Service or business?
For many people life is very clear. Parents decide what a kid should study, what they should do in life, whom should they marry, even when to retire. For some kids service is not an option. For some kids business is not an option.
For those who are caught in between the decision to be in service or be in business is really tough to make.
In the 1960s, 70s, and even in the 1980s it was worth being in business or being in the government service. Inflation was high, taxation was high – cheating income tax was worth its while. The private sector was seen not as too great a place to work. Of course if you were with the good companies life in private sector service was not bad.
The 1990s saw salaries explode – so being in service (esp financial services, media, entertainment,etc.) became a great place.
We may now have come full circle – you are now much better off being in service. Like Sucheta Dalal says you pay First World salaries in India, but cannot demand a high level of work culture :-).
However salaries seem to have fallen according to an article in ET…read on..
pravin
india is more greece rather than US .the govt makes promises to its pampered employees who always see their salaries go up -profit or loss considerations dont count,the taxpayer and deficit financing will take care of their bills.
one of the economists in the article says that ‘indians have been resilient to inflation’ .nothing could be farther from the truth.the effect of inflation is not that things are costlier or your real income is less ,but that inflation robs the poor to benefit the govt’s favorites (vote bank,govt employees,corporate cronies).it perverts incentives for savers and hard workers and creates an intergenerational divide. greece is proof of it.
Suresh
Service. Where else do you get to blow off some one else’s money (owner/shareholder etc) and not be responsible for it? There’s always another and better paying job.All you need to learn is not to hold the ball when the music stops!
The other thing is you need to be particularly crazy to try and run a business considering how many hoops you have to jump through in India to be alive.
Balzac regins supreme.