Vancouver vs HK for tech
Posted by marciemarc425@reddit | expats | View on Reddit | 11 comments
For some background - I (28M) currently live in HK with HK citizenship working in a tech/mgmt role in the financial industry, with take home salary around 8.6K USD/mo (950K HKD annual pre tax) I also don't have to pay rent at least in the short term (4-5years) so my take home is pretty much pure net and then minus cost of living (but I don't spend much other than on food tbh, and that is pretty affordable).
Recently I have an offer in Vancouver with visa that would give me a take home salary of around 8.2K USD/mo (200K CAD annual pre tax). However I would have to pay rent (suppose 1.8K USD/mo for 1B1B in downtown area) so my net comes down to 6.4K USD not including COL (don't really have an idea on this. based on my research, grocery cheaper but mid dining more expensive?).
I have lived in UK and NYC in the past, so not really a stranger to relocation and adaptation if that matters. Living condition wise I also don't really have a preference as I can live comfortably in both (though a plus would be I can ski a lot in Vancouver). An upside for Canada I can also see would be a relatively fast track to PR (at least that's my impression or maybe I'm just naive idk). Other than that and monetary comparison, what advice would you give so I can make a more informed decision? Or if you have experience living in Vancouver/HK etc. Thanks!
dat_mane47@reddit
I live in HK but don't know much about Vancouver. I would forget about the money for a second. Where you do want to take your career? You're still young and the next steps are going to be critical in determining your career trajectory.
I'm sure you probably realise this but HK is pretty dead for tech except for the type of role you have now (tech function within finance). I'm sure if you stay here, you'll be able to continue moving up in that type of work, but you might not have a lot of great choices if you decide you want to pivot to something different. At least you're sort of near SG and can try to build a network there.
Does Vancouver have a lot more opportunity and mobility towards your goals? I don't know, but if it does, that could very well be worth the pay cut/additional rent expense. Is Canadian PR something important to you?
IndependentPhone4175@reddit
OP already knows about HK, he's asking about Vancouver
dat_mane47@reddit
claudia_kroll@reddit
Vancouver makes more sense long-term if you're thinking PR and eventually citizenship HK's political situation adds real uncertainty for a 5-10yr horizon. The tax hit in Canada is real (no capital gains exemption, higher income tax vs HK's flat 15%), but the equity + PR path is worth something tangible.
On the cost side, $1.8K USD for 1B1B downtown Vancouver is actually reasonable right now. Net of $6.4K goes further than it sounds if you're not lifestyle inflating.
If you want a detailed breakdown of Vancouver's cost of living, real estate prices, and how it stacks up against other cities, under500k.ai has free city reports that cover exactly that useful for running the numbers before committing.
Mc-Panda1527@reddit
You can rent Modo/Evo if you don’t drive often. Transit is also relatively cheap for Canada. If you fly back to HK often, there are direct flights, but check the prices.
Richmond has a big HK community, 30min skytrain ride from downtown, oh and it’s right beside the airport so there will be some noise.
Don’t forget sales tax and tips
FinestTreesInDa7Seas@reddit
I disagree. The Skytrain is only cheaper if you're doing a 1-zone trip. The Skytrain has a silly tiered pricing structure that scales based on the number of zones you're travelling through.
You pay either $2.70, $4.00, or $5.10 depending on whether you're travelling 1, 2, or 3 zones. To use your example of Downtown Vancouver to Richmond, that's a 2-zone trip, which costs $4.00.
$4.00 is higher than the price of any other light-rail transit system in Canada. Toronto, Calgary, Edmonton, and Ottawa are all between $3.30 and $3.80 as a flat rate for any length of trip.
The $5.10 price of a 3-zone trip in Vancouver is $1.30 higher than the next most expensive Canadian city.
And further, Vancouver's Skytrain is more expensive than nearly every other LRT system in the world. Zurich is the only city I've ever paid more than Vancouver's 3-zone fare.
Mc-Panda1527@reddit
Skytrain is not an LRT
FinestTreesInDa7Seas@reddit
Not for long. The price of a 2-zone pass is increasing to $156.70 in a few weeks.
Toronto's price is $156.00, and that gives you unlimited travelling distance, you're not limited to smaller trips.
Mc-Panda1527@reddit
I provided a list of points to help OP, these minor differences don’t matter. OP makes 200k a year.
FinestTreesInDa7Seas@reddit
Your other points were spot on. OP's earnings don't make your point about transit correct. Vancouver has the most expensive transit prices in Canada, and Vancouver is probably in the running for most expensive rail-transit prices worldwide. I would guess probably in the top 5.
Mc-Panda1527@reddit
Can you provide a list of prices?