Cost of living in Hong Kong vs United States

I been offered a job in HK and I started doing my research on cost of living. What I have found is that HK is much more expensive then living in the United States(New York Area) The question is does anyone know how to compare compansation in US to HK. What I mean is if you make $150k US how much would you need to make in HK to be equal. I researched housing and schooling for 2 children and you need to make at least $2m in Hong Kong dollars to live in an expat community.

Please let me know what people are doing, Am I way off. When i do the calculations $2m HK affords you a nice living. Iam sure I am missing unknow expenses that I will find out when I arrive.

Hi Glenn,

I use to live in NYC when I was single, I moved to NJ after I got married and had children. We now live in HK. I can say, it is a bit more costly to live in HK compared to the East Coast. However if you get your relocation package to include the housing and children's schooling then living here is fairly comparable in all other senses. Yes you have to alter some things..i.e American Food products are more costly here as it's imported, eating out in western restaurants are costly but comparable to NYC. There is a way to work out everything it all depends on what type of lifestyle you want and where you want to live in HK. You two major expense will be housing and schooling which will depend on the area you want to live in and how big of a place you want. Schooling will depend on how old your children are but most int'l schools will run you on average $75K a year (give/take) depending on where you send your child. That rate may or may not include levy's.

Only other expense here is HK tax in which you pay up front and taxes back in the states...you also have to pay up front for medical care and then claim again insurance etc. If you get a car then you have that expense but public transport is fantastic here so you really don't need one but then again it will depend on where you decide to live.

Good Luck!!

Mercer Consulting gives HK a cost of living score of 116.30 vs. NY which is the benchmark at 100. This is the latest figure from 2006 research so a bit outdated, but gives a good idea of the difference.