I was under the impression that education has become extremely unaffordable in India. I have been hearing stories about astronomical fees for professional degrees. So I was in for surprise yesterday.
I was on a client visit and while returning the chartered account of the client also joined me. He hails from a small town near Hyderabad. It was a long journey back home and the CA got talking to me. He said his CA education cost him Rs Ten thousand only. He said there are 10 papers for CA and each cost about Rs 1000 to appear. Please note – In mumbai the price is Rs Ten thousand per paper, but to save money he appeared for his papers from small towns like Chennai and Hyderabad where the paper costs only Rupees One thousand.
He said his monthly pocket money was Rs 100 and he couldn’t afford to live and give exam in Mumbai city so he travelled to Chennai lived with his relatives and gave his paper. He is about 30/35 year old. So circumstances might be a bit different today. But again Education policies don’t change all of a sudden.
## His Education catapults him to the upward moving Salaried Class
He said, immediately after graduation he got a job in an investment banking firm where he has privileges like air travel, which was a dream come true. He was then at Infosys where the living arrangement was like a 5 star place. He then moved to Dubai for 6 years and even got a US degree in CFA while working.
This is a story of India from 2002 to 2018. His story is the story of India. I will be following his career story from 2019 onwards.