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Evaluating my job offer - please help

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  1. #11

    Thanks all for your help! This is really helpful! I come from Singapore where local eateries are really cheap, so no issues with eating at local eateries in Hong Kong. I will also stretch that budget for simple cooking for the other 2 days of the week since i dont expect that i will spend 150 on every meal! Also not a huge alcohol drinker.

    Re MPF: I have asked the company if i can be exempt from the first 12 months as that was what i read on the MPF website, but they have said that its mandatory from day 1 (with employer matching).

    Re rental: Yes, i was hoping i can find an apartment for 14K for SYP, but i guess a more reasonable amount would be 15K? Is that doable? Would apartments in KT or Tin Hau be in the same price range?

    Re Utilities: Good to know that I have over-budgetd! I will put the budget down to about 1K instead of 2K, that will give me extra savings to put aside for trips. That's something i definitely plan on doing!

    Re Transport: Yes, i would like to try to take the MTR and/or bus as much as I can. But just out of curiosity, what is an average cost of a taxi from KT to Admiralty in rush hour? I heard the traffic can get bad, so assuming worst case scenario, what would I be looking at?

    Re: taxes, thank you! i will look into the tax certificates as forced savings for tax. i put aside 5k as i wanted to take into account the amount taxable for the bonus figure (otherwise i guess my whole bonus would be spent on paying taxes only!)

    Rental: 15K (to get more choices)
    MPF: 1.5K
    Gas, Utilities, Internet, Mobile: 1K
    Transport: 1K (About 400HKD for public transport in 1 month, and 600HKD for occasional taxi)
    Food - Eating Out: 6K
    Household goods/Groceries: 2K
    Miscellaneous/Entertainment: 3K (clothes, movies)
    Savings for Tax: 5K
    Financial Commitments back home (non-reduceable): 22K
    Balance (savings for rainy day): 1.5K +/-

    I will use the USD5K allowance + some personal savings for the 3.5mths upfront requirement. Is the 2 mth deposit refundable? For the 1 mth upfront, does that go into the 1st month's rent? Or does the landlord hold all 3 months until my lease expires?

    Also i have lots of air miles to fly me home (or for other trips) in the next 1-2 years!


  2. #12

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    5,063

    The upfront rent is your rent for the first month, generally you will pay in advance rather than arrears.

    Of course the deposit is refundable, unless you trash the place


  3. #13

    LOL! Thanks Trebor


  4. #14

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624

    I will make it simple. Is it a step up for u?…if yes take it..money should b fine...if it isnt...why coming?


  5. #15

    Hey Mat, it would be great if it was that simple for me!
    Function: Lateral, almost step down but I see it as a trade off for not having the necessary experience in the industry.
    Money: More than what i will get currently but similarly, expenses also increase - my take home actually works out to be to be less!

    I see the offer as an opportunity to move into the industry which is ultimately my goal, so i'm fine with less money as long as I have budgeted carefully to make sure I get by alright even after taking into account the commitments back home

    Last edited by misslohshops; 19-06-2015 at 08:04 PM.

  6. #16

    Join Date
    Dec 2013
    Posts
    495

    You've thought about and presented your budget very well, and given your career aspirations I would grab the opportunity with both hands. Good luck!

    orrock likes this.

  7. #17

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Quote Originally Posted by misslohshops:
    Hey Mat, it would be great if it was that simple for me!
    Function: Lateral, almost step down but I see it as a trade off for not having the necessary experience in the industry.
    Money: More than what i will get currently but similarly, expenses also increase - my take home actually works out to be to be less!

    I see the offer as an opportunity to move into the industry which is ultimately my goal, so i'm fine with less money as long as I have budgeted carefully to make sure I get by alright even after taking into account the commitments back home
    Then you have ur answer . It is a good opportunity as u said and as others said ur budget is fine.