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hello kitten
Joined: 20 Nov 2008
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Posted: Thu Nov 20, 2008 9:39 pm Post subject: Do you care about the won? |
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| I don't. I hope it continues to spiral down so all the dead weight goes home, and I can get a sweeter deal with sweeter benefits. |
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sarbonn

Joined: 14 Oct 2008 Location: Michigan
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Posted: Thu Nov 20, 2008 9:50 pm Post subject: |
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I don't see other teachers as dead weight but as other professionals who work in the same country I do. I've always felt that I'd rather make strides based on my own abilities than take advantage of the hardships other go through. In the end, I feel everyone benefits if the won does better. Very few benefit if it tanks, either short term or long term because that new "opportunity" you may think you are achieving will probably come at you at a much lower pay rate based on the new economic reality of where that tanked won might be when it's time for you to cash in on everyone else already having left.
If the main foreigner population leaves, the Korean government isn't stupid. It may be corrupt, nationalistic and sometimes outright hostile towards foreigners, but it isn't stupid. They'll start importing foreigners from other countries to compensate if this ever does happen, and they'll probably hit some of the lesser affluent countries as well, possibly tanking English teaching salaries even further than they might already go. |
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hello kitten
Joined: 20 Nov 2008
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Posted: Thu Nov 20, 2008 9:54 pm Post subject: |
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| sarbonn wrote: |
I don't see other teachers as dead weight but as other professionals who work in the same country I do. I've always felt that I'd rather make strides based on my own abilities than take advantage of the hardships other go through. In the end, I feel everyone benefits if the won does better. Very few benefit if it tanks, either short term or long term because that new "opportunity" you may think you are achieving will probably come at you at a much lower pay rate based on the new economic reality of where that tanked won might be when it's time for you to cash in on everyone else already having left.
If the main foreigner population leaves, the Korean government isn't stupid. It may be corrupt, nationalistic and sometimes outright hostile towards foreigners, but it isn't stupid. They'll start importing foreigners from other countries to compensate if this ever does happen, and they'll probably hit some of the lesser affluent countries as well, possibly tanking English teaching salaries even further than they might already go. |
Actually, teacher salaries didn't start rising till the first IMF scare. |
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maddog
Joined: 08 Dec 2005 Location: Daegu
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Posted: Thu Nov 20, 2008 9:56 pm Post subject: Re: Do you care about the won? |
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| hello kitten wrote: |
| I don't. I hope it continues to spiral down so all the dead weight goes home, and I can get a sweeter deal with sweeter benefits. |
Well, since I get paid in won, and I send a large portion of my salaray home, I care great deal about the won.
What would be the point in a sweeter deal if your salaray is ultimately worthLESS.
Additionally, if all the dead weight went home, there would be NO ESL/EFL industry in Korea. 90% of English teachers are here for the short term. They're here to get drunk and get laid.
I'm getting my sev and final salary on Tuesday, so I hope the won is uber-strong. |
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prideofidaho
Joined: 19 Mar 2008
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Posted: Thu Nov 20, 2008 9:57 pm Post subject: |
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Doesn't everything ebb and flow?
Of course I care about economies in which I work. Am I tired of hearing about it? Yes.
I read about things on my own time, and fifty people telling me that the won jumped two seconds ago is just as ridiculous as fifty people telling me that the weather is getting colder. In case you haven't noticed, us humans are smart and resourceful above being observant. |
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hello kitten
Joined: 20 Nov 2008
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Posted: Thu Nov 20, 2008 9:57 pm Post subject: Re: Do you care about the won? |
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| maddog wrote: |
| hello kitten wrote: |
| I don't. I hope it continues to spiral down so all the dead weight goes home, and I can get a sweeter deal with sweeter benefits. |
Well, since I get paid in won, and I send a large portion of my salaray home, I care great deal about the won.
What would be the point in a sweeter deal if your salaray is ultimately worthLESS.
Additionally, if all the dead weight went home, there would be NO ESL/EFL industry in Korea. 90% of English teachers are here for the short term. They're here to get drunk and get laid.
I'm getting my sev and final salary on Tuesday, so I hope the won is uber-strong. |
Good for you.
Sadly, I'm a lifer. I'm afraid a masters in history isn't worth squat back where I come from. And I'm too old to start again. |
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Rusty Shackleford
Joined: 08 May 2008
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Posted: Thu Nov 20, 2008 10:00 pm Post subject: |
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I'm from NZ and the Kiwi $ is tanking even harder than the won so doesn't really bother me. Every second thread being "Your won predictions" is getting old though.
If you could predict what currencies were going to do in the future, you would be a gazzillionaire and not teaching esl in Korea! |
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maddog
Joined: 08 Dec 2005 Location: Daegu
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Posted: Thu Nov 20, 2008 10:16 pm Post subject: Re: Do you care about the won? |
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| hello kitten wrote: |
| maddog wrote: |
| hello kitten wrote: |
| I don't. I hope it continues to spiral down so all the dead weight goes home, and I can get a sweeter deal with sweeter benefits. |
Well, since I get paid in won, and I send a large portion of my salaray home, I care great deal about the won.
What would be the point in a sweeter deal if your salaray is ultimately worthLESS.
Additionally, if all the dead weight went home, there would be NO ESL/EFL industry in Korea. 90% of English teachers are here for the short term. They're here to get drunk and get laid.
I'm getting my sev and final salary on Tuesday, so I hope the won is uber-strong. |
Good for you.
Sadly, I'm a lifer. I'm afraid a masters in history isn't worth squat back where I come from. And I'm too old to start again. |
I can relate to that. Six years since I even lifted a screw-driver, so my engineering career is in the toilet unless I get a master's. And at 32, even that'll be a hard-sell. |
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Dharma_Blue

Joined: 11 Oct 2008
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Posted: Thu Nov 20, 2008 10:22 pm Post subject: Re: Do you care about the won? |
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| hello kitten wrote: |
| I don't. I hope it continues to spiral down so all the dead weight goes home, and I can get a sweeter deal with sweeter benefits. |
Your logic doesn't make sense. If anything, a bad exchange rate would encourage DECENT or QUALIFIED teachers who can command better salries elsewhere to leave. If pay levels stay low, that just means the bar drops even lower, and more and more unemployable trash who are desperate for a job, any job, and more than willing accept a crap wage will come flowing in. The same thing seemed to happened in '97. |
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marlow
Joined: 06 Feb 2005
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Posted: Thu Nov 20, 2008 10:23 pm Post subject: Re: Do you care about the won? |
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| hello kitten wrote: |
| I don't. I hope it continues to spiral down so all the dead weight goes home, and I can get a sweeter deal with sweeter benefits. |
I would think like that, except it seems that salaries won't adjust soon. I think we'll see Filipinos before we see 3.0M a month.
Also, your sweeter deal is only sweeter if the won recovers. If it stabilizes at this rate then you're only going back to where you started if your salary improves. As is, you'll be losing out if your salary doesn't adjust.
The other problem if it doesn't recover is savings. For those of us who have saved some money in won, even higher salaries won't make our past wages go up....
Anyway, I'm optimistic about the long term and extremely pessimistic about the next year or so. |
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seosan08

Joined: 10 Oct 2008 Location: Korea
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Posted: Thu Nov 20, 2008 11:23 pm Post subject: |
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I plan on staying at least 2-3 more years--that'll put me at 15 years in Asia. I'm getting certs in Adobe and SQL now, since my MS Ed is in Curriculum Design. Hopefully, I can re-jump start something back home.
I'm also investing heavily in the market starting next summer doing the "value buying" approach. I'll try like hell to turn my savings into several times what it is now. |
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Ya-ta Boy
Joined: 16 Jan 2003 Location: Established in 1994
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Posted: Fri Nov 21, 2008 12:57 am Post subject: |
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| If pay levels stay low, that just means the bar drops even lower, and more and more unemployable trash who are desperate for a job, any job, and more than willing accept a crap wage will come flowing in. The same thing seemed to happened in '97. |
This is not exactly what happened. When the economy crashed in '97 it was dangerous to be walking anywhere near an airport because you could get trampled by the rats abandoning the ship. Lots of 'good' jobs opened up for a year or so. When the economy started recovering, people started coming in.
The difference this time is that everyone's economy is suffering. That may well make a difference since the unemployed at home may decide to come over. The employed here may hang on to whatever job they have since there are even fewer alternatives at home. |
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Soccerstar

Joined: 21 Nov 2006 Location: Kyungsangnamdo
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Posted: Fri Nov 21, 2008 2:01 am Post subject: |
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| I care about the won because I actually send some back. I suppose it only matters to those who are either sending some back or leaving soon. |
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jkelly80

Joined: 13 Jun 2007 Location: you boys like mexico?
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Posted: Fri Nov 21, 2008 2:04 am Post subject: |
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| Soccerstar wrote: |
| I care about the won because I actually send some back. I suppose it only matters to those who are either sending some back or leaving soon. |
Yes, and yes.  |
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Wisconsinite

Joined: 05 Jan 2007
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Posted: Fri Nov 21, 2008 8:55 am Post subject: |
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| Does anyone remember what the Won was to the USD in 2000, 2001, 2002? I am pretty sure it was up there...maybe 1700? I think it was quite high at the time I was there....just curious. |
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