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How much can we save

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  1. #1

    How much can we save

    Hi to all,

    My husband is moving to HK and has accepted an offer for HKD 70000 PM.
    Is it a good package. The employer says its a good offer per HK standards. How much can we hope to save? I have a 2.5 year old son who is in preschool.
    Our living standards are like any middle class Indian family.

    Please guide.


  2. #2

    Join Date
    Mar 2007
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    Entirely dependent on where you live and where you send your kid to school; the answer could be nothing or about half his salary!


  3. #3

    Join Date
    Aug 2009
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    how much did he make in india and where did you live?


  4. #4

    Join Date
    Jun 2010
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    Tuen Mun
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    Quote Originally Posted by PARURAJ999:
    Hi to all,

    My husband is moving to HK and has accepted an offer for HKD 70000 PM.
    Is it a good package. The employer says its a good offer per HK standards. How much can we hope to save? I have a 2.5 year old son who is in preschool.
    Our living standards are like any middle class Indian family.

    Please guide.
    You should be fairly comfortable saving most of your 70000HKD. Of course it depends how you live. If you chose to live in NT you could have a new 2/3 bedroom apartment for about 7500/9500HKD in Lam Tei with a clubhouse and swimming pool and groceries for your family could be around 7000HKD if you use local food. Run a car for about 4000 if you want. Or you could spend it all very quickly by living the usual expat lifestyle.

  5. #5

    Thanks for reply

    Quote Originally Posted by cookie09:
    how much did he make in india and where did you live?
    makes 1.5 million PA (15,00,000 INR)

  6. #6

    Join Date
    Feb 2010
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    7,442

    So you are going from around $250k HKD in India to $840 HKD in HK.

    You won't have any problems. Yes, costs are alot higher and rents are silly here to what you get but you will work it out and will be able to save money in the process.


  7. #7

    Join Date
    Jun 2004
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    HK
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    The Key to live a comforable life on this salary is where you will opt to live (where will be your office? and school?).

    If you choose to live in places like Tung Chung, Gold Coast, Discovery Bay, Sham Tseng, Tsing Yi, Shatin, Tai Po, Ma On Shan you will easily be able to get a nice/"spacious" flat with all the amendities (pool/tennis...) and have a decent commute (35 minutes to 1 hour to Central - depending on which of the above you choose and where is your husband office)

    That and the friends you will make in HK

    what industry and level is your husband in?

    Skyhook likes this.

  8. #8

    Join Date
    Feb 2010
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    7,442

    Also I might add there is a large Indian population in HK so I assume alot of what your used to at home will be available in HK.


  9. #9
    Quote Originally Posted by Mat:
    The Key to live a comforable life on this salary is where you will opt to live (where will be your office? and school?).

    If you choose to live in places like Tung Chung, Gold Coast, Discovery Bay, Sham Tseng, Tsing Yi, Shatin, Tai Po, Ma On Shan you will easily be able to get a nice/"spacious" flat with all the amendities (pool/tennis...) and have a decent commute (35 minutes to 1 hour to Central - depending on which of the above you choose and where is your husband office)

    That and the friends you will make in HK

    what industry and level is your husband in?
    Thanks -- his office could be in Quarry bay or Central. He is joining a bank as VP.

  10. #10

    Join Date
    Jun 2004
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    HK
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    14,586
    Quote Originally Posted by PARURAJ999:
    Thanks -- his office could be in Quarry bay or Central. He is joining a bank as VP.
    Quarry Bay -> Possible not too expensive locations to live and within 45 minutes can be: Heng Fa Shuen, Shau Kei Wan, Lam Tin, Tseung Kwa O area, Sai Kung (if you need nature but it will take more time maybe)

    Central -> Possible not too expensive locations to live and within 45 minutes max can beTung Chung, Gold Coast, Discovery Bay, Sham Tseng, Tsing Yi.

    Other possible location could be (if willing to live in older buildings - not necessarily bad) Fortress Hill, North Point if you want to stay on the Island

    70K for a VP in a non bulge bracket bank and not FO (i suppose since Quarry Bay is usually more BO functions) is alright.

    Max sure you have reallocation allowance.
    Try to have also a flight or two for India every year paid
    Kid -> any school allowance?

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