Should I take this HK offer? Desperately need advice.
I just received word that there may be an offer for me in HK as an investment analyst at a boutique that is expanding. My job search in the U.S. has so far been less than ideal and I currently don't have any other offers. I'm hesitant to take this offer and would greatly appreciate any advice out there because I'm worried about:
1. Exit Opportunities. Would starting off in a smaller firm in HK limit my ability to come back to the states after a couple of years? How would employers look upon that?
Also the distance. Is it worth it to be working overseas compared to the states right now?
2. Salary. I'm not completely positive, but I think the average salary for a fresh grad in HK is less than 20,000 HKD and rent probably takes half of that. If I have about 20,000 USD in student loans to pay, is this even a feasible option?
If anyone knows salary progression after a year or two that'd be great too.
I think it depends on the salary. Living with HKD20000 with rent to pay would be tough. Rent would usually take up around HKD8000-12000 for a tiny apartment (300-450 square feet in a reasonable location). On top of that, living costs in HK is quite high.
It's true that most college graduates make less than HKD20000, but they live with their family so they don't have to pay rent...
Anything above HKD25000 would be sufficient.
I'm from Hong Kong and I can answer that. Mean salary in Hong Kong for an undergraduate is about HKD 8000 - 14000, IB analyst maybe better but there is no way comparable to the pre-2008 period. Now I would like to make a slight correction to what the above has said about the rent. With HKD8000 - 12000, you can rent a reasonable tiny apartment (300 - 500 sq. ft) in sub-urban regions (somewhere outside the Kowloon Peninsula or HK Island) such as Shatin, Tuen Mun, Sham Tseng etc. On top of your rent, there are transportation costs which is about HKD1000 - 1500 monthly. In general, anywhere with access to the MTR (HK's subway system) will be expensive to rent. Besides, Hong Kong's real estate market is subjecting to a bubble situation right now, therefore people who can't afford to buy houses and currently renting are definitely driving up the demand and hence the prices in the rental market.
Watch this. It is a project made by a group of master students in Art as a satire to Hong Kong's real estate market. A unit as shown at the end of the video can cost HKD100 daily to rent, which converts to HKD3000 a month. I'm not kidding, a case of that was on the news earlier in HK.
Anyways just my $0.02. If you have any questions, please feel free to pm me.
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