Right. Is this enough to live on in HK?

2710 · 31-05-2014, 06:13 AM

Hi, new to this forum

So I am from the UK, and I have just found a job that has offered for me to work in HK.

The salary is $22k/month first year and $24k/month second year. They are providing accommodation for the first month and afterwards they said they will provide support for me to find my own and may suggest that I flat share with some of the other company colleagues.

I will be by myself. How frugal a life will I have to live? Is this a feasible amount to live off and work full-time as well?

My reasoning is that if this is a programme that has been accepted before by many others, then they must have survived somehow?

Can I also ask how much the income tax is in HK?
There is also a possibility of me having to work in Singapore for sometime as well and they are paying $40k SGD a month. How is this?

Thank you.

Oldtimer · 31-05-2014, 06:23 AM

At $22K without rental allowance, you will struggle. At this salary, your tax will be less than 10%.
SGD $40 K is equal to HK$240K a month. Are you sure they will pay more than 10 times in Singapore? May be it SGD $4K?

Originally Posted by 2710:

Hi, new to this forum

So I am from the UK, and I have just found a job that has offered for me to work in HK.

The salary is $22k/month first year and $24k/month second year. They are providing accommodation for the first month and afterwards they said they will provide support for me to find my own and may suggest that I flat share with some of the other company colleagues.

I will be by myself. How frugal a life will I have to live? Is this a feasible amount to live off and work full-time as well?

My reasoning is that if this is a programme that has been accepted before by many others, then they must have survived somehow?

Can I also ask how much the income tax is in HK?
There is also a possibility of me having to work in Singapore for sometime as well and they are paying $40k SGD a month. How is this?

Thank you.

hullexile · 31-05-2014, 06:29 AM

What is the job? Will it lead to better things in the future?

2710 · 31-05-2014, 06:48 AM

Lol sorry, I meant $40k per year

Hmm... in what ways will I struggle?

It is a Data Analyst job, my clients will be big banks, so I am hoping it could lead to big things in the future. I'm not sure if it is worth it though.

Say I had accommodation, how frugal will I have to live then? I do ave some relatives, and my uncle has a flat, but he lives in the UK, so there's potential there.

Ty

Prefab Sprout · 31-05-2014, 07:32 AM

Originally Posted by Oldtimer:

At $22K without rental allowance, you will struggle. At this salary, your tax will be less than 10%.
SGD $40 K is equal to HK$240K a month. Are you sure they will pay more than 10 times in Singapore? May be it SGD $4K?

Why would he struggle? He's single. If he flat shares for say, $5k, after tax he'll have $15k. If he's a young guy it's not bad at all. I really can't get how he could struggle.

hktraveller · 31-05-2014, 08:44 AM

Originally Posted by Oldtimer:

At $22K without rental allowance, you will struggle. At this salary, your tax will be less than 10%...

At 22k the tax will be 12480 minus the tax reduction if available. (currently 25% capped at 10000) In any case it will be under 5%. At 24000 it will be 5.8% at the most.

WMDS · 31-05-2014, 09:01 AM

If u relocate from uk to asia on that kind of salary, then it would be for building experience. Data analyst is an entry level job so dont expect an expat package. 22k is enough to survive on as long as your uncle does you a favour by renting cheaply to you. Tax would be minimal, nothing compared to Uk. Wish u the best of luck!

2710 · 31-05-2014, 08:29 PM

Originally Posted by WMDS:

If u relocate from uk to asia on that kind of salary, then it would be for building experience. Data analyst is an entry level job so dont expect an expat package. 22k is enough to survive on as long as your uncle does you a favour by renting cheaply to you. Tax would be minimal, nothing compared to Uk. Wish u the best of luck!

Thank you for pointing out that it is an entry level job. I have just graduated so I am expecting that and was not requesting an expat package. You say that $22k is enough to survive on given that my uncle rents to me cheaply? So are you saying that I wouldnt be able to find my own place on $22k? Because I would prefer not to have to rely on relatives. As one person above has mentioned that I can find accommodation for $5k shared?

Is this possible?

Ty

WMDS · 31-05-2014, 08:57 PM

Anything is possible if you are in the right time andplace. 5k shared is possible in boarding houses in medium distance to remote places from Central. Ultimately you get what you pay for.

Prefab Sprout · 31-05-2014, 09:05 PM

http://hongkong.geoexpat.com/classif...cat.php/cat/14

This is without trying and being lazy. You can find a flatshare for 5k if you look and if your employers know other crew who are already sharing it will be easy. It's even possible to get a rental for 5k but you'll be in the sticks and it will be crap.