Forum FAQ

Preferences

Watched Topics

Watched Forums

what would you do: new job offer

Tags : property, business, travel, technology, nightlife, events, food, food, expat_services

Shanghai Expat Forum Index » City Living Forums » Questions and Answers

Author

Message

kumlong

PopStar

Joined: Oct 18, 2007
Posts: 999
Location: puxi
Status: Offline

Posted: Oct 18, 2007 - 11:09 AM
Post subject: what would you do: new job offer

I am currently working in Shanghai financial sector and take home CNY67000 (after tax and rental) a month. I have a 13 months calendar year and yearly performance bonus is around CNY100,000 to CNY150,000. I work from 8.30am to 6pm and the work does not require too much thinking.

Now I have been offered a job in Hong Kong and the take home salary is HKD120,000 a month (12 month calendar) but I would be paying my own tax and rental. Performance bonus could be between HKD50,000 to HKD500,000 depending on your revenue. The new job is slightly different and would require me to sell. I would need to do more entertaining and have a wider set of contacts.

If I remain in Shanghai I am quite sure that my job is about set for life while there is no certainty should I move to Hong Kong. However the Hong Kong offer is very tempting as its almost twice what I am earning now. What would you do if you were me. I am in my mid 30s.

Karu

Raver

Joined: June 27, 2005
Posts: 473

Status: Offline

Posted: Oct 18, 2007 - 11:24 AM

me_myself_&_i

Reacher

Joined: Oct 15, 2007
Posts: 244

Status: Offline

Posted: Oct 18, 2007 - 11:27 AM

i am sure with a post like that you will find a lot of shanghainese girls helping you make up your mind

good luck

chingiskhan

Wonder Wit

Joined: Apr 24, 2007
Posts: 3684
Location: Shanghai
Status: Offline

Posted: Oct 18, 2007 - 11:30 AM

Surely you are comfortable with the existing salary living a great life in Shanghai - why risk it for more money which you won't be able to spend? It's down to personal choice but for me Shanghai is a much better place to live on 67,000 RMB compared to HK on twice that. Just for example, I spend less now for an apartment 3 times larger than my old one in HK which was 9 years ago. And while HK is a great modern city, Shanghai is catching up fast.

kumlong

PopStar

Joined: Oct 18, 2007
Posts: 999
Location: puxi
Status: Offline

Posted: Oct 18, 2007 - 11:30 AM

But Macau is just next door to Hong Kong .. get what I mean?

jackyliuwei

Lurker

Joined: May 23, 2007
Posts: 38

Status: Offline

Posted: Oct 18, 2007 - 11:33 AM

go to hongkong and i will take care of your JOB

chingiskhan

Wonder Wit

Joined: Apr 24, 2007
Posts: 3684
Location: Shanghai
Status: Offline

Posted: Oct 18, 2007 - 11:38 AM

kumlong wrote:

But Macau is just next door to Hong Kong .. get what I mean?

An oversight on my part. Yes, assuming you are male, go to HK, forget Shanghai, what was I thinking!

januza

Rocker

Joined: Jan 24, 2007
Posts: 672

Status: Offline

Posted: Oct 18, 2007 - 11:40 AM

in Hong Kong you will pay less in tax however day to day expenses are much higher than in Shanghai. What are your living requirements ? Do you need to live in midlevel, Happy Vally or the Peak? Apartments vary from HKD 15.000 per month for 600sqf to 40-70.000 for 1200-3000 sqf. Do you have kids? International schools in HKG are only 50% of Shanghai International schools are. But seriously with that kinda money you can live a VERY VERY nice lifestyle even in Hong Kong

kumlong

PopStar

Joined: Oct 18, 2007
Posts: 999
Location: puxi
Status: Offline

Posted: Oct 18, 2007 - 11:47 AM

Thanks for the reply. I am single and am not choosy about living conditions. Given that I am not the sort to pay much for rental, I am thinking of spending at most HKD7-8000 on rental each month and I know I can get this in places like North Point. Lifestyle is one thing but its just the feeling of being stucked in Shanghai. Here, people do feel that earning CNY60 000 a month is astronomical but it really is nothing. To make matter worse, some locals here feel that they are kings when in reality you know things are much more different overseas.

januza

Rocker

Joined: Jan 24, 2007
Posts: 672

Status: Offline

Posted: Oct 18, 2007 - 11:55 AM

IF you can live in North Point in an older apartment then Id say go for it. You will have 100.000 in tax allowance per year with that decucted you will have to pay about HKD 217.300 per year in tax & have 1.340.000 to spend on apartment and Gin Tonics. If you get your company to pay the apartment for you and just pay you less in salary it can be deducted from you tax so you will pay even less.
question is do you have the same job security with this new job that you have with the old one.

kumlong

PopStar

Joined: Oct 18, 2007
Posts: 999
Location: puxi
Status: Offline

Posted: Oct 18, 2007 - 11:58 AM

That is my dilemma Januza. To be honest the money is one thing but I am quite fed up with the bad service in Shanghai as compared to Hong Kong. For example, I could never understand why it takes 1 hour for a simple banking transaction here. As I told my friends, I wished they have a Andy Lau here.

Juan_Tamad

Board Royalty

Joined: Jan 29, 2007
Posts: 7342
Location: Smoky Mountain
Status: Offline

Posted: Oct 18, 2007 - 12:01 PM

Where can I send my CV once you leave your post?

chingiskhan

Wonder Wit

Joined: Apr 24, 2007
Posts: 3684
Location: Shanghai
Status: Offline

Posted: Oct 18, 2007 - 12:03 PM

It's because the banking systems and procedures are out dated and complex bu these will improve with time and you don't spend all your spare time at the bank every day. Sure there are frustrations but there are lots of pluses too. But it's not for everyone and if it bugs you then maybe you should leave. Personally I have lived in both places each for 3 years but love it here and enjoy short visits to HK to get the things I can't get here.

CaptainCook

Rocker

Joined: Mar 20, 2007
Posts: 685

Status: Offline

Posted: Oct 18, 2007 - 12:04 PM
Post subject: Re: what would you do: new job offer

kumlong wrote:

However the Hong Kong offer is very tempting as its almost twice what I am earning now.....

If ^this is THE factor for you, you've better do you sums again. 13months @67000rmb post taxes and post rental is much more than half of 120,000hk pre-taxes and pre rental..... did you say that you're in the financial sector....hmmmm ....which company are you working for, we better look closely at our investment Laughing

If you're a Chinese national or if you feel that you're stucked in Shanghai, then go to HK as it will helps to open your horizon....regardless of the $$.

Good luck

januza

Rocker

Joined: Jan 24, 2007
Posts: 672

Status: Offline

Posted: Oct 18, 2007 - 12:09 PM

kumlong, i totally understand. I have relocated myself and family from Hong Kong to Shanghai. I have to say that I am liking Shanghai more and more everyday. Hong Kong is super nice and very convinient but its really just a question about time before Shanghai will take over.

Now I dont know what line of business you are in but I see many companies moving their HQs from HKG to SHA.

januza

Rocker

Joined: Jan 24, 2007
Posts: 672

Status: Offline

Posted: Oct 18, 2007 - 12:10 PM

Just noticed that you are in the financial sector. Im thinking that will stay in HKG for the next many years!

kumlong

PopStar

Joined: Oct 18, 2007
Posts: 999
Location: puxi
Status: Offline

Posted: Oct 18, 2007 - 12:49 PM

Hi yes that is a bit of miscalculation on my part. I was comparing CNY67000 against taking home HKD120 000 which to me means another 60k. Naturally I would have to pay taxes in Hong Kong and nett of everything Hong Kong's offer is a good HKD40000 more. This is the point I am getting at. Essentially, how much more would you ask for to make a switch from Shanghai to Hong Kong?

In terms of residence, I have a permanent HK ID and can easily move between all cities. So citizenship is not an issue to me.

andyfff

Rocker

Joined: July 03, 2005
Posts: 721

Status: Offline

Posted: Oct 18, 2007 - 12:59 PM

It seems like you are making this decision the wrong way. If you take money out of the equation, which place do you like more? There is not much point in having a high salary if you do not like the place you live. Personally i would rather make less and live in a city I like. And what about friends/family? Do you have them here and in HK? I am not saying the salary is unimportant, but you should decide which city you like more and go from there.

kumlong

PopStar

Joined: Oct 18, 2007
Posts: 999
Location: puxi
Status: Offline

Posted: Oct 18, 2007 - 01:05 PM

I am a foreigner in both places and personally I have a policy of trying to earn as much as I can and using the money to perhaps do something I really like. So to me both Hong Kong and Shanghai have its good and bad. To be honest I love Shanghai but its just the silly little arrogance the locals have that puts me off. But then this is compensated by the fact that certain things are cheap here and definitely life is easier here.

CaptainCook

Rocker

Joined: Mar 20, 2007
Posts: 685

Status: Offline

Posted: Oct 18, 2007 - 01:46 PM

kumlong, if ^^this is the case then it is a no brainer to me.... SH pisses you off and you have nothing bad to say about HK. HK pays more which is what you've said that it is your policy. Job security is over-rated in your circumstances. If you have the experience and you're good enough, you can alway get a job where ever you are.

Batavia

Rocker

Joined: Sep 15, 2006
Posts: 704

Status: Offline

Posted: Oct 18, 2007 - 01:47 PM

Go for Hong Kong. Use a litlle of your savings to fly here and there during the holidays.

Catherine3823

Lurker

Joined: July 29, 2009
Posts: 26

Status: Offline

Posted: July 29, 2009 - 11:27 AM

Think about what you really want before make a final decision.

If you don't have a high requirement of live and pursue no fresh, exciting things, it's better to work in Shanghai. Besides thirties is still young for a man. You'll find another opportunity with high salary in Shanghai.

crivens200

PopStar

Joined: Nov 05, 2007
Posts: 1146

Status: Offline

Posted: July 29, 2009 - 11:52 AM

Catherine3823 wrote:

Cool, Kumlong re-registered as Catherine3823 just so he could resurrect this thread to demonstrate that he's not really a tight arsed gyppo who drinks 2rmb cans of Reeb from Kedi.

Rolling Eyes

LondonBoy

Talker

Joined: Dec 04, 2008
Posts: 106

Status: Offline

Posted: July 29, 2009 - 11:56 AM

Catherine3823 wrote:

Catherine this post is almost 2 years old. Do you think the OP is still considering whether to take the job offer, or do you think perhaps the decision has been already made?