The Money
Here's How I see it.
I was at selection in LON on Friday last and received this salary information from the HR person.
This is for SO, first year;
Basic Salary: HK$ 422,040 per annum.
Quote:
"In addition, Second Officers are eligible for hourly duty pay and is calculated on 84 credit hours per month equating to HK$ 42,204 per annum.
Annual Bonus (13th Month Salary)
I make this; basic/12 = 422,040/12 = HK$ 35,170.
Hong Kong Allowance:
HK$ 10,000 per month = HK$ 120,000 per annum.
Hong Kong Salaries Tax:
Quote:
"Salaries tax in HK at present is not more than 17% of the employee's gross emoluments. Tax is applicable to all cash allowances provided.
So, for the first year you earn:
422,040
42,204
35,170
+120,000 = HK$ 619,414 per annum.
Tax of 17% on 619,414 = 105,300.
Therefore net salary = HK$ 514,113 per annum or, £41,117 or, 46,092E or, US$ 66,014 per annum.
I may have made some mistake(s), please feel free to point them out!
By the way there are also additional benefits available for people with children, the above figures are for; a single person, Hong Kong based, second officer for the first full year of employment as such.