Any Actuaries here?...dilemma

[ba709]

I'm a health actuary currently in the U.S. My company recently has offered me to relocate back to HK for a non-actuarial position but also in the healthcare field, because they need someone with U.S. healthcare experience. I'm debating if I should put the exams on hold for a few years and strengthen my consulting skill first by taking the position in HK. My bosses in the U.S. assure me if I stay here for another year or two, I'll have great opportunities. Business leader in Asia said they'll fast track me by assigning me to jumbo clients. Just wanted to get an idea of the salary range of an actuary (ASA with 2.5 years experience) in Hong Kong. I should be hearing about my offer package this coming week (so far only know that it will NOT be an expat package). I wanted to make sure if I do take the job, I'm not not too far off from the salary that I should be making as an actuary.
Any comments (even non-actuarial specific) are very much appreciated!! Thanks!

[hello_there]

(1) My bosses in the U.S. assure me if I stay here for another year or two, I'll have great opportunities. Business leader in Asia said they'll fast track me by assigning me to jumbo clients.

(2) Just wanted to get an idea of the salary range of an actuary (ASA with 2.5 years experience) in Hong Kong.

(1) I would want some sort of written assurance of that in my employment contract, especially if the move will alter your career path.

(2) Your salary as an employee being relocated internally should be roughly in line with what you make in the US, taking into account differences in cost of living (especially higher rent in HK) and taxes (not sure if you are a US citizen and will still be subject to US income tax). Salary ranges in HK are much wider than in the US, and in general a bit lower for those with under 4 or so years of experience.

[Football16]

It seems that you are really at the crossroads as far as determining a career direction. You seem to be given a choice between a position in the line operations of the business versus becoming a full fledged career actuary. I do not see how you can be both. If being an actuary with all the pay and benefits these guys can get when fully qualified is your ultimate career desire, a shift now might end that for you.

The role you are describing does not sound like you will be a consulting actuary so you get no points towards that either.

If being in the line operation and in Asia is equally appealing you need to come to Asia with the idea that getting back into the actuarial side might be very difficult. You want to get those exams done while early in your working career not when you are at an age where you should be fully immersed in your work.

Not sure of actuarial salaries here but I am certain that this decision is one that can be characterized as being at the cross roads.

In my experience with actuaries in the Canadian P&C business none had gone into the line operations in any company as they wanted to be actuaries only. Lots of money in that field in the right locations. Not sure of health care actuaries but P&C do great as do consulting actuaries.

[ba709]

Thank you both for the comments!

Any idea how big of salary range they would expect you to negotiate within? I don't want to start off with an outrageous number. This is actually my first time negotiating for salary so any tips is very much appreciated!

P.S. I still haven't received the actual offer yet. But the transfer policy that they sent me only ties me to a one-year term (i.e. if I quit within 12 months I need to pay them back all the relocation associated fees), which I don't think is bad at all. If I really hated that job and wanted to go back into the actuarial field, I suppose I can do that after one year? Is it that easy, or am I just fantasizing some non-existing perfection?

[ba709]

Forgot to mention, I'm a HK citizen so moving back to HK to be closer to my family is my ultimate goal. I understand that this is what I want, so I should compromise a lower salary (given the lower tax rates). But I don't think I'd be happy with a salary that I don't feel respected by or sincerity from the company (since it's them who want me to move back sooner than I planned). My plan was to finish all the actuarial exams, get fully credentialed before moving back. But now, working in HK will certainly put off my plan for who knows how many years later (though I only have one exam and few essays to write).

[ba709]

So, I have just been offered a number which, after-tax dollar, is only $100 more than I am making now. I'm expecting another salary increase here in about two months (which could be a 30% raise), let alone the cost of living in HK is so mich higher than where I'm now. So I will definitely negotiate for a higher rate. I'm going to propose another 15%-20%. Does that sound outrageous? I have been offered the local hire package so I'm not sure how much "low-balling" they have played there in the first offer. Worth to mention they were supposed to transfer expatriates but heard that I'm a HK citizen so they said they'd offer me on HK term. Thanks in advance for any advice!