Korean Job Discussion Forums

[martinpil]

In the uk teachers earn around �22-28k which is $35-44k and 46-59m won at present.

UK tax is around 23% at that level so about �5k @ 22k salary leaving about 17k. But then rent/mortgage would be about another 5k so this leaves an actual 12k per year net for a salary of 22k or about 1000 a month to spend. But you have to take off about another �100 for NI contributions so you are left with 900 at bottom scale.

Korea I believe is about 3.5% tax so about 966000 won @2.3m salary!!! say 1m won a year. The housing is free so that leaves about 26m won to spend or about 2,150,000 won a month. Then there are health insuance payments so you might be left with 2m a month basic.

Works out about the same spending money for both countries. If only the pay was the same in korea as in the UK, but then once the won recovers, you will be better off in korea....Only thing is you won't be purchasing a house in the long run like at home.

[Big Mac]

The correct tax for a salary of 2.3 million won a month would be 1.46 per cent, which would be about 33,680 Won a month.

Health insurance #1 is 2.54 per cent: 58,240
Health insurance #2 is 4.78 per cent of Health insurance #1: 2,784 Won
Pension is 4.5 per cent: 103,500 Won
There is usually a local tax rate too, usually around 7,000 Won (depends on your city).

So on a salary of 2.3 million won, expect to take home 2,094,796 Won.

I made about $50,000 Canadian a year when I was back home and I seemed to be living paycheque to paycheque. Now I make significantly less but seem to be able to squirrel away at least a million won a month, usually quite a bit more. I know many people who find they have a lot more disposable income here than they did back home.

When you think about the fact that transportation is significantly cheaper here, food is pretty affordable, and rent is free it leaves you with very little to spend your money on.

I think you are getting caught up too much on what your salary is going to be. You can't compare it to what you make at home and think that it's the same thing.

[Rusty Shackleford]

The amount of tax we pay back home is the number one single biggest reason that our take home pay is so pitiful. Taxes are also the number one reason our respective countries are going down the crapper. And for what? The level of service we receive for our tax dollar is dismal, at best.