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Marshall Placid · 04-25-2013, 02:20 AM

There is one question you should ask.

When you move there, what type of remuneration will you be receiving, either through managing your family business, or taking advantage of your family's connections?

My point is, while you are in China, earning money, and gaining experience, there is an opportunity cost.

ONce you arrive there, what type of salary, benefits, ownership stake(s), will you be getting?

Or, will you be paid a low salary while managing your family's business?

I do understand that one day, you will be taking over (probably) your family's business.

But, when is that?

And until that day, what type of earnings will you be earning from managing your family business?

I mean, logically, they won't just give you a majority stake of the company right-away, so that you can pay dividends to yourself, or to give yourself a large salary. You'll probably have to earn your chops, and then they would agree to increase your salary, and even then, you will probably be earning less than a comparable manager would make (if he wasn't working for the family).

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Or, on another scenario, say you are not flying to China to manage the business, then how are you going to use the connections to start a business/earn money/gain experience?

Even with connections, you STILL need capital to invest in companies or to start a venture.

Would your family help you in providing capital if they have connections?

My point is that you should first figure out the monetary side first.

After all, it could be that you will be in China for many years, without earning a substantial payday until.... who knows when?

It is a risk, and you should get all the information you can first.

You have to figure out if by going to China, there will be a long lull in earnings potential before you hit the "big bucks".

And, you have to understand that by working for your family, UNLESS they own a multi-national or large company, your resume would not look that great if you decide to move back to Vancouver.

But, like most posters said, you are young, and can take risks.

Just keep in mind that many large companies in North America hire entry-level positions from a young age, and some right from University or technical school. There will come a point (age wise) where if you are over a certain age, without qualifying experience, these large companies won't hire you.

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Cost wise: Yes, it is a lower cost of living in China for 95% of most people. But, for a comparable way of life in Vancouver, it will cost much more in China.

Salary wise: You'll get paid a lot less.

So, your cost (comparing same standard of living as in Vancouver) in China is much higher, yet your salary is much lower (probably 50% or more lower).

------------

In any case, good luck!

Risk and reward and opportunity cost and resume building.

04-25-2013, 02:20 AM	#13
Marshall Placid Revscene.net has a homepage?! Join Date: Jan 2013 Location: Richmond Posts: 1,295 Thanked 1,934 Times in 494 Posts Failed 31 Times in 15 Posts	There is one question you should ask. When you move there, what type of remuneration will you be receiving, either through managing your family business, or taking advantage of your family's connections? My point is, while you are in China, earning money, and gaining experience, there is an opportunity cost. ONce you arrive there, what type of salary, benefits, ownership stake(s), will you be getting? Or, will you be paid a low salary while managing your family's business? I do understand that one day, you will be taking over (probably) your family's business. But, when is that? And until that day, what type of earnings will you be earning from managing your family business? I mean, logically, they won't just give you a majority stake of the company right-away, so that you can pay dividends to yourself, or to give yourself a large salary. You'll probably have to earn your chops, and then they would agree to increase your salary, and even then, you will probably be earning less than a comparable manager would make (if he wasn't working for the family). ------------------- Or, on another scenario, say you are not flying to China to manage the business, then how are you going to use the connections to start a business/earn money/gain experience? Even with connections, you STILL need capital to invest in companies or to start a venture. Would your family help you in providing capital if they have connections? My point is that you should first figure out the monetary side first. After all, it could be that you will be in China for many years, without earning a substantial payday until.... who knows when? It is a risk, and you should get all the information you can first. You have to figure out if by going to China, there will be a long lull in earnings potential before you hit the "big bucks". And, you have to understand that by working for your family, UNLESS they own a multi-national or large company, your resume would not look that great if you decide to move back to Vancouver. But, like most posters said, you are young, and can take risks. Just keep in mind that many large companies in North America hire entry-level positions from a young age, and some right from University or technical school. There will come a point (age wise) where if you are over a certain age, without qualifying experience, these large companies won't hire you. ---------- Cost wise: Yes, it is a lower cost of living in China for 95% of most people. But, for a comparable way of life in Vancouver, it will cost much more in China. Salary wise: You'll get paid a lot less. So, your cost (comparing same standard of living as in Vancouver) in China is much higher, yet your salary is much lower (probably 50% or more lower). ------------ In any case, good luck! Risk and reward and opportunity cost and resume building.