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zaxusername
Joined: 24 Oct 2008
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 Posted: Sat Oct 25, 2008 9:26 am Post subject: thinking about Korea |
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Hello, I am currently going through my yearly, "should I teach in Korea?" phase. I finished my BA and found no jobs, so I did a year masters program in Europe, and now find no jobs once again. So, I have a couple of questions for you folks that have done this, or are doing it.
While money isnt my primary concern, I do need to pay some student loan bills. What is a realistic amount I could expect to save and throw at my collectors when I am done?
I know the pay for teaching depends on a vairity of factors, but what could one expect to get with a Masters in something other than education... I have limited teaching experience. Is it worth the investment to get certified?
I have many other questions, but this is probably my basic starting one, before I harass you all with a dozen more. |
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soviet_man
Joined: 23 Apr 2005
Location: Seoul
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| Posted: Sat Oct 25, 2008 1:11 pm Post subject: |
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| Quote: |
| "should I teach in Korea?" |
Having a masters degree and working at a top Korean university in late 2008 --- will yield the same profit as someone who had a bachelor degree working at a hagwon in 2004/5.
That's the bottom line. Times are tough.
Consider the math:
MONTHLY INCOME:
Base Pay Before Tax: Let's say you get 2.3 million as a conservative example (you have no previous experience, this is what they will push for).
MINUS MONTHLY EXPENSES:
Taxes --- Let's say 0.3
Food/Home Supplies --- 0.3
Phone/Internet --- 0.1
Apartment Maintenance --- 0.1
Personal Expenses/Clothes --- 0.1
Travel --- 0.1
So what are you left with about 1.3 million. If you budget hard perhaps 1.5.
1.5 million won = around $1000 US a month on today's exchange rates.
That is barely above ESL pay rates in mainland China, which also has a far lower cost of living - to the point where in some cases, it looks to me that it may be reaching a point of actually being more lucrative than Korea. |
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Chamchiman
Joined: 24 Apr 2006
Location: Digging the Grave
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| Posted: Sat Oct 25, 2008 1:33 pm Post subject: |
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| soviet_man wrote: |
| Quote: |
| "should I teach in Korea?" |
MONTHLY INCOME:
Base Pay Before Tax: Let's say you get 2.3 million as a conservative example (you have no previous experience, this is what they will push for).
MINUS MONTHLY EXPENSES:
Taxes --- Let's say 0.3
Food/Home Supplies --- 0.3
Phone/Internet --- 0.1
Apartment Maintenance --- 0.1
Personal Expenses/Clothes --- 0.1
Travel --- 0.1
So what are you left with about 1.3 million. If you budget hard perhaps 1.5. |
Wow.
I don't know anyone who gets by on this budget, especially in the first few months. The first half of my first year in Korea was a drink-sodden blur of restaurants, bars and weekend adventures. |
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PRagic
Joined: 24 Feb 2006
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| Posted: Sat Oct 25, 2008 4:02 pm Post subject: |
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The OP has established a trend and could therefore just go on for the Ph.D.! Just kidding.
In response to another poster, the 'top universities', in Seoul at least, are paying 3.5-4.5+ a month.
It remains to be seen what will become of the Korean Won. Some forcasts see it falling to 1600 by year's end. New reports from the IMF say that Korea's fundamentals are solid, and that other countries (probably the US and Japan) might step in to help defend the currency. Personally, I think this is a mental slight; they say it and wait to see how speculators react.
Either way, with the MA, and with a lot of people fixing to leave, you might be able to land a univeresity job straight away. This would allow you to enjoy your time in Korea rather than slaving away at a hakwon.
OP, what are your degrees in? That would help. |
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socio.girl
Joined: 21 Oct 2008
Location: Daejeon
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| Posted: Sat Oct 25, 2008 5:52 pm Post subject: |
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| I wasn't able to save a lot of money my first few months here because of all the expenses related to moving and going out/meeting people. I also went on a few weekend adventures. But after that I could easily save 1000$ a month. If you have an MA in something other than education you could probably get a job in an "average" university, which is way better than any hagwon. |
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mountainous
Joined: 04 Sep 2007
Location: Los Angeles
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| Posted: Sun Oct 26, 2008 8:13 am Post subject: |
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| soviet_man wrote: |
| That is barely above ESL pay rates in mainland China, which also has a far lower cost of living - to the point where in some cases, it looks to me that it may be reaching a point of actually being more lucrative than Korea. |
It has been more lucrative in China for a number of years...a well kept secret among those in the know. Western Salaries in a relaxed Chinese atmosphere, affordable cuisine and amenities, etc...try it.  |
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PRagic
Joined: 24 Feb 2006
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| Posted: Sun Oct 26, 2008 3:33 pm Post subject: |
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Actually, everyone I know who has taught in China has swung back to Korea for longer-term work. The pay has improved, but, outside of Taiwan, where would you work? Beijing? No thanks. Hong Kong? Great, but who considers that a job in China?
So post some examples showing why China is the place to go. I'm sure some will be interested. |
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sojourner1
Joined: 17 Apr 2007
Location: Where meggi swim and 2 wheeled tractors go sput put chug alugg pug pug
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| Posted: Sun Oct 26, 2008 8:07 pm Post subject: |
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Yes, as many of you are aware, the Korean won has lost a whopping 1/3 of it's value in the past 2 months. It was 1,000,000 won= $1000 US and now it's 1,000,000= $666 US.
This blows if you're trying to get out now, but doesn't immediately effect us until we need to sell Won unless it improves by then. If I were thinking about teaching in Korea and wanted to go, I would just go ahead and take the risk, because you don't have to sell Won until later on next year or the year. |
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