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Should I accept the offer - Manager role <50k hkd?

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  1. #11

    Yes, this is a MNC, with presence in multiple locations outside HK.

    Quote Originally Posted by shri:
    If you have revenue or BD responsibilities 50K as a base should be fine with a structured commission.
    Actually, this role does not have a commission / revenue attached. Client's expectation is I handling the team (of course), and helping the business grow - talk to clients, make services presentations / pitches, etc.. Nothing clearly said about day to day work till now in any of the meetings.

    I couldn't find a way to edit my original post, so adding a question here:

    Is the housing allowance included in the overall package? Or this is over & above the package. And it IS taxable, right..?

    What else I must make sure, is in the package breakdown?
    Base salary
    Housing allowance
    Medical + dental insurance
    Annual flights to home

    Thanks.

  2. #12

    Whether the housing allowance is included or not in the package is something that you would need to clarify with the recruiter apart from the other benefits that you mention as it all depends if you are getting an expat package or not.

    There is a taxation element on the housing allowance but it all depends on how the company giving it to you accounts for it. There is a refund of rent scheme under which the taxation on the housing allowance portion is nominal.

    You can refer to this link:
    https://www.gov.hk/en/residents/taxe.../residence.htm

    Assuming this package already includes the housing then i don't think you will be able to save 21 K hkd per month that you currently are managing to save, so critical for you to find out the accurate break-up of your offer.

    Other than the financial considerations, there will certainly be a downgrade in terms of quality and size of space you would probably get in HK and as people have already pointed out - there is a lot of pollution in HK - again depends on what that is compared to your existing place of living.

    expatmaybe_hk and shri like this.

  3. #13

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    50k could be ok if you are already here. But coming here as a foreigner and taking the risk. Heck no...

    Here's why:
    1) you need to give up your current stable job
    2) you need to sell/cut ties with your current life (home, car, furniture's, etc)
    3) you need to pay for 3.5 month's rent up front when you get to HK. You lose this if you lost your job or decided you wanted to leave suddenly.
    4) you also need to pay for furniture's for your new flat, so there's considerable cash you need to get started when you land in HK

    And 12-15k but you thought you would be in 600'? Where's the LOL. 12k studio is less than 200 sq ft and the bathroom so small that you shower over your toilet. Sound interesting to you? It's disgusting...

    Do you want new or old (paint falling off walls, lift seems like it will break every time up and down, you'll soon be on here asking how to fix or address these things, short answer, deal with it)

    New studios/1bed 20-25k per month in a legit building with a good location. 30-50k will get you something decent, size wise, probably with old decoration style. You won't be a baller even spending that much in rent so don't think that.

    Now yes many people live in cheaper flats or further away. That's great but when you first arrive I recommend to live in a central area for the first year or two then move once you've had time to explore. Cheaper flats will have some problems, not new, low floor, water leaking, too hot in summer, mass murder in your flat, bad Fung Shui (many people believe in luck and that having good luck at home can give you better fortune here - I believe). Don't try to save a few thousand to add daily headaches to your life. Time is valuable.

    With that being said.

    You will want 50k basic, defined bonus structure, 20k minimum rental reimbursement. Then look for apartments in the 20-30k range.

    If not, say no and move on.

    varun1979 and expatmaybe_hk like this.

  4. #14

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    Yes rent reimbursement is taxable.

    50k income
    20k rent
    1.5k mpf
    2-3k utilities
    1k phone transport
    5k taxes

    20k left
    You don't plan to eat ? You said you like healthy food? Supermarket is expensive.
    You won't save much.

    Now they will prob offer you 40k. Means you have less than 10k left before calculating food, going out, drinks, travel, gym.


  5. #15

    Join Date
    Apr 2016
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    239

    I know single people who survive on 8k with a bland lifestyle... so thats 40k savings for you if you're up for it.

    SpeakCantonese likes this.

  6. #16

    Join Date
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    薄扶林
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    47,963
    Quote Originally Posted by ajohnso2:
    I know single people who survive on 8k with a bland lifestyle... so thats 40k savings for you if you're up for it.
    New studios/1bed 20-25k per month in a legit building with a good location.
    Not everyone needs to or wants to live in a 20K studio. If you're in early career stage and CV building, I can think of far worse places to be compared to HK, for $50K a month. Good accomodation can be found at 12-15K a month and less if you're willing to share with someone else.

    One reason I would advise caution would be - if you get sent to a cheaper country after HK your company could potentially go "housing is 30% cheaper than HK" so you now have to take a salary cut. Establish a base level of what you're worth to the company and negotiate from there. Don't negotiate solely on cost of living.

    Another - unless you make quantum leaps in earnings or move to better paying jobs/employers, your rental increases regardless of starting point (10 or 20K or 50K) will outpace your salary gains and you'll find your self constantly downgrading your lifestyle.

  7. #17

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    Yes, that's a good point too. Rents continue to go higher and higher too forcing people to move further out every year or so. The benefit about owning is your payment is relatively stable, whilst interest rates have increased a bit, those movements are far smaller than the rental increases.


  8. #18
    Quote Originally Posted by varun1979:
    Whether the housing allowance is included or not in the package is something that you would need to clarify with the recruiter apart from the other benefits that you mention as it all depends if you are getting an expat package or not.

    There is a taxation element on the housing allowance but it all depends on how the company giving it to you accounts for it. There is a refund of rent scheme under which the taxation on the housing allowance portion is nominal.

    You can refer to this link:
    https://www.gov.hk/en/residents/taxe.../residence.htm
    Thanks. I will confirm this with the recruiter. I think he mentioned at one point in conversation, that housing allowance will be part of the package & paid in cash so there will be no tax.

    Assuming this package already includes the housing then i don't think you will be able to save 21 K hkd per month that you currently are managing to save, so critical for you to find out the accurate break-up of your offer.

    Other than the financial considerations, there will certainly be a downgrade in terms of quality and size of space you would probably get in HK and as people have already pointed out - there is a lot of pollution in HK - again depends on what that is compared to your existing place of living.
    Yeah, I agree. Unless housing allowance is a separate component, can't save up the minimum target (21k). Overall, it'll not be a good move. My current location has fresh greenery around w/ birds chirping occasionally in the morning.

  9. #19
    Quote Originally Posted by MandM!:
    50k could be ok if you are already here. But coming here as a foreigner and taking the risk. Heck no...

    Here's why:
    1) you need to give up your current stable job
    2) you need to sell/cut ties with your current life (home, car, furniture's, etc)
    3) you need to pay for 3.5 month's rent up front when you get to HK. You lose this if you lost your job or decided you wanted to leave suddenly.
    4) you also need to pay for furniture's for your new flat, so there's considerable cash you need to get started when you land in HK

    And 12-15k but you thought you would be in 600'? Where's the LOL. 12k studio is less than 200 sq ft and the bathroom so small that you shower over your toilet. Sound interesting to you? It's disgusting...
    Ah, I'd been thinking on these points today too. Leaving everything behind, for less revenue.

    Point 3) - is this the norm? Why is the advance deposit lost if job is lost? Wouldn't it be returned? How is someone expected to drop in 3 month rent right away on landing in HK..?
    Point 4) - I thought furniture, & other house items are covered in the relocation package. At least that's what the recruiter told me..

    Do you want new or old (paint falling off walls, lift seems like it will break every time up and down, you'll soon be on here asking how to fix or address these things, short answer, deal with it)

    New studios/1bed 20-25k per month in a legit building with a good location. 30-50k will get you something decent, size wise, probably with old decoration style. You won't be a baller even spending that much in rent so don't think that.

    Now yes many people live in cheaper flats or further away. That's great but when you first arrive I recommend to live in a central area for the first year or two then move once you've had time to explore. Cheaper flats will have some problems, not new, low floor, water leaking, too hot in summer, mass murder in your flat, bad Fung Shui (many people believe in luck and that having good luck at home can give you better fortune here - I believe). Don't try to save a few thousand to add daily headaches to your life. Time is valuable.
    I do believe in the energy / spirits / feng shui / in the house/apt/ residential complexes. I almost always prefer to get the house cleansed by the local priest first, whichever country I work out of. Have had a handful of experiences over the years..

    With that being said.

    You will want 50k basic, defined bonus structure, 20k minimum rental reimbursement. Then look for apartments in the 20-30k range.

    If not, say no and move on.
    What's the bonus structure like? I am told bonus and promotion is at the end of year..

  10. #20
    Quote Originally Posted by shri:
    Not everyone needs to or wants to live in a 20K studio. If you're in early career stage and CV building, I can think of far worse places to be compared to HK, for $50K a month. Good accomodation can be found at 12-15K a month and less if you're willing to share with someone else.

    One reason I would advise caution would be - if you get sent to a cheaper country after HK your company could potentially go "housing is 30% cheaper than HK" so you now have to take a salary cut. Establish a base level of what you're worth to the company and negotiate from there. Don't negotiate solely on cost of living.
    Thanks. I did post this in my OP, but just to confirm once more, I am not in early career stage. I've worked in extreme (worse & better) countries than HK. Whether I've a big/small house, I just prefer to stay by myself. I am looking at spending upto an year w/ this employer, & it is unlikely they'll be shifting my role off-shore. So, not really concerned about that.

    Another - unless you make quantum leaps in earnings or move to better paying jobs/employers, your rental increases regardless of starting point (10 or 20K or 50K) will outpace your salary gains and you'll find your self constantly downgrading your lifestyle.
    I didn't really give it a thought as I'd pro'lly be moving out of HK after an year. Good point, with rents constantly going up, it'd be a challenge to keep shifting houses.

    Establish a base level of what you're worth to the company and negotiate from there. Don't negotiate solely on cost of living.
    I really like this point. The client likes my portfolio, & what I bring to the table. But the recruiter is handling offer on their behalf & he always sounds scared as sh** to negotiate a better offer with them, and doesn't want me to leave this either..
    shri likes this.