Questions for the HK veterans

[JD.]

I have been headhunted for a job in Hong Kong and have a few questions.

I have been offered HKD1.3mil pa plus annual bonus, 2 return flights and accomodation for one month only.

I will have to cover my own accomodation.

Firstly, can i get a nice apartment, save money, travel, and party hard with that wage.

Im currently a contractor and consult to the big 4.

Am in my 30's, and single.

Thanks in Advance

[freeier]

its a good package, but everything is relative.
if u want an apartment overlooking the sea and 2000sqft, u are talking about maybe 40~50k per month which eats up a big chunk of your pay.

if u are happy with a nice 700sqft apartment then u'd have plenti of money to save and spend

[PDLM]

It's approximately 10 times average earnings. Unless you have some very expensive habits you'll have plenty to spare.

[JD.]

Thank you for your responses.

At present Im contracting at GBP400 per day (Local equivalent of HKD5800 per day)

So for me, although this is a permie job, the salary will represent quite a drop in money even after factoring in the tax difference.

Im happy to rent a small 1-2 bedroom flat, but would ideally like to be very close to central and the night-life (work hard-play hard)

Im at second interview stage and am waiting to hear back on annual leave and working hours etc, but am still debating whether to make the move.

Having spend a few years in Dubai,Bahrain,Saudi and most of Europe Im not to concerned about making the move, just trying to gauge as to whether ill have a good quality of life, be able to go out and play a fair bit, and still save cash.

Any more advice will again be gratefully received.

Rgds
JD.

[tonkfodder]

I reckon you'll be strugglling ...coke is damn expensive over here especially if you have a big habit!!!!

Seriously you should be pretty ok big expenses here

Flat check on web but the key thing is they tend to be smaller than euro or other western flats so check sizes

Cars ... can be expsensive but cheap second hand, parking is expensive but question if you need a car?

Going out expensive, very expensive compared with Australia a little expensive compared with london but depends what you do....

Food can be more or less depends on where you shop and what you buy

Most other things about same or cheaper.

[JD.]

Thanks for your replies..and im sure these questions have all been done before.

I have used the search function, and reviewed previous posts, but some were quite old hence posting in case the situation has changed.

One last question (for now )
I expect Ill be working late, so i want to live near Garden Road/Central and just as important, be close to the night-life...that is so i can get back home, get chahged, and get out without a massive commute.
Which are the apartment block i should be looking at. I dont want to spend a silly amount on accom, but am quite flexible.

thnx

[freeier]

then u might want to live outside central. it might take longer time to cab in and cab out...

[dougp]

If you're happy with a smallish 1 or 2 bed place (though HK small is Small) then unless you play very very hard indeed, and I'm talking weekly liver transplants or keeping a yacht on standby, you'll have no problem saving money on that package.

Just about anywhere in Midlevels is 5-15 mins by taxi from Central so an easy run home and back again even in the evenings. There's a huge range of apartments in that area - have a look at:

http://www.hongkonghomes.com/hong_ko.../eng/index.htm

http://www.gohome.com.hk/english/home.asp?

but take the ads on gohome with a pinch of salt.

[carang]

OMG!!!

my hubby and i combined make less than half of what you'll be making and we have one baby, another on the way and two dogs!!!!


i really don't think that you'll have any problem whatsoever on that kind of salary...

say you spend $30,000 on a flat
$5000 on food
$3000 on other expenses
$10,000 on transportation(either taxi everywhere or lots of parking/fuel costs)
$10,000 on partying...

that still leaves you.....$50,000/month and that doesn't even take into account your bonus....


man.. can i have your job????

[Expatriate]

Well, we (2) pay 5,000 for groceries per month, another 1,000 for transport, maybe 2,000 for utilities incl. electricity, phone, gas, water and 7,000 for rent.
That makes about 15,000 per month for comfortable living.

Which gives us some savings for 2-3 vacations per year which are not paid by the company.

1.3 mio pa gives you 90,000 per month after tax. And if you are good, you put your tax money each month to work until you really have to pay the tax in probably 2 years.


Sometimes I don't understand people's problems.