|
Korean Job Discussion Forums "The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
View previous topic :: View next topic |
Author |
Message |
Otus
Joined: 09 Feb 2006
|
Posted: Sun May 26, 2013 3:35 pm Post subject: |
|
|
Quote: |
PatrickGHBusan wrote:
If you think the average FT 10 years ago was rich compared to the average local, then perhaps you need to re-visit the information you base this on.
World Traveler wrote:
http://research.stlouisfed.org/fred2/series/KORRGDPC
They were making (on average) significantly more than the locals. Now, this is no longer the case. |
How on earth could those figures be correct? I had a relatively high paying job at a hagwon in 1996. I made about the same as what some of my adult students did in good company jobs - but barely - with a ton of overtime.
10 years ago? No way - a taxi driver could make more than a non-tenured uni position for a foreigner. (I've worked uni for approx. 13 years). Talking about legal, tax deductable income of course. 10 years ago F2 was non existent for males.
(You'd have to go back almost 30 years or more - when the US soldiers did at one time make more than the average salary man ... but that was a long time ago).
Anyway - this is getting a little off topic. |
|
Back to top |
|
 |
PatrickGHBusan
Joined: 24 Jun 2008 Location: Busan (1997-2008) Canada 2008 -
|
Posted: Mon May 27, 2013 3:37 am Post subject: |
|
|
World Traveler wrote: |
PatrickGHBusan wrote: |
If you think the average FT 10 years ago was rich compared to the average local, then perhaps you need to re-visit the information you base this on. |
http://research.stlouisfed.org/fred2/series/KORRGDPC
They were making (on average) significantly more than the locals. Now, this is no longer the case. |
That medium income works out to about 22M Won per year or if you will, 1.8M per month for that avg Korean worker. Back then (2003 ish) the avg wage for a FT was 2.1.
So a FT made marginally more than some Koreans but certainlin was not making more than the locals in general. Furthermore, FTs certainly were not considered "rich" by locals nor was their job or income considered a source of attraction...heck you are talking about a FT on a one-year visa and contract that typically leaves after a year or two. That is not exactly top shelf spouse material. |
|
Back to top |
|
 |
maximmm
Joined: 01 Feb 2008
|
Posted: Mon May 27, 2013 6:11 am Post subject: |
|
|
PatrickGHBusan wrote: |
World Traveler wrote: |
PatrickGHBusan wrote: |
If you think the average FT 10 years ago was rich compared to the average local, then perhaps you need to re-visit the information you base this on. |
http://research.stlouisfed.org/fred2/series/KORRGDPC
They were making (on average) significantly more than the locals. Now, this is no longer the case. |
That medium income works out to about 22M Won per year or if you will, 1.8M per month for that avg Korean worker. Back then (2003 ish) the avg wage for a FT was 2.1.
So a FT made marginally more than some Koreans but certainlin was not making more than the locals in general. Furthermore, FTs certainly were not considered "rich" by locals nor was their job or income considered a source of attraction...heck you are talking about a FT on a one-year visa and contract that typically leaves after a year or two. That is not exactly top shelf spouse material. |
Although this is a major thread derailment, but I should add that we do need to take into account apartment costs, airfare, etc into the final equation.
Of course, that also means that we should take into consideration the Korean employee bonuses (on average - if there is such a thing). |
|
Back to top |
|
 |
PatrickGHBusan
Joined: 24 Jun 2008 Location: Busan (1997-2008) Canada 2008 -
|
Posted: Mon May 27, 2013 11:53 am Post subject: |
|
|
maximmm wrote: |
PatrickGHBusan wrote: |
World Traveler wrote: |
PatrickGHBusan wrote: |
If you think the average FT 10 years ago was rich compared to the average local, then perhaps you need to re-visit the information you base this on. |
http://research.stlouisfed.org/fred2/series/KORRGDPC
They were making (on average) significantly more than the locals. Now, this is no longer the case. |
That medium income works out to about 22M Won per year or if you will, 1.8M per month for that avg Korean worker. Back then (2003 ish) the avg wage for a FT was 2.1.
So a FT made marginally more than some Koreans but certainlin was not making more than the locals in general. Furthermore, FTs certainly were not considered "rich" by locals nor was their job or income considered a source of attraction...heck you are talking about a FT on a one-year visa and contract that typically leaves after a year or two. That is not exactly top shelf spouse material. |
Although this is a major thread derailment, but I should add that we do need to take into account apartment costs, airfare, etc into the final equation.
Of course, that also means that we should take into consideration the Korean employee bonuses (on average - if there is such a thing). |
Quite true and the avg Korean back then would buy their apt outright and have no payments. This was not some school provided officetel either. |
|
Back to top |
|
 |
World Traveler
Joined: 29 May 2009
|
Posted: Fri Jun 07, 2013 3:07 pm Post subject: |
|
|
PatrickGHBusan wrote: |
World Traveler wrote: |
PatrickGHBusan wrote: |
If you think the average FT 10 years ago was rich compared to the average local, then perhaps you need to re-visit the information you base this on. |
http://research.stlouisfed.org/fred2/series/KORRGDPC
They were making (on average) significantly more than the locals. Now, this is no longer the case. |
That medium income works out to about 22M Won per year or if you will, 1.8M per month for that avg Korean worker. Back then (2003 ish) the avg wage for a FT was 2.1.
So a FT made marginally more than some Koreans but certainlin was not making more than the locals in general. Furthermore, FTs certainly were not considered "rich" by locals nor was their job or income considered a source of attraction...heck you are talking about a FT on a one-year visa and contract that typically leaves after a year or two. That is not exactly top shelf spouse material. |
OK, let me put it this way: incomes of Koreans have been rising...but the incomes of NETs have not. If the incomes of NETs was not that much higher than that of the typical Korean, that is even more true today. And there are many more factors than this (such as the abortion of females, leading to a gender imbalance).
sirius black wrote: |
I think the Korean woman has gotten smarter about teachers. They know how much we make and I suspect the guys who complaiin about them being materialistic are having to do the same thngs Korean men have to do. Being white and speaking English isn't gonna cut it much anymore, especially in the larger cities.
Korean women are now aware of that 2.2 salary you make at the hogwon. They aren't impressed. |
sirius black wrote: |
Korean women are like any other woman. They want security, financial, emotional and otherwise. An American women isn't putting up with a 2 mil a month salary and a Korean women isn't. |
sirius black wrote: |
I think the Korean woman of today isn't just interested in the novelty of us (white and english speaking) anymore because there are plenty of blogs that have told them what we make and how the majority of us who are LBHs are perceived back home, they also want to see something substantive to make sure you're not a loser. Great for them or any woman. They should.
Also, some of the Korean women that go almost exclusively for foreign men are often the ones that Korean men don't want for some reason. Personality, age, looks or a combination of the three. |
|
|
Back to top |
|
 |
PatrickGHBusan
Joined: 24 Jun 2008 Location: Busan (1997-2008) Canada 2008 -
|
Posted: Sat Jun 08, 2013 3:49 am Post subject: |
|
|
The abortion of females? lol
Ok then....
By the way, if your argument is financial (ex: K-woman wanting the mate that makes more or has more earning potential) then Fts lose out big time and always would have. Add to that the fact that most Korean woman would not choose to move abroad (much like people back home for the most part would not choose to move abroad) and FTs become even less interesting as relationship options because they hold short term jobs on a short term visas and by their very nature are in Korea for a very short time.
As for FT wages they stagnated after a steep rise and now have effectively gone down in relative terms in this employers market which is sadly completely expected and not surprising at all. |
|
Back to top |
|
 |
World Traveler
Joined: 29 May 2009
|
Posted: Sat Jun 08, 2013 4:21 am Post subject: |
|
|
How is female infanticide a non-issue? At one point South Korea had the greatest gender imbalance of births in the entire world. Now those babies have grown up and are adults.
ESL in Korea did not begin when you arrived in 1997/1998 (the time of the crash). Prior to that ESL wages were very high, in fact, much better than they are today.
And the media too is responsible for making Westerners out to be criminals/child molesters and/or "losers back home". All of those reasons and more (for example, gold diggers of the English language now have other means to acquire it) are why in 2013 in Korea, a Western man can do better in other Asian countries dating wise. |
|
Back to top |
|
 |
atwood
Joined: 26 Dec 2009
|
Posted: Sat Jun 08, 2013 7:35 pm Post subject: |
|
|
PatrickGHBusan wrote: |
World Traveler wrote: |
PatrickGHBusan wrote: |
If you think the average FT 10 years ago was rich compared to the average local, then perhaps you need to re-visit the information you base this on. |
http://research.stlouisfed.org/fred2/series/KORRGDPC
They were making (on average) significantly more than the locals. Now, this is no longer the case. |
That medium income works out to about 22M Won per year or if you will, 1.8M per month for that avg Korean worker. Back then (2003 ish) the avg wage for a FT was 2.1.
So a FT made marginally more than some Koreans but certainlin was not making more than the locals in general. Furthermore, FTs certainly were not considered "rich" by locals nor was their job or income considered a source of attraction...heck you are talking about a FT on a one-year visa and contract that typically leaves after a year or two. That is not exactly top shelf spouse material. |
I had a student who was a director at Samsung Display Devices (obviously no more) who would, when complaining about how much he had to spend on his children's education, tell me I made more than he did.
So in some ways FTs were considered "rich," but I'd agree that didn't make them attractive to most Korean women since most Korean women wouldn't date a foreigner under any circumstances at the time. |
|
Back to top |
|
 |
alongway
Joined: 02 Jan 2012
|
Posted: Sat Jun 08, 2013 8:36 pm Post subject: |
|
|
On an hourly basis, some foreign teachers, especially those on an F visa can make more than your average Korean, however, most don't work the amount of hours Koreans do. You can go out and find a business class 5 mornings a week for 50-60k/hour. But it's only 5 hours a week
You could find kindergartens for 40-50k/hour, but you'd only do 15-20 hours of those a week
or you could work at a hagwon for 2.3-2.5/month.
I think a hagwon would put you around the average wage of a middle-class Korean. There are plenty of jobs, some that you wouldn't expect like nurses, who make much less than that.
You can't compare your salary with those working for the best companies in town (samsung/lg/etc) and say you're making way below average.
Let's face it, a single teacher who doesn't burn their money can save a decent amount of cash over a one year period. Maybe 12-13million. Maybe more if they really budget their money.
I'd say that's decent compensation and probably better than a lot of Koreans who are using the same wage to pay for their own housing, and a kid or two on top of that.
an F visa who gets out there and hustles some gigs without kids, can probably do quite well and really put the money away. They would be doing much better than your average Korean. They could probably make 4 million a month with a medium schedule of a daily business class, and something like a full load of kindergartens. With no kids, and a spouse who is working, they're doing very well as English teachers.
On the other hand, if they're an F-visa, working at hagwon rates, and they've got a kid or two, they're going to be struggling unless they live outside the big city or the spouse has a really good job.
I think that English teachers can still do quite well for the qualifications, and workload required of them, as long as they're not incredibly lazy. |
|
Back to top |
|
 |
World Traveler
Joined: 29 May 2009
|
Posted: Sun Jun 09, 2013 4:18 am Post subject: |
|
|
Alongway, you have the F visa now? (I thought I read somewhere you did.) If so, congratulations. Straightaway, the F visa can lead to decent money? How much networking does it take to build your way up? I ask because I saw this and was surprised:
FDNY wrote: |
If you can get an F-2, F-5 or F-7, then your income should triple or quadruple quite easily. |
|
|
Back to top |
|
 |
alongway
Joined: 02 Jan 2012
|
Posted: Sun Jun 09, 2013 4:38 am Post subject: |
|
|
World Traveler wrote: |
Alongway, you have the F visa now? (I thought I read somewhere you did.) If so, congratulations. Straightaway, the F visa can lead to decent money? How much networking does it take to build your way up? I ask because I saw this and was surprised:
FDNY wrote: |
If you can get an F-2, F-5 or F-7, then your income should triple or quadruple quite easily. |
|
straight away..no..
triple or quadruple your income? ..no. Not unless you're moving into something unrelated at a very high level for some inexplicable reason.
If we assume an english teacher is making 2.3-2.5 and they triple or quadruple their income that's 6.9-10million a month. I know one guy who claimed to be making 10..he owned a hagwon, did business classes and other day classes during the day, and some other stuff. Even 7 is really pushing it, that's 7 hours a day, paid at 50k/hour. That's a heck of a schedule if you're putting it together piece by piece.
I think that if you were focused, and worked your butt off, you could possibly double your income in the first year. I don't think a morning business (1 million), 15-20hr kindy (2.5-3.5 but big unpaid vacations), mediocre after school (say 1 or 1.2 for a couple hours a day) would be out of reach for a fresh F visa holder. As an F visa holder, you get out of it what you put into it.
If you're someone who can work their butt off day in and day out 12+ hours a day, you can possibly put together a huge salary after some networking, hustling, and luck on getting jobs close enough together.
You might be able to run yourself ragged and make 8 million a month..but if you can do that for a year with a spouse who is working and focused like you, you could probably bank a nice deposit for a house after a year if you're young and looking longterm. |
|
Back to top |
|
 |
wooden nickels
Joined: 23 May 2010
|
Posted: Sun Jun 09, 2013 5:48 am Post subject: |
|
|
alongway wrote: |
World Traveler wrote: |
Alongway, you have the F visa now? (I thought I read somewhere you did.) If so, congratulations. Straightaway, the F visa can lead to decent money? How much networking does it take to build your way up? I ask because I saw this and was surprised:
FDNY wrote: |
If you can get an F-2, F-5 or F-7, then your income should triple or quadruple quite easily. |
|
straight away..no..
triple or quadruple your income? ..no. Not unless you're moving into something unrelated at a very high level for some inexplicable reason.
If we assume an english teacher is making 2.3-2.5 and they triple or quadruple their income that's 6.9-10million a month. I know one guy who claimed to be making 10..he owned a hagwon, did business classes and other day classes during the day, and some other stuff. Even 7 is really pushing it, that's 7 hours a day, paid at 50k/hour. That's a heck of a schedule if you're putting it together piece by piece.
I think that if you were focused, and worked your butt off, you could possibly double your income in the first year. I don't think a morning business (1 million), 15-20hr kindy (2.5-3.5 but big unpaid vacations), mediocre after school (say 1 or 1.2 for a couple hours a day) would be out of reach for a fresh F visa holder. As an F visa holder, you get out of it what you put into it.
If you're someone who can work their butt off day in and day out 12+ hours a day, you can possibly put together a huge salary after some networking, hustling, and luck on getting jobs close enough together.
You might be able to run yourself ragged and make 8 million a month..but if you can do that for a year with a spouse who is working and focused like you, you could probably bank a nice deposit for a house after a year if you're young and looking longterm. |
It can be done! |
|
Back to top |
|
 |
World Traveler
Joined: 29 May 2009
|
Posted: Sun Jun 09, 2013 6:03 am Post subject: |
|
|
wooden nickels, you still own the hagwon? I'm glad to hear it's doing well. Many hagwons are going under these days I hear. |
|
Back to top |
|
 |
wooden nickels
Joined: 23 May 2010
|
Posted: Sun Jun 09, 2013 6:10 am Post subject: |
|
|
World Traveler wrote: |
wooden nickels, you still own the hagwon? I'm glad to hear it's doing well. Many hagwons are going under these days I hear. |
Yes, still have it.
I've seen a lot of these mom-n-pop schools go under. Most of them had a Benz or big BMW parked in front of them. Guess why most of these schools go under. |
|
Back to top |
|
 |
|
|
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
|
|