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Considering Transfer Offer to HK

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  1. #21

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    Don't be so negative. On the same salary it's easier to live in Hong Kong than London as long as you don't try to live like a traditional expat who sends their kids to expensive international schools, lives in an ivory tower to avoid locals at all costs etc.

  2. #22

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    Take a look at Gold Coast. They have a shuttle bus to Olympic on weekdays. Next to beach and hiking trails. Good local kindergarten. Lower prices. 60k is easily enough to live here.

    Kreaner likes this.

  3. #23

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    Btw, you do realize that you cannot enter HK without a 3 week hotel quarantine, right? It's fine if you need to do it one time to come here to live, but we can't see the end of this restriction, which means once you're here you're sort of trapped. People in other countries are enjoying a much higher degree of freedom, albeit with far less control of covid.

    jimbo and HK_Katherine like this.

  4. #24

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    As others have said I’d revise your budget and lower your expectations.

    In my area which is Lai Chi Kok etc a two bedroom apartment is $17k a month, That’s more doable especially on a $60k monthly salary.

    Why the need for 700 sq feet and a 3 bedroom?
    The 3rd bedroom tends to be little more than a broom cupboard anyway.

    $1500 a month on groceries is way too low, We’re spending that per week for a family of 3 here in London for example.

    Dairy and any imported western goods in HK are expensive.
    For example something basic in Tesco’s/Sainsbury’s will cost you 3-4 times that in HK.

    Kreaner and SonicYouth1 like this.

  5. #25

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    We live as a couple on 50k living in a walkup and are quite happy, but absolutely enjoy our life because we don't have kids and we live in a 500 sqft walkup (15k). With the other 10k of your salary at our current rent we could live happily with a child/schooling or a bigger house/rent but not both. Downgrade your rent or you're going to feel the squeeze. We budget 6k hkd for food a month as a couple including all dining out because this is roughly all you can enjoy in life right now. If we scrounged and cooked at home more (we cook at home about 60% of this) We could cut to 5k or mayyyyybe 4.5, but unless you're cooking very simply rice and noodle or are very successful living a local lifestyle it would be hard to cut food more than that. To be fair we live in central, so if you're out and commuting (New territories or island life) this could probably cut down more.

    The biggest thing I have to say is you need to have a good feeling for what you want with your kids education. Education is really getting an overhaul right now and patriotic education is being implemented in a big way (which I'm not criticizing). Ask yourself some serious questions about what you're comfortable with and know that education here is VERY expensive. Be aware you're moving to Hong Kong at a time of incredible uncertainty. Things are unhappy but stable right now, but those of us who live here are literally checking the news multiple times a day to see how our lives will be affected and every month we are seeing major changes. I love Hong Kong. I love living here. I have no plans to move anytime soon unless we see a major collapse of something, but I know that this is 100% possible. Move here if you want (it's lovely), but do it with eyes wide open--you're in for a roller coaster.

    Kreaner, Elegiaque, bsh and 3 others like this.

  6. #26

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    Doesn't sound great to come here on 60k for family of three. I would only do it if I was early in my career and more or less guaranteed would have a quick salary progression upwards, at least to the 70-80k range. Or that your wife can find work with a salary of say 30-35k, you can then find a larger flat and hire a maid (which will cost you some 15k extra). Those 10-20k extra (over your current offer) per month makes a big difference.

    Kreaner likes this.

  7. #27

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    Feb 2021
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    Thanks to everyone for the helpful replies.

    At this stage, we're evaluating the transfer offer and from responses, the option to decline is looking better... I've been told there could be a promotion in the next 6 months which should bolster my income by another 10k HKD/month, but the impression I'm getting is that even that would be insufficient. My initial thought had been that the salary would be enough for a similar transference in living standards (it's a decent salary even in London, although not outstanding), but that's looking less likely. I'll definitely chase the rental reimbursement option but considering it wasn't mentioned in the offer, I'm guessing it's not something the company will give. Also, we've been offered hotel accommodation during the quarantine period and a serviced apartment for a month to help us sort out living arrangements.

    The 3 bed/700 sq ft standard came about because we were actually looking to upgrade to these specs in London. The extra bedroom would be for family we're expecting to visit (after covid). We'll pursue options in some of the areas mentioned over the next week as well. Discovery Bay was actually one of the first places recommended to us but a colleague told me the ferry commute will be a nightmare and cost a fortune. We'll look more carefully at that option as well.

    Regarding the social unrest/political strife, we're fully aware and cautious of it. To be honest, we're considering HK as a stepping stone into Asia with the longer term plan to maybe moving to Korea later on when our child is nearer to school age. Compared to my perception of London (govt totally screwing up the covid response and message such that most people do anything to circumvent guidelines plus Brexit ruining trade and cutting off supply chains), I think a short term loss of some personal freedoms in a country I probably won't settle in long term is fine. Finally, the project pipeline in the London office looks a lot less appealing so this would be a positive career move... I've already been working with the HK office helping create a new team. There's less scope/appetite for that in the UK office.

    Tandy, Elegiaque, alexdown and 1 others like this.

  8. #28

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    Quote Originally Posted by Kreaner:
    Discovery Bay was actually one of the first places recommended to us but a colleague told me the ferry commute will be a nightmare and cost a fortune.
    You can take the bus/MTR combination that is cheaper to/from DB.
    Kreaner likes this.

  9. #29

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    D Bay isn't for everyone, but many people love it. Yes the commute at about HKD40 is “expensive” compared to c. 10 dollars for a bus or the MTR but I bet your London oyster card spend is way more. Again it's painful compared to the ridiculous ease of many people's journeys, but if you're used to being on a cold platform for the 8.04 to Victoria etc. it's no hardship to need to be at a pier on time for a regular ferry service.

    If you've never been here it's a really tough one to judge... it would help us be more definitive if you share a bit more about lifestyle... are you going to want to eat out a lot, buy western groceries, etc. Are you OK with the view out of the window being of another window. What do you like doing for leisure, and how old is the little one etc.

    Despite the tax advantages there's no way that moving with salary at parity will give you the same lifestyle though. I'd want a 30 percent uplift as a starting point.

    Kreaner likes this.

  10. #30

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    Quote Originally Posted by Kreaner:
    Thanks to everyone for the helpful replies.

    At this stage, we're evaluating the transfer offer and from responses, the option to decline is looking better... I've been told there could be a promotion in the next 6 months which should bolster my income by another 10k HKD/month, but the impression I'm getting is that even that would be insufficient.
    Very hard for us to know all your parameters of your life, what you value the most etc. Nobody else can really answer that for you. I think you take all advice given to you too much at face value. They are just advice from either these ppls points of view or someone trying try to put themselves in your shoes. In the end only you know what your shoes look like and you should research things more yourself.

    As an example people mentioned the housing reimbursement, this is to lower the taxes paid. But with your salary and having deductions due to both wife and child, this matters little to you, your tac will only be 5% on the salary. Easily calculated here

    https://www.ird.gov.hk/eng/ese/st_co..._21/stcfrm.htm

    Again where you going to live, everyone have their preferences. Taking the DB ferry daily + MTR ride will set you back some 1600 HKD per month, but perhaps with work from home some days its actually going to be less. These things you can check up yourself easily. Google DB ferry resident price = 32 HKD one way.

    So, do your own research for such an important decision!
    Kreaner likes this.

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