRIs have, in the last few years, been relocating to India in large numbers, in search of better personal and professional lives. And if you are an NRI considering that move, there is one important thing that you must understand very well: the salary you will get in India.
Kris Lakshmikanth, Founder CEO of The Head Hunters India Pvt Ltd. says, "When it comes to compensation, we find that NRIs have inflated expectations. They mainly go by hearsay; their friend or friend's friend who returned to India has told them a tall story about Indian salaries. They want to go by that yard stick."
USD will not convert to INR
The first thing to remember is that you will not make the rupee equivalent of your US salary in India. The cost of living in India is significantly lower than that in the US. This also means a lower labour cost in India. These factors will determine your India salary. Seema Nair, Co-Leader India HR Operations of Cisco India explains, "The salary in India (for Cisco employees moving from US to India) is related to local labour market wage rates with a potential premium for critical skill sets."
Achyut Menon, head of Options Executive Search Pvt Ltd also adds, "In the nineties, people who were posted to India got expat salaries. But those days are over. In the last 10 years, India has become an attractive market for global companies who are not just looking to set up offshore centers here, but also to capitalize on the growing, educated and highly aspirational middle class consumer segment. Added to that is the availability of skilled labour within India itself. Companies no longer need to pay expat salaries."
Benchmark: What then should be the broad benchmark?
Both Lakshmikanth and Menon say that while there cannot be a standard formula, the Big Mac Index is a good guideline to calculate salaries. The Big Mac index published by The Economist, is based on the theory of purchasing-power parity (PPP), according to which exchange rates should adjust to equalise the price of a basket of goods and services around the world. The basket in this case being a McDonald's Big Mac.
Now according to the last available index dated July 2011, a Big Mac costing USD 4.07 in the US costs USD 1.89 in dollar terms in India (Rs 85 converted at an exchange rate of Rs 45). It means that the Big Mac costs 54% less in India; the cost of living is 54% lower in India. Read another way, this means that the rupee is undervalued by 54% to the dollar and that on the basis of PPP, one dollar would actually be worth Rs 21 instead of Rs 45.
So if you are drawing a salary of USD 100,000 in the US, you can expect to draw Rs 21 lakh in India, give or take. At an exchange rate of Rs 45, that would translate to an Indian salary of USD 46,666 or 46% of the US salary.
"Senior management can expect anywhere between 40% and 70% of their last drawn US salary when they move to India," Menon explains, adding, "At the 70% end would be people who have moved to India to set up a development/ engineering center or to head the global company's India start-up."
Best career move
Having set that broad benchmark, the salary would also vary between industries and functions. You would need to choose your profile and company carefully to maximise your salary.
"Manufacturing would pay less than technology. Within technology, we find that delivery of software is something which Indian companies have become masters in. They don't need to employ people from overseas. In fact, such people from the US are paid less than the person who stayed back in India because those returning from the US have handled fewer people teams as compared to peers in India," Lakshmikanth points out.
Similarly, domestic Indian companies do not usually recruit NRIs for strategic positions if the NRIs are not familiar with the dynamics of the Indian market and work place.
As an NRI moving back to India, Menon says it would be best to join a company in the US which has plans to start-up/ expand in India. "A lot of US companies across sectors like engineering, legal, analytics, financial services, pharmaceuticals are setting up operations in India.
These companies are happy to send an Indian to India who also has experience of their other markets. The employee benefits because he can grow with the company's operations in India. In the beginning, the company will set up a 30-40 staff office and expand going forward. As a member of the start-up, the employee grows as the company grows, making it a win-win for both" he explains.
Parting shot
"At the end of the day, come back to India for the same reasons you went abroad: for personal and professional growth and happiness. Come with a long term view in mind and you won't regret it," Menon advices.
(The author is a chartered accountant and financial writer. She also blogs at blogs.economictimes)
NRIs moving from the US to India: How much salary to expect - Economic Times
.
=> https://economictimes.indiatimes.co...uch-salary-to-expect/articleshow/10160094.cms
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