Korean Job Discussion Forums

[mellow-d]

My friend and I were discussing the topic of severance pay and we were wondering if you're entitled to receive severance if you quit your contract. What if you worked for a year, resigned and then quit?

I think you don't get it but my friend thinks you do. What do you think?

[tanklor1]

If you worked a year didn't you receive your severance for that year? Outside of agreements with who ever is signing your cheques you are not automatically entitled to it.

[OculisOrbis]

If you completed one year, but did not take the severance and extended - yes, you are entitled to one year + the prorated portion of the following year(s).

If you completed a year, took the severance, extended and quit without completing the second year - No, you get nothing for the portion of the second year that you completed and you were already paid severance for year 1.

If its your first year and you quit without completing a full year - you are entitled to nothing with regard to severance.

[BigBuds]

[jonpurdy]

[mellow-d]

Thanks for the responses! So, do you recieve a severence payment for every year of employment completed in Korea, even if you always stay with the same school? I'm confused by the concept of pro-rated severence amounts during the second year because this sounds more like how the pension refund works.

It was my understanding that one single severence payment is paid to the employee when they sever employment with the school (whether that is after one year, two years, or longer). No? I hope not. Mellow-D loves money.

[OculisOrbis]

It's up to the employer and the employee. If you take the payment with each completed year, there's no risk of being ripped off or left hanging by a bankruptcy.

If you let it ride for more than one year, you incur the risk of the employer screwing you over or losing their shirt - for a larger and larger pot of money with each passing year. It is not uncommon for a previously fair employer to turn vindictive and sleazy over a small incident so never trust your 'good' employer to remain so indefinitely.

About the only pro for for letting it ride is that if you get a raise in your 2nd, 3rd, 4th... year, the severance for the entire employment period is based on your earning for the last 3 months of your employment (including overtime during that period). The calculation finds your average daily wage for that 3 month period and multiplies it by the total number of days you were employed.