Savings Potential in Shenzhen

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Psychometrika
Posts: 74
Joined: Sun Nov 20, 2016 10:08 pm

Savings Potential in Shenzhen

Post by Psychometrika »

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!
PsyGuy
Posts: 10789
Joined: Wed Oct 12, 2011 9:51 am
Location: Northern Europe

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Post by PsyGuy »

The coin is strong. Its reasonable that if thats your post tax income you could save USD$30K-$40K.
funteacher
Posts: 11
Joined: Tue Jun 11, 2019 7:39 pm

Re: Savings Potential in Shenzhen

Post by funteacher »

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.
Nexttrip
Posts: 27
Joined: Fri Feb 08, 2008 4:29 pm

Re: Savings Potential in Shenzhen

Post by Nexttrip »

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.
PsyGuy
Posts: 10789
Joined: Wed Oct 12, 2011 9:51 am
Location: Northern Europe

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Post by PsyGuy »

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