Korean Job Discussion Forums

[IlIlNine]

Sometimes I wish that this forum had more Korean speakers.

It's just that people here argue in circles about what's pretty clearly reported on the Internet (albeit in Korean).

To compare:

Your average English teacher making 2.4 per month living in provided 700,000 won housing + airfare would be making, let's round up to 39,000,000 per year. This is probably on the high end to start - but let's stick with it. The biggest problem with ESL is that salaries are stagnant - the wage has been the same (dropping, if accounting for inflation) for 12 years or so, and it doesn't look like the trend will reverse anytime soon.

Here is a list of starting salaries for large companies. As in - fresh out of college new employees.

http://kakaru12345.tistory.com/268

Note that these salaries are exclusive of incentive bonus. The top company, Hyundai Motors, pays out "6,040 만원" or just over 60,000,000won.

At the same company, a middle manager (following a 'regular' career track, 34-38 year old male) can expect to make something around 80,000,000 - again, without taking into account performance bonuses or incentives (which can add another 20 mil+ to that)

Incentives can be nice:
- Cheap/free loans for housing
- Free university tuition for children
- Wedding incentives
- Shopping discounts
- etc (depends on the company)

Yes, depending on the company, it may involve weekend/late work - but the situation is improving. Flexible time is becoming more common, drinking sessions are being reduced, and overtime is starting to be paid. It also depends on the department (ie. if you're in sales, you will be expected to drink with clients). Employment equality with women is being pursued.

Other benefits? More stability. Career & skill development. A path back home.

English teachers benefit from more free time - and can make up some of the difference with private lessons, and generally live a stress-free life but if it really wasn't worth getting into a large company, so many people wouldn't be trying.

[IlIlNine]

[cabeza]

I don't think anyone was seriously saying that an ESL teacher made more than an employee at any of the big companies.

[oppa637]

Wow ...This is not true at all.

I've worked at Samsung in the engineering division and now work for Hyundai.

For the reference above, its somewhat right but they are not getting 40-60 mil bonuses.

Salary ranges from 35-45mil for entry level. After first year, they can get a year bonus that is about 15-17% of their salary.

As for the perks mentioned above...I'm sure you might get those if you are the son/daughter of the ceo but most employees are not.

[cabeza]

[The Cosmic Hum]

[bobbyhanlon]

there's also a samsung intake program for graduates of fancy (ie. american, plus a couple of token european) mba schools. koreans are ineligible for this, its purely for the 'we are so international' window-dressing effect. anyway they get paid something like 130 million won per year, plus housing and bonuses. all of which is obviously fantastic. however, when you meet these guys, none of them are very happy. i've heard a few of them complain about being spied on, even.

[IlIlNine]

[actionjackson]

[Weigookin74]

[Weigookin74]

[big_fella1]

[IlIlNine]

[jvalmer]

Not everyone is paying 900 billion-won for a home. Also, Gyeonggi province is 'slightly' cheaper. Middle to well-off families save huge amounts of cash/assets to hand off to their kids. Many of these old people you see aggressively saved as much cash and assets they could. And more and more, these days, the wife is earning something too. Seoul maybe had a population of just under 2 million before the Korean war. Most of the people living in Seoul roots go down only one, or two, generations. And many have family land, or other types of assets, somewhere in the country that they can sell for a small, but decent, amount of cash.

So that mentioned 4 million is probably 6 million a month for a family of 2-4. However, I don't see the current crop of young people saving anything, so future generations are probably financially in trouble.

However, if you're from a poor family, life does suck here and anywhere else.

[atwood]