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Do the Math

 
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tofuman



Joined: 02 Jul 2004
Posts: 937

PostPosted: Mon Apr 04, 2005 12:50 pm    Post subject: Do the Math Reply with quote

"You can expect a total remuneration (including teaching salary, accommodation, travel bonus, and health/travel insurance) up to RMB80,000 a year, depending on how hardworking you are, which is like making US$120,000 a year in Boston, according to homestore.com"

From an ad on Dave's job listings for TDM Language College in China.
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shenyanggerry



Joined: 02 Nov 2003
Posts: 619
Location: Canada

PostPosted: Mon Apr 04, 2005 1:39 pm    Post subject: Reply with quote

You'll note it said "up to". No lower amount. If I went out and worked weekends on top of my uni job, I'd make a lot more than 80k a year.
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kev7161



Joined: 06 Feb 2004
Posts: 5880
Location: Suzhou, China

PostPosted: Mon Apr 04, 2005 2:03 pm    Post subject: Reply with quote

I'm wondering if they are trying to equate the buying power of 80,000rmb in China to the buying power of $120,000 in America? Does anyone think that's an accurate comparison?
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shenyanggerry



Joined: 02 Nov 2003
Posts: 619
Location: Canada

PostPosted: Mon Apr 04, 2005 11:42 pm    Post subject: Reply with quote

I don't think so Kev. For starters, if I was making 120k in North America, I'd be driving a new car, have a detached house in suberbia and vacation anywhere in the world.
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kimo



Joined: 16 Feb 2003
Posts: 668

PostPosted: Tue Apr 05, 2005 1:47 am    Post subject: Reply with quote

Quote:
if I was making 120k in North America, I'd be driving a new car, have a detached house in suberbia and vacation anywhere in the world.


Not if you live in Manhattan. USD120K might qualify (salary of at least 40x monthly rent) you to live in a decent two-bedroom apartment. On top of that you'd pay a staggering monthly fee to park that new car, that is, if you can afford it. New York City, New York State and Federal taxes would bite that 120K hard. I think, though, you could fly to the Dominican Republic and have a good time for a week though. Most other places in the U.S., you would be doing fairly well.
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brsmith15



Joined: 12 May 2003
Posts: 1142
Location: New Hampshire USA

PostPosted: Tue Apr 05, 2005 3:24 am    Post subject: Reply with quote

On Beacon Hill in Boston it costs a minimum of $60,000US just to park your car!

It's so difficult to equate things without precise information. When they said "Boston," did they mean downtown, Weston, Marlboro, Revere? There's one helluva difference. Also, I'm assuming they're talking gross and in Beantown you can count on the Feds and the State (sorry, Commonwealth) stealing around 35% of that.

Also, where's the 80000 RMB being paid? Big city like Shanghai? Far west? There's also a big difference here as well. Is the 80K net after tax? Do they provide a "decent" apartment with all utilities supplied free of charge?
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kev7161



Joined: 06 Feb 2004
Posts: 5880
Location: Suzhou, China

PostPosted: Tue Apr 05, 2005 5:16 am    Post subject: Reply with quote

It looks like "accomodation" is being included in the 80,000. Let's see, in Hangzhou, I work a 10-month contract and earn 50,000. Add in the 2200 travel allowance, 2000 for on-campus meals, free rent and utilities and crappy internet, furnishings in my apartment . . . what else? I don't know how much rent would be in this place if I were to pay for it (+ utilities), but I could estimate 10,000 for 10 months, so we're creeping towards 65,000. If I worked and was paid for a full year, we'd just about be at 80,000.

If I were to go home and start up as a teacher again, I would earn around $2500 per month (gross) x 10 months and we're at $25,000. Take away taxes, insurance, retirement, apartment rental, auto costs, utilities, food, etc. and I'm no worse off here than there. Where that $120,000 figure came from, I can't say.
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tofuman



Joined: 02 Jul 2004
Posts: 937

PostPosted: Tue Apr 05, 2005 12:01 pm    Post subject: Reply with quote

960,000 seems quite a distance from 80,000, 12 times the amount.
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