COST OF LIVING - IS MY SALARY OK?



ORIGINAL POST
Posted by RM121 9 yrs ago
I am close to securing a job offer in Hong Kong on the following package.

HKD 360,000 PER YEAR SALARY
HKD 120,000 - PER YEAR HOUSING ALLOWANCE

This is my guaranteed earnings. I can reasonably expect to make in the absolute worst case scenario an additional HKD 259,000 annually in bonuses or in an exceptional year as high as HKD 1,200,000. However, for the purposes of making sure I will be ok let's just base feedback on my guaranteed remuneration which as stated above is HKD 360,000 per year salary and HKD 120,000 per year housing allowance.

I'm a single UK Citizen and will be working near Des Voeux Road Central. Is this a nice area to live and work in?

I don't mind sharing an apartment - are there any websites I can look at similar to spareroom in the UK for finding people looking to rent out a room or share an apartment? What is a reasonable price to pay for a room in an apartment?

Any advice would be greatly appreciated as I really have no idea if this job offer is a good remuneration package or a very poor one... the bonus potential is huge but I don't want to rely on that.

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COMMENTS
Ed 9 yrs ago
As a single person you should be able to get by on 30k - housing is the killer so I agree that sharing makes sense....

http://hongkong.asiaxpat.com/property/share-flats/

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arrigoa 9 yrs ago
It depends on your age and lifestyle expectations, your 360K is gross so deduct around 15% for tax, noting that in your first year you will also be libel for Provisional Tax. After housing and general living requirements you may find your monthly salary of HKD$ 30,000 less rent etc may not leave you with much. Your bonuses however, (again subject to tax) will no doubt be your lifeline in terms of actual earnings. Re your location Des Voeux Road Central, yes its a great location!

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