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will i have miserable life in shanghai with this pay?

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Shanghai Expat Forum Index » City Living Forums » Relocation and Moving

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deeroo
Barker
Barker

Joined: Nov 05, 2007
Posts: 175

Posted: Jan 09, 2008 - 04:56 PM

I am going to assume that you're single. Because with a family, then the wonderful $60k can go pretty fast when you have to factor in things like taxes, schools for children and the such.

Some things to think about in addition to the taxes are:

Is your health insurance taken care of?
Do they include trips back home for R/R?
What is your vacation time like?
Any moving expenses?

And like Underh20 said, what type of plan do you have for savings/investments?

On its face, if you're single and are looking for a good time while you're working in Shanghai, $60kUSD + $1kUSD/month will put in you some pretty good living compared with many parts of the US.

I could easily live a great lifestyle here in Shanghai for about 1/3rd of what you'd be making. This place has both the super expensive and super cheap and everything in between. Golfing can be expensive (if you're looking to do that), but if this is your first time here, there is a ton of things that you will find to be inexpensive.

yu888
Board Deity

Joined: Jan 25, 2003
Posts: 18044
Location: ZhongShanParkArea SH

Posted: Jan 09, 2008 - 05:05 PM

based on the way the question was worded i'd say maybe no amount will be enough to make you less miserable. Attitude is everything.

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Oomomo

Talker

Joined: Dec 17, 2007
Posts: 105

Status: Offline

Posted: Jan 09, 2008 - 05:59 PM

lol, I always wonder how those waitress get by with the meagre pay of rmb 1500 or less that they are getting. Nonetheless, they always seem so happy.

Btw, I always remember what my grandma used to say: "it is not how much you make, it is how much you save" - well, robert kiyosaki must have copied that in his book, rich dad, poor dad.

lol

chingiskhan

StreetBeater

Joined: Apr 24, 2007
Posts: 2244
Location: Shanghai
Status: Offline

Posted: Jan 09, 2008 - 06:54 PM

I find most self help type books are like that and people who rely on them are lacking a bit of common sense.

SnappySammy

Board Legend

Joined: Nov 01, 2007
Posts: 10143

Status: Offline

Posted: Jan 09, 2008 - 10:44 PM

I have been everywhere in China.

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leidelaohu

Wonder Wit

Joined: June 11, 2007
Posts: 3781

Status: Offline

Posted: Jan 09, 2008 - 11:10 PM

SnappySammy wrote:

I have been everywhere in China.

Blindfolded ?

yinlin

Rocker

Joined: Feb 26, 2007
Posts: 643

Status: Offline

Posted: Jan 10, 2008 - 02:55 AM

72K USD per annum is bloody good enough if you dont have any liability back at home. Afford yourself to visit bathhouse every weekend for "good time".

rxg

Raver

Joined: Sep 06, 2005
Posts: 457

Status: Offline

Posted: Jan 10, 2008 - 03:18 AM

Money is not everything but it does make like easier. The only time money doesn't make your life easier (or happier) is when you have so much of it that you do not need to work for a living.

Agreed attitude is everything, but when you don't have any money to go out, or do not have a comfortable place to live and have to calculate and recalcualte twice before you book a vacation - then having lots of money does make a person happier.

I don't know about you people - but getting a big bonus at the end of the year makes me happy.

Having enough money to help or buy people presents make me happy.

Unless you are dirt poor and never knew what money could do for you, then money might not make you happy. However, I am 98@ of people on this forum does not belong to this catagory.

62K after tax plus 1K for housing is OK. You might need to add $500 of your salary each month for housing.

Eating local is cheap -- very cheap.
Eating western and live a western life style - 60 K is just enough. No first calss ticket flying back home either if you have to pay for the trip home.

Kiwi

Post Boaster

Joined: May 07, 2003
Posts: 4763

Status: Offline

Posted: Jan 10, 2008 - 04:02 AM

No first class ticket home!

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shanghaiceltic

Board Royalty

Joined: Sep 20, 2005
Posts: 7619
Location: Perth WA
Status: Offline

Posted: Jan 10, 2008 - 07:13 AM

If you only eat at the street stalls and buy cheap beer from Lwasons then you might have enough left to buy the GF a real LV handbag and some bling.....

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Michael

Moderator

Joined: Mar 22, 2002
Posts: 5292

Status: Offline

Posted: Jan 10, 2008 - 03:33 PM

the other OT posts are in the Pit.

kumlong

LoopKicker

Joined: Oct 18, 2007
Posts: 817

Status: Offline

Posted: Jan 10, 2008 - 03:49 PM

ohhhh censorship

woaihuan

Veejay

Joined: Dec 15, 2007
Posts: 1848

Status: Offline

Posted: Jan 10, 2008 - 04:48 PM

kumlong wrote:

cny3000 is more than enough to survive ....

I live happily on it.

Housing included.

Oomomo

Talker

Joined: Dec 17, 2007
Posts: 105

Status: Offline

Posted: Jan 10, 2008 - 05:47 PM

woaihuan wrote:

kumlong wrote:

cny3000 is more than enough to survive ....

I live happily on it.

Housing included.

I will disagree. Shanghai is an expensive city. Maybe u can survive, but u will not have a life. Even the taxi driver who makes about rmb4,000 to 5,000 a month find it hard to live by.
As a reference, I think RMB10,000 (post tax) a month is probably a bare minimum for an expat in Shanghai

woaihuan

Veejay

Joined: Dec 15, 2007
Posts: 1848

Status: Offline

Posted: Jan 10, 2008 - 05:55 PM

I'm here as a student and have no complaints about living a life on 3000rmb.

I still have a girlfriend, I still am getting married, and I still eat well.

I'm from Canada, by the way.

The only time when I don't enjoy it is when I have to go to Hong Kong. When I'm there, it's either eat poorly and not have a hostel room, or have a hostel room and don't eat. In Shanghai... absolutely no complaints about my life.

Soon I'll be bumped up to about 10000rmb per month though... 7000 of which will go into savings each month.

fortune_nookie

Reacher

Joined: Apr 07, 2003
Posts: 295

Status: Offline

Posted: Jan 10, 2008 - 06:28 PM

Woaihuan, I honestly salute you. I think you are a happy person regadless of money and I am glad you have found a girlfriend here.

When I was in Vietnam someone said to me "my God these people are so poor, how do they live they must be miserable." I looked around, I was 110Km from Hanoi at the time in a village full of the happiest people I have ever seen in my life to date. I told the perosn they didn't have any money but they were not unhappy nor miserable.

I admire you for saving the difference in your new found wealth as well. When I was in the military I didn't have a pot to piss in as someone mentioned above, saved every penny and did pretty well. If the OP has half your outlook they will do fine on their 72K USD.

Oomomo

Talker

Joined: Dec 17, 2007
Posts: 105

Status: Offline

Posted: Jan 10, 2008 - 07:02 PM

woaihuan wrote:

Will you be able to give us a breakdown of how the rmb3,000 is being used:

Housing;?
Food:?
Transport:?
Entertainment:?
Girlfriend:?
School fees;?
Tax:?
Clothings:?
etc etc etc etc

I have lived in Shanghai the last 6 years...so please....

hammerforlife
Fire-eater

Joined: May 24, 2004
Posts: 2701

Posted: Jan 10, 2008 - 07:38 PM

Well on the plus side I think its safe to say that his girlfriend is not a golddigger.

underh20
Shanghai Royalty

Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar

Posted: Jan 10, 2008 - 07:50 PM

^ Unless he has a rich daddy. Wink

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Ranter

Joined: May 14, 2003
Posts: 559

Status: Offline

Posted: Jan 10, 2008 - 08:01 PM

Makes sense this way...

Housing; 3000 (this goes beyond the allowance)
Food: 3000 (about 100/day, should work)
Transport: 3000 (gas and service/month average, own car)
Entertainment:? 3000 ....
Girlfriend:? shhhsss..
School fees;?
Tax:?
Clothings:?
etc etc etc etc

answerer

Raver

Joined: Apr 26, 2006
Posts: 453
Location: Shanghai
Status: Offline

Posted: Jan 10, 2008 - 08:06 PM

"With 100k/year am I going to be living a miserable life in NYC?"
With any job paying you 100k a year, you're probably going to have a miserable life. Laughing

Since you're asking such a n00b question, the reality is that you're probably going to be living paycheck to paycheck.

underh20
Shanghai Royalty

Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar

Posted: Jan 11, 2008 - 10:08 AM

3k with a mortgage ... must have a spouse who is also employed.

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Ranter

Joined: May 14, 2003
Posts: 559

Status: Offline

Posted: Jan 11, 2008 - 11:01 AM

Yes. True. Both have a spouse also employed... The whole family income for the other is about 8000 and the other goes to around 16000. Both have a kid.