Posted by
janice555
19 yrs ago
I have been recently offered a position in HK at HK$330,000 per annum plus settling allowance of HK$15,000. Would this package be sufficient for a single bearing in mind the higher living cost in HK (especially housing cost).
BTW I'm in the accounting line and my potential emplyer is in central.
Thanks
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erba9
19 yrs ago
I'm assuming the settling allowance is a one-time thing. If that's the case, H$330K is on the low side. That's HK$27K a month before taxes. Rent and utilities alone can reach $10-15k (this could go much higher depending where you live).
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JAR1
19 yrs ago
Yes I agree too low. It would be ok if you can get a housing allowance no top of this. But you could spend up to 15k on rent (in a small apartment in central), 4k on tax - doesn't leave you much to live on, never mind saving anything.
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MayC
19 yrs ago
I think it all depends on your qualification and your experience. That's VERY good if you are a qualified accountant with 3-5 years experience up your sleeves. Obviously if you have 10+ years experience and expected to lead the accounts for the whole of South East Asia for a big company, then it's a different story.
I'm in the accounting field too (and a qualified Chartered Accountant from Sydney) but NOT on an expat package so I'm probably seeing it from a "local" point of view (I'm not local though, just here because of my husband).
Rent's cheaper if you are not intending to live in the Central Business District.
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again, this answer depends on where you live and your lifestyle. It certainly is sufficient if you rent a place out is Western where you can get a 500FT apartment for <$8,000. If you rent a place in central and go drinking 4 nights a weekn in LKF, you will need at least $40K plus a month to save anything.
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with the job market now days, expats are lucky to be getting offerred positions in HKG.. with competition from mainland and language barrier, I think thats a decent package.. if you are getting allowance a month thats good too.
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