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Salary for a single person

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  1. #1

    Salary for a single person

    Hi guys,

    Have received my comp package offer today & they have presented a salary of $43,000 a month with 13th month payment. The office is based in Wan Chai but I’m not too fussed about a slight commute as long as there is an expat community! Is this salary enough to cover cost of living & give me an opportunity to travel too?

    thanks!


  2. #2

    Join Date
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    Cost of living is a 'how long is this piece of string' type issues.

    If you budget 15K for rent, should have a decent amount left for a reasonable lifestyle - post taxes and mpf & any other fixed costs.

    Big question is .. have you been to HK and have realistic expectations on what you can rent?


  3. #3

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    Define slight commute and also where would you be coming from? Transport here is great so a 20 min commute (or 50 mins) means just that. Unlike the UK for example. Shri’s 15K Is a good rent marker but you’re going to have to either commute or live in a shoebox.


  4. #4

    There's also a couple of things with working situation relating to where you live - do you know if you can Wfh? If this is a policy then you can perhaps go for a place slightly bigger but further away.

    Living close to the office does have its benefits - rush hour can be pretty awful as in any big city but I've known of colleagues who live close to the office & I would imagine that would be a bit too much to be constantly reminded of work. And if the typhoon strikes you've got no excuse for not coming in


  5. #5

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    15k got me 450-500 sqf in Wan Chai recently near star street. It's not a super fancy building but there's a lift and management office. We all have different definitions of shoebox though.


  6. #6

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    Quote Originally Posted by aw451:
    15k got me 450-500 sqf in Wan Chai recently near star street. It's not a super fancy building but there's a lift and management office. We all have different definitions of shoebox though.
    I wouldn’t call that a shoebox by HK standards and I’d say that’s an excellent price for the location. I’d have thought around 18-20K to be the mark.

    I think the message to OP is simple and oft repeated (but well worth it, have you ever tried a search on here, it’s hit and miss). Maybe your company is offering some kind of incentive? 1 or 2 months in a serviced apartment? If not a serviced apartment is pretty much the way to go anyway to give you time to look around and choose. Living in Wan Chai (or anywhere) is not everyone’s cup of tea.

    Personally I’d discount having to live in an expat area for a single person. HK is small enough for that not to be an issue and with cheap and quick transport links including taxi/Uber.
    shri, aw451, chingleutsch and 1 others like this.

  7. #7

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    My monthly expenses for a single person are about 30k, including rent of 17.5k (640 sq.ft in Tin Hau) and excluding taxes. Tax on your salary without any deductions will be 4k per month.

    I live frugally and work well with my money. If you want to go out for (western) food & drinks often then expect to save a lot less.

    shri, hullexile, aw451 and 3 others like this.

  8. #8

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    How are you all finding these places at these rentals?! When I lived in Kowloon my psf on similar sized places was higher than yours, let alone on HK island!

    newhkpr likes this.

  9. #9

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    There's many vacant properties, no matter how much Centaline claims that demand is going through the roof and the government claims there's a huge net inflow due to the TTP. Some of these landlords have been sitting on empty property for months or years and they are happy to finally have someone contributing to their mortgage. There's still plenty of room to negotiate list prices down.


  10. #10

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    Quote Originally Posted by Crankshaft:
    My monthly expenses for a single person are about 30k, including rent of 17.5k (640 sq.ft in Tin Hau) and excluding taxes. Tax on your salary without any deductions will be 4k per month.

    I live frugally and work well with my money. If you want to go out for (western) food & drinks often then expect to save a lot less.
    I haven’t budgeted for a while but rent and utility bills aside I certainly used to get by on 12K per month and that included a once a week western food treat and I never went short on the beer front. Often it would be less than that. It’s definitely possible and I’d use sensible rather than frugal to describe it.
    Morrison and Crankshaft like this.

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