From Singapore to Hong Kong

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  1. #1

    Join Date
    Jan 2008
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    4

    From Singapore to Hong Kong

    Hi there, i need some advice. I have been offered a promotion and a relocation from Singapore to Hong Kong from my present office. I want to know how much more I should be expecting from my current package. I suppose there should be a promotion increment, plus at least 15% more for higher cost of living? plus at least HKD25K per month for housing allowance?


  2. #2

    Join Date
    Oct 2005
    Location
    Ma Wan
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    241

    As so often.. the answer is "it depends".

    For example: Are you being promoted from Managing Director to Vice President or from Project Assistant to Project Manager... Surely at least the housing allowance will differ ;-)

    It might also matter if you are Singaporean or already an expat in Singapore (with existing benefits). Or if you are single or have a family with 3 kids...


    If it helps, I was sent here from Singapore as well and I received about 30% more. The 30% already covered the increase in housing costs in comparison to my rent in Singapore. But as I said, it all depends on a number of factors.


  3. #3

    Join Date
    Jun 2005
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    Hong Kong
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    Is the cost of living still higher? We keep being told that Singapore property prices are getting close to Hong Kong's? Plus the exchange rate SGD/HKD has moved significantly in the past year. I'm not sure I would be expecting much of an adjustment beyond whatever the promotion itself is worth.

    (Assuming no school fees etc)


  4. #4

    Join Date
    Oct 2005
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    Ma Wan
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    241
    Quote Originally Posted by PDLM:
    Is the cost of living still higher? We keep being told that Singapore property prices are getting close to Hong Kong's? Plus the exchange rate SGD/HKD has moved significantly in the past year. I'm not sure I would be expecting much of an adjustment beyond whatever the promotion itself is worth.

    (Assuming no school fees etc)
    You might actually be right. My 30% was 2 years ago, but recently I have heard that many of my colleagues in Singapore pay about the same rent as I do here in HK for comparable apartments. Even food seems to be not a big difference anymore, I noticed that when I was back in SG last month.

  5. #5

    Join Date
    Jan 2008
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    4

    My promotion is from Sales mgr to sales Dir. So I should be expecting quite a good package right? But unfortunately, i just realise they are not even going to pay for housing. Its just a 20% increase in pay overall. which I think is not fair cos housing is very expensive in HK right? Plus i would need to pay for extra things that I don't need to pay when in Sing, like Maid (cos I have a kid whom my mum looks after now) and opportunity cost cos wife needs to look for new job there? what other cost i need to consider when there? No CPF right? Income tax is higher?


  6. #6

    Join Date
    Jun 2005
    Location
    Hong Kong
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    Income tax is capped at 15% flat. There is MPF which is 5% capped at HK$1000/month. Accommodation is apparently not much different now. Tell us what you are paying now and we can tell you what you will get in HK for that price. Allow HK$5000/month for the all in cost of a full-time live-in maid.


  7. #7

    Join Date
    Jan 2008
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    me singaporean. so over here in Singapore it is very easy .. staying in HDB flat. So you can imagine how difficult it will b for me if i don't get a housing allowance in HK! i have a feeling my company is offering me 'local terms' instead of expat terms. is there such a thing?


  8. #8

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    Jun 2005
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    Do I understand you correctly that Singaporeans get free housing?


  9. #9

    Join Date
    Nov 2005
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    Cramped island
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    he doesn't, but i suppose to him hdb housing has mortages paid from the pension account (mpf equivalent) so the cost is equivalent to zero...

    since u have a hdb flat, then rent it out if you think the cost of housing is too high. u are going to get a return that can help foot your rental in hk.


  10. #10

    Join Date
    Jan 2008
    Posts
    4

    Since you are Singaporean working in Singapore, you tend to do whatever you want with housing without additional pay / allowances. If you want to save money you can even stay with parents right? So to bring me out of my home country I assume it is fair my company pay wholly for housing which will otherwise be substantial from my pay package.


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