Before You Chase The American Dream, Read This (2024)

The H1B visa, the most common route for skilled workers, operates on a lottery system, making it a gamble whether one can secure it. ( Image Source :Getty )

Imagine giving up your family home, draining your savings, and uprooting your life for the promise of a better future in the West — only to find yourself caught in a web of uncertainty, financial strain, and unfulfilled dreams. This is the harsh reality many faces when they move to countries like the US, Canada, or Australia. While the allure of the American Dream is powerful, it's crucial to ask: is it worth the sacrifice? As governments in the West forgive student loans for their citizens, foreign students are left footing the bill, subsidising these debts.

Before you make such a life-altering decision, pause and think. Speak to someone you trust who lives overseas — not just immigration specialists whose job is to sell a dream. Opportunities in India are now comparable to those in the US. Accenture, one of the world's largest consultancies, has indicated that the cost of labour arbitrage between India and the US is no longer significant.

The 21st century is often touted as Asia's Century, a sentiment echoed by market watchers and billionaires like Elon Musk, Jeff Bezos, and Tim Cook, who are investing heavily in the region. However, immigration trends paint a different picture:

• 3.3 million more people moved to America than left since 2010.
• Canada welcomed over 2 million immigrants.
• Britain took in 1.2 million, and Australia 740,000.

Britain's intake has quadrupled compared to 2019. While immigrants significantly contribute to Western economies, it's essential to understand the broader implications.

For instance, Indian-Americans, who make up 1 per cent of the US population, contribute to 11 per cent of the GDP. They also boast the highest income by ethnicity, with an average of $120,000, nearly double the $65,000 of white Americans. A staggering 83 per cent of H1B worker visas are filled by Indians, who also dominate 75 per cent of Silicon Valley tech jobs. This is largely due to India's strong emphasis on STEM education.

However, a closer examination reveals a less glamorous reality. A simple LinkedIn search shows 4.5 million job openings in the US, but only 300,000 fit the criteria of full-time positions paying more than $120,000. In contrast, similar jobs in India pay over Rs 20 lakh, totaling 495,000 openings.

Comparing these figures might seem futile, but consider this: if you secure a $120,000 job in the US as a fresh graduate, you'll likely be in NYC or California. After taxes, you're left with $72,000 annually, or $6,000 monthly. With rent in livable areas at $2,000 and other expenses adding another $2,000-$2.5, you’re left with $1,500. This amount must cover student loans for five years, making the financial viability questionable.

Conversely, a 20 lakh job in India allows one to live at home, contributing to household income and enjoying greater disposable income.

Visas: The Long Road to a Green Card

One of the most daunting challenges for immigrants is navigating the visa system. The H1B visa, the most common route for skilled workers, operates on a lottery system, making it a gamble whether one can secure it. But the hurdles don't end there. Even with an H1B visa, obtaining a green card can take up to 200 years for Indian nationals due to the enormous backlog. This long and uncertain wait contrasts sharply with the E2 visa available to nationals of countries like Bangladesh, Sri Lanka, and Pakistan, which provides a much faster route to a green card.

Relying on a lottery to determine your future is a risky and often stressful path. It’s essential to ask yourself if this is the basis on which you want to build your life. The E2 visa, which allows investors from certain countries to live and work in the US, offers a more secure and expedient route to permanent residency compared to the H1B visa lottery.

Personal Experiences Speak Volumes

Astha Chhabra, a 26-year-old from New Delhi, shares, "Moving to the United States to pursue our aspirations is not a simple task. It's a tough road full of setbacks and solitude that push us to step out of our comfort zone and put us to the test in unexpected ways. I clearly remember my time at one of the top business schools, where, despite the prestige, I had to deal with the harsh reality of the competitive job market. It was a difficult period characterized by doubt and uncertainty. Through networking events, countless job applications, and numerous rejections, I learned the true meaning of perseverance. Every setback I faced became a chance for improvement, encouraging me to broaden my horizons and take risks. This journey is not just about reaching the finish line, simply because there isn't one. It all boils down to being content with the finish line you draw for yourself."

Arjun Mehta, a 28-year-old from India now in the Bay Area, cautions, "Graduating with a perfect GPA and landing an H-1B job in 2022 felt like the pinnacle of my dreams. But when I was laid off in 2023, the reality was harsh. I applied to over 3,000 jobs, got only a handful of responses, and ended up working a job that paid less than McDonald's despite my master's degree. Now, I've finally secured a good job, but the uncertainty and fear of layoffs stay in my mind every day. To my friends in India, reconsider your choices carefully before taking this path—You must stay resilient in the face of harsh challenges to maintain the American dream."

Social Life and Integration Challenges

House parties in the US often serve as networking hubs, where immigrants discuss startup ideas and visa issues more than personal growth or happiness. These gatherings can sometimes feel more like business meetings than social get-togethers. The question of marriage also looms large. Many Indian parents struggle with the idea of their children marrying non-Indians, while US citizens of Indian origin often avoid those newly arrived.

Final Thoughts

Moving abroad can offer remarkable opportunities, but it's vital to weigh these against potential pitfalls. Speak to trusted individuals living abroad, scrutinise the financial implications, and consider the burgeoning opportunities within India. The grass may seem greener on the other side, but often, the reality is far more complex and challenging.

The author is a seasoned Global Business Development & Sales Leader.

[Disclaimer: The opinions, beliefs, and views expressed by the various authors and forum participants on this website are personal and do not reflect the opinions, beliefs, and views of ABP News Network Pvt Ltd.]

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