Korean Job Discussion Forums

[humbom]

1,800,000.00 KRW (average monthly salary) = 1,286.854 USD

This was today's currency conversion from Won to Dollar. The Won just keeps on dropping. Who the hell in their right mind would come to Korea and put up with this chaotic mess of an education system for $8 an hour?!?!? Most people don't understand that South Korea is sitting right beside America in this economic rollercoaster, if the US economy gets worse, so does the Korean economy and the value of the Won. Without an increase in demand for their exports, the Won is worthless and will continue to get worse. If the U.S. economy gets much worse (and it will!), the Korean Won will get worse, and the less you will make!!!!!!!!
I have been monitoring the Won for months now and I thought for sure that 1,300 USD would be the floor for currency conversion of 1,800,000 KRW, but no, it keeps dropping! **** THIS! If this trajectory continues (which it will!), then you will soon be working for $7 an hour, if not less...

DO NOT COME TO KOREA FOR THE NEXT YEAR OR TWO!!!!!!!!!!!!!!!!!!!!!!!!

[Morning_Star]

I agree that if you're going for the money then it's a bad idea but I'm going for the experience so I could care less.

[DC in Suwon]

This thread is pretty much useless.

I would think anyone coming here (regardless of reasons) would look at the current dollar/won ratio to get an idea of $.

Add this to the "I HAVE HATED KOREA FOR THE PAST 3 YEARS BUT STILL HERE" -type threads.

[loralh]

And of course not everyone coming here is converting into US dollars.

[sobriquet]

Who works for 1.8 million anyway?

[the oak llama]

I will be making just as much if not quite a bit more than what I make now working two jobs to pay rent, utilities, and car insurance in a major american city.

I knew the rent would be high but the car insurance is an injustice.

[the oak llama]

more vacation as well.

[lifeinkorea]

[michaelambling]

Some people don't do math.

Let's take Joe Shmoe, teaching 25 hours a week at Yu Suk Hagwon for 2.2m krw a month. This turns into 2127400krw after taxes, or 1529.60USD. On top of that is the free housing, which we'll say is worth 500USD a month (although that's generous). Now we've got to 2029.60USD. According to paycheckcity.com, that would translate to 32,000/yr. gross pay in California.

That's not a great salary, but it's not horrible either, and is pretty much what a fresh liberal arts graduate can expect.

[the oak llama]

I did not explain myself correctly.

I am very much for coming over to Korea. I am currently working in the US and paying rent and all that and more than half of what I make goes just towards my apartment and my car (part of my situation now is due to poor decision making...anyway).

I am selling my car, shedding my "things" and I will be netting more in Korea even considering the not so awesome won forecast.

I would be stupid not to do it.

[Goku]

[Yu_Bum_suk]

Newbie American teachers who need to pay bills back home probably should think twice. But for many others there are still good reasons to come and / or stay here.

[Thewhiteyalbum]

another Americancentric thread.

I sent 5 million won home last week and got $7000 for it. Okay, That money isn't worth much outside the country...but I have an extra $5000 waiting for me when I get home. South Korea is a great place for NZers at the moment!
(although I doubt it will stay that way...)

[uhfotis]

The stat is a bit deceptive since you can live like a king here for dirt cheap.. Plus all the free perks like housing, not needing a car or insurance, etc. and if you took a job at 1.8 you probably deserve what you get

[Ukon]

1.8 is for SMOE, however you get a payraise with a online tefl certificate....also you can always get after school classes and privates...

If your getting 1.8 from a hagwon, your brain dead.