IS this a good salary

[vsathyan]

Hello ALL,
This is indeed a very good site answering most of the queries related to HK.

I will be moving to HK by may, with my wife and a 1 yr old kid. Iam being offered a job in an investment bank with an annual salary of 720K HKD + bonus.

Is this is a good salary as per the current HK market ?

Also, iam plannng to save around 30000 HKD month. Is this possible ? Meaning, can i do this saving with a decent standard of living ?

[deleteduser]

Depends on the job... will you be laying bricks? digging ditches? cleaning up after dogs on the street? lawyer?

[vsathyan]

I will in the IT side of the investment bank (senior analyst).

[howard_roark]

If you have @ 5 yrs experience then its an OK deal.

[vsathyan]

Can i save around 25000-30000 HKD per month ?

I will be moving with my wife and kid (1 year old).

Iam planning to look for an apartment with rental 12k / month.

[back2HK]

Meaning, can i do this saving with a decent standard of living ?

Depends on your required "standard of living?" Its a very broad question with very little details provided. What kind of food would you like to eat ? What kind of activities do you want to do? What kind of holidays would you like to take? etc etc...

[mfc]

I will in the IT side of the investment bank (senior analyst).

what does a senior analyst do?

[hamish]

12k rent is low considering you have a family, anything half decent size with easy commute will cost significantly more than this. I would pay up for something nicer and save less!

your salary seems in line

[freeier]

actually, its an interesting case study..

i am somewhat similar to the OP in terms fo family structure. me, wife and a 6mth old baby (when he came).

we are glad our flat is only 2rms and 640sqft. can't imagine how i am going to handle a much bigger place.

for that matter of fact, my apartment in singapore is 1300sqft and that's net area. cleaning up and taking care of a walking toddler in such places with 3 rooms is quite demanding!

anyway my place cost 15k for rental.

[Iramanis]

Annual HKD 720000 is HKD 60000 per month. To live comfortably, I think you need to spend around HKD 15000 to HKD 20000 on rent + charges which means that you have, say HKD 40000, left for other things. Travel, food, bills + other day to day neccessities would set you back at least another HKD 15000 to 20000 and if you want a maid another HKD 4000 per month. So, saving HKD 30000 per month in my opinion is a bit tough especially when you have taxes to think about too. I believe in HK (although I have never worked there before) they pay taxes on a yearly basis. Not sure how much your bonus will be, but assuming it covers your yearly taxes you will still have HKD 60000 net per month. You will have to be quite thrifty to be able to save HKD 30000 per month. Having said that, HKD 60000 is well above average. However, it really depends on what kind of lifestyle you choose to have so it's not an easy question to answer.