50,000 HK Enough?



ORIGINAL POST
Posted by wrldtrvlr123 16 yrs ago
Hello:


I am considering a teaching position that would pay approx. 50000 HK per month (before taxes and including the housing allowance).


Will that be enough to live decently? We would probably be living in or near Kowloon. My wife will be looking for a teaching position and/or substituting once we arrive.


Any input would be greatly appreciated.


Thanks

D

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COMMENTS
smallbert 16 yrs ago
That's a good rate.

Check out the exchange rate.

Tax is low, about 16%.

Does it have a gratuity? Often they do which covers tax.

That's a very decent wage.

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wrldtrvlr123 15 yrs ago
Thanks. That's encouraging. I was hoping that my salary would cover a reasonable lifestyle (with maybe a little leftover). Then, whatever my wife was able to bring in could be potential savings.


Just to throw in another twist for anyone familiar with Beijing. I have a potential offer for a position in Beijing. Am I better off financially getting 30,000 rmb a month in Beijing or 50,000 hk in Hong Kong?


I would also appreciate any input on living in HK vs. Beijing.


Thanks,

D

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casuals 15 yrs ago
50Gs is AMAZING!!!

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ste94072 15 yrs ago
@ wrldtrvlr123: a bird in hand is much better than 2 birds in the air.

in terms of number, 30K RMB is less of 50K HKD.

there might be some pro-cons about living in Beijing and HK:


- living cost: Beijing may be lower.

- housing: Beijing by average might have larger space, newer buildings

- environment: how about the Beijing pollution level nowadays?

- education: Beijing is also good, but HK already considered international city where u can get good English-based education as well.

no doubt about mainland education. according to my friend, most of Chinese student in HKUST are from mainland. not from HK.

- freedom: "everything is under control". don't forget about china's internet policy. as we are now seems having "internet" as part of our daily life, u might need to consider this very well too :)


after all, as "casuals" mentioned, 50K HKD is an amazing offer, but it all back to our lifestyle.

u can still have a decent lifestyle spending half of that :)

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cookie09 15 yrs ago
"according to my friend, most of Chinese student in HKUST are from mainland. not from HK. "


that's certainly wrong and the HK government would be in real trouble with their subsidies if that were true ;-)

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squeaktoo 15 yrs ago
At the risk of getting quartered by everyone here I was about to say that I didn't think $50000 would be enough for two. But given he's said his wife will get a job, and assuming she does, then yes that's better.


Don't get me wrong, $50000 shouldn't be scoffed at. But it all depends on what you expect your lifestyle to be; a lot of expats live extremely well here. If you want to hang out in Soho, drink and eat at the top restaurants every weekend as many foreigners do, then I think $50000 isn't enough after housing and tax (low though it may be). Not to mention the odd shopping spree and weekend getaways that everyone seems to do.


If you have simpler needs, then you will definitely be fine, and might be able to save a bit, especially with the additional income your wife brings in.

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evildeeds 15 yrs ago
"as many foreigners do


I think supplement many with minority and it'd be more like it. Back in the early days of business when I got to earning 50K I was happy as sin. With wife and kids I'd still save almost half of that. It's all dependent on lifestyle. Not that hard to save half of it, not that hard to blow it all! It's also got nothing to do with simpler needs - different lifestyles certainly and sometimes being outside the little bubble can help.

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lace 15 yrs ago
The OP mentioned that housing is included in the $50K!

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