What salary is good enough?

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  1. #1

    Join Date
    Aug 2004
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    7

    Question What salary is good enough?

    Hi,

    I have a job offer for Asst Manager Risk Management in a leading Bank. I have 3+ yrs experience in similar area of work. Is it possible to mange all expenses for a couple with HKD 25000 including a rented flat while maintaining a good life style? Do I need to think of cost cutting always or can lead a free life?

    How much a 2 BHK flat would rent within 30-45 mins from Central? Is it advisable to take up accomadation close to MTR link? Does the cost vary depending on that?

    What area shoud be best for me if I have to commute to Central but my wife needs to go to Hongkong University of Science & Technology?

    What is the chance of an Indian to get admitted in PHD courses in Hongkong University of Science & Technology etc? What's the ratio of Indian students in hongkong universities for PHD?

    thanks in advance for your help


  2. #2

    Join Date
    Apr 2003
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    12,383

    Are you going to get $25K and an apartment? If the 25K is in addition to the apartment, that gives you a fair amount to party and play and save. If it does not include an apartment.... well look around on sites like gohome.com.hk and centanet.com to see what apartments cost.


  3. #3

    Join Date
    Aug 2004
    Posts
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    Thanks for your useful advice. Actually HK$25000 is not top of accomodation. I have to find my own accomodation? How much do u think is good enough for "party,play and save" when i have to pay rent in that pay for a decent flat for a couple?


  4. #4

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    Apr 2003
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    Why not look around on http://www.gohome.com.hk or http://www.centanet.com and see what you would be able to find? You might find some good bargains on the outer islands / new territories.

    Also take a look at http://www.ird.gov.hk to look at your tax liabilities.


  5. #5

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    Aug 2004
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    could you please tell me if this is a good/bad or moderate salary in hongkong standards given my experience[+3yrs] ?
    thanks again


  6. #6

    Join Date
    May 2004
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    473

    Antde,
    I'm not in banking, so I may be totally wrong to say this, but to me, 25K p/m doesn't sound very exciting. You may need to check on any bonus, incentives, or other that would help bring that number higher.


  7. #7

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    Being in banking, although on the technology side, I would agree with Fly. This seems like a pretty low number to me.


  8. #8

    Join Date
    May 2004
    Posts
    473

    True, true, it's all a relative number, and very personal to live within our means. There is no easy,direct answer to Antde's question, except to try and make sure you are being paid fairly on the same scale as everyone else without being taken advantage of.


  9. #9

    Join Date
    May 2004
    Location
    Hong Kong
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    The average household income in HK is about HK$19,000 per month and the average individual income is around HK$10,000 per month, if that helps you put things in perspective.


  10. #10

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    Dec 2002
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    Hong Kong
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    $25K for a couple maybe a bit tight. All depends on how much you decide to spend on accomdation.


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