Korean Job Discussion Forums

[OBwannabe]

I see my last post didn't take.
I did pay off some of my debt, but took on more debt after I moved back. Didn't plan well for post-Korea life as I took a few months off after my last contract thinking I'd be back to the ROK...but it was during the time off that I decided to stay in Canada. Took a couple more months to see my first paycheque and wasn't earning anything worth bragging about.

Debt sucks. I've learned my lesson in that regard.

[cdninkorea]

[big_fella1]

I reached the concusion this year that it isn't possible. To retire in 25 years I figure I will need a million dollars and ego means I would want to leave the kids something so I'll also need to own my house.

To save $1million I need to save $40,000 a year i.e. My whole annual.salary. I am not taking account of interest earned but nor am I accounting for inflation hopefully they'll balance out. I also haven't factored in wage increases as wages have been falling in both real and dollar terms for the last 5 years.

There is research predicting life expectancies have peaked and will begin to fall due to a more sedantry lifestyle. So maybe I don't need to fund 25 years of retirement.

[Unposter]

I think it is doable (I am doing it), but you need to have the right jobs and be a very good teacher. I don't think just anyone can do it.

You also mentioned some desire to have a family. If this is something you are serious about, you need to marry well. A good marriage can be just like a second job - it is something you have to work on.

I would also recomend marrying someone with a job. Raising a family is expensive - at least raising a family well is. You are not going to retire debt free with savings if you are raising a family on a single income as an ESL/EFL teacher even if you work your butt off.

As a single person, you can certainly do it on an ESL/EFL teacher's wage but raising a family will eat through that savings.

While I think there are jobs for older people, even people in their 60s, it is going to take real credentials, real talent and I would say even real connections to get them and keep them. Again, I don't see it as something that just anyone can do.

I would think long and hard about how much you love teaching and how much you are willing to do to hone your craft. You really think this is something you are good at, jump on it, this is your calling.

If you don't really "love" the work, it may not be what you want to devote yourself to. Because unless you are good at what you do, there are ceilings.

If you just love the lifestyle, I won't consel against doing it but you should be reasonable about it. It means you are going to play away your life until you are too old to hold a job and then "geez" it up in the "third world" somewhere.

Think hard and let us know what you think. I think your decision and your decision making process will be useful to everyone.

[Dodge7]

[Dodge7]

[Weigookin74]

[Weigookin74]

[northway]

[youtuber]

[JustinC]

OP I think you're just craving the expat life, not Korea in particular. You could come out here and be in a job for years or it all may get cancelled at the end of the next school year.

Or it could be a midlife crisis.

[Who's Your Daddy?]

I find unposters info solid.

I came here single and saved and worked a lot. Now I am married with kids. The only way I'd be comfortable in retirement is if I worked my ass off, but once you have kids, it becomes almost impossible. Not only will your wife resent your working all the time, you won't see your child much, and you'll be too tired to do it.

I was make over 5 Mil a month for years no problem. After marriage I went up to 6. After the baby came, I couldn't do it, I'm below 4 now. But with kids, that isn't sufficient savings.

Also the excitement of Korea disappears. Initially it is an adventure. Also, at least in my case, I'm tired of teaching. There aren't many other careers here.

Finally. The glass ceiling is low here. After 5 years you can be at the best position in your city. Then where's your aspiration for your life? What can you set yourself as a goal?

So although I've liked living here, you do really hit a wall, both in terms of a career in ESL, and alternative careers.

A little off-topic, but I'd also say the standard of health care here is inferior. Back home you hear of people getting heart bi-passes, here they're just dead. When you get into your 60s you don't want to be in Korea.

[Weigookin74]

I guess best advice, I'd give anyone is to come over and live very frugally. Pay things down as quickly as possible and start saving. Then focus on having a life, upgrading credentials, jumping to another country, or planning another career home if this all crashes. Point is to have a plan B. So long as EPIK doesn't crash in the next one to two years, I shouldn't get caught with my pants down. But, who knows what's going to happen in 2013? There's talk of a double dip recession in 2013 with the so called US 'fiscal cliff' failings. That means even more young 22 years flooding the market. Anyhow, be prepared....

[No_hite_pls]

[Paddycakes]

If you're going to stay long-term, marry a K-girl and start your own hogwan.

There are waygooks in Korea who have become very wealthy off the hogwan biz.

I would not recommend staying in Korea long-term as a worker bee, albeit in a hogwan, public school or uni (most wind up in Uni's).

As the foreigner, you're always going to be on the bottom of the totem pole in any Korean work environment, and you generally won't make much money unless you game your schedule to maximize privates.


Sure, there are a couple exceptions, but they represent the 0.01 percent.

Also, Tompatz said you can be 'middle class.'.

That's sorta true... middle class by Korean terms, but you won't be middle class by western terms.

It would be nearer the truth to say you'll be lower middle class in actual reality.

But, at the end of the day, if you have no options back home, then even if you're just the ESL grunt at some uni, you're still doing better than the call center worker back home in the US.