Like Tree9Likes

Can you please help me comment on this offer

Closed Thread
Page 2 of 5 FirstFirst 1 2 3 4 5 LastLast
  1. #11

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    You HK tax bill would be approximately HK$1500 per month, so your net would be HK$28,500 which is about 2450 Euros per month, so it is a bit higher than currently.

    Tax calculator - your income is HK$256,000, and the value of residence provided (the way your housing allowance is taxed) is HK$25,600.

    You can live very comfortably as a single guy on that money, but you'll start feeling inadequate if you mix with bankers who gamble with other people's money for a living.


  2. #12

    Join Date
    May 2011
    Location
    Germany
    Posts
    20
    Quote Originally Posted by bryant.english:
    Firstly, I'm not suggesting you don't come. The experience may be worthwhile and so on.

    But, IMO your company is taking the absolute piss. The same net............so, they get to save money and give you less holidays, wtf. It's not your company's business what happens to your income tax money! Just because they pay it on your behalf a lot of companies take the view that they can cut your pay accordingly when they transfer you to HK. Me, I would say no change to my current terms and conditions, take it or leave it.
    Bryant, you got me. And so does the company. I actually want to move, don't mind working longer hours than here and do expect to have less holidays, well since that's the culture, but all that for a good reason (and compensation). Also don't want the company to take the biggest advantage (for them) out of it and cheap bail me too much. After all, employee sastifaction also brings profits for the company and they'd better see that. So my ambition now is rather try to get the best compromise, since I'm not quite in the position of "if the offer is not good enough, I'd rather stay" cos I do want to move.
    bryant.english likes this.

  3. #13

    Join Date
    May 2011
    Location
    Germany
    Posts
    20
    Quote Originally Posted by bak875:
    Whats the job (industry) how many years exp do u have? any commission?
    It's the medical devices industry. I'm engineering background, have been doing engineering job for a year but the new position will be product management.

  4. #14

    Join Date
    May 2008
    Posts
    730

    You also don't need a car while living in HK which will end up saving you a bundle yearly especially in light of the recent high gasoline prices.

    Last edited by Renotommy; 11-05-2011 at 05:12 AM.

  5. #15

    Join Date
    Feb 2010
    Posts
    7,441

    I think if you are getting a comparable salary in HK to Germany than that sounds good. Plus you get the extra rental assistance.

    For the record, I employ a couple of PM's too and your salary is pretty right. I have one with 10 years experience at $25k, no rental assistance, and 14 days holiday. However, you can get above this in the larger corporations up to $30-$35k. But seeing you are moving into the PM field it sounds pretty good.

    Sounds like you want to travel around and visit a few places while here. I would try and get a higher annual leave days to say 20 days. Why not ask.


  6. #16

    Join Date
    Mar 2007
    Location
    Gold Coast Marina
    Posts
    17,934

    When I was transferred here from NZ by my US company a few years back, they tried it on with the holidays too. They offered us 9. We flat out refused to move without at least matching what we had in NZ (which was 20). 20 is not a bad number - you can do a fair amount with that. I'd push for the extra holidays at minimum. Are you getting medical insurance? It's not a must here, but it will save a fair bit of queuing if you get sick. Make sure you get some accommodation paid when you move in addition so you can stay in a hotel for a few weeks to look for an apartment. The lower the housing, the more care you'll need to find the "right" apartment. 7k is pretty awful for housing - you'll either have to top up, get something a bit nasty or live in the NT like me


  7. #17
    Quote Originally Posted by vanichen:
    It's the medical devices industry. I'm engineering background, have been doing engineering job for a year but the new position will be product management.
    With only a year of experience it's not a bad offer. Not great, but they are not completely taking the piss. I'd try to up the housing allowance. These local contracts can be complete jokes now and again. They want you to have a local contract but don't tell you many of your local colleagues under the age of 30 or even 33 will still live with mommy and daddy e.g. little or no of their income is spent on rent. 7K will not get you very far.

    Try to negotiate more holidays. 14 is allright but low for expat standards. Although your contract is a 'local' one, you will never be a 'local' and have non-local needs such as visiting family in your home country. The company should appreciate that.

    As other posters have pointed out, the company using the 'net income' tactic to sell their offer is to their advantage, not yours. They don't pay the tax, you do. Overall, it's not a terrible offer but you've got justification to try to squeeze a bit more out of them.
    Last edited by Char Siu King; 11-05-2011 at 12:28 PM.

  8. #18

    Join Date
    Feb 2010
    Location
    Tsuen Wan
    Posts
    33

    its a good 'start off rate', i think with more experience you gain here in hk the better, u can make the jump much easier, 7K isnt much housing allowance, and is it only for a certain period of time?

    well, i get 10 days annual for a local firm and i thought that was 'normal'! do you have other benefits which would compensate for the salary and housing allowance? bonus, or 15 months salary type of thing?
    and where do you get 'expat related jobs'? and how does that compare?


  9. #19

    Join Date
    May 2011
    Location
    Germany
    Posts
    20

    Everybody, thanks so much for your comments and suggestions! Yes I plan to push for the holidays, I appreciate that much more than higher salary. Other terms of the package are ok I think, medical insurance, relocation compensation including serviced apartment etc.

    Living cost adjustment is a good tip, I'll ask about that. But they also state to review performance and salary every year, is it already some sort of adjustment in there or is it still better to have the adjustment stated clearly?

    Last edited by vanichen; 11-05-2011 at 03:20 PM.

  10. #20

    Join Date
    May 2011
    Location
    Germany
    Posts
    20

    I was trying to run the tax calculator but was not sure what to fill in:
    income: in total I get 23K * 13 + 7K * 12 a year so it should be 383, is it correct?
    I understood that the value of residence provided is 10% of the above sum right?
    So what makes a different between having the housing allowance as housing allowance or just simply part of the salary?

    Last edited by vanichen; 11-05-2011 at 04:32 PM.