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Severance Pay Help

 
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rendragmc



Joined: 21 May 2010

PostPosted: Wed Aug 21, 2013 3:52 pm    Post subject: Severance Pay Help Reply with quote

I'm supposed to be starting a new job in September at a university. It's not an ESL position but is a faculty job. I'm on an F6 visa but normally the person with this job is given an E1.

Anyway, when we negotiated my salary, we agreed to 35 Mil per year plus housing. I received an email a few days ago from the University outlining my salary and benefits that would be in my contract and everything was as we agreed upon. They stated in the email that my salary included my severance pay. Today, I received my contract in the mail today and the salary on the contract is a little over 32 million.

So since the salary in the contract is lower than what we agreed upon, does that mean that when I resign I will be receiving the difference at the end of my contract? Also, the contract makes no mention of severance pay. It sounds to me like they are trying to include their matching pension funds in my salary and call it severance.

This is sending up all sorts of red flags for me. This is my fourth year in Korea and will be my third year teaching at a university so I'm familiar with how the contracts normally work with bonuses and severance at the end of your contract. However I've never encountered the severance being deducted from my agreed-upon salary. This is an awesome job that I've been offered but I'm not going to go to work for less than what we agreed upon. I would appreciate it if anyone had a similar experience and could share it with me or if you have some insight into these quirky issues with contract and could explain it to me. Thanks very much!
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YTMND



Joined: 16 Jan 2012
Location: You're the man now dog!!

PostPosted: Wed Aug 21, 2013 7:43 pm    Post subject: Reply with quote

Quote:
However I've never encountered the severance being deducted from my agreed-upon salary.


I don't know what other offers you have, but I would check to see if your visa matches the same benefits an E2 visa holder should get. My understanding is you finish a year and you are owed severance.

You don't need this to be mentioned in the contract to collect on it later. Also, you need to finish the year so it doesn't make sense to give you severance with your pay before you have completed 12 months.

If you don't want to make it a legal issue at the end of the year, look for another school that will offer the same, and then feel free to reject this one. However, by the looks of it 2-3 million won would not stop me from accepting a 32 million won job offer. If you don't want it, then I am sure there are others who would gladly take it.
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