Korean Job Discussion Forums

[saram_]

How are Korean people going to cope in the future with wages not rising and household debt increasing ever greater too?

The future is really uncertain here for all!
What do ye think of this?


http://expatnewswire.com/news/2014/12/11/for-expats-in-korea-race-to-the-bottom-wages-are-here/

Incomes have been falling in South Korea for some time, and the race to the bottom is now coming to English teachers, writers, and editors in the country.

While teacher salaries are frozen in place, incomes for other careers are weakening. For instance, the Korea Tourism Organization has recently announced a position for a bilingual English and Korean editor that pays 11,538 Korean won ($10.46) per hour.

That is less than half the median hourly wage for editors in the United States. The position does not include a housing allowance, which is common for teaching positions in the country.

One editor at a major English-language newspaper in South Korea, who wished to remain anonymous, said in a telephone interview that the KTO’s offering salary was significantly less than what most Korean periodicals offer for English speakers. “We would probably pay twice as much for a bilingual editor,” he said, noting that salaries at many Korean publishing companies for English speakers were falling. “New hires are getting paid 20% less what new hires got five years ago, but we’re still less profitable than we used to be.”

Falling incomes for English workers is a reflection of declining incomes for entry-level Korean workers. The plight of the so-called “880,000 won generation” has persisted since 2009, meaning that 60% of Korean youth are unable to prepare for retirement. To combat falling wages, the South Korean government increased the minimum wage to 5,210 won ($4.57) in 2014. Minimum wage is going to increase again to 5,580 won ($5.40) in 2015.

However, most college-educated Koreans have not seen their incomes rise at the same pace, while English teachers in Korea have also seen incomes flatline. Minimum incomes with South Korea’s EPIK program have fallen to 1.8 million won, less than the minimum in 2009. Hagwon and private language school incomes vary.

Expat Newswire will release a study of TEFL teacher salaries around the world later this month.

[bmaw01]

You sound like chicken little. The sky is falling! The sky is falling!

This isn't just an issue that is Korean only. It's an American issue as well. Just two-three years ago people were saying the same thing in America. Yet, the economy has been improving, and people have seen their 401ks improve to pre 2011 levels. IT'S NOT THE END OF THE WORLD!

People will adjust to whatever life throws at them.

[Yaya]

It ain't the end of the world but it can mean a reduction in the expat population here. Not just hakwon jobs but jobs overall for expats save the lucrative positions are in decline and Korean companies, esp. in the public sector, are asking the world in qualifications but offer around hakwon wages minus housing. I guess they're banking on recent grads who are more malleable and obedient, as Koreans mostly get sick of expats who stay too long at a job.

Another article said Japan is seeing a resurgence of English education demand, but I'm pretty down about that, too. Most Japanese have given up on English and well, the threat of quakes, radiation and other dangers has probably scared off a lot of expats, though you do have Japanphiles.

[wooden nickels]

If you are new to ESL or don't have strong ties in Korea, China is the place to go.

[wooden nickels]

Now is a good time to transfer some money before the won implodes.

[FDNY]

[atwood]

[motiontodismiss]

[nicwr2002]

I saw a job posting for a kindergarten that read: 10am~6:30 (you may have to work some longer evenings and sometimes Saturdays.
Pay: 2.1 million won
Vacation: 8 days

People were actually contacting this school to work there...

[Chaparrastique]

[FDNY]

As usual, the posters here have absolutely no idea what they are talking about.

http://www.oecd.org/economy/korea-economic-forecast-summary.htm

GDP growth: Korea better than OECD average
Unemployment: Almost half of OECD average
Fiscal Balance: Korea better than OECD average
Inflation: Almost the same as OECD average

Seems OK to me.

The reason ESL job salaries are stagnating, and they always have done,
is the market is geared to employing young, recent graduates. Preferably
young, American, female and blond. They come for a year and head
home again. They aren't really here to save $$$. More of a working
holiday. So why pay them more? They're happy, employers are happy.

[GENO123]

Japan and the EU are bankrupt and in recession or near recession

[EZE]

[Died By Bear]

[TheMeerkatLover]