If you don't have a wife or young family to bring over, the $35k first-year S/O salary will definitely not plunge you into poverty - though you cannot expect to live the life of a high-roller either. Sure, you will probably end up blowing your entire paycheck for the first 1-2 years, but things will get better as you make your way up the company ladder. You can rent a decent place for around $10k in the New Territories, and food can be cheap depending on whether you know where to look.
Undoubtedly you won't be living a lifestyle remotely close to what you are used to at home. I guess it all depends on what you want - to pass over a golden opportunity to stay in your own comfort zone, or do some adventuring and adapting so you can build a future career? Go figure.