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Offer evaluation

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  1. #1

    Cool Offer evaluation

    Dear Forum Members,
    Hope you are doing well and could help with some pieces of advice.

    I am 26, hospitality professional being offered a job in HK. Even though Hong Kong has been my dream destination for a long time, I am slightly worried that I may have to live from check to check.

    I am single, so do not quite need a lot of space, but definitely need a place to crash after 14-16 hours day. I do have an active lifestyle and being a foreigner I may want to be able to buy foreign products from time to time plus do some small rewards for myself.

    Salary: 28k per month
    Basic medical care
    Yearly NY bonus within the range of 1-2 salaries.
    Performance-based bonuses.

    Right now I am still in process of interviews, but I have only one left to go for and so far everything was going smooth. It is always good to negotiate a salary or benefits, but I am not sure what value-added benefits I can ask for as it looks like their payment is fixed.

    From what I see at the moments, more than 60% of my salary will go to pay for rent. The job is at Wan Chai, and I actually do not mind living further away in a quiet location, but taking into account that I may finish working late at night - I may need to consider a flat near the venue.

    Thinking of getting a bike later on, as I do have a license already. But not sure how is parking painful there for bikes. I did read a very helpful topic on motorcycles, but it did not seem to cover that issue.

    Kind regards

    Last edited by AminEttay; 01-03-2019 at 02:41 PM.

  2. #2

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    Many people live on less. Consider the offers on the table and make a decision. If you are not happy with the offer then keep looking.


  3. #3

    Thank you for your reply,
    That's the reason why I've started the topic. Because I am not sure whether it is an adequate amount to live in this city.

    I am sure that I will have to compromise on some things, but not sure how much. For instance, theoretically, I don't mind sharing a flat to cut the cost. But would be great to listen to the opinion of people who are on the spot already.

    I am not trying to live a fancy life or what's so ever.


  4. #4

    Join Date
    Oct 2011
    Posts
    871

    Depends on your goal and perspective really.
    If currently i earn $20-25k monthly, I would not accept offer for $28k where I need to live abroad and things are more expensive than my current location. may be it's just me

    AminEttay and jimbo like this.

  5. #5

    I am currently finishing my contract in Thailand. The cost of living here is way cheaper of course
    But used to work in western countries too. What I faced while working in Asia is that western food is way more expensive.

    Original Post Deleted
    Thank you! That's an interesting perspective. Will definitely check what can I do with this ratio!

  6. #6

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,323

    We bring in young staff on that much money. They seem to manage and have fun. Many share flats, or got for something super small. I wouldn't accept that but I'm much older. When starting out the experiences you get are invaluable. A new place, a new culture, looks good on the CV..

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  7. #7

    Join Date
    Oct 2007
    Posts
    1,896

    I'd absolutely go for it (10 years back as a PhD student I was living off half of this). Not as along term perspective necessarily, but for the experience for a few years. Hospitality is huge here, and it will be fascinating. You will not be able to save much, but (especially if you're fine sharing a flat) you'll be fine having a decent life. Only caveat is really if you have high requirements on housing - a nice flat for yourself is indeed going to cost 60% of your salary. But I do know plenty of people who share a flat and pay ~8k per room.

    Wan Chai is well connected - stick to public transport. Riding a bike is nice to get out of the city but a nightmare for commute.

    AminEttay likes this.

  8. #8

    Thank you for a detailed reply.
    I think my highest requirement is not to have a wall in front of my window and a door with a lock in my room

    I found a few interesting things such as Co-living and meal plans?
    Do you think this is handy? I've read a few articles that had a negative view of co-living.

    HK Katherine We bring in young staff on that much money. They seem to manage and have fun. Many share flats or got for something super small. I wouldn't accept that but I'm much older. When starting out the experiences you get are invaluable. A new place, a new culture, looks good on the CV.
    Thank you for sharing! If it is not the secret, what kind of positions you hire people for? Are those entry-level management roles?

  9. #9

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    You can try to bargain higher. Tell them you need 33k or something. Anything above and beyond your offer is more cash in your pocket.

    Co-sharing/living is good for people on limited budgets. The negative is you have other people in your face, something to deal with while in uni or your first apartment outside of uni, but as you age you won't want to deal with those headaches.

    Entry level management positions should be higher than 28k. Most MNCs I believe would start around 35k and that was 10 years ago. I don't believe they have increased much though.


  10. #10

    Join Date
    Aug 2012
    Location
    Location Location
    Posts
    1,201

    You might find some more help in this:

    https://geoexpat.com/forum/63/thread347400.html


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