frankg: I think I should qualify your comments by offering a comparison... in the telecoms business where I work only the very top guy (running a US$50M business) would get HK$100K per month plus housing, schools, etc. A very good sales engineer / team leader with 10+ years experience on a local contract would get about HK$75K TOTAL, and would reasonably comfortably support a family of four on that. Note that the tax rate is at worst 15% flat.
And there are very many people who like HK very much as a location, myself included (I am from the UK originally). Much of it has a very cosmopolitan feel, there is a great range of food and nightlife (well, OK, a bit light on decent music), and some wonderful hiking and countryside.