So you want to work in China eh? What kind of money can you earn? I too was curious so I started doing some research and found some charts that speak for themelves. On one end of the spectrum the financial services employees earn the most - averageing $150,000 a year, which after you adjust for China's low cost of living is equivalent to earning $450,000 per annum in America or $500,000 in the U.K. If however you go to the other extreme you will not be very happy if you are a foreign teacher in China which earns an average of $22,000 per annum, which when adjusted for the COL equates to about $120,000 USD per year. However all these figures are pre-tax amounts and in China, average tax rates for foreigners is 18%. But keep in mind American citizens will be taxed twice since they must also pay taxes back in America as well as China. So they may net about $12,000 per year after taxes.
For the benefits of the teachers reading this post I have attached some good news for you which I found at www.ChinaForeignTeachersUnion.com.
Currently, China has the hottest job market in the world, creating 27% of all new hire jobs in the world and contributing roughly 20% to the world's collective GDP. China just became the largest trader in the world last week and within the next six years is expected to surpass the USA as the number one economy in the world. I just received an awsome pdf file from admin@ChinaJobCentral that has a full load of information about China that every foreigner should read before they go there. I would also suggest visiting www.ChinaScamBusters.com as well. China is unique and apparently a good place to be right now, but bring a gas mask if you go to Beijing or Shanghai since they still operate coal plants for heat in the winter! Cough-cough...sneeze!
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