Korean Job Discussion Forums

Joe Thanks · Joined: 01 Oct 2003 Location: Dudleyville

What happened to the job market?

Armchair and first-hand observations are welcomed!

Cheers,

Joe

jajdude · Joined: 18 Jan 2003

I don't know about "crumbled" but I think it has gotten tougher, partly due to the recruiting racket taking over. You contact these recruiter people and don't know what'll happen till you can show up to the school - which may be a crappy one. September was a tough month for me. Took me 4 weeks to find a job. I've got 4 years experience, 2 good degrees, but this time around was tougher than ever. A few years ago it was like 2 or 3 days and boom, a new job. Now it's better be prepared for a longer search. Or maybe it was just a tough month for jobs or unlucky for me. Anyway I'd concur that the market is getting a bit tougher for sure.

Real Reality · Joined: 10 Jan 2003 Location: Seoul

Downsizing Likened to '98 Crisis
The nation's major firms have been enacting large-scale manpower reductions, as the economy remains mired in a recession. Most of the nation's financial firms, including banks and insurance firms, have been stepping forward with plans to cut employment more forcefully than firms in other fields, and the same trend is spreading to information technology, airline, textile and electronics firms.
Observers said that the mammoth job cuts that affected the country at the beginning of the 1997 financial crisis have once again been sweeping across the nation's business sector.
http://english.chosun.com/w21data/html/news/200310/200310050007.html

Job market outlook dreary
About eight out of every 10 Korean companies do not have any plans for new hiring in the fourth quarter of this year, deepening concerns about the depressed labor market, a government survey showed yesterday.
http://www.koreaherald.co.kr/SITE/data/html_dir/2003/10/06/200310060055.asp

Paji eh Wong · Joined: 03 Jun 2003

I don't think the market has crumbled, I just think it's on the downturn in a cycle. The demand hasn't really gone anywhere. People just aren't comfortable spending their money on english lessons. When the Korean's get their spending confidence back, the money will start to flow again.

rapier · Joined: 16 Feb 2003

The market has definitely dried up to a large degree. Hopefully only temporarily.
The signs were there when my first hakwon closed (Dec 2002), my next hakwon was struggling to pay me and losing students left and right. Now, my 3rd hakwon appears to be long established and financially secure, part of a franchise.
Jobseekers: you may have to lower your expectations a little, and privates are becoming thin on the ground as well.

posco's trumpet · Joined: 20 Apr 2003 Location: Beneath the Underdog

Mankind · Joined: 18 Jan 2003

Well I agree that the pay side of things in Hogwans and the like, seems to have decreesed. The exchange rate is better, and so it seems like hogwans are cutting pay, because they can still quote that it's $1,500 U.S. or 2,500 Can.

Recruiters are taking cuts too. My new job (I'm leaving privates, are you happy Urban?) pays me 5.2-7.8 million per month. That depends on the hours (80min-120max) as I'm paided hourly. I figure if the recruiter was out of the picture (there was noway around using him) I'd make 8-12 million a month.

Anyway, for those that have been around for a while and have some connections, the money can be there. But for new people, and those who avoids privates (thats how I heard about this gig) its tough to make good money now.

HAND Smile

BTM · Joined: 20 Jan 2003 Location: Back in the saddle.

6 million on an average month, for a thirty hour week (if I'm reading that correctly)? Are you fibbing? Will you adopt me?

If not, I'd like to hear what sector your new job is in (as I'm sure you're not going to mention the actual company Laughing

) - corporate, hagwon, uni (definitely not a uni, I guess. heh.), or something else?

It's teaching, right?

Mankind · Joined: 18 Jan 2003

BTM · Joined: 20 Jan 2003 Location: Back in the saddle.

bjonothan · Joined: 29 Apr 2003 Location: All over the place

I used to make anywhere between 2.5 and about 5.5 mill. a month last time I was here.....Once you make the connections you can charge 35 grand an hour or maybe even as much as 45 if you have the experience.....There are a lot of schools that cannot afford a full time teacher and are prepared to pay extra to get out of all of the extra charges that a full time teacher costs......The down side is, that you have to organise your own house and stuff which would be hard at first.....

rapier · Joined: 16 Feb 2003

Its easy for Canadians: fly in on a 6- month tourist visa, share an apartment with some other mounties, score pricates off the internet (several websites advertise privates), build up your schedule at 40.000 an hour (50 if you're blonde), and there you go, 6 months later 12 m won or more saved. I've seen it done.

jajdude · Joined: 18 Jan 2003

Man I feel dumb,

Still just a regular 2.0/m Joe.

Joe Thanks · Joined: 01 Oct 2003 Location: Dudleyville

krell · Joined: 01 Feb 2003

I have been here for 6 years and while Some people may make
loads of money doing privates like that, it is not so easy.
If you have a regular contract of 2,000,000 then with a little work
you may be able to boost it to 3,000,000 or so.
People who only do privates need their own pad

Shared apartment? well if u have a jealus roomate who rats you out
to immigration u are screwed.. so it is better to have your
own - got 2 milllion for key money?(at least)

One person I knew who was successful at doing the cowboy thing
worked out of his korean girlfriend's apartment and she
did all the work of arranging, etc. He also had his former employer
lie about his contract status to immigration(a good friend).

Obviously these are not siituations that are easy to come by,
but a similar setup is probably needed if u are to make money at the top
ranges(7,000,000 or so a month) . Also be prepared to have to work
7 days a week to make that kind of money.

Thats how I see it.