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travelinbri
Joined: 23 Mar 2003
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 Posted: Wed Oct 20, 2004 5:33 pm Post subject: What is considered good pay these days? |
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When I was there, a good teacher could get a job pretty easy that paid around 2.5, but these days I am hearing it is hard to find job paying more than 2.1 or 2.2, I dont wanna ask how much any of you get paid, I am jsut curious, as I am stateside and lookign at jobs, has the payscale gone down with the economy, or is it just youc an land a much better job over there, or both, but in general, what is the average pay of a good job (not a lousy job),
thanks in advance... |
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travelinbri
Joined: 23 Mar 2003
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| Posted: Thu Oct 21, 2004 9:28 am Post subject: |
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panthermodern
Joined: 08 Feb 2003
Location: Taxronto
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| Posted: Thu Oct 21, 2004 10:04 am Post subject: |
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Good pay is more than a BIG NUMBER ...
OR ...
MONEY MEANS NOTHING IN THIS EQUATION ...
You must look at $ vs. TIME vs. B.S.
Look at as a wage: $/Hour not a salary...
2.5 M won may sound good:
BUT is 2.5 M = 130+ hours for Monday - Saturday
better than
1.8 M won = 90 hours for Monday - Friday
Look for these key points:
Split shifts
Manditory Pre-Time
Maditory Overtime
and then:
Housing and other benifits.
I see at it as thus: I show up at work and then I go home. Every second I am not doing what I want to do I am WORKING!
I do not care about Breaks or other ... things ...
MY POINT ...
X Mega won per month MEANS NOTHING ...
In Korea the bottom line is the last thing you should worry about ...
And they will lie anyway ...
Good Luck. |
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Gollum
Joined: 04 Sep 2003
Location: Japan
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| Posted: Thu Oct 21, 2004 3:49 pm Post subject: |
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| Countdown until Real Reality posts another useless fact we've all seen 10000 times. |
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justagirl
Joined: 17 Jan 2003
Location: Cheonan/Portland
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| Posted: Thu Oct 21, 2004 4:06 pm Post subject: |
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| Quote: |
BUT is 2.5 M = 130+ hours for Monday - Saturday
better than
1.8 M won = 90 hours for Monday - Friday |
Exactly. I make 1.9 million and work Monday-Thursday, 3-8pm.
Would I trade that for 2.5million/6-day workweeks, having to be available from 9am to 10 pm? I think not. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Thu Oct 21, 2004 4:13 pm Post subject: |
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| Gollum wrote: |
| Countdown until Real Reality posts another useless fact we've all seen 10000 times. |
I'm bracing for this. Him swooping down and telling us the average wage of a Korean bank employee is x million won a month. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Thu Oct 21, 2004 4:22 pm Post subject: |
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| justagirl wrote: |
| Quote: |
BUT is 2.5 M = 130+ hours for Monday - Saturday
better than
1.8 M won = 90 hours for Monday - Friday |
Exactly. I make 1.9 million and work Monday-Thursday, 3-8pm.
Would I trade that for 2.5million/6-day workweeks, having to be available from 9am to 10 pm? I think not. |
Amen. Also add 500,000 won for your free apartment. So you're really grossing/netting 2.4 million a month.
I net 1.934 million a month. I teach about 17 hours a week. That's 28,000 won an hour or 35,000 won an hour if you work in the free apartment. At current exchange rates thats about CAN $39 an hour. That's $4 more an hour I was billing my last high tech client for technical writing services. $35 an hour for a 40 hour week, over a year, is a $72,000 a year job. I'm really not complaining.
If you really wanted to work a traditional 8 hour day, you could hustle and do 3 hours of privates a day. That would bring you up to 4.2 million won a month. Gosh, that's way above RR's "what are koreans paying themselves for working 10 hours a day at a stuffy insane bank job and having to wear a suit!" gripes. |
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Demophobe
Joined: 17 May 2004
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| Posted: Thu Oct 21, 2004 4:29 pm Post subject: |
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| I haven't worked a weekend nor for less than 2.6 million in years. |
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I_Am_Wrong
Joined: 14 Sep 2004
Location: whatever
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| Posted: Fri Oct 22, 2004 2:04 am Post subject: |
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[quote="mindmetoo"][quote="justagirl"]
| Quote: |
| . At current exchange rates thats about CAN $39 an hour. . |
You've made a mistake in your calculation of the exchange rates. The Canadian dollar is valued higher against the won as it is a stronger currency. It costs you more won to buy Canadian currency so your calculation is greatly inflated because it should go the other way. BTW the recent strengthening of the Canadian dollar means for all us Canadians our pay has technically gone down...and will go lower as the Can dollar is speculated to gain another 5 cents within the year. peace. Good for us if we live in Canada....not good if you live out of Canada and and want to trade a weak Korean Won into dollars. |
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phaedrus
Joined: 13 Nov 2003
Location: I'm comin' to get ya.
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| Posted: Fri Oct 22, 2004 2:16 am Post subject: |
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| I_Am_Wrong wrote: |
| mindmetoo wrote: |
| At current exchange rates thats about CAN $39 an hour. . |
You've made a mistake in your calculation of the exchange rates. The Canadian dollar is valued higher against the won as it is a stronger currency. It costs you more won to buy Canadian currency so your calculation is greatly inflated because it should go the other way. BTW the recent strengthening of the Canadian dollar means for all us Canadians our pay has technically gone down...and will go lower as the Can dollar is speculated to gain another 5 cents within the year. peace. Good for us if we live in Canada....not good if you live out of Canada and and want to trade a weak Korean Won into dollars. |
No, it costs about 900 won to buy a dollar. That means if you buy 35 dollars, you still have won left.
The Canadian dollar is growing stronger against the U.S. dollar, but so are most other currencies.
However, in the past year or so the won has gone down quite a bit compared to the Canadian dollar, so it's really not so good. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Fri Oct 22, 2004 5:52 am Post subject: |
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| I_Am_Wrong wrote: |
You've made a mistake in your calculation of the exchange rates. The Canadian dollar is valued higher against the won as it is a stronger currency. It costs you more won to buy Canadian currency so your calculation is greatly inflated because it should go the other way. BTW the recent strengthening of the Canadian dollar means for all us Canadians our pay has technically gone down...and will go lower as the Can dollar is speculated to gain another 5 cents within the year. peace. Good for us if we live in Canada....not good if you live out of Canada and and want to trade a weak Korean Won into dollars. |
According to yahoo's currency calculator 35,000 won converts to $38 canadian (at the time of this posting).
http://finance.yahoo.com/currency/convert?amt=35000&from=KRW&to=CAD&submit=Convert
There's increasing pressure on the Korean government to stop devaluing the Won and let it rise. A crappy Won makes exports cheap. That's all well and good when commodity prices remain stable, like they were a few years ago. However, a cheap Won also makes rising oil and raw material imports expensive. So that ends up making exports more expensive in the long run. A stronger Won would bring prices into better balance. In short, I'd not sell Won right now.
Last edited by mindmetoo on Fri Oct 22, 2004 4:31 pm; edited 1 time in total |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Fri Oct 22, 2004 7:00 am Post subject: |
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| 12,000 USD pm plus nothing. |
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travelinbri
Joined: 23 Mar 2003
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| Posted: Fri Oct 22, 2004 3:36 pm Post subject: |
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good points, all of them. I worked three years in South Korea, so I have a very decent idea about contracts, I am just curious what the average and above average contract looks like these days.
Thanks,
-TBri |
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Drakoi
Joined: 26 Sep 2003
Location: The World
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| Posted: Sat Oct 23, 2004 1:01 am Post subject: |
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| 3.0 with housing for 25 hrs/wk |
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jajdude
Joined: 18 Jan 2003
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| Posted: Sat Oct 23, 2004 10:42 pm Post subject: |
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| mindmetoo wrote: |
Also add 500,000 won for your free apartment.
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I wonder what the average one is worth. I had a not very good "one room" in Yongin before that rented for less than 300,000. Better than a "go shi won" but not by a great amount. In (most of) Seoul perhaps 500,000 would be about right for somewhere you could live but probably not be thrilled with. |
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