[Credit Boy]

I am looking at an offer from an International IB in HK. When I convert the HKD into USD, I find it is on par with the NYC pay scale for the level. They pay for relocation. However, I don't like that they only pay standard banking benefits. Housing allowance is not in the formula at the moment. What do you guys think?

[esquire1113]

Hi Credit Boy,

It's neither good or bad, but depends on your lifestyle preference.

A U.S. salary in HK goes a long long way, considering that HK citizens make way less. Therefore, you would be in the top percentile of income earners in HK and could afford to do a lot more (i.e., shopping, travelling, dining, partying).

The downside is housing. The housing market has increased by 30% or more last year, so good apartments will cost you a hefty penny. I'm looking at 2 bedroom apartments 20 minutes away from Central, and they will cost around $3800 US per month. Now, thats for a nicer apartment. If you choose to, you can always stay at smaller apartments that will run you only $1000 per month.

[applefan]

I'm not sure comparing your US salary to the average HK citizen really gives you a good gauge if you're a US citizen. US citizens are subject to global taxation and as I'm sure you are aware, almost half your paycheck can be gone. So your net pay might just be about what HK people make. But if you're not a US citizen, then your pay will probably much farther than it does in NYC.

As equire1113 said, housing is the biggest expense, just like in NYC. I too am looking for a 2-bedroom and the price range is similar to the one mentioned.

[greentea]

Try to look at accommodation in Olympics or Tsing Yi. It would be cheaper and it takes you not more than 20 mins to travel to Central.

[Credit Boy]

Thank you, guys.

Do they usually pay expat package now? BTW, I am worried that the bonus will not be as robust as in NYC.