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jjajangmyun
Joined: 31 Aug 2011
Location: way down south!
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 Posted: Fri May 10, 2013 8:30 am Post subject: |
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| atwood wrote: |
No free cars. Renault bought Samsung Cars when it went bankrupt. They were actually forcing Samsung employees to buy cars to keep the company afloat before the government shut them down.
It's illegal for companies to provide employees with apartments.
They may get free tickets if the concert's at Everland. Some do get company credit cards that they can use at restaurants, but you've usually got to be in sales and thus need to entertain clients.
I bet the girl got a scholarship from Samsung. Plus her KSAT scores had to be high enough for admittance to a SKY university.
Median salaries would give a better picture than average ones. |
the girl in question would probably have gone to SKY based on grades alone. Also, Samsung was only going to pay if she went to 1 particular school in SKY, not sure which one. Whichever one has lots of Samsung alumni and graduates.
The free tickets were VIP tickets for Britney Spears and Maroon 5 concerts. Their retail value would put them at over 200,000W per. (EDIT: ok, you did mention IF at Everland, which i failed to see the first time around. Maybe those concerts were at Everland...entirely possible.)
Is it really illegal to provide apartments for employees? Why are there entire buildings that house entirely Samsung workers, or entirely LG workers?
HMG is known for giving free cars to their managers and executives. My uncle was one such recipient. This was in the mid-90's, so entirely possible that they have discontinued this. Maybe instead of free cars now, they give discounts?
Also, I don't have data on median salaries, sry. I know the averages are often skewed by the extremely wealthy guys on top. But then you consider that the average pay differential between executives and employees is between 13 and 28x, which means the skew isn't too bad.
If, after 10 years at Samsung, you're making around 80mil won, that can't be TOO bad, right? More is obviously better, but at roughly 7 mil/month, you're probably doing alright just as long as you don't have a wife that eats through your money buying designer shit and expensive lattes or have too many kids. Plus, maybe there are stock options and other incentives involved? |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Fri May 10, 2013 8:57 am Post subject: |
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| jjajangmyun wrote: |
| If, after 10 years at Samsung, you're making around 80mil won, that can't be TOO bad, right? |
Dunno, I'd assume I picked the wrong career if I wasn't making double that by year 10.
I'd assume a professional in KR at a major company would be making $40M newbie, $80M at 5yrs, and $120M at 10yrs. |
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atwood
Joined: 26 Dec 2009
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| Posted: Fri May 10, 2013 1:15 pm Post subject: |
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| jjajangmyun wrote: |
| atwood wrote: |
No free cars. Renault bought Samsung Cars when it went bankrupt. They were actually forcing Samsung employees to buy cars to keep the company afloat before the government shut them down.
It's illegal for companies to provide employees with apartments.
They may get free tickets if the concert's at Everland. Some do get company credit cards that they can use at restaurants, but you've usually got to be in sales and thus need to entertain clients.
I bet the girl got a scholarship from Samsung. Plus her KSAT scores had to be high enough for admittance to a SKY university.
Median salaries would give a better picture than average ones. |
the girl in question would probably have gone to SKY based on grades alone. Also, Samsung was only going to pay if she went to 1 particular school in SKY, not sure which one. Whichever one has lots of Samsung alumni and graduates.
The free tickets were VIP tickets for Britney Spears and Maroon 5 concerts. Their retail value would put them at over 200,000W per. (EDIT: ok, you did mention IF at Everland, which i failed to see the first time around. Maybe those concerts were at Everland...entirely possible.)
Is it really illegal to provide apartments for employees? Why are there entire buildings that house entirely Samsung workers, or entirely LG workers?
HMG is known for giving free cars to their managers and executives. My uncle was one such recipient. This was in the mid-90's, so entirely possible that they have discontinued this. Maybe instead of free cars now, they give discounts?
Also, I don't have data on median salaries, sry. I know the averages are often skewed by the extremely wealthy guys on top. But then you consider that the average pay differential between executives and employees is between 13 and 28x, which means the skew isn't too bad.
If, after 10 years at Samsung, you're making around 80mil won, that can't be TOO bad, right? More is obviously better, but at roughly 7 mil/month, you're probably doing alright just as long as you don't have a wife that eats through your money buying designer shit and expensive lattes or have too many kids. Plus, maybe there are stock options and other incentives involved? |
They're doing well no doubt, but they work for it. The big money comes when you're high enough up the food chain to get big chunk of profit sharing, if you're at a Samsung company that is having a good year.
Samsung has nothing to do with cars. They sold out to Renault. There were never any free cars.
Yes, it is illegal for them to provide employees with apartments. You're talking about the dorms that factory workers and sometimes new employees live in. They're dormitories, not apartments.
Samsung traditionally favored graduates of Yonsei and KU and when they started hiring women management, Ewha. |
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oppa637
Joined: 05 Dec 2011
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| Posted: Sun May 12, 2013 4:12 pm Post subject: |
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| cabeza wrote: |
| oppa637 wrote: |
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. |
How many hours per week on average? If you don't mind me asking. |
The stated time is 8-5:30pm. Obviously, this does not happen. At Samsung, they regularly worked till 10-11pm. At Hyundai, 9-10pm. But by work, they do take dinner and sometimes hit the gym during this time or other stuff. They also get small overtime pay. |
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oppa637
Joined: 05 Dec 2011
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| Posted: Sun May 12, 2013 4:15 pm Post subject: |
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| Weigookin74 wrote: |
| oppa637 wrote: |
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. |
So, basically the pay and bonus works out to 4 million won a month give or take? Not that impressive for an ESLer in the 3 point something range, which many are if including housing and way more free time. If there are extra perks, so be it. Many Koreans brag that Samsung pays for your kids college and schooling, etc. But, I thought that was malarky. |
One of the benefits is they do help pay for schooling. It is definitely a huge perk I'd say but it depends on how long you've been working at the company and your position. |
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oppa637
Joined: 05 Dec 2011
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| Posted: Sun May 12, 2013 4:23 pm Post subject: |
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| KimchiNinja wrote: |
| jjajangmyun wrote: |
| If, after 10 years at Samsung, you're making around 80mil won, that can't be TOO bad, right? |
Dunno, I'd assume I picked the wrong career if I wasn't making double that by year 10.
I'd assume a professional in KR at a major company would be making $40M newbie, $80M at 5yrs, and $120M at 10yrs. |
So You are expecting about a 15% salary increase every year? I'd like to know which industry is giving that. Typical Salary increase even at Hyundai is about 4-5% each year. This is for permanent employees. There are many other perks though like they randomly give bonuses in the amount of 300k - 1.2 mil for good performance. Or send me a birthday cake on my birthday. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Sun May 12, 2013 5:22 pm Post subject: |
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| oppa637 wrote: |
| KimchiNinja wrote: |
| jjajangmyun wrote: |
| If, after 10 years at Samsung, you're making around 80mil won, that can't be TOO bad, right? |
Dunno, I'd assume I picked the wrong career if I wasn't making double that by year 10.
I'd assume a professional in KR at a major company would be making $40M newbie, $80M at 5yrs, and $120M at 10yrs. |
So You are expecting about a 15% salary increase every year? I'd like to know which industry is giving that. Typical Salary increase even at Hyundai is about 4-5% each year. This is for permanent employees. There are many other perks though like they randomly give bonuses in the amount of 300k - 1.2 mil for good performance. Or send me a birthday cake on my birthday. |
I'd love to know what industry too? I come from an engineering background and none of my classmates (the ones still in the industry) are making double 10 years later. Most started making in that 60k range. A lot of them are making close to 100k a year and a couple are making over it. I graduated 12 years ago btw... |
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peterpan1110
Joined: 06 Apr 2011
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| Posted: Sun May 12, 2013 7:06 pm Post subject: |
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| atwood wrote: |
| jjajangmyun wrote: |
| atwood wrote: |
No free cars. Renault bought Samsung Cars when it went bankrupt. They were actually forcing Samsung employees to buy cars to keep the company afloat before the government shut them down.
It's illegal for companies to provide employees with apartments.
They may get free tickets if the concert's at Everland. Some do get company credit cards that they can use at restaurants, but you've usually got to be in sales and thus need to entertain clients.
I bet the girl got a scholarship from Samsung. Plus her KSAT scores had to be high enough for admittance to a SKY university.
Median salaries would give a better picture than average ones. |
the girl in question would probably have gone to SKY based on grades alone. Also, Samsung was only going to pay if she went to 1 particular school in SKY, not sure which one. Whichever one has lots of Samsung alumni and graduates.
The free tickets were VIP tickets for Britney Spears and Maroon 5 concerts. Their retail value would put them at over 200,000W per. (EDIT: ok, you did mention IF at Everland, which i failed to see the first time around. Maybe those concerts were at Everland...entirely possible.)
Is it really illegal to provide apartments for employees? Why are there entire buildings that house entirely Samsung workers, or entirely LG workers?
HMG is known for giving free cars to their managers and executives. My uncle was one such recipient. This was in the mid-90's, so entirely possible that they have discontinued this. Maybe instead of free cars now, they give discounts?
Also, I don't have data on median salaries, sry. I know the averages are often skewed by the extremely wealthy guys on top. But then you consider that the average pay differential between executives and employees is between 13 and 28x, which means the skew isn't too bad.
If, after 10 years at Samsung, you're making around 80mil won, that can't be TOO bad, right? More is obviously better, but at roughly 7 mil/month, you're probably doing alright just as long as you don't have a wife that eats through your money buying designer shit and expensive lattes or have too many kids. Plus, maybe there are stock options and other incentives involved? |
They're doing well no doubt, but they work for it. The big money comes when you're high enough up the food chain to get big chunk of profit sharing, if you're at a Samsung company that is having a good year.
Samsung has nothing to do with cars. They sold out to Renault. There were never any free cars.
Yes, it is illegal for them to provide employees with apartments. You're talking about the dorms that factory workers and sometimes new employees live in. They're dormitories, not apartments.
Samsung traditionally favored graduates of Yonsei and KU and when they started hiring women management, Ewha. |
what's so "illegal" about free housing? i find this absurd. |
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IlIlNine
Joined: 15 Jun 2005
Location: Gunpo, Gyonggi, SoKo
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| Posted: Sun May 12, 2013 8:27 pm Post subject: |
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| oppa637 wrote: |
| KimchiNinja wrote: |
| jjajangmyun wrote: |
| If, after 10 years at Samsung, you're making around 80mil won, that can't be TOO bad, right? |
Dunno, I'd assume I picked the wrong career if I wasn't making double that by year 10.
I'd assume a professional in KR at a major company would be making $40M newbie, $80M at 5yrs, and $120M at 10yrs. |
So You are expecting about a 15% salary increase every year? I'd like to know which industry is giving that. Typical Salary increase even at Hyundai is about 4-5% each year. This is for permanent employees. There are many other perks though like they randomly give bonuses in the amount of 300k - 1.2 mil for good performance. Or send me a birthday cake on my birthday. |
Appreciate your input - and it's nice to meet a fellow company worker on this discussion board.
My experience is: My salary has risen on average 10% a year over 4 years. My bonuses have averaged 6m/year (roughly) and I participated in the company's IPO which netted me about 60 million.
I am now leaving for a better position.
I do agree that KimchiNinja is optimistic with regards to salary increases - especially if you stay at the same company, with some networking, self-development, and drive, achieving pretty significant pay increases (far above 4-5%) is definitely possible. |
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ATM SPIDERTAO
Joined: 05 Jul 2009
Location: seoul, south korea
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| Posted: Mon May 13, 2013 3:20 pm Post subject: |
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i work for hyundai motors which is #1 in terms of salary for fresh out of college workers with no experience and specialized skills. if you're something like a lawyer or something, i believe it'll be much higher but even if you have a bachelor's in engineering or something, they don't really recognize it as anything.
having a masters gives you recognition for two years of "professional experience" and a Ph.D gives you 4 years here.
last year, i made 61 million won including bonuses. regular hours are 8-6pm but there were some continuous days where i had to work until 11pm and even 2am to finish a big program the next day.
i went from teaching english at a public elementary school, making roughly 38 million including the housing allowance to making 61 million but working about 3 times as much.
all in all, it's totally not worth it but after getting this job, i started to look down on all you english teachers HAHAHA
but if i could switch, i would!!! best job in the world =) seriously forrealz
anyway, the pay works like this. 3 mil a month plus a 15 mil won bonus in autumn. and a 5 mil bonus in december. basically, for 90% of the year, you're making the same amount of money as an ESL teacher if you factor in you gotta pay for your own housing and you're working 10-12 hour days regularly.
they also treat you WORSE than you get treated as a teacher. BY FAR. it all goes down to the values (cultural) of koreans vs westerners (I'm canadian). ALL the values of Koreans are traits that are looked down upon in western cultures and ALL the values of western cultures for individual traits are looked down upon here in Korea.
like literally everything
it's horrendous
anyway Samsung should be making about 50 mil a month for unskilled university grads. but since their company brand name is suuuuper high, most university graduates apply to Samsung, hyundai, LG, and every other major chaebol when they finish university so they literally get the cream of the crop.
bankers get the best salaries in consideration to working hours though, they get 3 million a month and work 8 hour days (almost unheard of in korea). teachers make 1.6 mil starting off and get a 100,000won raise per year per paycheck. your 40 year old coteacher makes about 3.3 mil a month. vice principals make about 50-70 mil a year and your principal makes about 100 mil a year |
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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: Mon May 13, 2013 3:54 pm Post subject: |
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| Interesting read ATM Spidertao. Thanks for posting. |
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oppa637
Joined: 05 Dec 2011
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| Posted: Mon May 13, 2013 4:54 pm Post subject: |
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| ATM SPIDERTAO wrote: |
i work for hyundai motors which is #1 in terms of salary for fresh out of college workers with no experience and specialized skills. if you're something like a lawyer or something, i believe it'll be much higher but even if you have a bachelor's in engineering or something, they don't really recognize it as anything.
having a masters gives you recognition for two years of "professional experience" and a Ph.D gives you 4 years here.
last year, i made 61 million won including bonuses. regular hours are 8-6pm but there were some continuous days where i had to work until 11pm and even 2am to finish a big program the next day.
i went from teaching english at a public elementary school, making roughly 38 million including the housing allowance to making 61 million but working about 3 times as much.
all in all, it's totally not worth it but after getting this job, i started to look down on all you english teachers HAHAHA
but if i could switch, i would!!! best job in the world =) seriously forrealz
anyway, the pay works like this. 3 mil a month plus a 15 mil won bonus in autumn. and a 5 mil bonus in december. basically, for 90% of the year, you're making the same amount of money as an ESL teacher if you factor in you gotta pay for your own housing and you're working 10-12 hour days regularly.
they also treat you WORSE than you get treated as a teacher. BY FAR. it all goes down to the values (cultural) of koreans vs westerners (I'm canadian). ALL the values of Koreans are traits that are looked down upon in western cultures and ALL the values of western cultures for individual traits are looked down upon here in Korea.
like literally everything
it's horrendous
anyway Samsung should be making about 50 mil a month for unskilled university grads. but since their company brand name is suuuuper high, most university graduates apply to Samsung, hyundai, LG, and every other major chaebol when they finish university so they literally get the cream of the crop.
bankers get the best salaries in consideration to working hours though, they get 3 million a month and work 8 hour days (almost unheard of in korea). teachers make 1.6 mil starting off and get a 100,000won raise per year per paycheck. your 40 year old coteacher makes about 3.3 mil a month. vice principals make about 50-70 mil a year and your principal makes about 100 mil a year |
I'm a bit curious about your position at Hyundai Motors and how long you've worked there. If they considered your previous experience.
I work at Hyundai Engineering and they do treat engineering majors better here. But obviously, the work here requires engineers so it may be a bit different from the motors.
Hours are suppose to be from 8-5:30pm. I used to work late like my fellow co workers but after 3 months. Got burnt out and now work strictly those hours.
My pay is a bit bizarre in my opinion but basically my salary is divided by 16. On months Jan, June, Sept, and Dec., I get "double" my normal months salary. They call this bonus but as I said before, its just my salary divided by 16 where the "extra" 4 payments are given on those months. In April, we get a performance bonus that is about 15-20% or our salary depending on the companies previous years performance.
In my case, I am supplied housing but that is because I am an expat and I negotiated these things before joining the company.
I do enjoy the health benefits as the company covers anything that exceeds 5,000won. At first I thought this was a joke but everytime I go to the doctor, it cost me 4,500 won T_T I asked them to charge me a little more so I can get reimbursed but they can't. |
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IlIlNine
Joined: 15 Jun 2005
Location: Gunpo, Gyonggi, SoKo
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| Posted: Mon May 13, 2013 6:00 pm Post subject: |
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| ATM SPIDERTAO wrote: |
they also treat you WORSE than you get treated as a teacher. BY FAR. it all goes down to the values (cultural) of koreans vs westerners (I'm canadian). ALL the values of Koreans are traits that are looked down upon in western cultures and ALL the values of western cultures for individual traits are looked down upon here in Korea.
like literally everything
it's horrendous
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I'm at SK, working as a software developer.
Hyundai is pretty notorious for being a very conservative place to work. I experience a lot of frustration with company business process, risk management, and other aspects - but I'm never looked down on and I am never treated badly. In fact, it's quite the opposite. I have a big personal network including a lot of close friends that happen to be my co-workers spanning up and down the corporate ladder.
If you find that aspect horrendous, then I would consider switching companies.
Just curious: how's your Korean? how long have you been there? |
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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: Mon May 13, 2013 7:54 pm Post subject: |
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| ATM SPIDERTAO wrote: |
| teachers make 1.6 mil starting off and get a 100,000won raise per year per paycheck. your 40 year old coteacher makes about 3.3 mil a month. vice principals make about 50-70 mil a year and your principal makes about 100 mil a year |
The starting wage for new Korean teachers in my province was 1.9 in 2006, and I believe now it's around 2.3. This does not include their bonuses which amount to 4-8 million a year. S--t, minimum wage in Korea 1.1 million a month now.
| Quote: |
| At the high end of the scale, in Korea, the average teacher at this level makes a full 221 percent of the country�s G.D.P. per capita. |
Korean teachers are paid the best in world compare to G.D.P. per capita. They are not making 1.6 to start and 3.3 million a month at 40. Their average wage was 55,000 USD in 2007.
http://economix.blogs.nytimes.com/2009/09/09/teacher-pay-around-the-world/
Another interesting fact; Korean teachers teach 550 hours a year on average and American teachers teach 1080. That's right, on average American teachers teach double the amount classes as Korean teachers. I certainly do here. |
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