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Korean Job Discussion Forums
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braindrops
Joined: 13 Sep 2011
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 Posted: Sun Feb 17, 2013 2:44 am Post subject: |
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Of course 10 mil is outrageous. I am not the one who earned it. I wish i had been. But i saw it with my own eyes. The guy owns two buildings -- sixteen small korean villas in total. He lives in one and rents out the others. The money came from teaching. I told him i would become his slave if he taught me his ways. Alas, he did not. He is korean, by the way. I am not trying to suggest that this is even possible as a non korean. In fact, i have no idea and my knee jerk response would be to say that it is not.
I think as a non korean esl teacher it would be a fine accomplishment to put away 10k a year on average. Anything more than that is golden. |
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bobbybigfoot
Joined: 05 May 2007
Location: Seoul
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| Posted: Sun Feb 17, 2013 3:53 am Post subject: |
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It's pretty standard to save 16 million a year. If you can't bank 1 million won a month, plus pension and severance, something is wrong.
Stay in Korea 10 years, that's 160 million won plus interest. With any sort of ambition, this will easily amount to $200,000.
Now imagine a young couple coming here and staying from 25 to 35 before returning home to start a family. They could easily go back with $400,000. Just a little bit of hustling and they'd have $500,000.
Don't knock Korea. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Sun Feb 17, 2013 9:19 am Post subject: |
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| PREEST wrote: |
| Malislamusrex wrote: |
I agree with this. If you are single or just married you can save a lot because there is little tax and you could make twice the income of a family if you have got the right visa. If you have kids, all your extra income will go on kids because there are no public services.
| Captain Corea wrote: |
How many in this thread have a family here? Own a house in the burbs? Are paying for schooling?
I have to say, living in my little officeTell as a single guy, Korea seemed much cheaper. But actually living here long term, and not feeding my family Kimbapjungguk every day, I don't really feel that Korea is all that cheap.
In fact, the only things I'd confidently say are cheaper are Internet and Public Transit. |
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Yes but who would consider working in Korea as an ESL teacher when you have a wife and kids? Sure, if you have a Korean wife it might be in your interests to stay in Korea for a while, but when Kids come into the picture it makes sense to move on.
I sure as hell know my GF and I will not be raising our children in Korea under their hellish and inhumane education system. |
First of all, many people choose to stay in Korea after they have kids (mixed couples that is) and do well.
Secondly, ESL is not limited to Hakwon entry-level jobs for 2.1.
As for your qualification of the education system, its amusing in its caricatural exageration. |
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misher
Joined: 14 Oct 2008
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| Posted: Sun Feb 17, 2013 2:05 pm Post subject: |
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It's pretty standard to save 16 million a year. If you can't bank 1 million won a month, plus pension and severance, something is wrong.
Stay in Korea 10 years, that's 160 million won plus interest. With any sort of ambition, this will easily amount to $200,000.
Now imagine a young couple coming here and staying from 25 to 35 before returning home to start a family. They could easily go back with $400,000. Just a little bit of hustling and they'd have $500,000.
Don't knock Korea. |
Yeah that's pretty good. I think everyone knows that you can get a pretty decent chunk of change if you stick to your guns and stay here for a long time. The question is what will you do AFTER?
Trying to get a job back in your home country will be a bit tough I think. You will still be at entry level teaching ESL in North America because it is kind of a different gig. It requires more responsibility and skills than teaching EFL in Korea IMO and it pays terribly. If you're looking to jump ship to another country like in the ME then ok. Better not have any kids though. |
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Malislamusrex
Joined: 01 Feb 2010
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| Posted: Sun Feb 17, 2013 5:04 pm Post subject: |
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I know how much workers get at SK and Hanjin. Most in their 30's are on around 3 million and working pretty much all day all year. Some are obviously on more but the idea that most workers are getting 4-4.5 mil. Well that isn't true.
You make a good point about why so many Korean women are single. They watch too many soap operas and think all Korean men make 4.4.5 mil. They don't.
| misher wrote: |
| Quote: |
| Honestly, for a family with 2 kids, living in Korea confortably would require a net monthly income of roughly 5-6 million won. This is considering the cost of food, education and other expenses. On such a salary, depending on the housing situation, such a family could save a little bit but nothing to write home about I think. |
Yep, which is what I would define as middle class. Can have 1 maybe 2 kids, maybe get them some opportunities for higher education, small family car etc. In other words, nothing lavish but comfortable and not sweating the bills every month.
Yet studies and some on here claim "middle class" in Korea is 2 million Won a month which is funny considering families with a couple of kids are getting them to university (80% attend uni at ridiculous tuition prices), gap years abroad, and have new Hyundai sonatas. I guess it's all just debt and because no one really has the money for that? Sounds like back home.
I think edwardcatflap said he heard that 4 million won was kind of the "expected" salary that a korean woman thinks of when she choses a guy. I've HEARD similar. Basically inclusive of BONUSES AND EXTRA ALLOWANCES a marriageable middle of the road guy into his 30s (5-7 years of work experience under his belt), should be be close to 4-4.5 million a month with the potential to make more as he ages. Anything under 4 just won't cut it.
Many K girls marry foreign guys that make less than that because foreign guys bring a foreign (basically rich country) passport/English for the future kids to the table as well. Please don't be so naive that Korean women don't factor that into the equation when sizing you up. Korean guys don't have that "extra" so they can't really get away with a capped 2.8 million a month. |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Sun Feb 17, 2013 6:05 pm Post subject: |
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| Malislamusrex wrote: |
I know how much workers get at SK and Hanjin. Most in their 30's are on around 3 million and working pretty much all day all year. Some are obviously on more but the idea that most workers are getting 4-4.5 mil. Well that isn't true.
You make a good point about why so many Korean women are single. They watch too many soap operas and think all Korean men make 4.4.5 mil. They don't.
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quoted for truth. it seems that every korean drama only stars rich people living in these lavish unrealistic houses with rich guys and gals who drive expensive cars and act like spoiled debutantes. most koreans don't make anywhere near 5 mil a month as a few posts going around right now have alluded to. i accidentally watched a scene yesterday where a woman gave another woman a cake and she slapped the cake out of her hands because she had her panties in a wad over something. i mean really, who slaps a cake out of another woman's hands? |
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oppa637
Joined: 05 Dec 2011
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| Posted: Sun Feb 17, 2013 10:42 pm Post subject: |
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I just know in general what Samsung Engineers and Hyundai Engineers make. Starting is 50mil a year (plus bonus each year after the first year) with about 4-5% increase every year.
But these are permanent employees. It does depend on their position and many are contractual so they make less. |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Sun Feb 17, 2013 10:55 pm Post subject: |
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| oppa637 wrote: |
I just know in general what Samsung Engineers and Hyundai Engineers make. Starting is 50mil a year (plus bonus each year after the first year) with about 4-5% increase every year.
But these are permanent employees. It does depend on their position and many are contractual so they make less. |
not only are they permanent employees, but they are engineers for major chaebols. which would be, just assuming, perhaps a couple hundred thousand jobs out of a 49 million-strong population? we're talking about the brightest minds in korea getting some of the most coveted jobs in all the land as well. not nearly close to the status quo, these guys. |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Sun Feb 17, 2013 10:56 pm Post subject: |
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I spend freely on a comfortable existence & theres always money left over at the end of the month.
My income is middling. |
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oppa637
Joined: 05 Dec 2011
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| Posted: Sun Feb 17, 2013 11:27 pm Post subject: |
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| wishfullthinkng wrote: |
| oppa637 wrote: |
I just know in general what Samsung Engineers and Hyundai Engineers make. Starting is 50mil a year (plus bonus each year after the first year) with about 4-5% increase every year.
But these are permanent employees. It does depend on their position and many are contractual so they make less. |
not only are they permanent employees, but they are engineers for major chaebols. which would be, just assuming, perhaps a couple hundred thousand jobs out of a 49 million-strong population? we're talking about the brightest minds in korea getting some of the most coveted jobs in all the land as well. not nearly close to the status quo, these guys. |
Yes, and I was just giving you guys some numbers to work. Hopefully gives you a baseline to work with. Just about all positions in my company though start around the same salary point for permanent employees. |
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PREEST
Joined: 20 Jan 2013
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| Posted: Mon Feb 18, 2013 3:09 am Post subject: |
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| PatrickGHBusan wrote: |
| PREEST wrote: |
| Malislamusrex wrote: |
I agree with this. If you are single or just married you can save a lot because there is little tax and you could make twice the income of a family if you have got the right visa. If you have kids, all your extra income will go on kids because there are no public services.
| Captain Corea wrote: |
How many in this thread have a family here? Own a house in the burbs? Are paying for schooling?
I have to say, living in my little officeTell as a single guy, Korea seemed much cheaper. But actually living here long term, and not feeding my family Kimbapjungguk every day, I don't really feel that Korea is all that cheap.
In fact, the only things I'd confidently say are cheaper are Internet and Public Transit. |
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Yes but who would consider working in Korea as an ESL teacher when you have a wife and kids? Sure, if you have a Korean wife it might be in your interests to stay in Korea for a while, but when Kids come into the picture it makes sense to move on.
I sure as hell know my GF and I will not be raising our children in Korea under their hellish and inhumane education system. |
First of all, many people choose to stay in Korea after they have kids (mixed couples that is) and do well.
Secondly, ESL is not limited to Hakwon entry-level jobs for 2.1.
As for your qualification of the education system, its amusing in its caricatural exageration. |
No need for the condescending tone, we're all adults here.
The Korean education system is cruel. The pressure on young people to succeed, to study and achieve the best grades and to go to the best schools is immense. To study day and night, to have minimal chances to just be a kid. It is no secret that Korean kids are studied into the ground. I don't want that for my children. There is more to life than 'studying all day and night, getting the best grades, going to Seoul University and becoming a diplomat' I want my children to also have opportunity to express creative ability and to follow their own passions and interests.
I really do feel for some of these young people. Up at 6.00 am, school and hagwons all day, home after 10.00 pm, homework and more study (enforced by parents) and finally sleep.
Don't patronize me. Cheers. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Mon Feb 18, 2013 5:38 am Post subject: |
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| I did not patronize you. I simply pointed out your previous post was reductionist and left out the wider scope of things. |
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