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Cost of Living, etc

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

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connexon

Squeeker

Joined: June 10, 2006
Posts: 15
Location: Shanghai, China
Status: Offline

Posted: June 10, 2006 - 07:13 PM
Post subject: Cost of Living, etc

I find this blog really informative. I am currently working as a Science teacher in an international school in Dongguan, Guangdong, China. I am thinking of moving to Shanghai, because I have a job offer there. I think I will definitely accept it, because I have never been to Shanghai and I think it's a nice city to live in like Hong Kong. I have already been accustomed to living an "Asian meets Western" lifestyle. I can survive on eating greasy Chinese veggies, dumplings, or noodles and drinking bitter tea for days, but I can also have a strong craving for Coca-Cola, American burgers, British fish and chips, Italian pizza and pasta, and Norwegian salmon steak. Aside from enjoying late nights watching pirated DVDs at the comfort of my own bedroom, I would also like to watch movies in a theater and attend cultural shows and the like on occasions. I sometimes drink, but I never smoke. I would like to know how much salary I should be receiving every month so I can live a comfortable and decent lifestyle in Shanghai. The company has quoted a gross monthly salary between RMB 15,000 and 20,000 (in US dollar equivalent) a month. Will this suffice considering that I have to remit at least US$200 back home every month, travel around China during holidays, and would want to save money for the future? I am still single. In addition, the job offer quoted all financial remuneration in US dollars. Should I have it quoted in China Yuan considering that I'm working in China and the fact that the China Yuan is appreciating against the US dollar? It has gone up from 8.27 to 8.01 to a US dollar over the last ten months or so. I think it's going to appreciate further as the 2008 Beijing Olympics draws near.

How much is the cost of living in Shanghai? I know that there is no standard answer to this kind of question as the standard of living is entirely based on many factors, particularly on one's personal gauge and lifestyle. But what are the latest figures on the average salary of workers in Shanghai? Price of common consumer goods? I have seen some quotes in this blog but they're outdated.

Miscellaneous questions: What's the most reliable internet service provider in Shanghai? How much is the monthly service fee? How much does cable TV cost if it's not provided by the company? Gym membership?

Cold

Reacher

Joined: May 28, 2006
Posts: 226

Status: Offline

Posted: June 10, 2006 - 07:18 PM

Gym, on average a local gym cost around 1500-2000RMB. Cable is around 30RMB per month. Internet is 1200-1400RMB per year.

I think you will do alright with 15,000-20,000 RMB per month. I earn a bit more than this and am still able to save 400US$ per month and travel around China (even outside of China) every national holiday.

Come to Shanghai, it's a nice place to live and work!

GirlatWork

Ranter

Joined: Feb 14, 2006
Posts: 578

Status: Offline

Posted: June 10, 2006 - 09:06 PM

You can definitely get by with RMB 15K-20K living a decent but not prestigious lifestyle being a single here in SH. The experience itself is worth it.

Michael

Moderator

Joined: Mar 22, 2002
Posts: 6098

Status: Offline

Posted: June 11, 2006 - 08:05 AM

You are right.. it depends on alot of factors.. but you should be able to accomplish most of what yo u want on 15k-20K rmb per month. What you get by satellite ( if you are referring to be able to access western channels) depends on your building- what they have and what they allow ( if you have to put up your own little dish).

If you have been working in Dongguan.. Shanghai will seem like a cultural paradise by companson.

Yes.. if they will do it, get part in USD and part of RMB.

connexon

Squeeker

Joined: June 10, 2006
Posts: 15
Location: Shanghai, China
Status: Offline

Posted: June 11, 2006 - 07:16 PM

Michael wrote:

Where can I exchage money in Shanghai? Are there money changers near Pudong New Area? It's easy for foreigners to exchange money here in Dongguan, Guangdong. I know of at least two money changers in Houjie town that operate under the table. They use their retail stores as a front. It's amazing that these money changers can deal with any type of currency (Euro, HK$, US$, etc.). They're reliable. They won't hand you any counterfeit bills. My colleagues and I have tried it several times already and didn't have any trouble sending the money through Western Union or using it in Hong Kong, Singapore, Malaysia, and the Philippines. They offer excellent rates as well. Will I find similar money changers in Shanghai?

Magnolia
Board Biatch

Joined: June 01, 2004
Posts: 31550

Posted: June 11, 2006 - 11:57 PM

You can either exchange it at a bank or through a money changer. Find one you trust and you will be set.

connexon

Squeeker

Joined: June 10, 2006
Posts: 15
Location: Shanghai, China
Status: Offline

Posted: June 14, 2006 - 01:29 AM
Post subject: Half in RMB, half in US$

[quote="connexon"]

Michael wrote:

Well, I have talked to the HR of the company and she told me that half of my salary would be in US$ (which is non-taxable) and the other half would be in RMB (which is taxable). BUT this was not clearly stipulated in the contract. Aside from this, she told me that I would receive an unspecified monthly allowance depending on what other duties I might have.

Aside from that, I'll get a one-time relocation and shipping fee. I also have a yearly budget for home visits. The company will also pay for my airfare from my point of origin to Shanghai. All these plus medical/dental insurance and the option to buy company stocks, which I'm really excited about. The company is trading at the NYSE and HKSE.

Now my questions would be: Is this a good offer? I have read some posts here and I'm sort of confused as to how much is the ideal salary in Shanghai (which I know depends on one's lifestyle). I have a similar job offer here in Dongguan, Guangdong, and the cost of living here is definitely lower. BUT I'm also after the "Shanghai experience." I'd like to have a social life while working. Even though Dongguan is fast becoming an international city, the only circle of friends I have here in Houjie town, Dongguan are my colleagues from work as not many locals can speak English. I would have to go to Hong Kong on weekends just to have a "social life."

Also, should I insist on knowing how much that "unspecified monthly allowance" is? I have asked the HR representative to re-write some provisions in the contract, but she told me that they're following a company standard or something. The company seems to be a reputable firm. I have read some articles about it online..."largest in China, fifth largest in the world." I'm thinking of signing the contract with a clause, "I am signing this contract knowing that I will get an unspecified monthly allowance on top of the basic salary that was quoted in Section 1.1. Also, I understand that half of my monthly salary would not be taxable and would be given in US$."

???