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blm
Joined: 11 Nov 2010
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 Posted: Sun Dec 30, 2012 10:23 pm Post subject: Re: How do the Jimjillbangs make money? |
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| No_hite_pls wrote: |
Really? Ministop pays 7,000 an hour in my city, and legal minimum wage is near 5,000 an hour. Most university educated full time workers make on average 4.5 million a month. |
If your classified as casual and such then they can pay you less. |
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thurst
Joined: 08 Apr 2009
Location: Seoul
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| Posted: Wed Jan 02, 2013 6:46 pm Post subject: |
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| if the average korean college grad made 4.5 mil/month then they wouldn't have a brain drain, also every neighborhood would be like seocho/gangnam. |
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alongway
Joined: 02 Jan 2012
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| Posted: Wed Jan 02, 2013 7:55 pm Post subject: |
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| thurst wrote: |
| if the average korean college grad made 4.5 mil/month then they wouldn't have a brain drain, also every neighborhood would be like seocho/gangnam. |
He's been back to the forum to post, just not this thread. Obvious troll is obvious. |
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rabidcake
Joined: 10 Aug 2009
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| Posted: Thu Jan 03, 2013 7:26 am Post subject: |
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| PatrickGHBusan wrote: |
| Food, drinks, busier days where a heck of a lot more than 100 people go.... |
I was in there last weekend and it was packed with people. All buying computer time, food, drinks, personal massages, combs/shampoo/razors and other goodies.
I also asked a friend about this. He said the massage people make their money from whoever wants a massage, and they keep most-to-all of the profit from a paying customer who wants a water massage. In exchange, they get paid very little throughout the day to do the cleaning and maintenance of the pools and whatever else needs to be done.
I'm also assuming they make some decent money from the ads they have. |
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World Traveler
Joined: 29 May 2009
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| Posted: Fri Jan 11, 2013 5:27 pm Post subject: |
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For those of you saying the 4.5 mil figure is absurd, it's not. (College grads on average make significantly more than the population as a whole.)
| Unposter wrote: |
I personally think World Traveler's link is more accurate.
But, also do not forget that Korea has one of the largest underground economies in the world - in a nation where most things are paid in cash and there is little ability to provide oversight to businesses of any size, income is probably more under-reported than in other countries. |
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TexasChicken
Joined: 05 Jul 2007
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| Posted: Sat Jan 12, 2013 9:41 pm Post subject: How they make money. |
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Cant believe no one has mentioned it. Prostitution is a big money maker for these places. If you look at the massage menu usually anything under 3만원 is an adjeosshi giving you a deep tissue massage. Over 3 만원 and your moving into a different territory with a member of the opposite sex.
T.C. |
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mytime
Joined: 15 Oct 2006
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| Posted: Sun Jan 13, 2013 5:14 am Post subject: |
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What do you call those where you can sleep over? I cant recall
And how much are they these days? |
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Swampfox10mm
Joined: 24 Mar 2011
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| Posted: Sun Jan 13, 2013 4:47 pm Post subject: Re: How do the Jimjillbangs make money? |
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| No_hite_pls wrote: |
Really? Ministop pays 7,000 an hour in my city, and legal minimum wage is near 5,000 an hour. Most university educated full time workers make on average 4.5 million a month. |
False.
My wife manages an office for a large multi-national company in Seoul. She is involved in hiring recent grads. I read this post, and she burst out in laughter.
Her former boss at another multi-national company was a college grad. He stole over 3 billion won over 2 years. Maybe that kind of thing is being considered in your stats? Or you were suckered by yet another fake feel-good article about Korea, printed by a gov't controlled press meant for international consumption. *laugh* |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Sun Jan 13, 2013 8:28 pm Post subject: Re: How do the Jimjillbangs make money? |
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| Swampfox10mm wrote: |
| No_hite_pls wrote: |
Really? Ministop pays 7,000 an hour in my city, and legal minimum wage is near 5,000 an hour. Most university educated full time workers make on average 4.5 million a month. |
False.
My wife manages an office for a large multi-national company in Seoul. She is involved in hiring recent grads. I read this post, and she burst out in laughter. |
I was never talking about recent college grads, the post was about all college educated workers. My insurance says that the average government employee (teachers, office workers, etc.) is 4.5 million a month. I believe private sector jobs pay even higher on average. My insurance payout is based on that figure. So I guess my insurance is inflating the number to give out more money.  |
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World Traveler
Joined: 29 May 2009
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| Posted: Sun Jan 13, 2013 8:36 pm Post subject: |
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Correct. You are wrong on this one, Swamp. Starting salaries may be low, but wages increase year after year (at a rate greater than what an ESL teacher can expect his wages to go up as time goes on). It is common for a company worker to be making 6 to 7 million a month by the time he's in his thirties. So yeah, 4.5 mil as an average is not inconceivable. (Remember that most Korean adults- adults as a whole- do not have a college degree.)
Here's last year's stats:
| Quote: |
| The average annual starting salary for college graduates in large conglomerates is W34.81 million this year |
...which is 2.9 mil a month...to start. By this year, it is at least 3 mil per month (as a starting salary). |
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alongway
Joined: 02 Jan 2012
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| Posted: Sun Jan 13, 2013 10:45 pm Post subject: Re: How do the Jimjillbangs make money? |
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| No_hite_pls wrote: |
| Swampfox10mm wrote: |
| No_hite_pls wrote: |
Really? Ministop pays 7,000 an hour in my city, and legal minimum wage is near 5,000 an hour. Most university educated full time workers make on average 4.5 million a month. |
False.
My wife manages an office for a large multi-national company in Seoul. She is involved in hiring recent grads. I read this post, and she burst out in laughter. |
I was never talking about recent college grads, the post was about all college educated workers. My insurance says that the average government employee (teachers, office workers, etc.) is 4.5 million a month. I believe private sector jobs pay even higher on average. My insurance payout is based on that figure. So I guess my insurance is inflating the number to give out more money. |
You're making a lot of assumptions there.
1-You assume that government employees are representative of the rest of the working population
2-that private sector really does pay more than government jobs
3-all college educated workers include recent college grads
4-all college educated people are actually working, and working in the field of their choice getting the pay they want.
| Quote: |
| Correct. You are wrong on this one, Swamp. Starting salaries may be low, but wages increase year after year (at a rate greater than what an ESL teacher can expect his wages to go up as time goes on). It is common for a company worker to be making 6 to 7 million a month by the time he's in his thirties. So yeah, 4.5 mil as an average is not inconceivable. (Remember that most Korean adults- adults as a whole- do not have a college degree.) |
Maybe for people working in large conglomerates on the fast track, but that is not country wide in all companies. I know tons of college educated people who have been in their industries a long time who aren't making close to that kind of money into their thirties, and certainly aren't seeing those kinds of raises that would take their salary up that high.
| Quote: |
| ...which is 2.9 mil a month...to start. By this year, it is at least 3 mil per month (as a starting salary). |
Which is the starting salary for the best jobs, guess what the starting salary is at the other companies. Who can't afford to pay the same as Samsung. The average college educated person is not working at Samsung or LG. They're working for all kinds of companies big and small. You simply can't cherry pick the best of the best salary and then turn around and claim that's the industry standard. |
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World Traveler
Joined: 29 May 2009
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| Posted: Sun Jan 13, 2013 11:46 pm Post subject: Re: How do the Jimjillbangs make money? |
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| PatrickGHBusan wrote: |
| Just read a book on Korea where the author cites economic stats that say that the average monthly family income in Seoul is 3M... |
That must have been an old book (or a book using outdated statistics).
Also,
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| The underground economy is estimated at between 300 trillion won and 400 trillion won |
http://www.koreatimes.co.kr/www/news/biz/2013/01/123_128747.html
| Quote: |
| Professionals, such as lawyers, doctors and accountants, have been key targets of the tax agency over the last few years for unreported income. |
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