Korean Job Discussion Forums

[AaronPSU777]

I'm trying to figure out what, if any, a fair security deposit is. I've seen PS contracts that take out as much as 900,000 for a security deposit, other schools it is 300,000, some schools it is 0 and some schools pay you 300,000 as a settlement allowance upon arrival.

The contract I'm currently considering says they take out 300,000 which is returned 1 month after my last day of employment. For one thing I'm not sure I like them taking out any money at all, not when other people are getting a 300,000 bonus their first day, and secondly I don't like the fact that they want to wait a month after my contract is up to pay me. At that point my bank account will be closed and I'll be long gone, how exactly are they going to pay me? If I have any problems getting it back I'm SOL.

I realize in the scheme of a 1 year contract 300k is small potatoes I'm just wondering if others can give me advice. For reference this is a private school but it is subsidized by the city government so it is quasi-public in a way.

[ttompatz]

[frankly speaking]

300,000 is more than reasonable. The only thing that I would have changed is that the money is returned the day the contract expires, but you have to bring in all of your bills and show that they are paid in full. Unfortunately some bills won't come in for another month though that is why they want you to wait. You can just call each utility and find out how much you owe up to that day.

I really wouldn't make an issue about 300k deposit. If they were asking 600K, that is a little high, but 300k is pretty standard now.

[AaronPSU777]

Got it, I'm just going to ask them to change it so that it's returned my last day of employment. Thanks.

[hochhasd]

[AsiaESLbound]

It's something some district coordinators write into the contracts for their teachers locally, because they had a bad experience with a prior teacher. I met another PS teacher in the next town over and he doesn't have a deposit stated in his contract. It's really dumb, because if I really wanted to run while causing damages, a 900,000 deposit is not going to stop me. This deposit really is saying, "We don't trust you. We will never trust you." And their attitude is precisely this awkward fact from the get go in a job that puts on a security deposit. Don't do what I did. Accept a job putting on a deposit, because it indicates how your school will put on awkward relations from the get go for you to contend with to your discomfort. It's not you, it's the fact for whatever reasons, they had a bad experience before you came along or simply have a toxic work culture. I believe it also indicates a job is demanding and challenging in a competitive environment where beating each other down from the top is how things get done.

And also don't do what I did. Accept a job specifically demanding your nationality as they will constantly judge you and demand you teach the culture of your home country. They will rarely be satisfied regardless of what you do, because it's too much of a nondescript demand where you'd need to read their minds to know exactly what they want and how they want it delivered. ??? You got me on that one, but surely they have to know no one would like any of these conditions they intentionally put on. I can't say it enough times. Don't accept a job requesting your deposit or nationality as it only leads to a nerve racking cat and mouse game of compliments and criticism.

[Skippy]

One other point that comes up with deposits and paying when you leave is the question WHERE will the money go? I mean if they deposit it to you American or UK account you will be getting up to 50,000, heck more being deducted with service fees on this side and other. Point also some people do keep their old accounts open even after they leave and use it when they come back (second contract or whatever). But that 300000 is still sitting there.

Ya do get it refunded on the day you leave! Even the bills are not that hard to sort. All your boss has to do is call up the utility company and ask how much is owed and then close it. This day and age of computers it takes only a day to get the numbers at the most. Still keep records of your bills and at the end you can give them a ballpark figure of what you owe them.

[hochhasd]

[Troglodyte]