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HK economy down the gurgler?

 
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Egas
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PostPosted: Tue Mar 18, 2003 4:59 am    Post subject: HK economy down the gurgler? Reply with quote

How is the poor economic situation in HK affecting the teachers, in terms of lifestyle options. Is it becoming more difficult to get by on a NET wage in HK? What about saving cash, eating out, going to movies, bars etc? Any insight would be appreciated.
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Roger



Joined: 19 Jan 2003
Posts: 9138

PostPosted: Tue Mar 18, 2003 1:52 pm    Post subject: Reply with quote

I am sure 'once again' will agree with me this time around: No, I think your HK salary feels heavier in these deflationary times, though only marginally so. I guess rentals come down in parts of HK, but don't be fooled - many homes are not available for rent simply because their owners don't consider the current going-rates acceptable to them.

You might be more interested in the fact that salaries in general are giving ground, and the salaries of expat teachers have repeatedly been the object of heated debates in the media.
Many Chinese feel expats get treated too well. The civil servants have seen their salaries cut by 6% spread over two or three years, so it is logical that expat teachers will soon follow suit.
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Scott in HK



Joined: 11 Jan 2003
Posts: 148

PostPosted: Wed Mar 19, 2003 12:13 am    Post subject: Reply with quote

NET teachers are civil servants and our salaries were cut along with the rest. The 6% was only for the higher ups, mine got cut just under 2% and since we have a raised every year, it was like not getting your raise.

The economy is not affecting me....my spending habits affect me...but we still manage to save and travel and buy things we want.

The rents are going down by more than enough to make up for the little pay cut we had to take.

The NET is still a good choise if you have the experience and your teaching certificate. There is still money to be made
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