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Getting transferred to HK with 35k net salary

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  1. #1

    Join Date
    Mar 2018
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    Getting transferred to HK with 35k net salary

    Hey guys! I'm getting transferred to HK from India and am planning to move with my wife and 1yr old son. I have been advised that 35k is not enough to lead a comfortable life. But I'm ok to travel from Yuen Long (as I saw the rent is cheaper here) to Admirality and survive on home cooked food. I neither drink nor smoke. My plan is 13k rent and 12k food, travel and utilities. Does it make sense? From your experiences, do you think if ill be able to save a nit? If so, how much I can save


  2. #2
    Quote Originally Posted by Vid:
    Hey guys! I'm getting transferred to HK from India and am planning to move with my wife and 1yr old son. I have been advised that 35k is not enough to lead a comfortable life. But I'm ok to travel from Yuen Long (as I saw the rent is cheaper here) to Admirality and survive on home cooked food. I neither drink nor smoke. My plan is 13k rent and 12k food, travel and utilities. Does it make sense? From your experiences, do you think if ill be able to save a nit? If so, how much I can save
    How long are you staying? If short-term, I'd say it's doable. If long-term. Not so much. Your kid's education will eat all your money. Also, your flat will be small, but there's plenty to do on the outside.
    Vid likes this.

  3. #3

    Join Date
    Mar 2018
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    4

    Atleast 5yrs is what I have in mind. I understand that schooling will destroy my earning but I think I can stay until then.


  4. #4

    Join Date
    Dec 2016
    Posts
    278

    You will get by fine as long as you don't need to overspend on schooling. The local system isn't as expensive as the international schools and a 1 y.o. will adjust with the local system. And by local system, I refer to private schools and not government ones as english standards are much better. You wouldn't have to spend more than 5K on schooling.

    And you can live in Tung Chung. It is much better than Yuen Long in terms of traveling and rent is similar but the apartment is relatively smaller but perfect for a 3 person family.

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  5. #5

    Something to consider is that your wife, as a dependent, can legally work in Hong Kong. She can even open her own business. For example, if your kid goes to Kindergarten, cost around 3.5K for a decent local KG, she could engage in part-time work to offset those costs. There's huge demand here for domestic helpers that can be employed legally. Your wife could easily pocket $80-120/hr. This is just one example. She could also tutor a language instead. The job market is pretty saturated here, so helping hands are always needed. Full-time work is also a possibility, but, with two parents working full-time, you might be required to hire a full-time maid.

    Vid likes this.

  6. #6

    Join Date
    Feb 2011
    Location
    Hong Kong
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    6,317

    Don't forget MPF ($1500/month), taxes ($3000/month), transportation to Central ($1,500/month), utilities.

    13k for housing in YL isn't going to get you much unless you live far away from the MTR and rely on minibus to get you to the MTR. These minibus are often full during the peak hour so hope your employer is ok with you being late for work or add $$ for taxi.

    Would say to increase your housing to 16-20k and you could find something decent. Explain to your employer the high cost of living and ask for 40k/month salary. Will make a big difference in your lifestyle.

    Vid likes this.

  7. #7
    Quote Originally Posted by MandM!:
    Don't forget MPF ($1500/month), taxes ($3000/month), transportation to Central ($1,500/month), utilities.

    13k for housing in YL isn't going to get you much unless you live far away from the MTR and rely on minibus to get you to the MTR. These minibus are often full during the peak hour so hope your employer is ok with you being late for work or add $$ for taxi.

    Would say to increase your housing to 16-20k and you could find something decent. Explain to your employer the high cost of living and ask for 40k/month salary. Will make a big difference in your lifestyle.
    Taxes $3000/month? I would say < $3000/year just of my head.
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  8. #8

    Join Date
    Jan 2016
    Posts
    732
    Quote Originally Posted by MandM!:
    Don't forget MPF ($1500/month), taxes ($3000/month), transportation to Central ($1,500/month), utilities.

    13k for housing in YL isn't going to get you much unless you live far away from the MTR and rely on minibus to get you to the MTR. These minibus are often full during the peak hour so hope your employer is ok with you being late for work or add $$ for taxi.

    Would say to increase your housing to 16-20k and you could find something decent. Explain to your employer the high cost of living and ask for 40k/month salary. Will make a big difference in your lifestyle.
    for 35k per month salary, the salaries tax should be below $500 per year after factoring in married couples (given spouse doesn't work) and dependent child's allowances along with deduction for mpf. I thought residents and foreigners were taxed alike. Or am i mistaken?
    Vid and HK_Katherine like this.

  9. #9

    I think it will be VERY tight tbh. I don’t know your individual situation or current quality of life but at just 35k per month for three people, your quality of life prob won’t be that great.

    East_coast, Vid and UK/HKboy like this.

  10. #10

    35,000 is just a starting point, I guess. Should increase later on, or you hop jobs to get into the 50,000-60,000 range.
    Yuen Long and Tung Chung are both similar commuting time and distance from Admiralty. Both have their advantages.
    For 13,000 you could rent a nice 2 bedroom with fancy clubhouse facilities (swimming pool) at The Parcville, just 6-7 min walk from Yuen Long MTR.

    Check out both areas!

    Come here, you will be fine.

    Vid likes this.

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