You're right about that. I have spent my fair share of time there though. It is very expensive, no doubt. Living conditions are not ideal, but neither are those for commuter pilots based in other high cost areas (NYC for example). Is HKG commutable? It would be painful (and a lot of time from home), but yes, it is commutable to some degree. A crashpad would obviously be required. If I read the LOA correctly, a pilot residing in a crashpad would not receive the $2700/month. Hopefully this isn't the case. Nonetheless, a potential new hire would have to ask himself if it is worth it. I guess it depends on each person's situation. It isn't like being deployed to Afghanistan for a year.

If I based my career on my first year earnings I wouldn't have a job in the airline industry. First of all, no one is saying that new hires will be sent to HKG. If they are, they will have to determine if they can take the hit for 7-8 months.