Freshly minted banking analyst moving to HKG :) - random questions that need to be answered

dirtyape · 26-06-2011, 12:35 AM

I was being pretty sarcastic, and I gather that was not conveyed as well as I would have liked.

I like to think I am not arrogant, but perhaps blunt and straight forward. Having read a significant amount of the threads in the forum - I realize there each thread gets off point because of stupid and pointless banter. If it appears that I am arrogant, I would have to humbly disagree.

dirtyape · 26-06-2011, 12:37 AM

Hope the rest of the thread answers that question. cheers

dirtyape · 26-06-2011, 12:44 AM

Originally Posted by justjoe86:

Ok well read it back through from someone else's point of view and see if you seemed a bit arrogant or not

With exception of the word "minted" - I dont think it is arrogant. And as per last post it was a terrible attempt at incorporating humor so I can understand why you see the arrogance.

Also the last point can seem arrogance but it really isn't, cause I have travelled Asia in a shoe string budget with flights less then 200 US return.

Hope that answers your question.

justjoe86 · 26-06-2011, 12:47 AM

Ok now i'll answer you properly.

To be honest it was mainly your last paragraph that annoyed me.. where you started getting confrontational in anticipation of something that hadn't happened (ironically it was that very request that made people react the way you didn't want them to)

I'm not a banker but what I'd say is that while your salary is good, living the high life in HK is expensive especially rent, so don't get ahead of yourself. Be prepared for a smaller flat than you expect, and where you want to live depends on whether you want to commute further in order to get a bigger or nicer place. So give more info about your requirements.

Cantonese is very difficult so it's good that you're trying. Most people struggle and give up. You won't find it necessary to speak Cantonese, although of course it's an advantage.

dirtyape · 26-06-2011, 12:53 AM

Originally Posted by justjoe86:

Ok now i'll answer you properly.

To be honest it was mainly your last paragraph that annoyed me.. where you started getting confrontational in anticipation of something that hadn't happened (ironically it was that very request that made people react the way you didn't want them to)

I'm not a banker but what I'd say is that while your salary is good, living the high life in HK is expensive especially rent, so don't get ahead of yourself. Be prepared for a smaller flat than you expect, and where you want to live depends on whether you want to commute further in order to get a bigger or nicer place. So give more info about your requirements.

Cantonese is very difficult so it's good that you're trying. Most people struggle and give up. You won't find it necessary to speak Cantonese, although of course it's an advantage.

Appreciate that post mate.

I am quite aware that average rent is around 24K near the central area - given that I want to live no more than 20 mins away from my office as I have to come early into town. I was hoping to rent a 3/4 bedroom and share it - but is sub leasing allowed or do I need to line up room mates prior signing my contract?

justjoe86 · 26-06-2011, 12:59 AM

Originally Posted by dirtyape:

Appreciate that post mate.

I am quite aware that average rent is around 24K near the central area - given that I want to live no more than 20 mins away from my office as I have to come early into town. I was hoping to rent a 3/4 bedroom and share it - but is sub leasing allowed or do I need to line up room mates prior signing my contract?

http://hongkong.geoexpat.com/forum/53/thread10796.html

Although I just noticed that was four-five years ago, I think it's probably still relevant.

dirtyape · 26-06-2011, 01:54 AM

yeah i was not sure. hopefully it isn't. a mate of mine who did the same thing in UK managed to do it - however, he by passes the renters law by writing a direct contract with the owners of the place. Dont know how the courts will perceive it thou - however from what I gather Hong kong renters law favors the owners more than the tenants but it still does not address the issue.

MovingIn07 · 26-06-2011, 08:57 AM

Something with 3/4 bedrooms anywhere near Central would be incredibly expensive. Your 24k estimate is ok for something small, one bedroom perhaps two. Nothing here is large; anything within 20 mins of Central typically very expensive (having said that, 20 minutes in a cab outside peak hours will take you a fair way - late evening I can get nearly home in 20 mins from Central and I live near Tuen Mun!).

Sharing is not common (although more common among people like you, so you might find someone). Unless you really want the company, I would not share for the sake of saving money because you probably won't. Try asking around your firm if you really want to share, you'll have more protections if you share with a colleague (much less likely they can run out without paying the rent if they work for the same organisation).

Most expats don't learn Cantonese - it's hard; not really necessary; the locals usually answer in English anyway if you try or don't even notice you are trying to speak to them in Cantonese. If you really want to learn Chinese, I'd learn some Mandarin. Quite a few people here speak it; more useful for business and if you travel to China you'll really need some Mandarin. But each to their own.

3. What items should you bring with you?
As little as possible (small flat; little storage). Unless you are a stickler for certain food or toiletry items, in which case bring a few packets (most stuff you can get here; some not - search for the various threads on "what do I miss most in HK" and you'll quickly figure out what's missing.

4. Suits for the office - who knows? That's a question for a work colleague. I've never seen a banker or lawyer in HK without a suit on (except while hiking!) but there may be some places where they don't require them. I'd be surprised though.

6. work culture for bankers? Banking is global and HK is a global centre. Go figure.

7. travel every other weekend? sure. airport is 25 mins from Central on the airport express. yes you will probably work long hours though. but lots of places are not that far away. once a month might be more sensible approximation.

dirtyape · 26-06-2011, 02:59 PM

Originally Posted by MovingIn07:

Something with 3/4 bedrooms anywhere near Central would be incredibly expensive. Your 24k estimate is ok for something small, one bedroom perhaps two. Nothing here is large; anything within 20 mins of Central typically very expensive (having said that, 20 minutes in a cab outside peak hours will take you a fair way - late evening I can get nearly home in 20 mins from Central and I live near Tuen Mun!).

Sharing is not common (although more common among people like you, so you might find someone). Unless you really want the company, I would not share for the sake of saving money because you probably won't. Try asking around your firm if you really want to share, you'll have more protections if you share with a colleague (much less likely they can run out without paying the rent if they work for the same organisation).

Most expats don't learn Cantonese - it's hard; not really necessary; the locals usually answer in English anyway if you try or don't even notice you are trying to speak to them in Cantonese. If you really want to learn Chinese, I'd learn some Mandarin. Quite a few people here speak it; more useful for business and if you travel to China you'll really need some Mandarin. But each to their own.

3. What items should you bring with you?
As little as possible (small flat; little storage). Unless you are a stickler for certain food or toiletry items, in which case bring a few packets (most stuff you can get here; some not - search for the various threads on "what do I miss most in HK" and you'll quickly figure out what's missing.

4. Suits for the office - who knows? That's a question for a work colleague. I've never seen a banker or lawyer in HK without a suit on (except while hiking!) but there may be some places where they don't require them. I'd be surprised though.

6. work culture for bankers? Banking is global and HK is a global centre. Go figure.

7. travel every other weekend? sure. airport is 25 mins from Central on the airport express. yes you will probably work long hours though. but lots of places are not that far away. once a month might be more sensible approximation.

Thank you so much for the direct answer.
I was hoping to rent a 3/4 bed room to reduce to rent - i'd be happy to share a 3-4 bedroom apartment to only pay 10-15k as i make 43k a month roughly i hope to spend that savings on travelling but i think once a month sounds more realistic.

if i have to come in the office around 6:30 - does it make sense to live further out as cabs are cheap and I can arrive pretty quickly at a decent rent?

really appreciate the answers mate thanks!

BruceHung · 26-06-2011, 02:59 PM

Originally Posted by dirtyape:

7) Can I afford to travel every other weekend - note Im not an investment banker, im on the markets side ie Sales & Trading so I have life - or do I?

Hours here is definitely more and off wack if you work for a multinational company. Teleconferencing on a 7-8pm is not usual. But I think you make up for it by living in a city and not having to drive a 40mins -1 hour in traffic (for me). If you are from the suburbs, buying everyday stuff is also a lot time consuming compared to here. Yes, you'll have a life unless your boss hates you.