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HK expat compensation package

ORIGINAL POST
Posted by plutobrown 14 yrs ago
My current employer has asked me to relocate from London to Hong Kong. I work in banking on £100k p.a. salary. My employer has suggested a 10% increase for the new posting plus reasonable moving costs. I would appreciate any comments on what is normal for a HK expat posting.


Should I be asking my employer to pay for all or part of the housing cost in addition?


Is 10% enough to account for the 'hardship premium' that HK may carry over London?


I am single so no family to relocate.





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COMMENTS
cookie09 14 yrs ago
lol hardship premium?? you should accept a reduced package to be able to live in hong kong...


hk has 16% tax (maximum), your likely tax rate is probably around 13-14%. housing is very expensive, though london is too. i would ask for housing though (30k - 80k/month)

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sistim 14 yrs ago
Cookie's right, you'll be laughing all the way to the bank... lucky devil!

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dasia 14 yrs ago
Remember to ask for at least one return trip back 'home' per annum travelling Business Class (a long trip is more comfortable in Business or Premium Class). Also write into the contract that your company will pay for repatriation costs at the end of your time in HK including the 'reasonable' cost of any personal effects you may accumlate during your time here.


Quite a few people forget the repatriation clause and get caught when they are ready to return home.

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aussiexpat 14 yrs ago
Also take into account the cost of school fees if you have children. Monthly fees are very expensive compared to UK.

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purefit 14 yrs ago
How old are you plutobrown? You can add on if you have more experience depending on your position, yrs etc

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