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Salary Opinions $50k per/month QS

Salary Opinions $50k per/month QS

Old Aug 25th 2012, 7:13 pm
  #1  
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Default Salary Opinions $50k per/month QS

Dear Forum

I'm new to this forum and look forward to contributing in the near future. However i've got a question on Salary which i'd like your input on.

I'm a chartered MRICS (3yrs) post qualified Quantity Surveyor who has recently received an offer from a major contractor in HK. The offer is HKD$50,000 per month plus annual bonus and one months salary for relocation. This salary is inclusive of all allowances.

I am 26 years old (kind of irrelevant but thought i'd say) and would be moving out as a single guy with no family or girlfriend. Can you please give me your opinions on whether this seems a reasonable offer?

Thanks for taking the time to read this and appreciate your responses.

Cheers
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Old Aug 26th 2012, 2:04 am
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Default Re: Salary Opinions $50k per/month QS

It really depends what kind of lifestyle you want, how important saving some money is, whether you like travel....etc. 50k is not a bad salary by local standards. Many jobs now offered to non-locals are offered on the same basis as they would be to locals, i.e., no separate housing allowance or other benefits except annual bonuses/13th month salary for Chinese New Year.

A small flat in the city, rather than the New Territories will cost you anything up to 18-20k depending on area, electricity/gas/water less than 1k, salaries tax will be around 5-6k a month, food, local travel, eating out another 6-8k (but could be 2x that if you socialize a lot) - so very difficult to generalize. Some can live frugally and happily on 25k a month, others needs 3x that.
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Old Aug 26th 2012, 11:29 pm
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Default Re: Salary Opinions $50k per/month QS

Originally Posted by PeteinHongKong View Post
It really depends what kind of lifestyle you want, how important saving some money is, whether you like travel....etc. 50k is not a bad salary by local standards. Many jobs now offered to non-locals are offered on the same basis as they would be to locals, i.e., no separate housing allowance or other benefits except annual bonuses/13th month salary for Chinese New Year.

A small flat in the city, rather than the New Territories will cost you anything up to 18-20k depending on area, electricity/gas/water less than 1k, salaries tax will be around 5-6k a month, food, local travel, eating out another 6-8k (but could be 2x that if you socialize a lot) - so very difficult to generalize. Some can live frugally and happily on 25k a month, others needs 3x that.
Thanks for your comments Pete, good info and useful. Cheers for taking the time to write a response.
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Old Aug 27th 2012, 8:55 am
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Default Re: Salary Opinions $50k per/month QS

scot - it is definitely enough unless you have extravagant tastes or you are unwilling to alter your lifestyle slightly, if you are willing to adapt a bit then you will have much room for savings.
There are lots of foreigners in HK earning less than that, the 4 foreigners in my department for example are earning 20k pm, I've had CVs from foreigners asking for as little as 16k.
One of my friends in HK used to live in Sheung Wan for $14k pm, 2 bedroom, nicely renovated and modern but it was a walk up, 3-4 floors if I remember.
The thing about HK is, is that there is a huge gap in wealth here, you will get 1 person who couldn't get by on 100k pm, and another who does just that on $15k pm without complaints.
An irish friend of mine earns $14k pm and supports his wife with that too, he does complain mind Another friend of mine earning $150+k and boy does he moan about the cost of living ! most of us live on something in-between that
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Old Aug 27th 2012, 8:55 am
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Default Re: Salary Opinions $50k per/month QS

One thing you must factor in is the job.
Is it a step up the ladder.
Do you see yourself adding this to your CV and it being a major opportunity.
If it is doing the same as you do in UK then ...
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