Salary negotiation help needed. I quoted salary expectation lower

Roger1987 · 03-10-2018, 03:54 PM

Hi Guys,

I have an offer from a Bank in hong kong Quarry Bay. I work in the Digital Automation field (AI, RPA) and have been offered a Senior Project Manager Role. I had one round of discussion with Hr on salary. I quoted my salary expectation as 800,000.00 HKD dint negotiate the housing allowance. The HR bluntly said we can bump this salary up. I totally negated the rental costs and standard of living. Now I want to renegotiate the salary to include the housing allowance as part of the compensation or give a separate allowance ( I think both are same). Not sure how do I start the conversation. Any tips on the salary range for the role. They are in constant touch with me talking about projects and I know they really want me.

My personal details.

Age: 30.
Indian.
10 years experience ( 6 in operations banking, 4 in Transformation).
Working as a Consultant currently. Good jump for me in terms of role.
Married : no kids. Moving with wife.

Thank you. Would appreciate your help.

chuckster007 · 03-10-2018, 03:59 PM

have u signed anything yet if not then tell HR that you overlooked housing and want to discuss it again. easy peasy lol

civil_servant · 03-10-2018, 04:29 PM

Tell them a bank in Wanchai just offered you 1.2 million.

Roger1987 · 03-10-2018, 05:09 PM

Yes I will have a look at their figure what they offer if it's something that doesn't cover housing I ll negotiate. I just don't want to come across as uncertain my role mostly involves decision making

Roger1987 · 03-10-2018, 05:11 PM

The bank is aware that I am talking to another bank as well. So they had my interviews a week before and started the salary discussion last Thursday. In that haste I didn't think through this.

Roger1987 · 04-10-2018, 02:58 PM

They haven't told me about change of location. Are some banks moving out of quarry bay?

Jaz Paul · 04-10-2018, 03:15 PM

You could hold them at ransom saying you would need a higher salary ,if they move location during your contractual term since you'd be finding accommodation near to your workplace lol

Roger1987 · 04-10-2018, 03:26 PM

Oh yeah. I was thinking about renting something at quarry bay. It was relatively cheaper. But I am unaware of how the other areas cost. Is there some sort of business districts banks are moving to. If the rental costs are significantly higher I wouldn't mind asking them to include a allowance. Thanks for that. But I am not sure if they are relocating

shri · 04-10-2018, 03:34 PM

Originally Posted by Jaz Paul:

You could hold them at ransom saying you would need a higher salary ,if they move location during your contractual term since you'd be finding accommodation near to your workplace lol

This would be the stupidest reason to renegotiate salary. If I were the hiring manager I'd humbly request that the candidate grow up and fuck off.

Do you seriously think that any organisation would cater to such a request and have word get out that Mr Roger got a raise because he did not want to live in the neighbourhood?

Negotiate on your ability to make your company more money.
@Roger1987 - Have you been to HK? Most if not all banks of any decent size will move to areas with easy access to public transport.

Roger1987 · 04-10-2018, 03:42 PM

Thank you for that shri. I haven't been to Hong kong. I just started researching a week ago and I am not aware of the rental costs, cost of living in general. I am now getting to know how expensive it is. I was dragged in to salary negotiations pretty much in two days after my interview. I have another offer in australia, but the role in HK interests me.