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osan2001
Joined: 24 Oct 2015
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 Posted: Wed Nov 18, 2015 11:42 am Post subject: |
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[quote="osan2001"][quote="edwardcatflap"]
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Instead of looking at your costs, try to increase your revenue by teaching more. You can really improve your standard of living, and savings by just a little extra work. |
I'm more than open to doing that-I'd actually prefer it. But I thought that was illegal. |
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osan2001
Joined: 24 Oct 2015
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| Posted: Wed Nov 18, 2015 11:46 am Post subject: |
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| Weigookin74 wrote: |
Only if you're including the pension refund and the 12 month severance payment. Otherwise, it'd be much less. Korea has gotten more costly in the past 10 years son. A 2.1 won't cut it anymore.
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To be absolutely clear, I am including that.
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Deductions will bring you to 1.9 million won. You're going to need 800.000 won or maybe even 900,000 won for your monthly expenses. More if you're travelling away every weekend. It use to be you'd only need about 500,000 or 600,000 a month 10 years ago when you were earning the same salary.Let's say you could send home 1.3 million a decade ago, now you can send home 1.0 million a month. 1.3 at the time was worth at least 1400 or 1500 bucks. Today, one million is worth 850 bucks. So, for 12 months and no travlling on the weekends nor visiting other nearby Asian countries will get you around 10 thousand bucks if your lucky. Plus 10 K if you tack on the severance and pension which will prob have some tax taken off too. Those two with the bad exchange rate will get you an extra 3100 bucks. So, you could theoretically end up with $13,300 or so. Same salary, cheaper living cost, and better exchange rate several years ago would have got you $21,500 or so for the year. This is reasonably frugal living without necessarily eating ramien or gimbap for every meal. (This is
So, Korea has declined and the salaries need to go up to bring back a better quality of life. A similar or even higher salary is offered in China, but with a cheaper living cost. Not sure if your interest here is just to get a couple of years experience or because you're a Koreaphobe. Some folks use to be like this over Japan and would endure the most extreme poverty like conditions to be able to live there.
You can still make some money, but it is declining. Not sure what it will be in 5 years time unless there's some serious rebound in America and China keeps ramping up it's hiring of teachers. |
Really? I was also considering China, but was under the impression that you couldn't save as much as you could in Korea. Is that not true? |
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osan2001
Joined: 24 Oct 2015
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| Posted: Wed Nov 18, 2015 11:47 am Post subject: |
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[quote="osan2001"]
| Weigookin74 wrote: |
Only if you're including the pension refund and the 12 month severance payment. Otherwise, it'd be much less. Korea has gotten more costly in the past 10 years son. A 2.1 won't cut it anymore.
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To be absolutely clear, I am including that.
| Quote: |
Deductions will bring you to 1.9 million won. You're going to need 800.000 won or maybe even 900,000 won for your monthly expenses. More if you're travelling away every weekend. It use to be you'd only need about 500,000 or 600,000 a month 10 years ago when you were earning the same salary.Let's say you could send home 1.3 million a decade ago, now you can send home 1.0 million a month. 1.3 at the time was worth at least 1400 or 1500 bucks. Today, one million is worth 850 bucks. So, for 12 months and no travlling on the weekends nor visiting other nearby Asian countries will get you around 10 thousand bucks if your lucky. Plus 10 K if you tack on the severance and pension which will prob have some tax taken off too. Those two with the bad exchange rate will get you an extra 3100 bucks. So, you could theoretically end up with $13,300 or so. Same salary, cheaper living cost, and better exchange rate several years ago would have got you $21,500 or so for the year. This is reasonably frugal living without necessarily eating ramien or gimbap for every meal. (This is
So, Korea has declined and the salaries need to go up to bring back a better quality of life. A similar or even higher salary is offered in China, but with a cheaper living cost. Not sure if your interest here is just to get a couple of years experience or because you're a Koreaphobe. Some folks use to be like this over Japan and would endure the most extreme poverty like conditions to be able to live there.
You can still make some money, but it is declining. Not sure what it will be in 5 years time unless there's some serious rebound in America and China keeps ramping up it's hiring of teachers. |
Really? I was also considering China, but was under the impression that you couldn't save as much as you could in Korea. Is that not true?
I am perfectly open to any country.
Sorry about the duplicate posts, still figuring the interface. |
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DaeguNL
Joined: 08 Sep 2009
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| Posted: Wed Nov 18, 2015 6:47 pm Post subject: |
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[quote="osan2001"]
| osan2001 wrote: |
| Weigookin74 wrote: |
Only if you're including the pension refund and the 12 month severance payment. Otherwise, it'd be much less. Korea has gotten more costly in the past 10 years son. A 2.1 won't cut it anymore.
|
To be absolutely clear, I am including that.
| Quote: |
Deductions will bring you to 1.9 million won. You're going to need 800.000 won or maybe even 900,000 won for your monthly expenses. More if you're travelling away every weekend. It use to be you'd only need about 500,000 or 600,000 a month 10 years ago when you were earning the same salary.Let's say you could send home 1.3 million a decade ago, now you can send home 1.0 million a month. 1.3 at the time was worth at least 1400 or 1500 bucks. Today, one million is worth 850 bucks. So, for 12 months and no travlling on the weekends nor visiting other nearby Asian countries will get you around 10 thousand bucks if your lucky. Plus 10 K if you tack on the severance and pension which will prob have some tax taken off too. Those two with the bad exchange rate will get you an extra 3100 bucks. So, you could theoretically end up with $13,300 or so. Same salary, cheaper living cost, and better exchange rate several years ago would have got you $21,500 or so for the year. This is reasonably frugal living without necessarily eating ramien or gimbap for every meal. (This is
So, Korea has declined and the salaries need to go up to bring back a better quality of life. A similar or even higher salary is offered in China, but with a cheaper living cost. Not sure if your interest here is just to get a couple of years experience or because you're a Koreaphobe. Some folks use to be like this over Japan and would endure the most extreme poverty like conditions to be able to live there.
You can still make some money, but it is declining. Not sure what it will be in 5 years time unless there's some serious rebound in America and China keeps ramping up it's hiring of teachers. |
Really? I was also considering China, but was under the impression that you couldn't save as much as you could in Korea. Is that not true?
I am perfectly open to any country.
Sorry about the duplicate posts, still figuring the interface. |
I'd avoid china as a newbie. If you have a couple years teaching experience it's possible to get a job making as much as korea, not a chance you are making anything close to the 15-16,000 CNY needed as a first timer |
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DaeguNL
Joined: 08 Sep 2009
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| Posted: Wed Nov 18, 2015 6:56 pm Post subject: |
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| World Traveler wrote: |
| I doubt the OP has the F-visa/K-wife though. So it's 2.1 a month for him. |
I didn't have a K-wife my first year and I made 2.2. 2.3 my 2nd year,and 2.4 my 3rd year and didnt have a wife then either....
2.1 is the minimum. get a TEFL cert, maybe do a bit of volunteering at a community center after school program, and talk up your qualifications and experience. target a big city like daejon,daegu or incheon and not only will there be less competition, you will be able to save more.
if you really wanna make a bit more cash and are willing to work, ask recruiters about POLY. They pay 2.5 min. plus benefits, but you have to work 9:00/9:30-7:30 |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Wed Nov 18, 2015 10:30 pm Post subject: |
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[quote="osan2001"]
| osan2001 wrote: |
| Weigookin74 wrote: |
Only if you're including the pension refund and the 12 month severance payment. Otherwise, it'd be much less. Korea has gotten more costly in the past 10 years son. A 2.1 won't cut it anymore.
|
To be absolutely clear, I am including that.
| Quote: |
Deductions will bring you to 1.9 million won. You're going to need 800.000 won or maybe even 900,000 won for your monthly expenses. More if you're travelling away every weekend. It use to be you'd only need about 500,000 or 600,000 a month 10 years ago when you were earning the same salary.Let's say you could send home 1.3 million a decade ago, now you can send home 1.0 million a month. 1.3 at the time was worth at least 1400 or 1500 bucks. Today, one million is worth 850 bucks. So, for 12 months and no travlling on the weekends nor visiting other nearby Asian countries will get you around 10 thousand bucks if your lucky. Plus 10 K if you tack on the severance and pension which will prob have some tax taken off too. Those two with the bad exchange rate will get you an extra 3100 bucks. So, you could theoretically end up with $13,300 or so. Same salary, cheaper living cost, and better exchange rate several years ago would have got you $21,500 or so for the year. This is reasonably frugal living without necessarily eating ramien or gimbap for every meal. (This is
So, Korea has declined and the salaries need to go up to bring back a better quality of life. A similar or even higher salary is offered in China, but with a cheaper living cost. Not sure if your interest here is just to get a couple of years experience or because you're a Koreaphobe. Some folks use to be like this over Japan and would endure the most extreme poverty like conditions to be able to live there.
You can still make some money, but it is declining. Not sure what it will be in 5 years time unless there's some serious rebound in America and China keeps ramping up it's hiring of teachers. |
Really? I was also considering China, but was under the impression that you couldn't save as much as you could in Korea. Is that not true?
I am perfectly open to any country.
Sorry about the duplicate posts, still figuring the interface. |
More hoops to jump through to send money home. But you open a US dollar account and can convert 500 bucks a day. Then from there you can wire it home. That part is a pain. But, there are plenty of offers online. I had a friend do a public school away from the teir one cities and he negotiated hard. He is new to ESL and he got 12,000 rmb plus free housing. Living is cheaper than Korea. In the major cities with no housing provided, get 17,000 to 20,000 minimum. Avoid rip off EF like the plague. Sift through the jobs and negotiate hard. You have to negotiate more and comb the contracts with a fine comb. Not saying Korea is bad. But do a year or two and move on quickly. Every year that goes by, Korea is going down and CHina is rising.
Cheaper living costs in China especially if you're willing to cook at home and live like a local sometimes. Live in a tier 2 city and demand 12,000 rmb. They're deperate enough. You do have to be willing to negotiate rather than saying "OK, hee hee hee."
My friend wants me to go there to his town. They want foreigners bad. I'd ask for 15,000 rmb and free housing if I went. But I have some experience in Korea.
Overall, the only deal breaker for China would be the tier one cities if housing isn't included or an allowance that either is insufficent or non existent. I'd prob demand at least 15,000 min as a newbie with no experience with no free apartment for a tier one city. Then push to go up after that. Recruiters will try to rip you off and skim your salaries a bit. Just negotiate hard and be willing to deal with several positions. The want teachers more than teachers want China. It's like how Korea was 8 years ago, 15 years ago, etc. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Wed Nov 18, 2015 10:38 pm Post subject: |
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| DaeguNL wrote: |
| World Traveler wrote: |
| I doubt the OP has the F-visa/K-wife though. So it's 2.1 a month for him. |
I didn't have a K-wife my first year and I made 2.2. 2.3 my 2nd year,and 2.4 my 3rd year and didnt have a wife then either....
2.1 is the minimum. get a TEFL cert, maybe do a bit of volunteering at a community center after school program, and talk up your qualifications and experience. target a big city like daejon,daegu or incheon and not only will there be less competition, you will be able to save more.
if you really wanna make a bit more cash and are willing to work, ask recruiters about POLY. They pay 2.5 min. plus benefits, but you have to work 9:00/9:30-7:30 |
The exchange rate and the rising living costs make those amounts different than today. Especially if you are American. As a Canadian the rates were equally terrible from the end of 2008 to 2013 and moderately ok from the end of 2007 to the end of 2008 and from the end of 2013 to the end of 2014. Prior to and after these dates it's been decent and helps a lot. But, even so, living costs are rising more and more. In my case, I make much more above average so Korea's still worth it to me. Provincial EPIK is great when you stay and climb the pay scale, plus some overtime, plus still getting renewal allowances. (But I have had CC and Student Loan debt to the moon and back.) A 2.1 offer wouldnt be worth it to me. As a newbie, do it for year if you must, then get out of dodge. Plan that from day one so you don't get trapped. |
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DaeguNL
Joined: 08 Sep 2009
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| Posted: Thu Nov 19, 2015 1:44 am Post subject: |
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| Weigookin74 wrote: |
| DaeguNL wrote: |
| World Traveler wrote: |
| I doubt the OP has the F-visa/K-wife though. So it's 2.1 a month for him. |
I didn't have a K-wife my first year and I made 2.2. 2.3 my 2nd year,and 2.4 my 3rd year and didnt have a wife then either....
2.1 is the minimum. get a TEFL cert, maybe do a bit of volunteering at a community center after school program, and talk up your qualifications and experience. target a big city like daejon,daegu or incheon and not only will there be less competition, you will be able to save more.
if you really wanna make a bit more cash and are willing to work, ask recruiters about POLY. They pay 2.5 min. plus benefits, but you have to work 9:00/9:30-7:30 |
The exchange rate and the rising living costs make those amounts different than today. Especially if you are American. As a Canadian the rates were equally terrible from the end of 2008 to 2013 and moderately ok from the end of 2007 to the end of 2008 and from the end of 2013 to the end of 2014. Prior to and after these dates it's been decent and helps a lot. But, even so, living costs are rising more and more. In my case, I make much more above average so Korea's still worth it to me. Provincial EPIK is great when you stay and climb the pay scale, plus some overtime, plus still getting renewal allowances. (But I have had CC and Student Loan debt to the moon and back.) A 2.1 offer wouldnt be worth it to me. As a newbie, do it for year if you must, then get out of dodge. Plan that from day one so you don't get trapped. |
The canadian dollar has tanked. I'd get $850 on 1,000,000 after fees 5 years ago, I got over $1100 a few months ago. A canadian who didnt save a dime (so yeah about 2,000,000 a month on food,leisure,travel) would still be close to $7000 with final pay,severance,pension refund. Most E-2's I know put away 500,000-1,000,000 per month. decent for a fresh grad looking to pay off debt and travel a bit |
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