Salary to expect in HK (moving from SG)

Reply
Page 2 of 2 FirstFirst 1 2
  1. #11

    Join Date
    Apr 2004
    Posts
    23

    Question

    Thanks for the reply. I agree with you, however expat compensation also seems to be dying (with the exception of large consulting and IB firms). More and more companies are localizing their transferred employees' pays.
    http://www.wang-li.com/content.cfm?i...l=faq&mark=faq

    My company (a medium MNC) is using the low tax rate in HK to argue for a reduced gross salary, and says that their offer is already putting me in the highest band of compensation locally. I am surely going to negotiate, but don't want to be completely out of line with my request. Wondering if any of you have successfully negotiated before?

    Also, other than the rental, is HK's cost of living really comparable to cities like SF or NY?


  2. #12

    Join Date
    Apr 2003
    Posts
    12,384
    http://www.geoexpat.com/forum/showth...p?threadid=247

    Just like NYC, you can find cheap places and you can find expensive places to shop, entertain and live in.

    http://www.finfacts.com/costofliving.htm

    You also have to keep in mind that a very significant number of people here in HK live in govt subsidised housing. The numbers I've heard are around 50-60% -- this is messes some numbers up and companies know this and abuse it when calculating compensation. You, as an expat will not have the luxury of living in a govt estate.

  3. #13

    Join Date
    Dec 2003
    Location
    USA
    Posts
    63
    Quote Originally Posted by sfosymphony:
    Hi,
    I will be moving to HK in a couple of months and currently negotiating the package. For those who relocated from the major US cities such as SF/Chicago/NY, wondering if you had to take a reduced salary in HK when you moved? If so how much less in percentage terms?
    Really appreciate any advice!
    the hubiie and I moved here from NY last year. his salary stayed the same. As we calculated it out, our rent in HK is quite much higher from NY, but tax is much lower, only 15% here in HK. Other living expense stayed the same. Take in consideration of tax and rent, our total living expense stayed the same. Not sure how long u planning to stay here, but I would highly recommend service apartments.

  4. #14

    Join Date
    Apr 2003
    Posts
    12,384

    Do keep in mind that US residents (Green Card) and citizens do not have the luxury of "not paying taxes back home". Uncle Sam collects taxes on your worldwide income, irrespective of your current location.


  5. #15

    Join Date
    Dec 2003
    Location
    USA
    Posts
    63
    Quote Originally Posted by KnowItAll:
    Do keep in mind that US residents (Green Card) and citizens do not have the luxury of "not paying taxes back home". Uncle Sam collects taxes on your worldwide income, irrespective of your current location.

    only federal tax not state tax

Reply
Page 2 of 2 FirstFirst 1 2