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EPIK Re-signing bonus

 
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Awesomo



Joined: 30 May 2008
Location: Gangwon, Korea

PostPosted: Wed May 20, 2009 8:52 am    Post subject: EPIK Re-signing bonus Reply with quote

I'm currently a Middle School Teacher in the Gyeongnam province and really want to transfer to the Gangwon province next year. I'm trying to bring a friend from my city with me and bring in a new friend from back home to Korea as well. I was deflated quite a bit today by a recruiter I talked to that said I will probably not get a re-signing bonus. 2 Million Won is a lot of money to be missing out on just because I want to move. Is it true that I can't get a re-signing bonus if I stay in EPIK but move provinces? Is there any way to convince them to give me a small bonus instead of none at all?
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cruisemonkey



Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.

PostPosted: Wed May 20, 2009 11:37 am    Post subject: Reply with quote

While it's true you won't get the 2 mil. 'renewal allowance' (it's not a re-signing bonus) if you change POEs, you'll get a 1.3 mil. 'exit allowance' from your current, Gyeongsangnam-do job, and a 1.3 mil. 'entrance allowance' from your Gangwon-do job... so you'll actually be W600,000 ahead.
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RufusW



Joined: 14 Jun 2008
Location: Busan

PostPosted: Wed May 20, 2009 3:47 pm    Post subject: Reply with quote

From their website -
Quote:

"Renewal Allowance
2,000,000 KRW will be provided upon successful completion and renewal of your contract with the same POE. In this case, the other allowances (Settlement, Entrance, and Exit) do not apply."


Including the settlement allowance you actually lose out on 900K if you renew at the same school/province. wtf!?
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cruisemonkey



Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.

PostPosted: Wed May 20, 2009 4:36 pm    Post subject: Reply with quote

RufusW wrote:
Including the settlement allowance you actually lose out on 900K if you renew at the same school/province. wtf!?


True... but you do get an extra two weeks of paid holidays (home leave); and, you don't have to move. Wink
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RufusW



Joined: 14 Jun 2008
Location: Busan

PostPosted: Wed May 20, 2009 5:04 pm    Post subject: Reply with quote

But.....but this is just worse for EPIK! 900K is nearly a month's savings, people will want to move! And new visas are easy enough to get in-country, I think?

I suppose they're not going to stop you applying to the same POE however. They're not going to force you to renew or get out. And if your school really wanted you, you could get them to request you. +900K!
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TheUrbanMyth



Joined: 28 Jan 2003
Location: Retired

PostPosted: Wed May 20, 2009 5:08 pm    Post subject: Reply with quote

cruisemonkey wrote:
While it's true you won't get the 2 mil. 'renewal allowance' (it's not a re-signing bonus) if you change POEs, you'll get a 1.3 mil. 'exit allowance' from your current, Gyeongsangnam-do job, and a 1.3 mil. 'entrance allowance' from your Gangwon-do job... so you'll actually be W600,000 ahead.


You don't get the 'entrance allowance' if you are hired within Korea. You only get W500,000 in that case.
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TheUrbanMyth



Joined: 28 Jan 2003
Location: Retired

PostPosted: Wed May 20, 2009 5:18 pm    Post subject: Reply with quote

RufusW wrote:
From their website -
Quote:

"Renewal Allowance
2,000,000 KRW will be provided upon successful completion and renewal of your contract with the same POE. In this case, the other allowances (Settlement, Entrance, and Exit) do not apply."


Including the settlement allowance you actually lose out on 900K if you renew at the same school/province. wtf!?



No you don't. You get an exit allowance of 1.3 million. Then if you DON'T re-sign you get an allowance of W500,000 if you are hired within Korea.

If you go home though, that easily eats up the 1.3 million exit allowance. You do get the 1.3 entrance, but in that case you are only 1.3 ahead as opposed to the 2 million. Even if you stay in Korea and don't go home, you are only 1.8 million to the good (1.3+.5) as opposed to 2 million.

It's better to stay at your school...you'll make a net gain of W200,000.
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RufusW



Joined: 14 Jun 2008
Location: Busan

PostPosted: Wed May 20, 2009 5:32 pm    Post subject: Reply with quote

Or organize your new E2 in Thailand/ China and get 1.3+1.3+0.3 (2.9)?

Where did you get the 500K figure from?
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OculisOrbis



Joined: 17 Jul 2006

PostPosted: Wed May 20, 2009 5:34 pm    Post subject: Reply with quote

After completing a contract without re-signing, you would get either the cost of a ticket home or a ticket elsewhere that was less than your flight home. if you were not leaving korea, you would get 500 000 in lieu of airfare.

the new travel allowances replaced both the airfare and 500 000 options. you now get 1.3 mil if you choose not to renew - regardless of whether you stay in korea or not - and 2.0 mil for re-signing.

if your POE added a 500 000 clause for not flying, they are severe asshats because the intent was to replace the cost reimbursement/500 000 options and give the same amounts to everyone.

cebu pacific flights are dirt cheap if you book months in advance. if you know they are going to pull the 500 000 BS, then book a flight for end of FEB now and spend a few days in the Philippines to get 1.3 mil. your flight could be as low as 150 000 return so you would have 1.15 mil leftover to play with.
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TheUrbanMyth



Joined: 28 Jan 2003
Location: Retired

PostPosted: Wed May 20, 2009 6:45 pm    Post subject: Reply with quote

RufusW wrote:
Or organize your new E2 in Thailand/ China and get 1.3+1.3+0.3 (2.9)?

Where did you get the 500K figure from?


From my contract which states that if you are hired in-country then you only get 500,000 won for signing, not the 1.3. That's the 2009 EPIK (EPIC) contract for Chungnam province though...so EPIK contracts for other provinces/dates may be different.
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TheUrbanMyth



Joined: 28 Jan 2003
Location: Retired

PostPosted: Wed May 20, 2009 6:50 pm    Post subject: Reply with quote

OculisOrbis wrote:
After completing a contract without re-signing, you would get either the cost of a ticket home or a ticket elsewhere that was less than your flight home. if you were not leaving korea, you would get 500 000 in lieu of airfare.

the new travel allowances replaced both the airfare and 500 000 options. you now get 1.3 mil if you choose not to renew - regardless of whether you stay in korea or not - and 2.0 mil for re-signing.

This is correct. However if you move to a NEW job without going home in the interval, the EPIK contract for Chungnam stipulates that you will only get 500,000 won.

if your POE added a 500 000 clause for not flying, they are severe asshats because the intent was to replace the cost reimbursement/500 000 options and give the same amounts to everyone.

cebu pacific flights are dirt cheap if you book months in advance. if you know they are going to pull the 500 000 BS, then book a flight for end of FEB now and spend a few days in the Philippines to get 1.3 mil. your flight could be as low as 150 000 return so you would have 1.15 mil leftover to play with.


Hmm.. Guess I better start looking for flights to the Philippines.
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OculisOrbis



Joined: 17 Jul 2006

PostPosted: Wed May 20, 2009 7:48 pm    Post subject: Reply with quote

Then they didnt follow through on what they said they were going to do because i attended the chungnam teachers meeting where the 2009 contracts were discussed and the POE english edu supervisor said that it would be 1.3 + 1.3, or 1.3 + 2.0 for decline and renewals.

since the ticket submission requirement was removed from the equation - everyone would get the same and the 500 000 clause was not in the draft contract.

too bad. if that is the case, then my opinion of chungnam POE has been tarnished. i previously had nothing bad to say about them.
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cruisemonkey



Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.

PostPosted: Thu May 21, 2009 11:59 am    Post subject: Reply with quote

The Chungnam POE has really 'cheaped out' with the W500,000 for employees hired in Korea.

In my province, prior to March 2009 when 'allowances' replaced airfare, the policy was - employees hired in Korea, but who returned home before starting their contracts, would have their one-way airfare to Korea reimbursed.

Now, everyone (no matter where they are when first hired) gets the 'flat rate' 1.3 mil. entrance allowance.
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B of NC



Joined: 08 Feb 2009

PostPosted: Thu May 21, 2009 12:08 pm    Post subject: Reply with quote

So when I applied to EPIK I requested Chungnam. When you guys talk about them being cheap is it usually just with these allowances and bonuses or do they follow along and kinda skimp on everything?
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OculisOrbis



Joined: 17 Jul 2006

PostPosted: Thu May 21, 2009 4:28 pm    Post subject: Reply with quote

first i've heard of their cheapness,,,,,last year they paid OT or better for all extra classes - even if you had not capped your 22 hours and they fell within the 9-5 schedule - and also paid for vacation classes/camps when they were not required to. in addition, i was not required to seat warm during school vacation periods, it added up to A LOT of free time.

this was in my particular district though, i cant speak for all of chungnam POE

what i hear by reputation, chungnam is rated in the near the top of all POE's in the country. it would be very difficult to do much better, but you could easily do much worse.
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