Salary & Housing Allowance for 2-3rd yr Associate

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  1. #1

    Join Date
    Nov 2007
    Posts
    25

    Salary & Housing Allowance for 2-3rd yr Associate

    The low-down:

    I've been headhunted for an Associate position on the principal investment side with a US bank in HK. I've 4-yr investment work experience in China, graduated in top percentile of a top 5 US college. Asian, fluent in English and Mandarin. My prior experience is not with an IB but more of an in-house inv role within a foreign corporation with extensive investments in China. Pretty similar to what the PE funds do.

    This is likely to be a second yr Associate position.

    Is asking for 120K USD p.a. in the right range and is it reasonable to ask for housing allowance on top of that? Or assuming that the housing allowance doesn't materialise, I think it makes sense to not ask for housing to be separately accounted for as this would reduce my base pay i.e. future bonus, even if I save some taxes.

    Advice please!


  2. #2

    Join Date
    Apr 2005
    Posts
    250

    What compensation advice has the headhunter that recruited you given you?


  3. #3

    Join Date
    Nov 2007
    Posts
    25

    we haven't gone into full blown details. She mentioned 80-100k, but didn't mention if it included other things. I think it's too low if it's all-in, not to mention the high cost of living in hk. I've got 2 other unconfirmed offers, and they are trying to see if they can match them.

    Also, I'm likely to have the options of working in Shanghai, HK or Singapore. SH and SG is more on the fund mgmt side and HK is on the principal inv side.

    It's a tough call deciding which location to be in. Net of taxes, even at 100K USD (and assuming no housing on top), HK works out to be give me the lowest-take home pay and will also leave me with the lowest disposable income after I factor in the housing costs. The only reason to be in HK for a different exposure from China, but yet get the Greater China exposure. HK is also more cosmopolitan. Yet I see that many investment principals are relocating to Shanghai fr HK.

    SG will give me a broader-based Asia exposure.


  4. #4

    Join Date
    Nov 2007
    Posts
    1

    2-3 year associate

    Yes, its always better to get housing allowance in addition to the basic. HK rent is ridiculous. I think at least HKD25k a month on top of what you are getting.