Job Discussion Forums

mdickun83 · Joined: 07 Sep 2010 Posts: 41

I was wondering what kind of money I can save teaching in HK. I was looking in to South Korea and wondering if I can save more here.

About me: 27, Bachelor's in Communication with a 3.5 GPA, have the 100 hour online TEFL certification, Male, From the United States, paying about 500/ month in school loans now but hoping to pay about 800-1000/ month. I like to drink about twice/ week. I'd also want to join a gym and probably learn some martial arts. Wouldn't be traveling a ton.

Any info would be helpful. Thanks.

Perilla · Joined: 09 Jul 2010 Posts: 792 Location: Hong Kong

In HK your quals/exp will probably only get you a private language academy position, paying between HK12-20K per month. That isn't a good rate of pay for HK, so my guess is you'd save more in Korea - much lower cost of living and good comparative rates of pay.

mdickun83 · Joined: 07 Sep 2010 Posts: 41

The value of the Won is fairly low right now vs the USD and the HKD is worth more. When converted to USD (which is what I'll be paying my loans in), I'll make about 2300 in HK vs 2000 in Korea. Now, I'm not sure about the cost of living in HK. Most of the jobs that I've looked at say they pay for accomodations but I'm not sure if that's the norm or if I'm not qualified for those jobs or what.

I also don't know much about the cost of living. Thanks for your help so far. Any other info would be great. Thanks again.

Serious_Fun · Joined: 28 Jun 2005 Posts: 1171 Location: terra incognita

mdickun83 · Joined: 07 Sep 2010 Posts: 41

@seriousfun,

I should've probably proof read that.

Perilla · Joined: 09 Jul 2010 Posts: 792 Location: Hong Kong

The cost of living is high in HK, which is why, on a salary which would allow you to save elsewhere, you'd perhaps just be breaking even here. I've always regarded about HK15K a month as break-even here, but other posters (do a search - there's loads of posts on this topic) reckon they can save on less.

Don't worry too much about the current low exchange rate for the Korean won. So long as war doesn't break out it will only be temporary.

mdickun83 · Joined: 07 Sep 2010 Posts: 41

Thanks for your help. One of the reason I'm looking into HK now is because of the war that may break out. If HK isn't the best place to save, can you give me any idea of where to go?

As of now I'm still planning on Korea, but it can't hurt to have a backup...

prsprsbks · Joined: 31 Aug 2010 Posts: 11

If this is your first time around in Korea, I wouldn't plan on saving 2000 USD a month. With the current exchange rate, it is more likely that you will make around 2000 USD a month, after taxes, before living expenses.

prsprsbks · Joined: 31 Aug 2010 Posts: 11

Joshua2006 · Joined: 04 Jan 2010 Posts: 342

The problem with Korea, especially if you are in one of the big cities with a high expat density, is that weekends tend to be big. Single, first time in Korea, looking for friends = saving not as much as you hoped. My first two years there saw most of my salary being paid to Seoul Pub.

However, if you aren't the 'going-out- type, then saving money there is easy. Eating out every night can cost very little if you get into Korean food. Even drinking every night doesn't need to be expensive on any level if all you want is a coulpe of beers. Buses are fast and frequent, as bus drivers are above the law in Korea. Subways are also fast and cheap.

It is going to depend 100% on you as to how much you save. Even on a newbie salary it is possible to save well as the school will provide your housing which in HK doesn't seem to be the norm and that counts for a lot.

Go to Korea. Experience it and get some experience. Then, when you have 'grown your wings' a bit, move over to HK.