Expert Info
on 8 Aug 2012
Hi All, I am in talks with a prospective employer in HK and most probably I will get an offer around HKD 40,000 Per month. Though it is not clear at this point of time what other benefits my employer will provide me(like health care benefits etc). I am thinking of negotiating further to see if I can push it to 50K or 55K Per month. Do you see any scope for further negotiating on salary/benefits with my prospective employer beyond 40K per month. I am IT professional with over 8 years of experience and most probably would be working on financial services/investment banking related software development. I have to relocate from India with my wife and 6 month old kid. So I did some research on HK's cost of living and estimated my monthly expenses at around 26000 (including house rent and excluding insurance costs (healthcare and others)). I provisioned around 16000 as rent as I was looking for a 650-800 SqFt furnished flat. Does my estimates look reasonable? or am I over-estimating/under-estimating? Any information here is highly appreciated. Regards Srikanth
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I think your budget estimates look reasonable but ultimatley you need to remember that the cost of living is Hong Kong is not cheap. The rental cost will depend on how much space you require and in which area you want to be based. Young expat famillies tend to live in the South of Hong Kong, in the Mid-levels or Repulse Bay - so I would recommend looking at your options in those areas.Your child is still very young, so being close to an international school won't be a priority as yet but you may want to give the idea some thought if you plan on staying in Hong Kong long-term. I recommend having a look at our Accomodation in Hong Kong page to weigh up your housing options.
With regards to other costs, those will depend on the type of contract you manager to negotiate with your employer as well as the type of lifestyle you choose to lead which will have knock-on effects onto how much you save. Take a look at our Cost of Living in Hong Kong page for an overview.
Good luck.