Posted by
sleert
15 yrs ago
Hi All
I've got an offer of employment in HK but on local terms. Im thinking of accepting the offer but need some advise on the cost of living there. They have offered me 22kHKD monthly. Im planning to move first and bring along my wife and child after i settle down around 6 months after.
The job will be in Kowloon.
Im not a big spender...but i do plan to visit places in HK in the weekends
Any advice?
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F100
15 yrs ago
rent in HK is very very expensive.
check out asiaxpat property section, www.landscope.com, hongkonghomes.com
to get an idea of how much it will cost.
be prepared to put at least 3 months down for rental deposit.
some landlords want 4 months deposit.
also be prepared to pay an agent at least 1/2 months rental deposit for helping you find an apartment.
things such as fresh milk, butter, meat etc..is much more expensive than compared to the US or Canada.
a cup of coffee at Starbucks is easily over $20 HKD.
a decent meal will cost you over $150 HK dollars.
of course you can always eat McDonalds or a bowl of noodles for about $3 USD but realistically most expats wouldn't like to do it for an extended period of time.
it's is very hot in HK so be prepared to pay quite a bit run your air conditioners and dehumidifiers.
in my opinion, after all of your expenses if you are getting just $22,000 with NO housing allowances or benefits, you will be either saving very little or digging a hole for yourself paying
for your rent, food...etc...
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I'll chime in with the rest. 22k is a joke. Of course it is theoretically possible but you'd be living in a tiny apartment in a less than nice building, and paying 12-15k for that.
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i am sorry but without knowing your background, education, job nature and rank, etc, it's very hard to make the above judgment.
can you live on 22k? yes absolutely. how much are you making now? how do you live now? what is your standard? do you plan to send your kid to private school? what is your wife doing?
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Hi
Thanks all for the input.
Wow this is really scaring me.
Im looking for a big apartment..just looking for something around 7k rent
my child is only 7 months old so education is not yet a problem and wife will be staying at home.
The job is an asst mgr level in the finance industry. Its actually an internal transfer within the organisation but across borders.
As for the salary offer, its actually much more from what i currently earn now..so i cant really ask for higher...plus the employment terms is on local terms not on expat terms.
However, they will be providing me relocations allowance and the flight cost to come over...after that im all on my own.
sigh~ its gonna be a bigger headache than i thought it would be
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"Of course it is theoretically possible but you'd be living in a tiny apartment in a less than nice building, and paying 12-15k for that."
C'mon, you can get a nice apartment for 15 k in Lohas Park, Tung Chung etc. but the real problem is that you can't pay 12-15 k a month for and apartment from 22 k salary.
Some of us have started in HK with such low pay but then again, as young and single....
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Sleert, this is not going to be easy for you. If your company thinks that you are working on local terms and this is what local manager's are getting, then they will need to re-evaluate what are 'local terms'.
Most probably a local person on this salary would/could be living in Gov't housing. You are not and never will be able to. So, while a local could live (comfortably) on 22k, a person coming in and having to pay rent and live, your 22k will make life a little hard for you.
Perhaps look at this site (this question has been asked x,000's of times) and read about costs of living. Look at rent on various real estate sites for an apartment at least 1000-1500sq ft, it needs to be close to your employment and then add all this up and show your employer in black and white that while you are happy to receive 22k, they will need to pay housing.
Many employers find it hard to understand why they must pay you more than a local, but they forget about the gov't support that most/many locals receive.
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Thanks Bob for the insight.
Makes good sense!
Can you provide the link as i cant see it in your post.
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Sleert, "this site" = Asiaxpat site i.e. the one you are looking at now. Search for 'cost of living' and see what shows
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another factor that you could argue in your favor for an increase is that a local person would very likely have family help to look after the child, while the spouse also holds down a full time job...this is very common, and a benefit you would not (likely) have access too...all in all i would agree with the general sentiment here, that it is a VERY low salary offer for someone in your situation.
I've PM'd you a contact re: housing
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"The job is an asst mgr level in the finance industry. Its actually an internal transfer within the organisation but across borders."
Could you be more specific about which part of the finance industry? If you're talking investment banking that is very very low. Way below entry level in fact.
"C'mon, you can get a nice apartment for 15 k in Lohas Park, Tung Chung etc. but the real problem is that you can't pay 12-15 k a month for and apartment from 22 k salary."
That was sort of my point. Thx for clarifying and sorry I was unclear.
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It is interesting about income assessment and public housing. In my limited understanding this is just a toothless tiger rule. It seems that once you have housing by the gov't you never have to leave. You are never assessed. You could be earning 60k+ and still live in gov't housing (if you choose to continue).
I think this is why you see the 7 series BMW and big Benz's in the car parks. Great income but happy to live in 400 sq ft.
Sleert could do it, but wow, he/she better have the best family budget ever seen.
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actually bob, there are regulations regarding those who exceed the limits for receiving assistance. after living in pub housing for 10 yrs, they must submit income proof every other year, and must vacate their flat if they exceed the limit...it's all here (but again. as you say, Is it enforced?)
http://www.housingauthority.gov.hk/en/aboutus/policy/publichousing/0,3301,3-0-2615-16,00.html
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You don't say where you are coming from? A local family can survive on that yes but not an expat family. If you are coming as locals from Malaysia or Indonesia then yes perhaps as i'm sure you will be used to shopping at cheap markets and don't need to spend money on things like expats would like, i.e socialising, dinners, drinks, playdates, coffee meet ups, western food groceries, etc. If you are coming from the western world then no. Your wife won't be working so she will need to find things to do to occupy her time (gym, yoga, whatever) and friends as well. She will also probably want to spend some time in the more "westernised" parts of HK like central, soho, etc and this all costs money. I started on 20k when i was younger and as a single person with no rent to pay it was great. But not for a family.
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