Korean Job Discussion Forums

[OBwannabe]

I was online using a net pay calculator trying to figure just home much I would have to make per/hr back in Canada to make a go of it since I'm moving home in a few days. Pretty scary stuff.

To just meet my basic necessities(no drinking, new clothes, entertainment, emergencies, savings, etc) I would need to make $15/hr for 40hrs/wk. Anything on top of that would actually allow some sort of life.

Then I did a similar calculation for someone teaching in Korea for 2.3/mth. I figure 225k deduction from the paycheck(much of which goes to pension, so that's awsome), 200k on average for monthly bills, 50k for transportation if you take advantage of the buses and subway, 280k for food if you cook for yourself. And in my case I have to send 500k to pay the minimum on my student loans. That still leaves 1045k/mth to do what you want with. Assuming you are living in school provided housing.

So with that said, theoretically you could save 12 million won/yr. Now bear with me, I know that is unrealistic, this is just for comparisons sake. And you also have to consider severance and pension. That would push it over 16mill/yr.

After only meeting the basic needs in this scenario in Canada, you'd have to make 60,000/yr. That's so depressing I don't envision making anywhere near that at first.

I think I've already come to the realization that I'll be back in Korea within months.....

Feel free to discuss. The topic that is, not my crap grammar and typos. It's after 4am and can barely see the keyboard.

[OBwannabe]

In case I didn't mention it, yes I'll be running a car that's paid for while back home. That was added into the calculation.

[oldtactics]

It's also worth noting, although depressing, that finding a job in Canada that pays $15 an hour is near-impossible if you don't have any work experience. Depending on your field, of course, but recruiters for office jobs in Toronto are apparently getting hundreds of applications per $12 temp job, and a lot of those people have Masters. It's not a great time to be looking for a job unless you work in a specialized industry.

At $12 an hour minus essentials of life, I can't figure out how anyone could possibly get out of debt, nevermind save for the future.

[kimchipig]

Herein lies the rub: I worked for eight years in Korea and once you hit a university, your prospects of promotion are ZERO. The time you spend in Korea will not improve your career back in Canada. Eventually you will have to go back and start at the bottom. Thus, the time you spend in Korea could be used to build your career in Canada. You might make decent money (by university student standards, anyway) in Korea, but you are never really going to see it go up.

Stories about guys making a gazillion dollars teaching Englishie in Korea are, in my experience, just stories. I never actually saw it first hand. If you worked your behind off in Korea, you could make W4.0m a month clear but you are not going to last that long doing that and at present exchange rates that is $3500 CDN and compared to what I am making in Canada, that is not much. Mind you, I have spend many years building a business up in Canada. I did not start at the top. Taxes are really not high doing what I am doing because many of my daily expenses, such as cars and phones, and a myriad of others, are allowable business write-offs.

I left Korea six years ago and returned to Canada and I started at the bottom. Six years later I have built up a thriving tutoring business and I am making more, and saving more, than I would have ever dreamed in Korea. Sometimes I wonder where I would be now had I devoted the years I spent in Korea to building my career in Canada. I think I know the answer.

[bucheon bum]

[madoka]

[kimchipig]

Very true, my years in Korea did prepare my for my business in Canada. As for taxes in Canada, anyone making six figures can afford the taxes they pay as the system is progressive and that is only fair. I gather you are in the USA and you might be surprised if you actually knew the marginal tax rates in Canada, especially of you have children, which I do. Our American neighbours often, in my experience, have a rather unrealistic idea of our income tax rates.

Finally, I made pretty good money in Korea (by ESL teachers standards, anyway) with extra stipends for for being head teacher, vacation teaching sessions,etc, and after W2.5m the taxes kick in pretty good, as high as you will pay in Canada. Thing is few ESL teachers ever get into that bracket.

As an aside, in my first two years in Korea, 1994-1995, I was paid in cash and paid no taxes whatsoever.

And yes, the caliber of ESL teachers in Korea dropped a lot after the 1997 crash. Before that it was indeed lucrative when you could buy a Canadian dollar for W550 or so. From what I hear now, you are indeed correct that teaching in Korea lowers the welfare rolls here in Canada.