I receive quite some questions of expats wondering if the offer or contract is “good enough”. Difficult for me to answer, since I don’t know your situation, expectations and spending habits, but I can give you some tips so you know what you might want to discuss with your boss before signing the contract.
- The biggest cost is accommodation. Many expats get a kind of housing allowance to accommodate the often much higher housing costs here. Note that also for tax purposes it is useful to receive part of your salary as a housing allowance.
- If you have kids, you certainly want support for the fees of international schools and their debenture or capital levies.
- Will relocation cost being reimbursed? like the cost for shipping your belongings, or buying furniture in Hong Kong etc.
- Standard agents cost are 50% of one month rent. So you might want those cost to be covered as well. And know that normally if you sign a rental contracts a 2 months deposit and 1 month upfront payment is required.
- Discuss the amount of paid leave days and your working hours. In one of my other blogs I already discussed the fact that by law you are not entitled to many paid leave days and working hours can be very long.
- Do you get a medical insurance to cover some private medical care? Otherwise you need to rely on the public healthcare, which is quite good as well, or pay a lot for private care. Read more about healthcare in HK.
- Since Hong Kong is an expensive city, think also about what will happen if the company decides to terminate your contract. Will they pay for tickets to return home? Help you with cost of preliminarily cutting contracts and moving back?
- And finally, from a salary perspective: Hong Kong is expensive, but it also depends a lot on the choices you make. Send me a message and I can help you with budgeting so you can have confidence when signing the contract.
This blog has been written by ExpatWise, your Hong Kong relocation partner. If you want to know more about living in Hong Kong, send me a message!