Korean Job Discussion Forums

[ryleeys]

I had a friend tell me last night that the general feeling is that any school less than 150 students is not breaking even and existing on loans or capital from the owner. Seeing as how my school has 100 students at the most and probably around 75, how worried should I be?

[kangnamdragon]

A lot of it depends on whether or not the building is rented or owned. Rent can be very high.... say rent is 15,000,000 per month...How many students does it take to cover the rent? If each student is 200,000 per month, it would take 75 students. Figure another 15 to cover your salary and benefits. Then consider the other employees, building utilities, taxes, etc. It all adds up.

[bellum99]

Nobody rents a space for 15 million. There is a calculation that they use decide this. It is based upon key money and money rent. To pay 15 million is crazy unless there are some very special things involved. Just do the math.

150 students * 100,000 (very low)= 15 million
then deduct bus, rent, salaries and such and it should come put fine.

[kangnamdragon]

[Grotto]

kangnumdragon you are full of it
15,000,000 for rent?
15.000.000 for you salary and benefits
I want your job!
tops for a teacher making 2,000,000 a month expenses maybe 500,000 tops.
that totals 2,500,000. add in the other people working there and consider that korean teachers make far less than the foreign teachers do with 5 employess that makes about 10,000,000 at the most for all employees.

rent depends on key money.....15,000,000 a month is a lie and u know it.

stop siding with the hagwon owners it is getting boring

[just because]

1 is student is too many somedays.

I think about 150 students however is break even. I'm not sure how many are at my current one, maybe 250 to 300 but the owners seem pretty happy.