Family move to HK or Not
Got a job offer in HK at a US Bank as a Director of Software Engineering org.
Currently live in London with 2 kids (13 year old and 10 year old). Wife does not work, probably will not work in HK either.
Now, my current compensation in London: (everything is in USD to make it easier to compare):
- Base salary : $175,000
- Year end bonus: $120,000
- Take home after taxes: $172,000 (Tax: 45%)
After living expenses manage to save around: $70,000 per year.
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Hong Kong offer:
- Base salary: 2M HKD per year = $255,000
- Expected year end bonus: 1M HKD per year = $130,000
- Take home after taxes: 2.5M HKD = $320,000 (Tax: 15%)
Now on paper, this offer looks great. However, I will need to pay for 2 kids international school tuition. Claude said EFS schools are good value for money and would cost around $40,000 for 2 kids. Searching for apartments in HK they are small and quite expensive as well.
Currently kids go to a public school and academically I'm not very happy with that school, so would be happy to pay for EFS international school for kids.
I would really appreciate if expats with kids could chime in with suggestions around international schools and areas to get a rental apartment.
I would greatly appreciate any information that would help us to make somewhat informed decision if the move is good idea or not.