4Likes
Hi,
I am an Engineer + MBA with 4 yr work-ex in Product Management role in India .I have a job offer at HK with Basic Salary of 35K HKD pm,Annual Bonus of 42K based on Performance. Benefits includes Health Insurance ,Relocation Expenses.
If i were to accept this offer,i intend on moving to HK with my wife(She is a Law Graduate).
My Estimate for the expenses based on research are :
House Rent $14,000~Stay options identified at Hung Hom,Laguna City,Tsim Sha Tsui.
Utilities (Water Gas, Electricity, TV, Internet,Phone ) $1,000
Other House hold exp. $6,000
Local Transportation $1,000
Family Insurance $800
Yearly travel ticket cost to India $1,000(Monthly saving -Annual 12K)
Income Tax $2,500
TOTAL ( HK $) $26,300
The offered profile is good but the stumbling block for me are :
1.the savings(I think , i will be able to save 4 months expenses after a year) i am going to take home based the higher cost of living in HK & supposedly a lower Salary offer. 2.Job opportunities for my wife.
Based on the experiences that fellow forum members might have had earlier with regards to relocation/moving into HK, Salary Negotiations,Job experiences .e.t.c.,i wanted to check if there anything else that can be negotiated on the salary part ,
Job opportunities for my wife , & finally whether the offered salary is worth all the effort to move to HK.
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02-06-2014, 06:12 PM #1
Moving to HK from Mumbai/India
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02-06-2014, 06:20 PM #2
How much does this salary compare with your current salary?
How would your wife feel about not working?
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02-06-2014, 06:41 PM #3
Hi,
When the base for both is taken as HKD, offered Salary is higher than the current salary (around 250% ) which i think may not be the correct indicator to compare as Cost of living expenses in HK are around 214% times than in India.
As far as my wife is concerned,she will be okay to not work .
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02-06-2014, 09:08 PM #4
You might struggle to pay for all your monthly utilities with $1000, especially in summer. I would budget a bit more.
Regarding your package, maybe you could negotiate part of your salary as an allowance for rent.
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02-06-2014, 09:27 PM #5
$14k won't get you much at Laguna. Try $18k -$20 for something liveable
Utilities will be closer to $3k
Transportation will be about $50/day/person.
What is family insurance? Health insurance?
Your groceries will be about $4-6k/ month. Will you be eating out? You have no budget for entertainment.
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02-06-2014, 09:49 PM #6
Health insurance is not an essential though
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02-06-2014, 09:53 PM #7
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02-06-2014, 11:04 PM #8
Thanks .for the house I think a 300 ~400 sqft with a kitchen would do for me & wife .will that not be available at Laguna?
My travel would be towards manulife financial centre at Kwun tong.
my health insurance will be covered by the company ,I have included the insurance for my wife towards the expenses .
i intend to cook at home and probably eat out/ get entertained once a fortnight.
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02-06-2014, 11:45 PM #9
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03-06-2014, 07:24 AM #10
Originally Posted by dumbdonkey:
