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Jeff Bezos Set $80K Salary At Amazon But Earned $8M Per Hour

December 16, 2024, 1:39 pm

Jeff Bezos announced that for 20 years, he took salary of $80,000 from Amazon. He became one of the richest businessmen in the world. Even being the founder, still he felt uncomfortable taking on more as he already owns a big part of it. “My view was I was a founder,” he explained. “I already owned a significant amount of the company and I just didn’t feel good about taking more.”.

Despite this modest salary, Bezos was able to make $8 million every hour from 2023 to 2024 by virtue of his 10% stake in Amazon. As he added, “I had plenty of incentive. I owned more than 10% of the company. I just felt, how could I possibly need more incentive?”

Since Bezos’ resignation as the Amazon’s Chief Executive Officer, he is selling his Amazon shares gradually. He said that 25 million more of Amazon shares would be sold till the end of 2025. Bezos went on to inform the board, “I asked the compensation committee of the board not to give me any compensation,” further saying he would have felt “icky” taking any more dollars and is proud to state that he made his flat compensation decision with “honor.”.

Lower wages can also cut the taxes of billionaires. For example, Bezos paid no federal income taxes in 2007 and 2011 because his investment losses exceeded his salary. Other billionaires, such as Elon Musk, Warren Buffett, and Michael Bloomberg, have done the same, thus reducing their taxes to much less than the federal income tax rate of 37%.

Founder Offering Rs. 10,000 Internship Salary Leaves Internet Divided

December 2, 2024, 2:14 pm

Vinayak Sarawagi, a software engineer turned entrepreneur, has ignited a debate about whether one’s college prestige should impact salary expectations. Sarawagi shared a screenshot of a WhatsApp exchange with a college student, who turned down an internship offer because the salary was Rs. 10,000.

The student texted, “I am sorry it won’t work for me being from a Tier 1 college this is too low for me. Hope you understand.” Sarawagi responded with a simple “okay cool.”

I thought this mindset was going away, but sadly it’s not pic.twitter.com/AaOHVh8vhv

— Vinayak Sarawagi (@vinayak2506) November 30, 2024

The post quickly went viral, sparking mixed reactions. Some criticized Sarawagi for offering such a low stipend, while others supported his explanation. In response to one critical comment, Sarawagi explained, “I’m using my savings to pay interns for an open-source framework I am building. I know the stipend is low, so I offer other comforts like flexible hours. There are many others who pay more, so calling me a zamindar is not cool.”

Hello sir, huge respect for you. But since you posted here without discussing it with me, I thought I would post here.

Don’t know how to do long form replies here, so posting the note here. pic.twitter.com/LN57tUHHWX

— Vinayak Sarawagi (@vinayak2506) December 1, 2024

Sarawagi elaborated that the student had reached out after he posted the job opening and had been informed about the stipend and remote work details. “The candidate is not wrong here, and I wish him the best of luck! I just posted this screenshot because the ‘Tier 1’ debate is still not over yet,” he said. Sarawagi also mentioned that he received blunt messages from other candidates regarding the Rs. 10,000 stipend.

Bihar Teacher Juggles Two Jobs to Support Family on Rs 8,000 Salary

December 1, 2024, 12:11 pm

Amit Kumar, a 35-year-old physical education teacher in Bihar, struggles to make ends meet despite holding a government job. Teaching at Babu Pur Middle School in Bhagalpur district during the day and working as a food delivery rider at night, Amit earns a modest monthly salary of Rs 8,000, insufficient to sustain his family.

Challenges Of Working Two Jobs

After his teaching duties, Amit spends his evenings from 5 PM to midnight delivering food for a private company. His story highlights the financial hardships faced by government employees with low salaries, forcing them to seek additional work.

Speaking about his circumstances, Amit shared with ANI, “After a long wait, I finally got a government job in 2022. My family was overjoyed. I had taken the exam in 2019, and the results came in February 2020. I scored 74 out of 100, and we were thrilled. My family thought our situation would improve. Earlier, I worked at a private school, but when COVID hit, I lost that job. After two and a half years, I got this government position, but the salary was fixed at just Rs 8,000, and I was labelled a part-time employee, meaning I wasn’t required to stay long hours at school. Initially, we worked full-time and encouraged students to participate in sports.”

He added, “The students showed interest and even won medals. But even after two and a half years, the government hasn’t increased our salary or conducted eligibility exams. Life has become difficult. Senior teachers here receive Rs 42,000 as salary, while we get only Rs 8,000.”

Amit’s challenges are compounded by delayed payments. Earlier this year, he went four months without receiving his salary, forcing him to borrow money. “After February, I didn’t receive my salary for four months. I had to borrow money from friends, and the debt kept piling up. On my wife’s suggestion, I searched online and found I could work as a food delivery rider. There was no time restriction, so I created an ID and started working. After school, from 5 PM to 1 AM, I deliver food.”

Impact On Personal Life

The financial strain has deeply impacted Amit’s personal life. “With Rs 8,000 as my salary, I can’t even think about expanding my family. I wonder how I can provide for the next generation when I’m struggling to feed myself. I got married two and a half years ago when I got the job. I’m the eldest son and need to stay at home to care for my elderly mother, which is why I am compelled to take up this additional work,” he explained.

Despite his tireless efforts, Amit continues to hope for better opportunities and a salary increase to improve his family’s circumstances.

Bride Cancels Wedding In UP After Discovering Groom’s Actual Job

November 26, 2024, 12:45 pm

In Uttar Pradesh’s Farrukhabad district, a wedding was abruptly called off after the bride discovered a startling truth about her groom. Following the Jaimala (garland exchange ceremony), the bride learned that the groom was employed in the private sector rather than holding a government job as she had been led to believe. This revelation prompted her to halt the wedding rituals, leaving both families stunned.

The marriage had been arranged with an engineer from Balrampur, Chhattisgarh. An intermediary informed the bride’s family that the groom’s family resided in rented accommodation in Kannauj and described the groom as a government engineer who owned six plots of land and 20 bighas of agricultural land. The wedding proceedings began with the Dwarchar ritual and continued late into the night with the Jaimala ceremony.

At around 12:45 a.m., the bride discovered the truth about the groom’s job. She refused to continue the marriage, stating she could not marry someone employed in the private sector. Her firm stance surprised both families, who tried to persuade her to reconsider. “I was assured he had a government job,” the bride reportedly said.

In an effort to resolve the situation, the groom contacted his employer and obtained his payslip, which he presented to the bride’s family. The document confirmed a monthly salary of Rs 1,20,000, but the bride remained resolute in her decision to call off the wedding.

As the dispute escalated, both families decided to settle the financial aspects of the wedding. The expenses were divided amicably, and the groom left without the bride later that day. Despite their efforts, the bride’s determination to cancel the wedding over the groom’s job status marked the abrupt end of the event.

This Is The Salary Of UK Prisoners, More Than Teachers: Shocking Big Paychecks

November 24, 2024, 11:46 am

In a surprising divergence, prisoners in low-security jails in the United Kingdom earn higher salaries than the officers guarding them and several professionals in civil society, including midwives, psychotherapists, and biochemists. This report by The Telegraph has argued for debates on income inequality and the broader implications of rehabilitation programmes for inmates.

Prisoners Out-Earn Guards and Other Professionals

Data from the Home Office shows that some prisoners in open prisons–allowed to work outside during the day under rehabilitation initiatives–have really made significant earnings. A report showed that the highest-paid inmate reportedly earned a net salary of $46,005 (Rs 38.8 lakh) last year, which equates to a gross income of about $57,640 (Rs 48.6 lakh). Nine other prisoners earned net wages over $28,694 (Rs 24.2 lakh), with the average working prisoner taking home nearly $25,061 (Rs 21.1 lakh) annually.

Average salary of the prison guard is $35,085 (Rs 29.6 lakh). New recruits are paid around $30,073 (Rs 25.4 lakh) annually. Midwives get $45,889 or Rs 38.7 lakh; biochemists fetch $45,844 or Rs 38.7 lakh, and psychotherapists earn a salary of $45,864 or Rs 38.7 lakh, yet still less than what some of the highest-paid prisoners rake in.

Driving Jobs Boost Earnings

While prisoners engage in various jobs, the highest earners are involved in lucrative positions such as lorry driving. According to the Ministry of Justice, two prisoners earned over $37,591 (Rs 31.7 lakh) after deductions, and another seven earned between $28,694 (Rs 24.2 lakh) and $37,591 (Rs 31.7 lakh).

Rehabilitation Program Sparks Debate

A prison service spokesperson explained the initiative:
“Some offenders, near the end of their sentence, are granted a temporary license. They get to spend some time in the community working before returning to prison.”

These monies are taxed and include court fines, as well as a levy of up to 40%, which is paid to charities supporting victims.

Public Response to Income Inequality

Fair recompense to those civil society professionals has been a concern, and a stark pay disparity has been one of the concerns over fairness forthe program purporting to prepare inmates for readmission intosociety.

The UK continues debating over balancing prisoner rehabilitation with equitable compensation for civil society professionals.

Woman Dumps Matrimonial Match After Discovering His Income Is Rs. 3 Lakhs, Not the Rs. 30 Lakhs

October 28, 2024, 10:38 am

A men’s rights activist shared screenshots of his conversation with a potential matrimonial match who reacted angrily upon discovering his annual salary is Rs. 3 lakhs instead of the Rs. 30 lakhs he had previously claimed. The man, known as Kish Siff on the social media platform X, posted the exchange after the woman pressured him for an early engagement until she learned about his actual income.

Kish noted that the woman had seemed “nice all these days” until he pointed out a “typo error” in his matrimonial profile. In the screenshots, the woman was seen urging him for an early engagement. When he requested more time to get to know her—advising caution since it would be their second marriage—she responded, “Can’t wait or we find other match.”

After some negotiation, the man agreed to get engaged in mid-November. He then revealed that he had mistakenly added an extra zero to his salary, clarifying that he earned Rs. 3 lakhs per annum, not Rs. 30 lakhs.

Upon hearing this, the woman reportedly lost her temper and cursed the men’s rights activist with words too inappropriate to mention here.

??? ??? ???? ??? ????? ???? ????? ? ??????? ??? ?? ???? ????? ? pic.twitter.com/K4TDGPrqm3

— Kish Siff (@KishwarSiff) October 26, 2024

In subsequent posts, the man claimed to have discovered through court documents that the woman was receiving significant alimony from her ex-husband. “Found out from background verification… that in HC compromise quash order this lady had taken Rs. 80 lakhs to settle the False 498A case against her in-laws,” he wrote. He added that she had told him fabricated stories, insisting she didn’t receive any money during the divorce.

Kish also shared screenshots of threatening messages from the woman’s mother, who claimed she would file a police complaint against him for allegedly defrauding her daughter.

???? ?? ????????? ????? ???? ?????? ?? ????? ????? ????? ????? https://t.co/W7fdelZCo7 pic.twitter.com/bcKbJJkwD0

— Kish Siff (@KishwarSiff) October 26, 2024

This entire exchange sparked considerable discussion on social media, with many comments criticizing women with a “gold digger” mentality, while others commended the user for exposing fraudulent behaviors on matrimonial websites.

Rs. 70 Lakh Salary ‘Insufficient’ in Canada: Infosys Techie Claims

September 28, 2024, 1:14 pm

An Indian-origin techie’s candid revelation about being dissatisfied with his Rs. 70 lakh salary in Canada has ignited a viral discussion on social media. He attributed his dissatisfaction largely to the high cost of living in Toronto, where he works for Infosys, and mentioned that nearly $4000 of his income goes toward rent, a sentiment that resonated with many viewers.

The video, shared on Instagram by entrepreneur and content creator Piyush Monga, has gained significant attention. Monga captioned the post, “$100,000 is not enough. Brother is not satisfied with $115,000 a year as a SAP specialist in Toronto, Canada.”

In the video, the techie, pushing a stroller alongside a woman, admits to earning over $100,000, but says he is still unhappy with the amount.

Watch Here:

View this post on Instagram

A post shared by Piyush Monga (@salaryscale)

How did social media react?

The video has garnered over 66,000 views and nearly 1,000 likes, sparking a wide range of comments.

An Instagram user commented, “I was also in life science in Infosys SAP. They want to send me to the US. Most of my colleagues went there and switched after a year.” Another suggested, “He should prepare and switch companies to make more money. Intra-company transfers in service companies will not pay a good salary, be it US or Canada.”

One user noted, “Mankind will never be satisfied with money. Enjoy life in Canada. It’s 20x better than India, even in the current circumstance,” while another expressed shock over the rent, stating, “$3,000 a month rent is craayyyzzyyy.”

In a previous video by Monga, a different Indian-origin techie revealed that after more than ten years of experience, she earns around $100,000 (approximately Rs. 60 lakh) annually while living in Canada.

Is ₹60 Lakh Enough?: Indian Techie In Canada Struggles With Monthly Rent

September 26, 2024, 7:53 pm

As the global cost-of-living crisis deepens, an Indian techie living in Canada has sparked a viral debate by claiming that a $100,000 annual salary (approximately ₹60 lakhs) isn’t sufficient to survive in Toronto. The video, shared on Instagram by Piyush Monga from the page “SalaryScale,” has ignited widespread reactions, with people questioning whether such a salary can truly be considered inadequate.

The Viral Interview: “Not Enough to Live in Toronto”

In the video, Monga interviews a woman, a tech professional in Canada, asking her how much she makes per year and whether she plans to stay in the country. Her response was telling: “I don’t think anyone answers yes to that question anymore. Maybe I will stay for a couple of years and then move somewhere closer to home.”

WATCH THE VIRAL VIDEO:

View this post on Instagram

A post shared by Piyush Monga (@salaryscale)

The woman, who works as a test lead at a bank with over 10 years of experience, revealed that she earns approximately $100,000 annually. Despite this, she was visibly frustrated when asked if she was content with her salary. “Not at all,” she replied, adding, “It’s not easy to live in Toronto with that sort of money. It’s really bad.”

Rising Costs and Inflation in Canada

The techie emphasized how much prices have risen since she moved to Canada three years ago. “A stick of butter was $4, now it’s $8. So inflation is very real,” she remarked, highlighting how daily expenses have become overwhelming. She further noted that inflation in India doesn’t hit as hard as it does in Canada, making it even more challenging to adjust to the high cost of living in cities like Toronto.

She also shared that renting a single room costs her $1,600 (₹99,000) a month, a significant portion of her income.

The Public’s Reaction: Divided Opinions

The video sparked diverse opinions among Instagram users. Some felt that a $100,000 salary should be more than sufficient for a single person in Toronto. One user commented, “95k should be enough for one person! A lot of people are earning less than that in Toronto.” Another added, “People are earning a lot less, and they’re still managing.”

However, others defended the techie’s point of view, suggesting she might have additional financial responsibilities, such as loans or dependents. “FYI, some people might have a lot of responsibilities. Maybe she has loans to repay. Stop judging based on half stories,” one commenter responded.

Is $100,000 Enough? A Personal Take

In the caption accompanying the video, Monga acknowledged that while he initially thought $95,000 should be enough for one person, the techie had a “different take” on the matter. He suggested that while the salary may seem sufficient to some, it’s a highly personal matter, dependent on individual circumstances and financial obligations.

A Broader Conversation on the Cost of Living

This viral video has sparked a broader conversation about the cost of living in major cities like Toronto and how inflation is impacting daily life. With rising housing costs and skyrocketing prices for basic necessities, even salaries that might seem substantial are being stretched thin.

While many people dream of living and working abroad for higher wages, this video serves as a reminder that the cost of living in those destinations can significantly affect one’s financial comfort. For many, it’s no longer just about how much you earn but how far that money goes in an increasingly expensive world.

1.3 LPA Woman Seeks 30 LPA Husband To Finance Her World Tour

September 11, 2024, 5:07 pm

A woman’s viral social media post detailing her groom requirements has captured widespread attention. The post outlines her own salary, profession, and what she’s seeking in a future husband, including a Rs. 30 LPA income and a 3BHK residence, among other luxury expectations.

According to the post, the woman, who has a B.Ed and earns Rs. 1.3 LPA, is searching for a groom in India, the US, or the UK who earns at least Rs. 30 LPA. She also enjoys global travel and 5-star accommodations.

Her qualities and salary ?
Expected husbands qualities and salary?? pic.twitter.com/NGgJvVvN9l

— ShoneeKapoor (@ShoneeKapoor) September 10, 2024

The post has gained over 1.2 million views, sparking a range of reactions. Some users questioned her demands, with one commenting, “She wants an unmarried man despite being divorced, and expects him to move in with her parents but not his own. With a salary of Rs. 11,000/month, she wants a full-time maid and cook? What priorities!”

Another user added, “With a salary of Rs. 132,000 per annum and a hobby of 5-star hotels, she’s looking for a Louis Vuitton surprise? Truly next-level expectations!”

A third remark noted, “She’s not keen on her in-laws but expects the groom to live with her parents. Talk about mixed signals!”

13 Lakh UP Govt Employees Face Salary Freeze Over This Order By Government

August 22, 2024, 11:07 pm

In Uttar Pradesh, over 13 lakh government employees are facing the risk of losing their salaries if they do not comply with a directive from the Yogi Adityanath government to declare their movable and immovable assets on the government portal, Manav Sampada, by August 31. This order, originally issued in August last year, has seen multiple deadline extensions due to low compliance, with the latest extension marking a final ultimatum. Despite these extensions, only about 26% of the state’s 17.88 lakh government employees have submitted their asset details, leaving the majority at risk.

Chief Secretary Manoj Kumar Singh has made it clear that only those who comply with the directive by the August 31 deadline will receive their salaries for the month. The state government has defended the measure as a move to enhance transparency and accountability within the administration, in line with its zero-tolerance policy towards corruption.

However, the opposition, particularly the Samajwadi Party, has criticized the move, arguing that the multiple extensions highlight the government’s failure to enforce its own orders effectively. They question why such a measure was not implemented earlier in Yogi Adityanath’s tenure and suggest that the government is now trying to cover up its shortcomings by enforcing this order.

The order is mandatory for all categories of officers and employees, and non-compliance will not only affect their salaries but also their eligibility for promotions. The directive has been communicated to all relevant department heads and officials to ensure compliance.