Job Discussion Forums

saint57 · Posted: Sat Mar 11, 2006 1:25 am Post subject: Show Me the Money!!!!!!

I always read posts where people ask about which country is the best for making and saving money. I am opening this thread for all of those who have become truly properous through teaching ESL to step forward and share your experience. I saved $8,000 CDN in Korea in one year, but I'm on the verge of eliminating the job from my resume. I could have saved $8,000 CDN working in a factory in Canada if I put in as many hours. I had a fantastic time in China but I had to dip into my savings.
My point is that the myth of saving big money needs to get eliminated. Teaching ESL can offer a fantastic lifestyle (in your host country) and the experience of a lifetime, but it's not a path to prosperity. I just want to hear the story of someone who will make their friends back home jelous with all the money they make/save.

moot point · Joined: 22 Feb 2005 Posts: 441

Agreed...to an extent. I do not think EFL teaching is going to lead to a prominent career, however, I do think being removed from our western surroundings we put things in a different perspective. At least I've found I have.

If I look at friends and family back home in Canada, all have bought a house and many also have purchases a second home (i.e. cottage). They have a couple of cars and a boat. Perhaps enjoy a few weekends a year hunting ducks or fly-fishing for rainbow trout on the long weekends. They are happy and I sometimes envy this lifestyle. But they are also in debt.

If I look at the English teachers (long-timers, especially), we've gone on to further our degrees, and will most likely find the need to keep studying the rest of our lives. We don't own anything of concrete value. We struggle to make ends meet depending on the country. But in my case at least, and several others I see, we are travelling all over the world with our families in tow meeting and learning languages and new cultures. That's hard to beat, too. I think one needs to think about why they are doing the EFL thing. On the other hand, if we skip out on a trip or two, we could also be saving $10000/year. I don't find that too hard to do with a stay at home spouse and two children.

saint57 · Posted: Sat Mar 11, 2006 4:59 am Post subject: Agreed

Moot Point, I agree 100% with what you are saying. There are certainly benefits of teaching ESL. I'm in the process of getting my B.Ed to return to a career teaching overseas. However, what I'm trying to get at is the myth that teaching ESL is a way to get rich. While I was in Korea many people would brag about how many privates they do and how much they have in their bank. I believe many people enroll in TESL courses and get hyped on making lots of money. Saving $10,000 a year would require sacrifice, but what will $10,000 buy you back home? Maybe a gently used KIA. If you're in it to build a career then it's a great choice, but if you're just in it to bank a little more money than you would at home at the expense of a long term plan then you're selling yourself out.

william wallace · Joined: 14 May 2003 Posts: 2869 Location: in between

nothing to say

thewileycoyote · Joined: 29 Jan 2006 Posts: 31

The annual savings rate in the North America is now negitive. If you exclude gains from rising property values most North American's would be far ahead. This is espeically true for those that have recently finished school and are not living with their parents.

saint57 · Posted: Sun Mar 12, 2006 6:27 pm Post subject: Good Point

Yes, I believe salaries will never rise again in countries such as Japan and Korea. It's the law of supply and demand. So many people are in the game now that they will always be able to find someone willing to plug the hole for beer money. I got the feeling in Korea that management really didn't care about the quality of teaching that went on in the foreign classes.
Yes, the savings rate may be low. Does savings rate include retirement contributions, mortgage payments, etc? Life in the West is expensive which backs up my main point. Suppose you manage to bank $20,000 in Asia, how long will it last you back home? People need to stop focussing on the figure in their bank accounts because A) it's not that big and B) they are sacrificing more than they think to get that number.
If you haven't taught in Korea you probably don't understand the "get rich quick" sub-culture that exists in the teaching community. I get the sense that a lot of the "where can I make/save the most" posters would probably thrive in Korea but they will not understand that every penny they earn will be stolen from their soul and also that when they look back on what they have to show for it they will realize that they got ripped off big time.
I'd like to stress that I'm not dissing all the people who teach ESL for other reasons. There are many great reasons to teach abroad.

khmerhit · Posted: Thu Mar 16, 2006 9:52 pm Post subject:

Saint57 said

Jizzo T. Clown · Posted: Wed Mar 22, 2006 10:43 pm Post subject:

saint57 · Posted: Wed Mar 22, 2006 11:21 pm Post subject:

Hi Jizzo, what positions in Korea are you talking about? Most jobs I'm aware of will not pay you much more with a MA. Yes, university jobs have better benefits but the money is usually a bit less than hogwons. Also, the good university jobs aren't easy to get.

cameron.mayo · Joined: 13 Mar 2006 Posts: 81

I'm sure Khmerhit was talking about both, there is some sort of soul trade off to Cambo, but worth it.

Moot: Please don't talk about shooting ducks.

Work in a bar in NYC, whilst living cheaply in Brooklyn and retire in Asia after a few years. What more could anyone want outa life.

Chris_Travel_the_world · Joined: 06 Apr 2005 Posts: 33 Location: Canada

I don't think that many English tesl teachers have delusions (sp) of becoming rich working overseas. Most of us who are beginning on this journey are BA graduates who can't find a job paying 35000+ (canadian) in our home country. Sure with my BA i could work labour, retail, etc..but with cost of living, etc, I couldn't save as much as I will in Japan and Korean. We have a substantial student debt like 20k+ and we see this as a chance to both travel and pay off the loan before returning to school. If you want to make big money, like in any job, you need big qualifications. There are good salaries for people with Phds in Applied Linguistics, tesol. But yeah, it is nothing like it was 1985-1995, supply and demand, gotta love that capitalism Smile

Chris

Glenski · Joined: 15 Jan 2003 Posts: 12844 Location: Hokkaido, JAPAN

There are those that work 6-7 days a week willingly in order to bank as much money as possible. Some stay in those countries, some leave. Some that make a lot have a definite plan. Others may simply enjoy living in that foreign land and use the money earned there accordingly, so you can't always say "what will $10,000 buy you back home? "

blateson · Joined: 12 Mar 2006 Posts: 144

This thread touches on something I've thought for the last 3 years, having done esl school teaching in 2 countries so far and now starting on my 3rd (all in Asia). The internet and occasional news articles do seem to portray ESL teaching work as "BLING BLING" but once you get over here it proves that it takes effort, time and things to fall into place to actually build up a salary to what posters and writers on the net often boast about. Schools also want to cut corners often, there's risk of being ripped off or school owners throw tantrums.

blateson · Joined: 12 Mar 2006 Posts: 144

Leon30 · Joined: 18 Sep 2006 Posts: 60 Location: South Korea

I know you wont get rich from ESL work, but as an alternative to post graduate entry level jobs back home (at least in England) for a few years to save up enough to further your education or as a bit of capital to change your direction or pay off your student loans it can be a pretty good earner.

Example being - I lived in London and earned the equivelent of around 50 Milion Korean Won a year. Now here I'm on 24 Million Korean Wona year. But after expenses I was only able to save around 400 pounds amonth in London and that would be living VERY FRUGALLY.

Now in Korea I have a 2 bedroom apt to myself, I teach only 18 fifty min classes a week, have a fantastic lifestyle in comparison to my London life and save almost double the money. In ten months I've saved over 4,000 pounds (around 7,600 US dollars at the current ex rate) and that's excluding the 700 pounds I spent on a 9 day Thailand vacation and the 600 pounds I spent on clothes and travel last month.

When I live moderately (that still includes going out locally once or twice aweek for Korean food and beers with mates and say twice a month to Seoul for clubbing) cook for myself, don't take vacations outside of Korea, I COULD save 750 pounds - currently 1,400 US Dollars a month. Times that by TWELVE months plus one months bonus payment at the end of contract that COULD be a nice 9,700 pounds (aprox 18,000 US dollars)

Now, with my personality that would be impossible to do, so I save about 6,000 pounds a year if I'm careful and I DO have a job that pays about 200,000 Won (around 200 Us Dollars) a month over the usual.

I guess I'm saying that for someone over mid twenties and getting into your thirties, no you wont get rich or even close to it. But for someone a few years out of university, or who isn't in a decent paying post who wants to spend a year or two here, you could pay off a decent ammount of debt, save up for a Master's degree or something and live better as the costs of living are low and apartments come FREE...!

Can only say that for Korea though, never worked anywhere else in Asia....