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Yu_Bum_suk
Joined: 25 Dec 2004
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 Posted: Wed Nov 19, 2008 6:57 pm Post subject: Looking for work? Don't forget to consider this! |
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| Most job ads these days are way off on the currency exchange rate. I just saw one that was off by over $10,000 on the annual income it cited, and it was using Canadian dollars. Go to a currency converstion site and do the maths yourself. W2,200,000 = $1,522USD at the moment and while the rate might change a bit in the next year it won't change by a great deal. |
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marlow
Joined: 06 Feb 2005
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| Posted: Wed Nov 19, 2008 8:21 pm Post subject: |
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| I hear a lot of people that think they can save $10,000 in their first year. There goes the money they were going to save. Of course they could pinch pennies when they are here and still save that much, but who wants to come halfway around the world to live frugally? |
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Yu_Bum_suk
Joined: 25 Dec 2004
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| Posted: Wed Nov 19, 2008 9:01 pm Post subject: |
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| marlow wrote: |
| I hear a lot of people that think they can save $10,000 in their first year. There goes the money they were going to save. Of course they could pinch pennies when they are here and still save that much, but who wants to come halfway around the world to live frugally? |
If they're getting around $1,350 after taxes and deductions, and if monthly bills are around $100, that means living off around $450 a month to save $10,000 over the course of a year. It can be done, but not very pleasantly or with much of a social life. |
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Perceptioncheck
Joined: 13 Oct 2008
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| Posted: Wed Nov 19, 2008 9:14 pm Post subject: |
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| marlow wrote: |
| I hear a lot of people that think they can save US $10,000 in their first year. There goes the money they were going to save. Of course they could pinch pennies when they are here and still save that much, but who wants to come halfway around the world to live frugally? |
I fixed it for you. Because the exchange rate's pretty good for NZ at the moment and I'm easily going to save NZ$10,000; I don't know about the Pound, the Euro, the Australian dollar, the South African Rand and all the other non-American currencies out there that people might just want to change their money to.
Right. Feel free to continue your fear-mongering  |
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rooster_2006
Joined: 14 Oct 2007
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| Posted: Wed Nov 19, 2008 9:28 pm Post subject: |
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Today, the won hit 1,500. This means that TaLK program participants were, at least for a brief time today, making in the $900s per month.
Look on the bright side, though:
- Good jobs will be easier to find, since no one wants to come here.
- If this continues, salaries will have to go up, meaning our buying power within Korea will increase (except on imports from abroad).
- Korean women will get more willing when they realize their country is returning to the third world, and as their current white boyfriends flee back home.
- Your friends and family can visit you more cheaply.
- You can brag to your friends in the US about how you can get 닭야채볶음밥 from 춘천갈비집 for $1.93. And how your monthly rent for a room in the center of the city is $160 a month with utilities and some food included!
- Since they can no longer pay us decent money, maybe the privileges that the E-2 provides will increase past their current abysmal level. |
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Ramen
Joined: 15 Apr 2008
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| Posted: Wed Nov 19, 2008 9:41 pm Post subject: |
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| ^ Korea = 3rd world country. |
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Draz
Joined: 27 Jun 2007
Location: Land of Morning Clam
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| Posted: Wed Nov 19, 2008 9:47 pm Post subject: |
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*check US exchange rate at work moans loudly* *checks Canadian exchange rate and moans louder*
Goddammit, I NEED that money. I need it real bad. Options! Options! What are they! Time to find out! |
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jadarite
Joined: 01 Sep 2007
Location: Andong, Yeongyang, Seoul, now Pyeongtaek
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| Posted: Wed Nov 19, 2008 10:53 pm Post subject: |
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| But if Korean schools paid more now, would they have a case to lower the salary when the conversion becomes more favorable from won to dollars? |
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Soccerstar
Joined: 21 Nov 2006
Location: Kyungsangnamdo
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| Posted: Wed Nov 19, 2008 10:55 pm Post subject: |
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| Good thread. Newbies pay attention. |
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antoniothegreat
Joined: 28 Aug 2005
Location: Yangpyeong
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| Posted: Wed Nov 19, 2008 11:04 pm Post subject: |
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| jadarite wrote: |
| But if Korean schools paid more now, would they have a case to lower the salary when the conversion becomes more favorable from won to dollars? |
i always argue this point for people that want immediate raises, but there is a difference.
it is supply and demand-like. as the value of the won drops, less people will want to come, so they will need to make it more lucrative. once the won increases, they CANNOT reduce wages, as no one will go for that, but they can delay wage increases and let the rates catch up to the real market value. |
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marlow
Joined: 06 Feb 2005
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| Posted: Wed Nov 19, 2008 11:12 pm Post subject: |
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| Perceptioncheck wrote: |
| marlow wrote: |
| I hear a lot of people that think they can save US $10,000 in their first year. There goes the money they were going to save. Of course they could pinch pennies when they are here and still save that much, but who wants to come halfway around the world to live frugally? |
I fixed it for you. Because the exchange rate's pretty good for NZ at the moment and I'm easily going to save NZ$10,000; I don't know about the Pound, the Euro, the Australian dollar, the South African Rand and all the other non-American currencies out there that people might just want to change their money to.
Right. Feel free to continue your fear-mongering |
Thank you.  |
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maddog
Joined: 08 Dec 2005
Location: Daegu
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| Posted: Wed Nov 19, 2008 11:20 pm Post subject: |
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| Perceptioncheck wrote: |
| marlow wrote: |
| I hear a lot of people that think they can save US $10,000 in their first year. There goes the money they were going to save. Of course they could pinch pennies when they are here and still save that much, but who wants to come halfway around the world to live frugally? |
I fixed it for you. Because the exchange rate's pretty good for NZ at the moment and I'm easily going to save NZ$10,000; I don't know about the Pound, the Euro, the Australian dollar, the South African Rand and all the other non-American currencies out there that people might just want to change their money to.
Right. Feel free to continue your fear-mongering |
GENERALLY, when people use $, they're referring to USD. Five weeks in and you already being a tool. |
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Perceptioncheck
Joined: 13 Oct 2008
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| Posted: Wed Nov 19, 2008 11:53 pm Post subject: |
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| maddog wrote: |
| Perceptioncheck wrote: |
| marlow wrote: |
| I hear a lot of people that think they can save US $10,000 in their first year. There goes the money they were going to save. Of course they could pinch pennies when they are here and still save that much, but who wants to come halfway around the world to live frugally? |
I fixed it for you. Because the exchange rate's pretty good for NZ at the moment and I'm easily going to save NZ$10,000; I don't know about the Pound, the Euro, the Australian dollar, the South African Rand and all the other non-American currencies out there that people might just want to change their money to.
Right. Feel free to continue your fear-mongering |
GENERALLY, when people use $, they're referring to USD. Five weeks in and you already being a tool. |
Not where I come from they don't.
I understand that the exchange rate is not good for newbies if they're changing won back to American dollars, but I feel I have to point out that it's not so bad for people from other countries. And there are people from other countries reading these forums who might get the wrong message and decide not to come because of the Shock! Panic! Mass Hysteria! regarding the wons devaluation against the US$
Korea is still financially lucrative for me. It might still be financially lucrative for others. I'm sorry if you're losing money over here, but there's no reason to go round calling people names. |
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Yu_Bum_suk
Joined: 25 Dec 2004
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| Posted: Thu Nov 20, 2008 12:21 am Post subject: |
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| rooster_2006 wrote: |
Today, the won hit 1,500. This means that TaLK program participants were, at least for a brief time today, making in the $900s per month.
Look on the bright side, though:
- Good jobs will be easier to find, since no one wants to come here.
- If this continues, salaries will have to go up, meaning our buying power within Korea will increase (except on imports from abroad).
- Korean women will get more willing when they realize their country is returning to the third world, and as their current white boyfriends flee back home.
- Your friends and family can visit you more cheaply.
- You can brag to your friends in the US about how you can get 닭야채볶음밥 from 춘천갈비집 for $1.93. And how your monthly rent for a room in the center of the city is $160 a month with utilities and some food included!
- Since they can no longer pay us decent money, maybe the privileges that the E-2 provides will increase past their current abysmal level. |
He he he - that's so true. I can tell everyone that I just paid $650USD for my new HP laptop. |
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BigBuds
Joined: 15 Sep 2005
Location: Changwon
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| Posted: Thu Nov 20, 2008 12:35 am Post subject: |
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Maybe if they're self-centered Americans and think the whole world rovolves around them but when I speak of dollars I'm not usually refer ` ing to US$.
If I mean US$, I'll say US dollars. |
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