[Braddockrd]

Can anybody share their cost of living adjustment in their salary as part of moving to HK from a US major city?

Thanks a lot

[tx75070]

Depends where from the US you are moving from. Also, if you have kids and what age?

[Sleuth]

Also depends on who is paying for the housing. My COLA isn't that large, but I am not paying for housing.

[Braddockrd]

I am married, but no kids. I am moving from outside of Boston and I am suppossed to pay for the housing. What do you think would be reasonable?

Thanks to both

[penguinsix]

1) Housing. I don't know, $3,000 a month US.

2) Insurance. Your health insurance premiums will likely increase to get the same level of coverage you currently have in the US. PPO, HMO, etc are not exactly as widespread as the US, etc. So consider an adjustment for that.

3) Travel. You are at a duty station outside your home. It's not unheard of to ask for a couple tickets home per year (unless travel will bring y ou back).

4) Education. Maybe you'll have a kid here one day. Consider your long term plans (could it become permanent)?

[KnowItAll]

>> (unless travel will bring y ou back)

Don't count on it. Do ask for airfare back to your home town.

Also make sure that your company handles the US tax prep and other items you might have to pay for because of your move. I'd recommend consulting with a tax lawyer / accountant before the move... on company expense.

Cant think of anything else ....

[z754103]

I saw a 2004 Mercers survey where out of approx 140 cities worldwide, HK was ranked either 3rd or 5th, a couple of notches above NY. Boston was ranked 70th. Housing and cost of car ownership are 2 huge differences.

I'm not sure how big your office in HK is, but for smaller local offices, the healthcare packages can offer less good coverage than their US equivalents.

[Sleuth]

I looked at a lot of those city comparisons, and HK was double to triple Atlanta. But most of that is housing. The cost of the car is a cost I am thankfuly doing without. Can't wait to spend a few years not driving. HK seemed to be roughly equivalent to NYC/LA.
All of this depends on your lifestyle. You can spend as much as you want or as little as you want on food, entertainment, housing, cars, shopping, etc...
For what it is worth, and they told me this is not a percentage of income figure, my company and their consultants figured that it costs an extra $20,000 to live in HK as opposed to Atlanta. No idea how they came to that figure.
Remember that the average person in HK survives and doesn't make that much. Not that I recommend totally adopting the local lifestyle, but there is a big range between average HK and rich expat.

[Sleuth]

Sorry, that was USD, not HKD, $20,000. Pre-tax, too, I believe.

[Coolhand]

My company appliues a foreign living allowance to whole after tax salary to cover cost of living increase. For someone from the US taking up assignment in HK it works out at 37.5%. For someone from the UK its zilch