Korean Job Discussion Forums

[relaxedcognac]

I'm looking at getting a teaching job in Korea and wondering what potential monthly/yearly earnings might look like. Some ideas in FAQ forum, but no concrete answers to this specific question.

I know it varies depending on your chosen lifestyle, but what might average savings look like. I understand tutoring without expressed written consent of the employer (which they don't like to give) would violate your visa agreement and send you packing.

Thanks

[Dan The Chainsawman]

look up and find the search function.

[SPINOZA]

The search function is totally defective, Dan. Type "money, earnings, savings, monthly, year" into it and you'll be given irrelevant threads.

[Ya-ta Boy]

I agree. The search function is next to useless.


OPoster: Think 50%.

Depending on variables of course, most get by handsomely on about 50% of their income.

[just because]

Someone said 50% is a good target, I would agree.....

Some months you can save more and some months less

[saint57]

My experience is probably typical. My average take home earnings was about 2,300,000 won in 2003/04. If I really bucked down I could save about 1,000,000. That being said, I got really depressed with the lifestyle and went on many weekend getaways and TGIFridays/Outback a lot. I'd still save about 200,000 a month. I took an awesome trip to S.E. Asia after my contract and was still satisfied with what I saved. Given all the difficulties life in Korea can present, I think most people would say $10,000 saved is a respectable number. I was lower than this, but the extra money I spent helped me survive the ordeal. Is $10,000 in your bank worth what you'll go though? Only time will tell, but my guess is no.

[jinju]

You can save a LOT. And I mean a LOT.

[SPINOZA]

[khyber]

i read all these people saving all this cash...
I did NOT manage to save nearly that and i have NO idea where my money goes. That said, I made no sacrifice and could count the number of "no, better nots" on one hand.
With no problem, i managed to save about 8000$.
Yes, its not much compared to other folks...perhaps i just spend a lotta cash.
This year...my wife is helping out. And we should be able to send home about 2300$ a month (and we're living cheap AND we FINALLY won't have ot spend so much on gas...).

[jinju]

[thegadfly]

I think the 50% is a pretty accurate guess, but I think folks with sweet deals actually save more than that -- I think most folks can live comfortably on 1 - 1.5 million a month -- assuming 150,000 a week for food and a 200,000 a week-end entertainment budget...anything over 1.5 million would be easily set aside...more if you live on less a week...so folks that make 3-4 million a month and only spend 500,000-1 million can save a great deal of money....

[jinju]

[I-am-me]

Fairly easy to save $10,000 your first year. I might have saved more if not for spending the first three months here traveling around. No problem saving $1200 a month if you stick to a budget. By next year I hope to have about $30,000 saved! You can make extra money doing private tutoring. I usually use that money for expenses. Be wise and save!

[JeJuJitsu]

[Grotto]

salary 1.8 first year, saved about 600,000 won a month...but partied alot and spent alot.

Salary 2.1 second year, saved 1,000,000 a month...was in the middle of nowhere and there was little to spend money on.

Salary 2.64 third year sent home 1,500,000 a month also lived in the middle of nowhere.

Alot depends on your lifestyle...if you played hermit and ate as cheap as you could then you could probably save 70% of your pay...maybe more. If you plan on 50% then you should be able to have some fun.