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jcd
Joined: 13 Mar 2012
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 Posted: Wed Sep 09, 2015 8:49 pm Post subject: |
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I just saw this in an ad
"Schedule is light working Mon-Fri 10-7 with plenty of time for personal interests and hobbies" Starts at 2.1
In what world does working 9 hours a day leave you plenty of time for interests and hobbies? |
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trueblue
Joined: 15 Jun 2014
Location: In between the lines
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| Posted: Thu Sep 10, 2015 8:45 am Post subject: |
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I bet the job comes with a "free lunch" hidden away in there.
Which is code for not being allowed to leave on your legal break. |
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DaeguNL
Joined: 08 Sep 2009
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| Posted: Fri Sep 11, 2015 6:45 pm Post subject: |
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| World Traveler wrote: |
| $2,352-$2,520 a month for Americans for the 2.8-3.0 amount. (And usually an F-visa is required to get that.) |
F-Visa's are required at companies that don't have a small private academy
in which they sponsor E-2 visas. I know of a lot of people who work, or have worked at afterschool programs on an e-2.
my first year here i made 2.2 with a free apt, my 2nd year i got 2.3+0.4 housing allowance. that still works out to over $3000 a month for Canadians not including pension or severance.
2,700,000 = $3,025 right now. In 2009 it would have been $2,375 |
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DaeguNL
Joined: 08 Sep 2009
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| Posted: Fri Sep 11, 2015 6:58 pm Post subject: |
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| JohnML wrote: |
| World Traveler wrote: |
| isitts wrote: |
| About six years ago base salary for a typical hagwon was about 2.5 mil won. |
Now it's down to 2.1. Account for inflation since that time and it's a a much greater drop. |
And that 2.1 is for 20-25 teaching hours, the guy didn't mention that. + prep you are looking at 30-35 hours - almost a full time average job. The average Korean incl min wage jobs is on $2900 a month, people say he works more. People always go crazy when overstating the hours a Korean actually works. It's more like a 45 hour work week average.
Adding on the travelling, prep etc for private lessons people make probably 2.5-.2.9k USD if they are lucky working a 45 hour week at least. Possibly more. That 2.9k USD is for an average of professionals + factory work. If it were purely professionals we are talking about 6k USD+ with the same experience.
Everyone will try to paint a pretty picture of it but TEFL is a fairly abysmal pay package. Compare it with an average degree holder in the US and prepare to cry in the difference in wages. It's also getting worse as you mentioned but people will always try to defend what they love and fair play to them. |
I guess it depends whether you are a first year e-2 at toss english, or someone with more than a year experience who has networked to get a job at a place like moonkkang (2.4-2.6 + housing is the minimum, + a raise and extra vacation every year you stay).
Also most F-Visas here are doing quite well, the usual range seems to be about 3.5-5 a month. Personally, I'd need to be looking at a 70-75k job back home to take home as much as I do now. GL with that in Canada unless you are willing to work on the oil rigs |
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World Traveler
Joined: 29 May 2009
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| Posted: Fri Sep 11, 2015 7:29 pm Post subject: |
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| DaeguNL wrote: |
| 2,700,000 = $3,025 right now. |
In Canadian dollars it is. In U.S. dollars, it's $2,282. Quite the difference. |
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GENO123
Joined: 28 Jan 2010
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| Posted: Fri Sep 11, 2015 10:44 pm Post subject: |
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| DaeguNL wrote: |
| World Traveler wrote: |
| $2,352-$2,520 a month for Americans for the 2.8-3.0 amount. (And usually an F-visa is required to get that.) |
F-Visa's are required at companies that don't have a small private academy
in which they sponsor E-2 visas. I know of a lot of people who work, or have worked at afterschool programs on an e-2.
my first year here i made 2.2 with a free apt, my 2nd year i got 2.3+0.4 housing allowance. that still works out to over $3000 a month for Canadians not including pension or severance.
2,700,000 = $3,025 right now. In 2009 it would have been $2,375 |
Do you think the korean won will get weaker or stronger.
? |
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Coltronator
Joined: 04 Dec 2013
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| Posted: Fri Sep 11, 2015 10:48 pm Post subject: |
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| Weaker by about 3-5% relatively to the U.S. but it looks like as of today that the Canadian dollar is going to nosedive another 10% in the next 2 months as 20$ a barrel oil has just been predicted. |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Fri Sep 11, 2015 11:31 pm Post subject: |
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| Coltronator wrote: |
| as 20$ a barrel oil has just been predicted. |
Not correct. Goldman Sachs reduced its 2016 estimate for WTI to $45 USD a barrel from a May projection of $57 USD. Not a prediction, but merely a possibility. The report from GS stated only that if production is not reduced fast enough, then prices will need to fall near to $20 USD to clear the oversupply. Without qualification, the quoted statement above is misleading. |
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World Traveler
Joined: 29 May 2009
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Sat Sep 12, 2015 2:07 am Post subject: |
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| Korea is reducing bank interest rates to encourage people to borrow money. Yet, is trying to come up with a solution to the increasing household debt. |
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Coltronator
Joined: 04 Dec 2013
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| Posted: Sat Sep 12, 2015 5:58 pm Post subject: |
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Topcat I share your concerns however there may be a genius to this madness. In Korea the general economics of a family (even lower class ones) is that each has a chunk of money commensurate with their lifestyle. They move this chunk of money around from Wolsei to Jonsei to Investment to Buying a small business to etc.
The lower rates are also happening at the same time as a pretty significant Bank reform that will stop the practice of Interest Only Loans. These two changes may stimulate family's abilities to grow their chunks instead of simply move them around as they couldn't pay back the old loans and didn't even want to. Now they can possibly pay them back more often and in fact have to.
I admit that there are other scenarios both disasterous and benign that could result. |
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Sun Sep 13, 2015 3:22 am Post subject: |
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| Coltronator wrote: |
Topcat I share your concerns however there may be a genius to this madness. In Korea the general economics of a family (even lower class ones) is that each has a chunk of money commensurate with their lifestyle. They move this chunk of money around from Wolsei to Jonsei to Investment to Buying a small business to etc.
The lower rates are also happening at the same time as a pretty significant Bank reform that will stop the practice of Interest Only Loans. These two changes may stimulate family's abilities to grow their chunks instead of simply move them around as they couldn't pay back the old loans and didn't even want to. Now they can possibly pay them back more often and in fact have to.
I admit that there are other scenarios both disasterous and benign that could result. |
Yes. I'm familiar with how the Wolsei to Jonsei to Investment to Buying a small business scheme works. I'm surprised it is as successful as it is. It seems like a Ponzi (probably didn't spell that correctly) scheme. The real estate prices keep booming. |
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Coltronator
Joined: 04 Dec 2013
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| Posted: Sun Sep 13, 2015 3:31 pm Post subject: |
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I get what you mean when you say "Ponzi" but it isn't like that at all. In a Ponzi hey would have to be taking in money from multiple sources with a promise of a future payout, hide their actual financial dealings and pay early investors back with later investor money.
It isn't really a scheme as much a system. All information is open. Most often the chunk of money isn't borrowed at all or just a tiny amount is and instead completely the family's own asset. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Sun Sep 13, 2015 6:36 pm Post subject: |
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| VanIslander wrote: |
Actually I do feel like a dummy at 2.0 Mill/mo.
Making the equivalent of $45,000 CAN (factoring in taxes, one-third rent),
having an overall lower cost of living,
working only 30 hours a week (and never before 1 p.m.) at a job easy to get
It's stupid not to have done it sooner. 
I think some dissatisfaction comes from the Western value of corporate progress: we expect to get pay raises regularly to reflect our senority and experience. Over the holidays, my family didn't understand how I could be doing such a good job and yet not get a raise. The home-grown impulse to climb the business ladder is making some teachers want a higher salary for doing the same job. Other teachers feed the impulse by increasing their education.
And, as already acknowledged, discontent over 2.0 M comes from a bit of jealousy, in hearing of some others making more, a motive shared by the keep-up-with-the-Kims crowd. |
I'm not understanding how you can't get a raise either. First year 2.1, then second year, 2.2, and so on. Even with experience and being good with kids and all that stuff, after a few years here anyone should be able to command 2.4 to 2.5ish. And that's not really all that much. It should be more considering inflation the past decade but I don't see why any long term ESLer couldn't get a minimum in the 2.3 to 2.5 rsnge.
I stuck with the same employer for years and get some small overtime and my housing allowance paid to me directly. Including my 2.0 million won renewal allowance, I'm in the low 3.0's. I know SMOE and some other cities have a lower paying scale and if I lost this job, I'd obviously have to go down in pay. Might just be worth it to hop onto China when the time comes if the wages fall and the costs go up. (We all ehar about how things are in Japan. Why folks go there is a mystery?) |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Sun Sep 13, 2015 6:38 pm Post subject: |
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It's good for us if it does. |
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