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#1
23-09-2006, 09:09 AM
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| Help! Hi Guys I need some help! I have just been made a job offer in HK for around HK$68, 000 per month, bonus, holiday passage allowance etc. I have 2 young kids, 2 and 4 and a wife who is not working at the moment. Is this enough to live on? I don't think so. Any thoughts?  |
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#2
23-09-2006, 09:16 AM
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| Yes, it is possible to do ok on that sort of amount. Do keep in mind that the 4 year old will have to go to Kindergarden and that will run you around $5000 / month. I'm assuming insurance is taken care of by the co? |
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#3
23-09-2006, 10:49 AM
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| Thanks for your prompt reply. I believe so. They say they reinburse for general medical and dental up to $HK10, 000 per person per year plus hospital cover under company's insurance scheme. This would seem to cover it I think. I suppose my concern is will this amount all for a good standard of living, which is subjective, i know. |
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#4
23-09-2006, 09:04 PM
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| Are you kidding? That's a USD 6 figure salary. Figure you're at least somewhat bonus eligible and that puts you at the 120,000 range. |
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#5
23-09-2006, 09:13 PM
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| The average household income in Hong Kong is less than HK$20,000 per month. Of course it's enough to live on! Could you drink vintage champagne every night? Of course not. And if you put your kid in a chinese-speaking school then it is essentially free. Of all the things that your kids could get from being in HK, growing up bilingual must be pretty close to the top of the list. |
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#7
23-09-2006, 10:12 PM
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| if you are paying yoru own housing and schooling, i'd say, forget it! schooling will set you back minimum $5000/child/month. for a family of 4, i'd say a minimum housing cost of $20,000-$25,000... this leaves you enough to survive, but you'll not have much left over at the end of the month...especially if wife is not working outside the home. the median income in HK is $20,000...but this does NOT take into consideration the vast number of locals that are eligible for gov't housing (either purchased or rented)...there is NO WAY an expat would be eligible for this (ther are some PR Indians that are eligible and do live in gov't housing). however, i'm guessing that coming from overseas, you do not want to live in a flat that is around 300'? yes, local schools are near to free...but your child may be traumatized... first with the relocation to a new place, a new home, and then to throw them into school where they have no idea of what the teacher is saying and without being able to talk to other children... this may make the transition even harder. i know that kids adapt fairly quickly, but this is a generality and not every child is able to cope with so many changes all at once. now...my hubby and i pay around $21,000/month in rent. we have a 19 month old son and a baby on the way. we earn a total of around $40,000-45,000/month. we have NO intention of sticking around once our son is school age... we just CAN'T afford it. i have tutored in HK for 11 years and know well what the local system is like. my hubby went through the local system and DOES NOT want to subject our son to that style of "learning"... like i said, it is possible to live on $68,000/month for a family of four, but you'll not have much left over... good luck! (ps if you can get schooling costs thrown in, i'd say, go for it!) |
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#9
23-09-2006, 10:39 PM
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| The fact that HK schools come very near the top of many international competitions/leagues seems counter to what people are saying here... Sure the language is an issue, but if you are gong to be be bilingual it is hugely easier to start when you are 4 years old than when you are 40. Kids learn incredibly fast. One of the best attributes a person can have in the modern world is multilingualism - I say chuck 'em in the local system. |
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#10
24-09-2006, 06:15 AM
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| Quote:
Wherever you come from, you know HK$68000 / mth is good money, even in London or NYC. |
