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Korean Job Discussion Forums
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| How much do you plan/expect/realistically hope to take home after your time in Korea? |
| 0 - 10k US |
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22% |
[ 19 ] |
| 10k - 50k |
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38% |
[ 32 ] |
| 50k - 100k |
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6% |
[ 5 ] |
| 100k - 150k |
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4% |
[ 4 ] |
| 150k - 200k |
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1% |
[ 1 ] |
| 200k - 300k |
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8% |
[ 7 ] |
| 300k - 500k |
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2% |
[ 2 ] |
| 500+k |
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15% |
[ 13 ] |
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| Total Votes : 83 |
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SuperHero
Joined: 10 Dec 2003
Location: Superhero Hideout
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 Posted: Thu May 27, 2004 6:17 pm Post subject: |
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| Saving $10 mill a month is so easy. My wife and I have been paying our loan for the key money on our apartment 2.0 mil per month. that leaves 1 mill left from my salary and another 1.5 from hers (when she was working - she quit). |
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paperbag princess
Joined: 07 Mar 2004
Location: veggie hell
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| Posted: Thu May 27, 2004 6:44 pm Post subject: |
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| wow. i'm paying off student debt at home and i've not saved anything yet. think i should start doing privates or something... |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Fri May 28, 2004 2:58 pm Post subject: |
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| dutchman wrote: |
10,000 a year is difficult? I know I'm pretty frugal (some might say cheap) but is it really difficult to live on a million a month when you're only expense is food and booze? To get $10,000 a year all you have to do is put away a million a month. |
Canadian or Aussie dollars yes, but if you looked at my above post I was talking about American dollars. That's quite a bit harder to do.  |
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dutchman
Joined: 23 Jan 2003
Location: My backyard
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| Posted: Fri May 28, 2004 6:13 pm Post subject: |
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| TheUrbanMyth wrote: |
| dutchman wrote: |
10,000 a year is difficult? I know I'm pretty frugal (some might say cheap) but is it really difficult to live on a million a month when you're only expense is food and booze? To get $10,000 a year all you have to do is put away a million a month. |
Canadian or Aussie dollars yes, but if you looked at my above post I was talking about American dollars. That's quite a bit harder to do. |
But if you look at my post I'm talking about saving a million a month. That's 12 million a year. That's $10,000 US. Difficult? I don't think so. |
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phaedrus
Joined: 13 Nov 2003
Location: I'm comin' to get ya.
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| Posted: Fri May 28, 2004 6:30 pm Post subject: |
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| dutchman wrote: |
| TheUrbanMyth wrote: |
| dutchman wrote: |
10,000 a year is difficult? I know I'm pretty frugal (some might say cheap) but is it really difficult to live on a million a month when you're only expense is food and booze? To get $10,000 a year all you have to do is put away a million a month. |
Canadian or Aussie dollars yes, but if you looked at my above post I was talking about American dollars. That's quite a bit harder to do. |
But if you look at my post I'm talking about saving a million a month. That's 12 million a year. That's $10,000 US. Difficult? I don't think so. |
American, Canadian, Aussie, simple. For some.
I make 2.0 and support my wife who stays at home. I pay student loans 500,000 per month. She puts at least 1.0 in the bank each month. Don't ask me how, I can't.
Well...
She counts every won, and will walk twenty minutes to save 100 won on milk. All the power to her cause we're happy and setting aside some good dough for my salary. When I start doing "extra work" it'll really pile up. |
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kangnamdragon
Joined: 17 Jan 2003
Location: Kangnam, Seoul, Korea
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| Posted: Fri May 28, 2004 6:33 pm Post subject: |
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| paperbag princess wrote: |
| wow. i'm paying off student debt at home and i've not saved anything yet. think i should start doing privates or something... |
No, you should be happy you are paying off students loans. That is better than saving in an account which has a lower interest rate than your loans. It would not be good for anyone to recommend you do illegal activity. |
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Demophobe
Joined: 17 May 2004
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| Posted: Fri May 28, 2004 6:43 pm Post subject: |
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| phaedrus wrote: |
American, Canadian, Aussie, simple. For some.
I make 2.0 and support my wife who stays at home. I pay student loans 500,000 per month. She puts at least 1.0 in the bank each month. Don't ask me how, I can't.
Well...
She counts every won, and will walk twenty minutes to save 100 won on milk. All the power to her cause we're happy and setting aside some good dough for my salary. When I start doing "extra work" it'll really pile up. |
Yeah, my wife is the same. I think she has a printing press somewhere hidden in the house! Money goes through my hands like water, but she stashes a lot away. |
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Mosley
Joined: 15 Jan 2003
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| Posted: Sun May 30, 2004 2:09 am Post subject: |
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| For what it's worth(and I'm terrible w/money), this is my bit: regardless of interest rates, PAY OFF your debt before you worry about saving! Even if you only save 500 bucks/mo. after that, it's all gravy then.... |
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Crois
Joined: 18 Aug 2003
Location: You could be next so watch out.
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| Posted: Sun May 30, 2004 2:25 am Post subject: |
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| I think this is unfair. I have to convert won into pounds then into Dollars just to say how much i'll be saving. |
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phaedrus
Joined: 13 Nov 2003
Location: I'm comin' to get ya.
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| Posted: Sun May 30, 2004 3:10 am Post subject: |
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| Mosley wrote: |
| For what it's worth(and I'm terrible w/money), this is my bit: regardless of interest rates, PAY OFF your debt before you worry about saving! Even if you only save 500 bucks/mo. after that, it's all gravy then.... |
I would, except for key money, Korean hospital fees, and various other possible emergencies.
Currently I have housing provided in Korea, am in good health, and don't foresee unexpected calamity. However, no one is going to give me free housing or hospital visits just because I am paying my student loans double time.
I would love to be debt free, though. I will never have a mortgage. I'll live in a trailer first, but hopefully Korea will provide a nice big home in Canada. |
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Kiddirts
Joined: 25 Jul 2003
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| Posted: Mon May 31, 2004 5:02 pm Post subject: The secret |
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Here's the secret to making money in Korea. It took me 6 months working at a full-time hagwon to figure it out. GET OUT OF THE FULL-TIME CRAP. I am here in Korea by myself and in a bad month I easily send home $5,000 USD...that's saving $60,000 a year. With interest, $61,000 (ha).
1)Put down key money on a 2 bedroom apartment and advertise on English spectrum or whatever that one room furnished is about the price of your rent and advertise no key money...people will bite. It's even easier to pay NO RENT on a 3 bedroom. I actually know people who make money living at their 3 bedroom place for only throwing down 2 million in key. So here we have NO RENT.
2) Like I mentioned before, get out of the full time contract. It's ridiculous. Even if you have to go through recruiters...most of my jobs are through recruiters but they pay at 35,000 minimum. Business english at 40,000 or more.
3) Try to line up your schedule like a puzzle, keep to an area, you don't wanna travel too far, it's a waste of time. Try to mix in privates in the same area on Saturday. I don't need 2 days off a week. sundays are fine to relax and if I I need a Saturday off too, I take it, hence, privates on Saturday. My days are long, but it's teaching and talking English...not too stressful, right?
4) Some days are long, very long...but most people have dreams and are here to work and save money. So work when you can. My tuesdays and Thursdays alone bring me 475,000 a piece.
5) Here's another thing that helps...find a Korean girlfriend that has a lot of money, no job and likes to cook and clean, iron, etc... that leaves you with the ability to work all day and have nothing to worry about at home.
I'm hoping to stay here 2 years (after I figured this out), save exactly $100,000 (or over) with 2-one month winter vacations to Thailand to take a much needed break. What's sad is it took me 6 months working at a full-time hagwon to save what I can save in 2 months doing it this way.
I hope this helps, it's the only reason I'm still here... |
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Harin
Joined: 03 May 2004
Location: Garden of Eden
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| Posted: Mon May 31, 2004 6:06 pm Post subject: Re: The secret |
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| Kiddirts wrote: |
Here's the secret to making money in Korea. It took me 6 months working at a full-time hagwon to figure it out. GET OUT OF THE FULL-TIME CRAP. I am here in Korea by myself and in a bad month I easily send home $5,000 USD...that's saving $60,000 a year. With interest, $61,000 (ha).
1)Put down key money on a 2 bedroom apartment and advertise on English spectrum or whatever that one room furnished is about the price of your rent and advertise no key money...people will bite. It's even easier to pay NO RENT on a 3 bedroom. I actually know people who make money living at their 3 bedroom place for only throwing down 2 million in key. So here we have NO RENT.
2) Like I mentioned before, get out of the full time contract. It's ridiculous. Even if you have to go through recruiters...most of my jobs are through recruiters but they pay at 35,000 minimum. Business english at 40,000 or more.
3) Try to line up your schedule like a puzzle, keep to an area, you don't wanna travel too far, it's a waste of time. Try to mix in privates in the same area on Saturday. I don't need 2 days off a week. sundays are fine to relax and if I I need a Saturday off too, I take it, hence, privates on Saturday. My days are long, but it's teaching and talking English...not too stressful, right?
4) Some days are long, very long...but most people have dreams and are here to work and save money. So work when you can. My tuesdays and Thursdays alone bring me 475,000 a piece.
5) Here's another thing that helps...find a Korean girlfriend that has a lot of money, no job and likes to cook and clean, iron, etc... that leaves you with the ability to work all day and have nothing to worry about at home.
I'm hoping to stay here 2 years (after I figured this out), save exactly $100,000 (or over) with 2-one month winter vacations to Thailand to take a much needed break. What's sad is it took me 6 months working at a full-time hagwon to save what I can save in 2 months doing it this way.
I hope this helps, it's the only reason I'm still here... |
oh....the humanity..... |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Mon May 31, 2004 6:48 pm Post subject: |
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| SuperHero wrote: |
| Saving $10 mill a month is so easy. ). |
I want to work where you do. 10 million dollars a month? (your quote)
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Mon May 31, 2004 7:00 pm Post subject: |
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| dutchman wrote: |
| TheUrbanMyth wrote: |
| dutchman wrote: |
10,000 a year is difficult? I know I'm pretty frugal (some might say cheap) but is it really difficult to live on a million a month when you're only expense is food and booze? To get $10,000 a year all you have to do is put away a million a month. |
Canadian or Aussie dollars yes, but if you looked at my above post I was talking about American dollars. That's quite a bit harder to do. |
But if you look at my post I'm talking about saving a million a month. That's 12 million a year. That's $10,000 US. Difficult? I don't think so. |
Like I said it's doable. I do that myself. But how many people do you know who do this? And if you are married with kids (assuming the wife is not a native English speaker) there's no way anyone on a 2 million won salary is going to save $10,000. Yes if you are single or the wife is a native speaker then it becomes easier. Especially if you are of a frugal nature. Again though, how many people do this? If it weren't difficult everybody would be doing this. Then again maybe us old fogies have more self-discipline
Edit: Of the 65 people who voted only 13 (so far) think that it is possible to take home 500K or more. And I am willing to bet for nearly all of them that is an assumption. Who actually here has made 500K from teaching in Korea? |
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dutchman
Joined: 23 Jan 2003
Location: My backyard
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| Posted: Mon May 31, 2004 7:13 pm Post subject: |
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| TheUrbanMyth wrote: |
Like I said it's doable. I do that myself. But how many people do you know who do this? And if you are married with kids (assuming the wife is not a native English speaker) there's no way anyone on a 2 million won salary is going to save $10,000. Yes if you are single or the wife is a native speaker then it becomes easier. Especially if you are of a frugal nature. Again though, how many people do this? If it weren't difficult everybody would be doing this. Then again maybe us old fogies have more self-discipline
Edit: Of the 65 people who voted only 13 (so far) think that it is possible to take home 500K or more. And I am willing to bet for nearly all of them that is an assumption. Who actually here has made 500K from teaching in Korea? |
I saved 10 grand my first year here. I then spent six months with my girlfriend in Thailand pissing it all away. 
The question was not "is it possible "the question is "How much do you plan/expect/realistically hope to take home after your time in Korea?" .
Of course most people are not going to say 500k because they don't plan to spend that much time here.
If I stayed in Korea 4-5 more years I have no doubt we'd be leaving with 500k +. My wife and I have decided the money isn't worth it anymore. We're leaving to pursue other things. |
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