Frankly, I was a bit shocked when I heard the salary they offer. 200k annually which works out to be only 16.6k per month pretax. It's a graduate position and I assume most of the candidates they hire are non-locals which means a large trunck of monthly income will go to rents. I am not sure if I can survive for this kinda money in HK. Even if I do, most likely I will be on a subsistence level living standard?
Am I right in expecting this? Please advice...
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19-12-2009, 11:53 PM #1
$200k annual salary, worthy of moving to HK?
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19-12-2009, 11:58 PM #2
Well the average salary in HK is $10,000. I am sure you can survive in HK, but don't expect you will be eating lobster every night.
It depends if you feel you want to move to HK or not, what your current opportunities in your home town are like, etc etc. But $16.6k per month is definitely manageable.
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19-12-2009, 11:58 PM #3
The company is also participating in some kinda housing reimbursement scheme so I guess I could get back about 1k per month to pay for my rents?
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20-12-2009, 12:02 AM #4
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20-12-2009, 12:05 AM #5
well as you can see in this thread, many people spend more than 30% on their housing: http://www.geoexpat.com/forum/thread15564.html
If you are getting living allowance then you will be ok. Depending on where you are working, you can get apartments from $4000+. Keep in mind, it will be small.
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20-12-2009, 12:11 AM #6
To be honest, less than 17k per month in Hong Kong is a horrible expat salary.
Budget on $9000 per month for rent on the Kowloon side/NT. Budget on $3500 for groceries and transport combined. TV/internet/phone will take another $1000 or so. *You will need start-up funds when you arrive, 2.5 months of rental costs for security, realtor fees, etc.
That leaves you with less than $4000 per month for entertainment, personal care, misc. expenses.
If you're desperate to come, then go for it. Otherwise...
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20-12-2009, 12:50 AM #7
Do you need a visa? I'm not sure ImmD are all that keen on giving visas to new grads in sub-2oK jobs...
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20-12-2009, 12:50 AM #8
For an expat $200k a year is a pretty tough amount of cash to live on. Yes, the locals can live on $10k per month but the often live at home.
Living in a foreign country automatically adds to your cost of living. Things you consider essentials in the west are more expensive because they are uncommon or have to be imported so you will spend a lot on groceries, clothing etc.
If you get your rent paid however $200k per annum is easily enough. You won't be living the high life but you'll be able to not only live, but enjoy living here.
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20-12-2009, 01:28 AM #9
The office is in Central. I am thinking to rent a studio anywhere along the metro line on the island side or Kowloon... small size is not an issue as I am on my own.
I am not sure how the housing reimbursement scheme works. The HR told me I can get some tax money back because the company participates in this scheme. 1k is only my estimate... might be less or more than this in reality....
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20-12-2009, 01:35 AM #10
Quote
Originally Posted by BryanL:
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