I have been literally shell shocked staying in Mumbai. Probably it is a different planet altogether and a place for only the filthy rich to dominate. When I stayed in US for over 3 years I had a feeling that compared to my income level the cost of living was really good enough in most parts of that country. It was not only manageable but you could live a lavish lifestyle with whatever you earned. Not that I have stayed everywhere in US but yet I covered parts of the east coast, central and then the west coast. My experienceis not restricted to only one zone but yet it is nearly a comprehensive one.
You get paid well as an IT professional. There is hardly any disparity and the earnings are in proportion to the cost of living. In order to sustain the same standard of living as that of someone earning 130K USD in the west coast you would need to earn around 100K USD in the east coast. But then you could still save a lot in any part of the US. I am not sure about UK but then parts of Europe that I visited like Belgium and Germany were pretty good in terms of overall savings.
Life is screwing and hard. You don’t get the same class of living as in US and Europe but then you are literally nailed in your pockets. To live a same class of life is not realistically possible and if do want it then you need to have some exceptional salary package which might not be easy at all. I mean, staying in a Mumbai is costlier than staying in New York or Philadelphia or even Chicago. You would say I am probably kidding but I do mean it. You could check it out for yourself. Even if you could afford to spend a lot you will never get the same elegance in your life style.
Live in Mumbai if you really want to stay in awe of prices of things around you.