Posted by
Totty
19 yrs ago
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You do not say what your husband is earning only xxx his bonus xxx so how can you expect a serious answer to your question? Salaries in HK, and any other country, are based on qualification, experience and of course, if expat, on the expat package. But if you want to know details, you have to ask details, not what you have read about a elderly couples here in HK...
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qvong
19 yrs ago
Survival mode kicks in and people make due with what they have.
I saw your post previously, most of the locals here would die to have your husband bonus in their life savings unfortunately it'll take some 10+ years to even aquire that much money.
So you want to know how teachers buy a beer...they don't have a sports car they walk or ride the bus, they skip a meal and eat when they are really really hungry, they don't go shopping in LV, Gucci and Chanel, they shop in the markets instead of the mall, they buy their produce local versus CitySuper the list goes on etc...
At the end of the day, it doens't matter how much money anyone has as long as there is a smile on their face and they are happy.
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Well, based on what you entered, a six digit earning by your husband per month. You and your family is very well off with comparsion to almost 90% of the locals average combined income here... So there is no need for you to find a job, just go hang out at those riches clubs that company also provide to you... To answer your question, over 30% of locals makes under $10K here, large portion of them under $20K... probably a single digit % parts with your husband... Even with me, an expat from Canada only makes under $20K... Seriously, I really don't know why people making 6 digit # are asking sily question like this!!!! "showing off???"
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Sulasula, I think it's only appropriate that you post your hubby's income first and then ask others. Don't you think?
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D-Man
19 yrs ago
I have to agree with Bayliner although something that does frustrate me a little is the fact that all those locals earning under 10K per month dont pay tax (except domestic helpers who earn the least). In general these are the one who use most of the government bennifits to the fullest also but are exempt from paying tax for the privilage. When the government talks about GST or raising taxes I think they should look a little closer to home if they need want more cash surplus. Imagine 30% of the population suddenly paying tax, the cash surplus would be pretty healthy.
Ok a little off the subject but its a pretty sad subject to bring up.
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D-Man, are you serious?????? Do you not get the concept of society and resposnsibility to those around you????
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D-Man
19 yrs ago
south side, i get the concept do you? do u think its reasonable that domestic helpers on less that 4k per month have to pay tax where as locals on 10k per month dont have to? why is it people believe they are always owed something for nothing?
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D-Man
19 yrs ago
mango....you guys are so defensive...i am not degrading anyone at all so get over yourself. In HK the people earning in the 10K range are usually living at home and have a very high percent of disposable income. My point is that if the government wants to introduce a GST to increase its revenues why not look at an untapped tax bracket. The system is in place for everyone to use as it should be but i dont see why some should pay for it and other not. It is all based on a percentage basis anyway so its not unreasonable. In the US everyone is taxed so how can u compare? I am not talking about increasing taxes at all but having an across the board tax for all income earners.
Yes you may pay the tax for your domestiuc helper as do I but a high percentage of them pay their own or have it deducted from their salary as set up by the goverment.
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No not a lawyer, the poster says husband in technology. The original poster did mention expats and not locals, so I am not sure why all the responses refer to locals and DH's income.
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Foolonahill, the OP suggested that they also received a club membership, housing and school fees, so while her husband may not be making BIG money in your eyes, he is making pretty darn good money, whether here or anywhere else in the world, especially after factoring in the much lower tax rate.
I also have no problem with someone making a bucket load of money, but the reality is that the figures you are throwing around as typical of your friends' earnings ability means that your friends are in the top 1% of income earners in the developed world, in a city where the government thinks it is a good idea to implement a GST that is purely regressive and where the middle class continues to shrink at the expense of the record home prices on The Peak and South Side.
What do all of your 30-yo friends do for a living to take home HK$120k-HK$200k per month (presumably before bonus)?
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I don't think poeple are moaning that they have to scrimp on $175K a month, they are saying that it does not make them wealthy compared to their lifestyles at home. If they want to live in comparable space (say 3000 square feet) on the South Side, then they won't get any change from $125K. Sure, people live in smaller spaces, but if your children are used to having more room, why squeeze them into a typical HK flat? So it does not leave much for school fees etc.
In terms of what these people do for a living; I'm guessing bankers, lawyers, management consultants, doctors etc. Most of whom have worked their butts off since they were in school and are reaping some rewards in their 30s. I think they know that they are in the top percentiles of earners internationally. Not every one of these people comes here just to make extra cash, many make less than at home but value the experience of working with Chinese companies, having their children learn Mandarin etc.
I think the D-Mans of this world ('In HK the people earning in the 10K range are usually living at home and have a very high percent of disposable income. My point is that if the government wants to introduce a GST to increase its revenues why not look at an untapped tax bracket.') are the ones who defy belief. Why on earth would you expect someone who earns less than $10K a month to shoulder your tax burden? It's pretty darn low for those of us on higher incomes as it is.
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Strange thread! City Slicker, we have not all moved from Australia, some of us have to pay well over $100K in rent to maintain our living standards in London or NYC. Not necessarily mansions with extensive gardens, but not shoe boxes either.
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Todge
19 yrs ago
I'm not on a huge amount, certainly much less than the figures being thrown around here, but more than the apparent 'local' wages.
The majority of the posts in this forum shows two things: selfishness/sour grapes and a lack of appreciation for commercial reality.
SELFISHNESS AND SOUR GRAPES: Does it really matter if lawyers earn big bucks? Does their increased salary somehow reduce yours? Are they stealing money that could otherwise be paid to you? No, of course not. They have made a career choice, studied hard and deserve compensation for their time and skills. Maybe your spent as much time at study, but your career choice was not as lucrative. Maybe you didn't have the intellect or put in the work required to allow you to break into law or medicine or IT or whatever.
COMMERCIAL REALITY: It has been my experience, personal and otherwise, that the amount of education a person has, their skills and work ethic usually determine how much they earn - this is because of the the worth they bring to a company. I have many friends that have high school level education only and, like it or not, this generally impacts how much they can earn. I know others that worked hard at school, worked hard at uni and spend the time moving through the ranks and are now on great salaries. Put in the work, get the rewards. This may seem unfair as intellect also plays a part here, but that's a whole other argument.
Finally, expats are just that: expats. This is not their 'home', so to attract people to HK (pollution, crowds, climate, living conditions) you need to pay them higher wages. Irrespective of whether it is a step down in lifestyle, for many, their family and friends are still back 'home' and quite rightly they are compensated for it. This applies equally to merchant bankers and domestic helpers; otherwise why would either end of the expat community come to HK?
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Nicely said Todge.
I agree with Mum of 2 that this is a weird thread. However, City Slicker, I think people are bright enough to compare apples with apples. Anyone in their right ming would know that they would not get to live on a ranch in HK, London or NYC, in fact your friend is no doubt bright enough to figure out that he could not manage that in suburban Cape Town ot JoBurg.
The point made that people try their best to minimise the disruption to their children is valid. If they lived in major cities before HK, they know that they will not have rolling meadows behind their houses, but they do not want them to have to put all of their things into storage either.
Sometimes that means paying silly rents. Unfortunately, housing allowances are becomming rarer and rarer, so that means that there is less left for other essentials like education etc. Nobody who is paying in excess of $100K on rent is under any doubt that there are plenty of people paying a lot less. They do not feel hard done by, they know that they are lucky enough to have choices, they are just trying to balance their priorities and finances as best they can. They just do not necessarily feel wealthy either though.
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Me too kopfan88. In my experience they use the tax differential to say that you do not need a housing allowance (which almost works out), but you are still down on bonus. Not complaining too much though, I get a sea view when I wake up every morning and I am hardly on the bread line - just have less disposable income than before.
I do know one friend who managed to negotiate a 'traditional' expat package recently (housing, schooling, club etc.), but even my headhunter friends were stunned at that.
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I wished all you high income earners stop showing off. Your so call problem able to live in HK, is a bunch a BS... With since you can afford to drive, living in 100K homes, then you shouldn't have a problem paying a financial consultant to figure out your affordabity... You sure wouldn't need to use an advice free forum to get opinions, or you are just being dame cheap... But noticably it is just showing off. Oh by the way, even Donald Tsang don't make that much...
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Totty
19 yrs ago
With ya kopfan888, and why do those people look down on other people that work just as hard, if not harder than them, yet aren't a banker or lawyer. I normally find the other people are the nicest, most down to earth genuine people you could ever meet.
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With since the government is looking for ways to increase tax revenue, and with sales tax scraped. Here is an opportunity to set difference level income tax brackets, like Canada... And by the way, all you rich wives out there, the smart educated professionals are your husbands. Not you, so don't be too proud of yourself...... Premium prostitution business is blooming thanks to the big spenders, something else for you to worry about...
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Ed
19 yrs ago
There have been some deletions here - please dont use this forum to take pot shots at various professions.
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This is mad!!! I've been scrolling down all the comments on this thread, only to end up with Bayliners comment, that I "shouldn't be too proud of" myself for being a housewife! I'm neither rich nor poor, fall between you all somewhere and totally content with my lot. My husband may be the "smart educated professional" who's being paid at the moment (and for that I'm grateful!) but I hardly think that makes me 'not worthy' as the smart educated one who isn't! Let's not take this thread off on wild tangents, insulting everyone along the way. If you want to comment on the posters thread, stick to the subject.....
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To all of the people like Bayliner who are unhappy with their lot - my wife is one of the 'the smart educated professionals', as are many HK wives. I, like many of my friends, met my wife at work. At the time, she actually earned more than me and was promoted more quickly. A blind man could see that she would also be better with the children. So to those of you who leave your childcare to women who are paid $3400 per month, maybe you should give some women who put their families ahead of themselves or their finances a bit of credit.
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The point City Slicker is that those jealous people like Bayliner clearly undervalue the contribution that mothers make to society and his assumption that people have to be stupid to choose to give up careers to look after their families only demonstrates his ignorance. But yes, I take your point, that with any luck, he does not have a family.
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Just like to say there are many unfortunate people in this world that are barely getting by day by day, with unicef bagging for few dollars a day from us to keep them alive. All you being house wives of husbands earning 6 digit monthly salary, exclusive club memberships, nice cars, 100K/mth rental houses still cries the blue on trouble surviving, and wished to start finding a job. Well, here is the thing, if the initiator of this thread is as "smart educated professional" as her husband, then she wouldn't had to create this thread. All she had to do is to use her husband's income as a comparsion, right???
To be honest with you, being the wives of high income earners are not as good as you think.
Like my friend, her husband makes good high 5 digits/mth, not even a 6, and he's so well off as to be able to keep a girlfriend on the side, takes so call business trips to China, Thailand, Philippines,and other more popular men's playground countries. Where places charges a high premium for a night of escort. Well, guess who those clients are??? It sure arn't those low 5 digits like us... So if you are proud of where you are, then enjoy it...
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Bayliner, some marriages succeed, others fail. Earnings are irrelevant. Some of us are lucky enough to have met soulmates, others have not had the same good fortune.
Anyway, back to work, got rent to pay....
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That's very true, but trust me, having those extra money as a bridge. Men tends to go with the flow of what others in the group are doing... "Men will always be men" The fortunates can also be the fortunates. Survey shows an average person lies 200 time a day....May be the fortunate ones haven't be caught cheating...But the divorce rates are rising as we speak... Please don't get me wrong, there are some fortunates out there, but the balance are just ignoring the fact of life...
BTW, Ed should create a new section for the riches and high income earners where they need to pay to access. A similar platform as joining an exclusive members club... Put them in a class of their own... We don't need to share their unfortunate momments... Like you said "south side" we got to work to pay our rent...
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seal
19 yrs ago
Bayliner,
I have to say that sterotyping is not a good idea. There is good and bad in all types. To those who earn more $$$ than me, I say good luck to them. To the housewives who "don't work", well I would not swap my office job for what they have to do. To the Tai Tai's again good luck to them - I would happily swap my 12 hour working day to do nothing.
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Wow bayliner, chip? shoulder? The creator of this thread said she 'earned' a 6 figure salary, but I don't believe many others have mentioned their take home pay. Infidelity between wives and husbands cannot be linked to household income and opportunities arise on all sides of the fence. Fool is right, as long as you have food on the table and a roof over your head, just get on and live your life as best you can......
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This thread looks like one of those interesting internet phenomenons. People in different econimic circles conversing about their finances and it appears to have ruffled a few feathers.
There's always going to be the have's and have not's. There's always going to be someone who will struggle on the cash that someone else would consider a fortune.
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And there's always going to be someone with a great moniker...love it!
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SulaSula
What on earth possessed you to start up this thread? Some people in HK earn lots of money, most don't. Get over it. It's like this in every city.
If you have to ask other people what they earn the you obviously don't possess alot of common sense.
Simply look at a salary survey completed by a local recruitment outfit.
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Sulasula
I didn't get to see your original thread. Having read every single one of the above responses, I agree to some but not all, and I actually find it startling to see some who have reacted so strongly.
It's pretty simple that we all know if we want to buy a property, we either pay it all off in one go or we put it on mortgage and pay bit by bit.
Nobody asked you to buy a house, nobody asked you to buy things on loan, and trust me, it is definitely not a necessity to have club membership to live happily. You (probably and your hubby) are the one(s) who have made those conscious choice on making those purchases, and the consequence is where you are at.
HK seems to be such an affluent city but you may not be aware that there are plenty children who cannot even afford to have a Happy Meal at McDonald's. (Let's not talk about the nutritional value of McDonald's food because it is not the point here.) Their parents just cannot afford it. They have difficulty in paying the tuition for public schools (NOT international schools). They have difficulty in making ends meet, end of story. And of course they have their story about how unfortunate they have been throughout their life...and please let's not talk about how lazy or whatever these people might have been.
What I'm getting at is that if there is any financial obligations to make, we ask for it ourselves. Nobody makes us buy anything. We are responsible for our own decisions, cause and effect, pretty straight forward. Those who can't afford to eat at McDonald's, they don't go. They won't take out a loan to eat there.
And just in case you are not aware, what you currently have, which is described as "not have money for any luxuries" and "not fancy" may well already be something unimaginable and unattainable to some people even in HK (such a small dot on the world map), let alone the rest of the world. And again, what you have can be nothing to some.
I am so glad to hear you are well aware that in the great scheme of life you have loads already. I guess it might be wise for you to be a bit more sensitive when it comes to the subject of money. As people tend to equate what we own materialistically as security and happiness although it is not so. And some can get very defensive, therefore become offensive. I think they don't mean to attack you in any way or form, it's simply their protective mechanism at work.
Meanwhile, just be content with what you already have. Food for thought: If you live your life today as if you only have what you made when you were teaching, how would you manage financially?
My wild guess would be you may find yourself with lots and lots of extra money.
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The poster is a silly person, as she has nothing to do and becomes a little mentally insane. To create such thread meant she is phychologically ill as she is happy to see everybody battling about what she has created. How much you earn and how much you spend is simply a person's own action. You can earn little but live happily if you know how to organise your life. There is no need to compare with others.I will suggest everybody take a break, pray for her, as she needs to take her soul back.
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Taps
19 yrs ago
Or bored. Let's take minimini's suggestion and put an end to this thread.
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To be honest, I do find it distasteful that anyone would ask another persons salary and income anyhow, but here in Hong Kong I've come across quite a few people who do this. I've never encountered anyone in the UK who would ask this, or the cost of your rent/mortgage, so why when these same people come out here, does this take place? Can I specify that I'm not talking about general rent enquiries in certain locations by other posters.....
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poiuy
19 yrs ago
To answer the original poster's question...
Husband: 180K/mth(>100k Bonus yr)- works 80-90+ hrs a week
Myself: 40K/mth (50K bonus yr)-work 40 hrs a week
Rent: 300K yr (25K month)
HK Tax:400K yr (approx)
US tax: minimal
No kids, no car, no maid, no pet, no mortgages
love living in HK. Do not like LKF, SoHo, no expensive drinking habits as far as I know. Dont like fancy joints. Never been to LV shops anywhere in the world, although have passed by a few. Do we feel rich? No. We do feel very very fortunate. However, when your employer pays you the kind of money my husband makes, they dont just want your hours. They want your soul. So we couldnt do this forever. So we need to save and save and save for the really rainy days.
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Ed
19 yrs ago
Lets chill out here... if people want to indicate their profession and what they earn thats up to them - this forum is anonymous afterall.
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Ed
19 yrs ago
Well... you can go to most job sites and see salary surveys there that are based on input from people in those jobs... we will have such info on our new job site which launches in a few months
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If you are from a Western country, in that original country, you don't need to spend so much money as you do here in HK. You don't need to pay for private schools or club memberships. Local schools are great and you have access to ice public skating rinks, children's pools, restaurants, etc. Are the expats showing off? No. Why are locals writing when this is a site for XPATS? I'm sure some locals live on little money, but our food, our lifestyles and our expectations are different, and if we live here, we miss our families and have to earn enough to compensate for it or many of us won't live here, so what's offensive about that? It doesn't mean we don't like HK, but if our friends and best financial opportunities are elsewhere, would it make sense for us to be here? You can buy large houses with yards for a reasonable price in most parts of North America. England is better than here, from what I understand.
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