| Topic Name: |
JPM in Asia |
| Message Name: |
Apartments in HK |
| Date Posted: |
01/10/2006 |
| In Reply To: |
The following were the traditional packages
(1) full expat - housing, schooling for dependents, tax equalization (you pay only what the firm thinks are your home country taxes and the firm absorbs the rest and pays for an accountant to prepare all your taxes), club membership, property management for any owned property in your home country, various sign on and sign off bonuses
(2) lopat (combo of local and expat package)
(3) local hire (in some markets like HK I am told there is a housing allowance for locals. HK prices for apartments make NYC look "cheap")
Most firms have been moving to a new form. We pay you a salary and you take care of everything yourself. You pay all taxes (local and home country) etc, etc. One has to be very careful here as while the initial salary looks good, there may be some real signficant costs. HK apartments (compartments) are much much more expensive than NYC (and you get a lot less space).
www.icered.com is an asian equivalent of vault and you can check them out for info on countries.
There are no firm specific message boards but rather arranged around industries - e.g., IB, commercial banking, etc |
| Message: |
- Certainly not more expensive unless you take it on a basis of Apartment cost / "local" salary
|
|
