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Savings Potential in Shenzhen

Savings Potential in Shenzhen

Postby Psychometrika » Mon Sep 30, 2019 1:58 pm

I recently received a verbal job offer in Shenzhen and wanted to check with the community to see what my savings potential could be. I’m esstimating my after tax income including bonuses would be around $70,000. The offer includes standard benefits like housing (studio is free but I might upgrade to a 2-bedroom for ~$200 extra per month), flights, health insurance, etc. This is a solid offer for an experienced (10 years) AP teacher, yes? Not WAB good maybe, but looking over the Search database I’m not seeing very many schools where I could do better.

My primary goal right now is to save. The school is for profit, but I can tolerate that if the saving are solid. I am single and plan on eating out for dinner often (the school provides breakfast & lunch on school days) at moderately priced local places but will splurge on expat focused places maybe once or twice a week. I would also probably do 2-3 international trips per year in the region with modest, but not super frugal, budgets (think inexpensive hotels but not hostels) plus I would do the occasional trip to HK. I also would not be getting a car in Shenzhen and would bike/walk/use public transport mostly with the occasional taxi when the other modes are inconvenient. I would get a maid to clean weekly as well too.

Given all that do you think savings of $35-40k are feasible? Thanks for any advice!
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Response

Postby PsyGuy » Tue Oct 01, 2019 12:13 am

The coin is strong. Its reasonable that if thats your post tax income you could save USD$30K-$40K.
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Re: Savings Potential in Shenzhen

Postby funteacher » Tue Oct 01, 2019 9:03 am

I have lived in SZ recently, and outside of vacations and western restaurants, I only spent $600 or so a month, and I took didis more than I should have. Public transport and local restaurants are cheap. Everything's cheap. You could literally save 80% of that easily, if you keep your holidays to Asia. Obviously, you can save less and live more extravagantly, point being, you could save $50k a year without exceptional difficulty.

I'm really curious who in the SZ area pays that kind of money...none of the schools on Search in GZ or SZ post salaries that high.
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Re: Savings Potential in Shenzhen

Postby Nexttrip » Tue Oct 01, 2019 10:50 am

funteacher wrote:
> I'm really curious who in the SZ area pays that kind of money...none of the
> schools on Search in GZ or SZ post salaries that high.

I'm guessing the original poster is being offered an Admin-type position. Not a run-of-the-mill teacher position.
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Comment

Postby PsyGuy » Tue Oct 01, 2019 9:16 pm

There are IT/DT appointments in SZ that pay that kind of coin especially with TLR.
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