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Dr. Lipschitz
Joined: 30 Aug 2013
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 Posted: Sat Feb 01, 2014 5:10 am Post subject: Re: Life |
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[/quote] What will happen depends a lot on what you and your wife do. you can be in a great position in Korea when you reach your 40s, 50s or you can be out on your rear end. Same back home in many ways. Your "expiration date" in Korea will depend on you also! If you do nothing but accumulate hakwon entry level jobs then your past due date will come sooner than later and you will have little to show for it...that is but one choice.
You want to do well in Korea? Upgrade your qualifications for your field of choice, network, possibly learn the language. Your wife can certainly help assuming she is Korean. Lots of lifers have pretty good lives but all of them them have something in common in my experience: they worked hard, upgraded, networked and kept very active professionally.
You are on a good path with upgrading your qualifications however and I hope this works out for you and your family. All the best.[/quote]
Thanks for the advice-
Yeah, I thought about making the jump to a Uni, but I am so embedded with my school, its hard to leave- I have it pretty good there, and have climbed the ladder to a management style position, with very little teaching and hours allowing me to do more work outside of school without working crazy hours. My wife is pretty well connected with students and mother's, as she was a home-room teacher at school we both worked out, which is quite famous in area we live in, leading to lots of private lessons and so on-
Most of my friends are "lifers" However, they are young lifers- as in they are currently living the life...Climbing the ladder here in Korea. I guess in all fields of work no one can guess the future stability climate....I haven't met many foreigners living here in their 50's or 60's who started off in the ESL game. I guess part of it has to do with timing, I just wonder what the future holds for new families in Korea. It's a very new concept in Korean culture. |
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Brooks
Joined: 08 Apr 2003
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| Posted: Sat Feb 01, 2014 5:11 am Post subject: |
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Ok,
well as long as you think of your future and keep learning,
you could do alright.
Just planning about your future and making the transition to the US is key.
It gets tough teaching, considering the declining birthrate.
at least in the US, there is going to be economic growth. |
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Brooks
Joined: 08 Apr 2003
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| Posted: Sat Feb 01, 2014 5:17 am Post subject: |
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| To be a lifer, without a doctorate, is it really possible? |
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Troglodyte
Joined: 06 Dec 2009
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| Posted: Sat Feb 01, 2014 5:25 am Post subject: |
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I think that it's quite common for "lifers" in Korea to start branching into other lines of work or to open small businesses. In other countries, many long term English teachers eventually get into management and trainer jobs in ELT. Some open their own schools. I think that opening a school here though is just like opening any other small business. It's often unstable and you have to know how to get some profit in the short term and know when to get out before going under. Since you'll likely always be partially based in Korea, you could consider opening a hogwon for Koreans in Thailand or somewhere else nearby.
I know plenty of people in Seoul who are here working in fields other than ELT. The biggest field is probably construction. I also know a couple of computer programmers who have been here for years.
There are options, but it largely depends on how imaginative you are. You COULD keep on working in ELT until well into your 60s. You wouldn't be the only one. You could also do short contracts elsewhere in Asia. The ELT industry has been around for quite a while, and honestly it isn't showing any signs of drying up any time soon. In Korea alone, there are more people here now than there were 10 years ago. If all the people saying that the ELT industry here is about to stop were correct, then the we'd have all been out of work 20 years ago. People keep saying that same thing, but the reality is that the job market is still expanding. |
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Dr. Lipschitz
Joined: 30 Aug 2013
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| Posted: Sat Feb 01, 2014 5:33 am Post subject: |
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| Troglodyte wrote: |
I think that it's quite common for "lifers" in Korea to start branching into other lines of work or to open small businesses. In other countries, many long term English teachers eventually get into management and trainer jobs in ELT. Some open their own schools. I think that opening a school here though is just like opening any other small business. It's often unstable and you have to know how to get some profit in the short term and know when to get out before going under. Since you'll likely always be partially based in Korea, you could consider opening a hogwon for Koreans in Thailand or somewhere else nearby.
I know plenty of people in Seoul who are here working in fields other than ELT. The biggest field is probably construction. I also know a couple of computer programmers who have been here for years.
There are options, but it largely depends on how imaginative you are. You COULD keep on working in ELT until well into your 60s. You wouldn't be the only one. You could also do short contracts elsewhere in Asia. The ELT industry has been around for quite a while, and honestly it isn't showing any signs of drying up any time soon. In Korea alone, there are more people here now than there were 10 years ago. If all the people saying that the ELT industry here is about to stop were correct, then the we'd have all been out of work 20 years ago. People keep saying that same thing, but the reality is that the job market is still expanding. |
Valid points-
I guess I am not a huge risk taker, as opening a school is a risk but allows for more freedom and a self-made future. However, I don't know if I would want to have to deal with all of that, when I can get qualified in another field-
If any of you have families and a long term plan to stay please share.
How will you do it? |
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Yaya
Joined: 25 Feb 2003
Location: Seoul
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| Posted: Sat Feb 01, 2014 5:46 am Post subject: |
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Perhaps the OP could become a partner of the hakwon he's working at so long as the place is solid.
You can retire here but raising children in Korea is a huge challenge that many an expat have refused to do.
There is a reason most expats bail Korea before hitting 45 or so, and it's no accident. As John Wooden said, "Failing to plan is planning to fail." |
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Troglodyte
Joined: 06 Dec 2009
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| Posted: Sat Feb 01, 2014 5:54 am Post subject: |
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| Dr. Lipschitz wrote: |
| Troglodyte wrote: |
I think that it's quite common for "lifers" in Korea to start branching into other lines of work or to open small businesses. In other countries, many long term English teachers eventually get into management and trainer jobs in ELT. Some open their own schools. I think that opening a school here though is just like opening any other small business. It's often unstable and you have to know how to get some profit in the short term and know when to get out before going under. Since you'll likely always be partially based in Korea, you could consider opening a hogwon for Koreans in Thailand or somewhere else nearby.
I know plenty of people in Seoul who are here working in fields other than ELT. The biggest field is probably construction. I also know a couple of computer programmers who have been here for years.
There are options, but it largely depends on how imaginative you are. You COULD keep on working in ELT until well into your 60s. You wouldn't be the only one. You could also do short contracts elsewhere in Asia. The ELT industry has been around for quite a while, and honestly it isn't showing any signs of drying up any time soon. In Korea alone, there are more people here now than there were 10 years ago. If all the people saying that the ELT industry here is about to stop were correct, then the we'd have all been out of work 20 years ago. People keep saying that same thing, but the reality is that the job market is still expanding. |
Valid points-
I guess I am not a huge risk taker, as opening a school is a risk but allows for more freedom and a self-made future. However, I don't know if I would want to have to deal with all of that, when I can get qualified in another field-
If any of you have families and a long term plan to stay please share.
How will you do it? |
I wouldn't recommend opening a school here either. They are too risky. Even most Koreans open small businesses with a short term plan because they know that small businesses usually go under after a few years. There are other more stable options. Along a similar line, you could open a "study room". These places are basically just a bunch of rooms where students can study. Some are big rooms that they can use like a classroom (and some teachers do rent them out to hold classes in) or they could be little 1 or 2 person rooms, or it could be rooms with a bunch of study cubicles. These places will have internet, probably snacks for sale, usually located downtown or in a university district (if your target audience is university students) and some might even have a "nap" area. You don't need to hire staff and the overhead is lower. The income isn't as high either though. If you're good with computers or can partner with a computer tech wizard, you could open an online school. Again, less overhead. You can also hire teachers from other countries. For example, you could hire an American teacher who's living in China. You pay him better than he'd make doing part-time classes in China, but for less than you'd pay a part-time teacher here. The downside is that people more often want a physical school. If you can find a good location and if you have some local contacts (to pay off the right people) you could open a beer/soju tent. They have very lower overhead and their profit is determined a lot by location. Similarly, you could have a food cart/truck/tent near a subway station or a major drinking area. Again, lower overhead but you have to know who to pay off to get a good location.
Or invest in real estate. People always need a place to live. I think that you'd need to investigate the area you're interested, and it would be a long term investment, but it can also be profitable, particularly if you're looking towards profits 20 years from now. |
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Dr. Lipschitz
Joined: 30 Aug 2013
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| Posted: Sat Feb 01, 2014 6:02 am Post subject: |
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| Troglodyte wrote: |
| Dr. Lipschitz wrote: |
| Troglodyte wrote: |
I think that it's quite common for "lifers" in Korea to start branching into other lines of work or to open small businesses. In other countries, many long term English teachers eventually get into management and trainer jobs in ELT. Some open their own schools. I think that opening a school here though is just like opening any other small business. It's often unstable and you have to know how to get some profit in the short term and know when to get out before going under. Since you'll likely always be partially based in Korea, you could consider opening a hogwon for Koreans in Thailand or somewhere else nearby.
I know plenty of people in Seoul who are here working in fields other than ELT. The biggest field is probably construction. I also know a couple of computer programmers who have been here for years.
There are options, but it largely depends on how imaginative you are. You COULD keep on working in ELT until well into your 60s. You wouldn't be the only one. You could also do short contracts elsewhere in Asia. The ELT industry has been around for quite a while, and honestly it isn't showing any signs of drying up any time soon. In Korea alone, there are more people here now than there were 10 years ago. If all the people saying that the ELT industry here is about to stop were correct, then the we'd have all been out of work 20 years ago. People keep saying that same thing, but the reality is that the job market is still expanding. |
Valid points-
I guess I am not a huge risk taker, as opening a school is a risk but allows for more freedom and a self-made future. However, I don't know if I would want to have to deal with all of that, when I can get qualified in another field-
If any of you have families and a long term plan to stay please share.
How will you do it? |
I wouldn't recommend opening a school here either. They are too risky. Even most Koreans open small businesses with a short term plan because they know that small businesses usually go under after a few years. There are other more stable options. Along a similar line, you could open a "study room". These places are basically just a bunch of rooms where students can study. Some are big rooms that they can use like a classroom (and some teachers do rent them out to hold classes in) or they could be little 1 or 2 person rooms, or it could be rooms with a bunch of study cubicles. These places will have internet, probably snacks for sale, usually located downtown or in a university district (if your target audience is university students) and some might even have a "nap" area. You don't need to hire staff and the overhead is lower. The income isn't as high either though. If you're good with computers or can partner with a computer tech wizard, you could open an online school. Again, less overhead. You can also hire teachers from other countries. For example, you could hire an American teacher who's living in China. You pay him better than he'd make doing part-time classes in China, but for less than you'd pay a part-time teacher here. The downside is that people more often want a physical school. If you can find a good location and if you have some local contacts (to pay off the right people) you could open a beer/soju tent. They have very lower overhead and their profit is determined a lot by location. Similarly, you could have a food cart/truck/tent near a subway station or a major drinking area. Again, lower overhead but you have to know who to pay off to get a good location.
Or invest in real estate. People always need a place to live. I think that you'd need to investigate the area you're interested, and it would be a long term investment, but it can also be profitable, particularly if you're looking towards profits 20 years from now. |
Great ideas-
Especailly the study room idea. If someone invested some money and made a trendy nice one, with a lounge area and a little "coffee" shop/snack bar inside, it may be something-
I always thought about the food truck/ small restaurant idea- I would kill for a chicken and waffle place or a chicken and biscuit place or any decent place that serves up western fare.I know Seoul has tons of places like that, but it is really lacking in Busan - We don't have much variety. such as Vatos, Butterfingers, etc, etc... I feel that if someone opened stuff like that in Busan, there is a lot of money to be had-
Is the endeavor right for me, I don't think so- |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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| Posted: Sat Feb 01, 2014 7:07 am Post subject: |
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| My dream is to retire and sell veggies out of a Bongo truck. My loudspeakers will be devastating. |
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Chaparrastique
Joined: 01 Jan 2014
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| Posted: Sat Feb 01, 2014 8:03 am Post subject: |
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| Died By Bear wrote: |
| My dream is to retire and sell veggies out of a Bongo truck. My loudspeakers will be devastating. |
How about getting into cardboard? |
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Ginormousaurus
Joined: 27 Jul 2006
Location: 700 Ft. Pulpit
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| Posted: Sat Feb 01, 2014 8:45 am Post subject: |
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| Brooks wrote: |
at least in the US, there is going to be economic growth. |
Not only that, but supply chain management is important to nearly every industry. I would imagine you could make a decent career with a degree in supply chain management. |
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guavashake
Joined: 09 Nov 2013
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| Posted: Sat Feb 01, 2014 6:20 pm Post subject: |
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| Chaparrastique wrote: |
| Died By Bear wrote: |
| My dream is to retire and sell veggies out of a Bongo truck. My loudspeakers will be devastating. |
How about getting into cardboard? |
I know a couple who went into the iron and steel business. She stays home and irons, and he goes out and steels. |
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Dr. Lipschitz
Joined: 30 Aug 2013
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| Posted: Sat Feb 01, 2014 8:26 pm Post subject: |
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| Ginormousaurus wrote: |
| Brooks wrote: |
at least in the US, there is going to be economic growth. |
Not only that, but supply chain management is important to nearly every industry. I would imagine you could make a decent career with a degree in supply chain management. |
Yeah- It is an in demand job - and the percentage of people who get multiple job offers after finishing the program is encouraging. |
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atwood
Joined: 26 Dec 2009
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| Posted: Sun Feb 02, 2014 3:53 am Post subject: |
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| Chaparrastique wrote: |
| Died By Bear wrote: |
| My dream is to retire and sell veggies out of a Bongo truck. My loudspeakers will be devastating. |
How about getting into cardboard? |
Those in the business call it OCC. |
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atwood
Joined: 26 Dec 2009
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| Posted: Sun Feb 02, 2014 3:58 am Post subject: |
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Go back to school in the U.S. like you are planning to. Don't think of being older, think of being more experienced. Your wife and child will be great motivation to succeed in school and will also probably make your life in school easier.
The people and communication skills you've learned teaching will be a big plus. You should have no problems getting a good job after graduation.
That's my two cents. Good luck! |
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