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So you want to work in China eh? What kind of money can you earn? I too was curious so I started doing some research and found some charts that speak for themelves. On one end of the spectrum the financial services employees earn the most - averageing $150,000 a year, which after you adjust for China's low cost of living is equivalent to earning $450,000 per annum in America or $500,000 in the U.K. If however you go to the other extreme you will not be very happy if you are a foreign teacher in China which earns an average of $22,000 per annum, which when adjusted for the COL equates to about $120,000 USD per year. However all these figures are pre-tax amounts and in China, average tax rates for foreigners is 18%. But keep in mind American citizens will be taxed twice since they must also pay taxes back in America as well as China. So they may net about $12,000 per year after taxes.

For the benefits of the teachers reading this post I have attached some good news for you which I found at www.ChinaForeignTeachersUnion.com.

Currently, China has the hottest job market in the world, creating 27% of all new hire jobs in the world and contributing roughly 20% to the world's collective GDP. China just became the largest trader in the world last week and within the next six years is expected to surpass the USA as the number one economy in the world. I just received an awsome pdf file from admin@ChinaJobCentral that has a full load of information about China that every foreigner should read before they go there. I would also suggest visiting www.ChinaScamBusters.com as well. China is unique and apparently a good place to be right now, but bring a gas mask if you go to Beijing or Shanghai since they still operate coal plants for heat in the winter! Cough-cough...sneeze!

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Comments (4)

  • CDNdude's picture

    Not sure about the low cost of living. Rent or apartment prices in major cities are pretty significant. Food prices aren't that cheap either. Apparently gas is more expensive than North America as well.

    If anyone's moving there, would recommend some research for the specific area they're moving too first.

  • Samsur's picture

    Your numbers are exaggerated.

    Shenzhen, Hong Kong, Beijing and Shanghai are are the major financial and industrial cities.
    In expat areas the prices and living standard are almost the same as in EU/NA. You'll end up having a slightly higher purchasing price due to the expat package (apartment, healthcare etc) and slightly lower prices, however my experience is that i actually end up spending the same amount or more, because i've upgraded my life style. (E.g. the marginal cost of quality is lower)

    Sure if you move to China and land a high finance job, just to live in a shitty apartment and eat rice all day, then you'll end up saving a bunch of money. However that is true for alot of places. Also the language barrier is horrible, so it is almost impossible to obtain a decent life without throwing money after expat activities.

  • Sullivan's picture

    My god man if you plan to live in another country you should expect to learn to speak their language eh? Doing so would open up many more doors for you as well.

  • Samsur's picture

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