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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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 Posted: Fri Aug 28, 2015 9:19 pm Post subject: |
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| Suppose we do an apples for apples comparison for hourly wages: EFL teacher at a hogwon vs. Hyundai worker in manufacturing. How much in KRW is earned per hour in base pay? |
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World Traveler
Joined: 29 May 2009
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| Posted: Fri Aug 28, 2015 9:34 pm Post subject: |
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| Fallacy wrote: |
| GM is planning to displace unit production from the ROK to India. Consider going there to work if you wish. |
Work for GM in India? How much would they be paid there? Autoworkers for them in the U.S. get $58 per hour.
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| Ford Motor Co's (F.N) hourly labor costs were $57, just behind GM's at $58. FCA's U.S. workers averaged $48 per hour. |
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| Germany's Daimler AG (DAIGn.DE), for its Mercedes-Benz plant in Alabama, at its only U.S. plant, has the highest U.S. auto labor costs, at an average of $65 an hour. Workers at the U.S. plants of Volkswagen AG (VOWG_p.DE) and BMW (BMWG.DE) earn the least, at $38 and $39 per hour, respectively, according to estimates by CAR. |
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| Of the other automakers operating in the United States, Honda Motor Co (7267.T) workers earned on average $49 per hour, Toyota Motor Corp (7203.T) $48, Nissan Motor Co (7201.T) $42, Hyundai Motor Co (005380.KS) and its corporate stablemate Kia Motors Corp (000270.KS) $41. |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 9:52 pm Post subject: |
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Details contained in this link:
| GENO123 wrote: |
| http://qz.com/115107/unions-are-driving-hyundai-and-general-motors-out-of-south-korea/ |
"hourly labor costs in Hyundai’s South Korean factories were estimated to be 24,778 won per worker"
| GENO123 wrote: |
| Posters on this board almost always underesitmate what Koreans actually earn |
Perhaps "overestimate" rather than "underestimate" is the proper word? So far, we have ??,000/hour hogwon vs. 25,000/hour Hyundai. Anyone care to fill in the ?? |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 9:57 pm Post subject: |
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| World Traveler wrote: |
| How much would they be paid there? |
Presumably less. |
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GENO123
Joined: 28 Jan 2010
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| Posted: Fri Aug 28, 2015 10:12 pm Post subject: |
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| Fallacy wrote: |
Details contained in this link:
| GENO123 wrote: |
| http://qz.com/115107/unions-are-driving-hyundai-and-general-motors-out-of-south-korea/ |
"hourly labor costs in Hyundai’s South Korean factories were estimated to be 24,778 won per worker"
| GENO123 wrote: |
| Posters on this board almost always underesitmate what Koreans actually earn |
Perhaps "overestimate" rather than "underestimate" is the proper word? So far, we have ??,000/hour hogwon vs. 25,000/hour Hyundai. Anyone care to fill in the ?? |
They get a huge bonus in addition to their hourly wage please read |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 10:19 pm Post subject: |
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| GENO123 wrote: |
| They get a huge bonus in addition to their hourly wage |
Indeed, employees can get bonuses. Do you wish to comment upon the amount of hours worked as well? |
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World Traveler
Joined: 29 May 2009
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| Posted: Fri Aug 28, 2015 10:20 pm Post subject: |
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| 25k was base a few years ago (and is probably higher now). The article also says, "Since 2002, Hyundai workers’ average annual salary has more than doubled to 94 million won." which is taking into account the bonuses I guess. |
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GENO123
Joined: 28 Jan 2010
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| Posted: Fri Aug 28, 2015 10:26 pm Post subject: |
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| Fallacy wrote: |
| GENO123 wrote: |
| They get a huge bonus in addition to their hourly wage |
Indeed, employees can get bonuses. Do you wish to comment upon the amount of hours worked as well? |
67% bonus plus other perks like tuition money. Maybe some use of a company card.. As for hours worked i will just answer that
Most korean teaching jobs are no walk in the park either. And at a company they are not working hard all the time. |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 10:27 pm Post subject: |
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| 48 hours of teaching each week? I couldn't believe that... |
Care to take a guess at how many hours of working each week are averaged at Hyundai factories? You might not believe it ... |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 10:29 pm Post subject: |
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Source? Or are you doing math by extrapolation from the article? |
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GENO123
Joined: 28 Jan 2010
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| Posted: Fri Aug 28, 2015 10:47 pm Post subject: |
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Read the article 8 months pay performance bonus. Anyway about the guy who worked in a public school well i dont know when it was written but most esl jobs in korea are much worse than they were just several years ago in regards to stuff. Unrelated to pay.
Hogwon esl propaganda is that a hogwon job is a reasonably good job in korea. But the truth is that well it is not |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 10:57 pm Post subject: |
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I see. Since you have no sources other than the article for information, I will dismiss any further commentary on Hyundai you might have to offer until further notice. All I can say is that misleading information is unhelpful.
| GENO123 wrote: |
| Hogwon esl propaganda is that a hogwon job is a reasonably good job in korea. But the truth is that well it is not |
Agreed. |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 11:01 pm Post subject: |
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| GENO123 wrote: |
| Read the article 8 months pay performance bonus. |
I read the article, and even it clearly says "The current bonus is five months" in parenthesis, so again, let me reiterate: misleading information is unhelpful. |
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GENO123
Joined: 28 Jan 2010
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| Posted: Fri Aug 28, 2015 11:08 pm Post subject: |
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Article is from 2013. I assume they didnt get a pay cut and the average is 94 m a year from two sources.
http://m.blog.naver.com/youkipark/100208487427
Article hyundai chair man gets 14 million dollars while hyundi employees get 94 k
Last edited by GENO123 on Fri Aug 28, 2015 11:15 pm; edited 1 time in total |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Aug 28, 2015 11:13 pm Post subject: |
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| GENO123 wrote: |
| I assume they didnt get a pay cut |
Be careful about assumptions. Since bonuses are profit related, would you care to guess if Hyundai was more or less profitable year over year afterwards? The article was written in 2013 using figures from 2012, so keep that in mind. |
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