Like Tree19Likes

Too old to move to HK? Is this a decent deal?

Reply
Page 3 of 6 FirstFirst 1 2 3 4 5 6 LastLast
  1. #21

    Join Date
    Dec 2002
    Location
    ???
    Posts
    39,592

    >> Bonus can never be guaranteed in my thinking as it is shared profits from the year (or quarter or half year) before so it's good you pointed out this to them!

    You're not in banking are you? I remember the bankers vigorously defending their guaranteed bonuses in 2008-9.

    >> we're so much better at suffering in silence!

    Not after you move to Asia. You will have to learn to talk very loudly and often very slowly if you want to be taken seriously by the locals.

    Char Siu King likes this.

  2. #22

    Join Date
    Oct 2004
    Location
    Midlevels / USA (MD) / London
    Posts
    2,218

    One other thing to get confirmed is repatriation expenses. They are asking you to go over as a 'local' but quite frankly you are not. If the company decides to shutter the HK operation after 10 months or the company starts to wind up, you could find yourself stuck in Hong Kong without the funds to return, or with just enough to return with two suitcases and not of your possessions (let alone breaking a lease, etc). You should have a return ticket guaranteed if the company terminates the position or something like that.

    shri likes this.

  3. #23

    Join Date
    Apr 2011
    Posts
    2,447
    Quote Originally Posted by penguinsix:
    One other thing to get confirmed is repatriation expenses. They are asking you to go over as a 'local' but quite frankly you are not. If the company decides to shutter the HK operation after 10 months or the company starts to wind up, you could find yourself stuck in Hong Kong without the funds to return, or with just enough to return with two suitcases and not of your possessions (let alone breaking a lease, etc). You should have a return ticket guaranteed if the company terminates the position or something like that.
    Thanks - its already on my list of questions I sent them yesterday and haven't yet been answered. We're a global player - and a big name consultancy - so shouldn't be an issue but as a minimum, I want a guaranteed return ticket...and let's not even get into the argument about economy seats yet lol.

    I've actually just sent an email to my Global Head in the US who asked me to move being VERY candid about my expectations and explaining that the existing offer falls well below them. I've used the Rob Walters salary survey as back-up. I have either blown the deal completely or they will have to make me a better offer....only time will tell. Its a risky approach but I don't like being taken advantage of and the worse they can do is say no - or sack me from my current job! ;-) She who dares wins....or at least goes down fighting!
    TheBrit likes this.

  4. #24

    Join Date
    Apr 2011
    Posts
    21

    bibbju, you're taking the right approach. You HAVE to play hardball. This is your life you are talking about, and you can't make a massive upheaval like this without being 100% comfortable with the package. If you feel compromised before you go, you will be unmotivated and negative from day one.

    I totally disagree with posts which argue that lower tax means you might be better off. Irrelevant - from the employer's perspective you will be going at a cut rate. It should be the individual who benefits from low income tax rates, not the employer.

    I am in the midst of making the move myself. My offer was based very much on the London salary converted into HK dollars, plus the pension contributions my employer makes in London but which isnt paid seperately in HK, plus an uplift to take into account a new move, plus an uplift to take into account the fact that I am leaving at around the same time as London pay reviews are made. It, too, is an internal transfer.

    I'm very happy about the offer I got. That income tax is much less is to my advantage, NOT the firm's.

    Stand fast.

    bibbju likes this.

  5. #25

    900k or 1.2 mil for 2 years...

    Ok you lose out on 600k (can't even get a garage in london) but you gain 2 years of life experience in Asia, something you'll remember til the day you die

    or be the richest corpse in the cemetary


  6. #26

    Join Date
    Apr 2011
    Posts
    2,447

    Just a quick update: my US boss wants me to call him tomorrow. Could be good, could be bad, could be more of the sub-standard offers....will keep you posted.

    Thanks again everyone for your advice, I really appreciate it!


  7. #27

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,586
    Quote Originally Posted by arshavanpersie:
    900k or 1.2 mil for 2 years...

    Ok you lose out on 600k (can't even get a garage in london) but you gain 2 years of life experience in Asia, something you'll remember til the day you die

    or be the richest corpse in the cemetary
    This kind of thinking is OK when you are 25 and have nothing to lose

    When you are 40 with good career track record, there is no reason to compromise that way.
    Char Siu King, Skyhook and bibbju like this.

  8. #28

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    4,895
    Quote Originally Posted by scobienz:
    bibbju, you're taking the right approach. You HAVE to play hardball. This is your life you are talking about, and you can't make a massive upheaval like this without being 100% comfortable with the package. If you feel compromised before you go, you will be unmotivated and negative from day one.

    I totally disagree with posts which argue that lower tax means you might be better off. Irrelevant - from the employer's perspective you will be going at a cut rate. It should be the individual who benefits from low income tax rates, not the employer.

    I am in the midst of making the move myself. My offer was based very much on the London salary converted into HK dollars, plus the pension contributions my employer makes in London but which isnt paid seperately in HK, plus an uplift to take into account a new move, plus an uplift to take into account the fact that I am leaving at around the same time as London pay reviews are made. It, too, is an internal transfer.

    I'm very happy about the offer I got. That income tax is much less is to my advantage, NOT the firm's.

    Stand fast.

    very much depends on company and their tax structure.
    if the company is going to price in lower tax in hk in their offering of services then playing hardball is not going to get you any deals..

  9. #29

    Join Date
    Feb 2009
    Posts
    6,895

    Based purely on the fact that its the company pushing you to move to HK, rather than you pushing to move to HK, I see no reason why the company should offer you less than what you are getting now in Paris. That should be the absolute bottom starting point and then you negotiate upwards from there as 'compensation' for your relocation.

    I find it utterly absurd that your company would offer less than you get now at the same damn company already in Paris. Sorry, am I missing something obvious? You say this is a global consultancy firm? They sound like idiots. I hope they are not HR consultants.

    If you are already getting HK$1.2m now in Paris, thats your absolute bottom line starting point for any negotion if they want you to move. Simple as that. Tell them firmly, but its just common sense. I dont see how they can argue against basic common sense.


  10. #30

    Join Date
    Jun 2009
    Posts
    90

    Minor detail but I don't get this: you have an appartment in UK (which makes sense) but you live/work in Paris. Assuming you're not commuting between Paris and London every day, don't you have any accommodation expenses in Paris?


Reply
Page 3 of 6 FirstFirst 1 2 3 4 5 6 LastLast