Job Discussion Forums

[Eddie]

Hi all! I am curious how much money it is possible to save while working for the PNET scheme. I am very frugal! If you have experience working with the scheme, please give me a rough guess.

[munasa]

I was talking to a PNET last night. She's only been here since February, is on the lowest level on the pay scale and has already saved NZD6,000. I could have saved heaps more, but in my two years here I've spent oodles on airfares for my older son and fiancee, school fees and living expenses for my younger son here, a holiday for four in Asia and an upcoming trip to NZ for the four of us. I could also save if I rented a cheaper apartment. I'm not particularly frugal and am counting on the gratuity to be my savings, but you can see there is the potential to save a lot of money.

[Smoog]

It really does depend on you.
When I first got here, I was working at a private learning centre and only getting $23k p/mnth. Even with that I was able to pay back my around $9000NZ off my various loans and debts in 6 months (i.e saving around $8000HK p/mnth) through living very cheaply. I was budgeting myself to $150HK p/day for travel, lunch and dinner and was able to do that fairly successfully.
Bloody boring existance though.
But now I'm a PNET, with a fairly healthy pay increase I can save the same amount and still have a good time.
If you do want to save best to avoid Western restaurants. Shop and eat local. I can get a plate of fried rice from the local noodle shop for $22. Just an entree at a typical Western restaurant will set you back $80-$100. A main is $150+. The other day I was talked into going to a restaurant in IFC. I ordered the lamb chops. For $180 I got two tiny little chops with a barely discernible salad. With the wine, it ended up costing me over $300 and I left feeling hungry. I had to go to the afore-mentioned noodle shop to buy my $22 plate of fried rice so I wouldn't go to bed hungry.
Shop in Mong Kok for clothes. Speaking of which, there's a factory outlet store opposite Langham place selling Italian men's clothing dead cheap. They have 100% woollen suits made in Italy for $1300HK, $2000 for two. So if anyone needs a suit you won't hurt yourself checking this shop out.

[munasa]

Hey, Smoog, not all western restaurants are that expensive. I ate at Aus 61 in Causeway Bay last night -- set menu consisting of four courses with a choice from three different main dishes, $148 total.
Be Cafe in Wan Chai has a set menu, four courses, $88.
And for a real treat, take someone special to the Happy Hour in the Excelsior at Totts on 34th floor -spectacular view, 2 drinks for price of one between 6pm and 8pm. Choice of alcoholic or non-alcoholic. Around $60.
Set lunches are great value in most restaurants, too. Usually a lot less than $100.
My local Chinese Restaurant serves great meals (Shanghai cuisine) that rarely cost more than $50 a head.

[saroq]

Depending on how much they pay you but I manage about HK$25000 to HK$30000 a month. Of course some months are more expensive than others with flights home, taxes monthly bills etc etc.

[saroq]

This is an old post but I'd be interested to hear from any current NETs about how much they can save in a year. I'm not considering returning as I have a good job in an international school but some people have asked me about the saving potential in the NET scheme vs international schools. I'm single with a dependent but we live quite a frugal life. Our only big expense was that we traveled to Thailand 4 times this year for holidays. I still managed to put away US$38,000. How does that compare with current NETs? I'd appreciate any feedback.

[Marcoregano]

[saroq]

Thought my post was pretty clear about why 1. "some people have asked me about the saving potential in the NET scheme vs international schools." 2. My own curiosity

[once again]

The question is simply answered by: it depends on your salary and outgoings. The NET scheme and International School jobs offer salaries that vary considerably depending on qualification and experience. How much you save depends , in reality, on how much you spend! I guess the real question is "Can you earn more as a NET or at an international school".
But even then, there are so many variables.

[Revenant]

Antagonistic posts removed. Keep it civil and on topic.

[Marcoregano]

As once again suggests, it would be more useful to compare salaries, as the amount saved by any individual depends on a host of variables.

[RiverMystic]

Many teachers here would be lucky to earn 38 000 US, let alone save it. I fork out nearly HK$20000 a month just for rent, as my wife lives in another city and I pay for two apartments.

[anninhk]

I presume he meant US$38000 by the end of his contract which would have been two years.
With the increase of the living allowance to $14,000+ I think most people will be able to save a good proportion of their salary but not if they have a flat for $20000! Mine is only $9300.
I have saved that amount and more during my time here.

[oxi]

Might be easier to compare expenses... mine for my wife and I, per month, approx in HK$, are:-

flat 7500
commute 500
food 6000 (200 average a day guess, I think it's a lot, but we don't drink much)
bills 800 (gas, water, TV, internet, phone, electric is zero)
pension 2000
random pointless shopping 2000

total 18800

I think that's about right, I usually try to live off 20K and stick the rest into another account, to wait for foreign holidays and the taxman...

How tight is that?

[Marcoregano]