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Money money money

 
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Asian Alien



Joined: 17 Nov 2007

PostPosted: Fri Nov 23, 2007 9:52 pm    Post subject: Money money money Reply with quote

I am trying to get a feel for the financial situation of teachers in Korea. Now, I know that there is some stuff in the FAQs, but it's dated 2003. I am currently in Japan. The average new teacher makes somewhere in the neighborhood of 250,000yen post tax. That's 2,300US very roughly. After necessities, a person could save 100,000yen or slightly under a thousand dollars US. That's an extremely oversimplified view of the salary situation for a new teacher that doesn't do overtime/private lessons. So...how does this compare to Korea?
Thanks in advance,
AA
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Ya-ta Boy



Joined: 16 Jan 2003
Location: Established in 1994

PostPosted: Fri Nov 23, 2007 10:31 pm    Post subject: Reply with quote

The average teacher here makes W2.2 million. Usual living expenses take about half that, leaving people about $1,000 US per month.
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Otherside



Joined: 06 Sep 2007

PostPosted: Sat Nov 24, 2007 2:54 am    Post subject: Reply with quote

I Pretty much second YTB's answer, but the OP stated that "after necessities" one could save approx US$1000 a month. In korea its slightly different. With your apartment paid for, actual "necessities" in Korea are rather minimal and it has a lower cost of living, If one wanted to really save, a goal of around $1400 is possible without too much effort.

I earn approximatly W2.2million, and I send back about $850-900 every month. That being said, I'm making very little effort to save. Eat out every night, two or three times a fortnight splash out on an expensive meal, go out most friday and saturday nights, and so on. Perhaps I'm naturally frugal but I find Korea to have amazing saving possibilities.
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Asian Alien



Joined: 17 Nov 2007

PostPosted: Sat Nov 24, 2007 4:32 am    Post subject: Reply with quote

I've often heard about Korea that accommodation is part of the deal, which seems to sweeten it as well. Do a lot of people teach private lessons or work second jobs on the side? In Japan our visa allows us to work for multiple employers as long as the jobs are within the visa parameters (basically teaching). Same in Korea?
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adeline



Joined: 19 Nov 2007

PostPosted: Sat Nov 24, 2007 6:28 am    Post subject: Reply with quote

private lessons are always illegal on an E-2, teaching visa.
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kingplaya4



Joined: 14 May 2006

PostPosted: Sat Nov 24, 2007 3:29 pm    Post subject: Reply with quote

If you have a good job in Japan I'd say keep it. With all the new visa regs about to go down here, I'd let the dust settle, and then see if you still want to come.

My best guess is because of free rent and reduced costs here, your standard Korea contract is some 200-400 dollars better than your standard Japan contract. In general, people seem to be happier with the overall lifestyle in Japan however.

If the visa situation was different, I'd say give it a shot, but the way things are right now, probably best to stick with Japan unless you're ex-Nova.
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Asian Alien



Joined: 17 Nov 2007

PostPosted: Sat Nov 24, 2007 11:25 pm    Post subject: Reply with quote

kingplaya4 wrote:
If you have a good job in Japan I'd say keep it. With all the new visa regs about to go down here, I'd let the dust settle, and then see if you still want to come.

My best guess is because of free rent and reduced costs here, your standard Korea contract is some 200-400 dollars better than your standard Japan contract. In general, people seem to be happier with the overall lifestyle in Japan however.

If the visa situation was different, I'd say give it a shot, but the way things are right now, probably best to stick with Japan unless you're ex-Nova.


Thanks for the advice. I always like to check around every few years to make sure I am not missing out on anything.
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renzobenzo1



Joined: 08 Sep 2007
Location: Suji, Yongin

PostPosted: Sat Nov 24, 2007 11:40 pm    Post subject: Reply with quote

Asian Alien wrote:
kingplaya4 wrote:
If you have a good job in Japan I'd say keep it. With all the new visa regs about to go down here, I'd let the dust settle, and then see if you still want to come.

My best guess is because of free rent and reduced costs here, your standard Korea contract is some 200-400 dollars better than your standard Japan contract. In general, people seem to be happier with the overall lifestyle in Japan however.

If the visa situation was different, I'd say give it a shot, but the way things are right now, probably best to stick with Japan unless you're ex-Nova.


Thanks for the advice. I always like to check around every few years to make sure I am not missing out on anything.


Your next check-up will be 2009? Razz

I'm the same. Always keeping an eye out for the good deals.
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Mr. BlackCat



Joined: 30 Nov 2005
Location: Insert witty remark HERE

PostPosted: Sun Nov 25, 2007 5:57 am    Post subject: Reply with quote

I currently make a standard 2.2 in Seoul. I send home the maximum and live life to my fullest with a couple of trips throughout the year. A million, or $1000 US/CAN is very doable. $1200 is doable if you're slightly more careful. This month I did $1600 and its not that much of a sretch (living like I would in Canada).

I'd say 60% of your pay can be sent home with a nice lifestyle.
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