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jasons1003
Joined: 12 Feb 2009
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 Posted: Wed Feb 18, 2009 2:30 am Post subject: What is the best way to make money for a new teacher? |
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After reading many forums, I figured...No PS since you can't teach at hakwon or do private tutor at night; it is illegal. So I figured...
Teach adult early in the morning from 6AM to 9AM, go off to your Kindy job from 10AM to 4PM. Take some time off then back to teaching adult from 6PM to 9PM.
Or just have two full time jobs with private sessions on the weekend. Why all this? I OWE MONEY TO MY STUPID UNIVERSITY LIKE MANY OF YOU!!!! Like 40 Gs!!!!!!!!!! LOL...not funny at the same time, sigh...Let me hear you peeps. Personal experiences are much appreciated. |
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marlow
Joined: 06 Feb 2005
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| Posted: Wed Feb 18, 2009 2:40 am Post subject: |
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6 a.m. to 9 p.m. is going to kill you fast.
If you can get more loans pick a money making career and stay in school for it. |
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jasons1003
Joined: 12 Feb 2009
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| Posted: Wed Feb 18, 2009 2:49 am Post subject: Kill me softly... |
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| LOL, it will I know. I am only planning to do this for 2 years max. Is this still a suicide mission? Kill me softly Korea... |
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cruisemonkey
Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
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| Posted: Wed Feb 18, 2009 2:49 am Post subject: |
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 BURNOUT What you're proposing is crazy! I'd be surprised if you lasted three months. |
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jasons1003
Joined: 12 Feb 2009
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| Posted: Wed Feb 18, 2009 2:54 am Post subject: well, what do you suggest so I can make more than 4 mill won |
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| So how much can one expect to save a month with hakwon and some private tutors on the weekends? Anyone with a realistic figure? I really don't have to play around in Korea. My soul purpose is to save money. |
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runthegauntlet
Joined: 02 Dec 2007
Location: the southlands.
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| Posted: Wed Feb 18, 2009 3:35 am Post subject: Re: well, what do you suggest so I can make more than 4 mill |
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| jasons1003 wrote: |
| So how much can one expect to save a month with hakwon and some private tutors on the weekends? Anyone with a realistic figure? I really don't have to play around in Korea. My soul purpose is to save money. |
How do you propose to go about obtaining all your illegal tutoring jobs in the jobs in the first place? You planning on putting up fliers or something?
You can save a bit of won, it's not going to turn into too many dollars at the moment, though. |
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xCustomx
Joined: 06 Jan 2006
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| Posted: Wed Feb 18, 2009 3:35 am Post subject: |
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With the exchange rate at 1450, it's going to take you quite a while to SAVE 40k, let alone make that much.
After paying taxes, insurance and pension, you'll probably have about 2million won. Living expenses will be about 700,000-1 million/month, which leaves you with about $700-900 at the end of the month. If you want to do some private tutoring, you can probably make another $500 a month pretty easily. Still, as someone new to the country, don't expect to start making 4+ million a month right away. |
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cruisemonkey
Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
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| Posted: Wed Feb 18, 2009 3:43 am Post subject: |
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Assuming you can get a hogwan job with a salary of W2,400,000/month and pick up four hours of weekend work at W50,000/hour, you could live comfortably and save W1,400,000 per month (if you're not partying and going on 'exotic' vacations).
At the end of the year you would have:
W16,800,000 (savings)
+W2,400,000 (severance)
+W2,592,000 (pension)
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Total = W21,792,000 (USD $14,874.07 at the current exchange rate).
Of course, the above is a 'best case' scenario and there are a lot of things that could go wrong.
Last edited by cruisemonkey on Wed Feb 18, 2009 3:51 am; edited 1 time in total |
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jasons1003
Joined: 12 Feb 2009
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| Posted: Wed Feb 18, 2009 3:49 am Post subject: I see. |
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| xCustomx wrote: |
With the exchange rate at 1450, it's going to take you quite a while to SAVE 40k, let alone make that much.
After paying taxes, insurance and pension, you'll probably have about 2million won. Living expenses will be about 700,000-1 million/month, which leaves you with about $700-900 at the end of the month. If you want to do some private tutoring, you can probably make another $500 a month pretty easily. Still, as someone new to the country, don't expect to start making 4+ million a month right away. |
My plan is to teach adult from 6AM to 9PM, I read for 35000 won /hr, then teach at my hakwon in the afternoon. Math works like this
M-F: 3hrs of teaching in the morning-35000/hr X 3hrs X 5days=525000 X 4= monthly income of 2100000 won
Plus regular hakwon teaching for 2300000 won per month.
Totaling at 4400000 won equivalent to $3250.
Math is right but am i being unrealistic?
I am just picking up an extra shift per day. |
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Rae
Joined: 10 Oct 2007
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| Posted: Wed Feb 18, 2009 3:50 am Post subject: |
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Surprisingly, you can save a lot in Korea. I saved roughly 24m won and I wasn't even trying. If I didn't go on vacations and whatnot, I would have saved an extra 7m won. BTW, I included my severance and pension into that figure.
I work at a PS, in the boonies, and don't do privates. There's tons of legal after school work (at my school) - I never had to ask for extra work, in fact I have to refuse it. The only thing extra I signed-up for was a torturous online program during winter break (I didn't know it would be that bad). |
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Ukon
Joined: 29 Jan 2008
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| Posted: Wed Feb 18, 2009 7:50 am Post subject: Re: I see. |
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| jasons1003 wrote: |
| xCustomx wrote: |
With the exchange rate at 1450, it's going to take you quite a while to SAVE 40k, let alone make that much.
After paying taxes, insurance and pension, you'll probably have about 2million won. Living expenses will be about 700,000-1 million/month, which leaves you with about $700-900 at the end of the month. If you want to do some private tutoring, you can probably make another $500 a month pretty easily. Still, as someone new to the country, don't expect to start making 4+ million a month right away. |
My plan is to teach adult from 6AM to 9PM, I read for 35000 won /hr, then teach at my hakwon in the afternoon. Math works like this
M-F: 3hrs of teaching in the morning-35000/hr X 3hrs X 5days=525000 X 4= monthly income of 2100000 won
Plus regular hakwon teaching for 2300000 won per month.
Totaling at 4400000 won equivalent to $3250.
Math is right but am i being unrealistic?
I am just picking up an extra shift per day. |
'
Your forgetting lesson planning....depending on the school, this can be non-existant or an hour or two a day. Also many hagwons want 20 or so hours a week, not 15....your math is alittle off. So make that 8 hour days with an hour of lesson planning(likely longer given your workload) and your working 9-10 hours a day. Sheesh...Do you have to pay off a loan shark or something? |
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D.D.
Joined: 29 May 2008
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| Posted: Wed Feb 18, 2009 12:16 pm Post subject: |
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Slow and steady wins the race.
Long term solutions work long term.
Short term tactics like yours cannot last long term.
Work smarter not harder.
Be careful how you live this year. Ask yourself do you want to live like this all the time.
20 years can pass and you traded most of your time for money.
Stressed people earn more but also spend more.
As Mr. Buddha said " Always take the middle path" |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Wed Feb 18, 2009 3:39 pm Post subject: Re: I see. |
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| Ukon wrote: |
| [. Also many hagwons want 20 or so hours a week, not 15....your math is alittle off. ? |
20? Part-time yes, but why would they pay someone 2.3 million won a month for 20 hours a week when they can get more hours of work for the same wage or less?
Most want at least 30 (not to mention the special events on Saturday) and many of the rest want 40 hours a week. Look at the contracts in the sticky thread. I don't see any offering 20 hours a week...although it's possible but not likely@ 2.3 million won a month. |
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Nierlisse
Joined: 11 Oct 2008
Location: South Korea
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| Posted: Wed Feb 18, 2009 3:44 pm Post subject: |
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| If saving money is your goal and you don't care about doing anything fun in Korea, why go to Korea? You could get a couple of McJobs at home and work yourself to the bone that way. Why bother coming to a new country and missing out on all it has to offer just to work? |
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megandadam
Joined: 28 Dec 2008
Location: toronto, canada
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| Posted: Wed Feb 18, 2009 3:58 pm Post subject: |
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maybe i am missing something, but i thought it was illegal to do extra work in addition to your primary job?
can someone clear this up for me? |
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