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quin8670
Joined: 25 Sep 2010
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 Posted: Mon Sep 27, 2010 12:37 pm Post subject: Take Home Pay |
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Hi Guys,
I tried using the search function but it hasn't been working for me over the last 24 hours.
I'm just wondering what one's take home pay would be if they are Canadian and make 2 Million per month?
Thanks a lot |
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Cici88
Joined: 18 Sep 2010
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| Posted: Mon Sep 27, 2010 5:18 pm Post subject: Re: Take Home Pay |
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| quin8670 wrote: |
Hi Guys,
I tried using the search function but it hasn't been working for me over the last 24 hours.
I'm just wondering what one's take home pay would be if they are Canadian and make 2 Million per month?
Thanks a lot |
As of today, 2 million won is = to $1792 Canadian. |
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quin8670
Joined: 25 Sep 2010
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| Posted: Mon Sep 27, 2010 5:21 pm Post subject: |
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Thanks for the reply.
I'm primarily interested in the deductions and what my actual take home pay would be. |
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Cici88
Joined: 18 Sep 2010
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| Posted: Mon Sep 27, 2010 5:27 pm Post subject: |
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| quin8670 wrote: |
Thanks for the reply.
I'm primarily interested in the deductions and what my actual take home pay would be. |
Sorry I misread your post. |
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Nadia_M
Joined: 15 Jun 2010
Location: Daejeon, Korea
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| Posted: Mon Sep 27, 2010 6:23 pm Post subject: |
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| It depends on many things. The tax rate, your utilities, health insurance, national pension, if they're taking out a housing deposit. You can try to guess how much each is to get a ballpark figure, but you won't know the exact amount until you get paid. |
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RMNC
Joined: 21 Jul 2010
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| Posted: Mon Sep 27, 2010 6:32 pm Post subject: |
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| I'd say after taxes and all of your bills, you should be able to bank at least 1500 dollars. |
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quin8670
Joined: 25 Sep 2010
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| Posted: Mon Sep 27, 2010 6:45 pm Post subject: |
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| RMNC wrote: |
| I'd say after taxes and all of your bills, you should be able to bank at least 1500 dollars. |
Is that after food? |
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northway
Joined: 05 Jul 2010
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| Posted: Mon Sep 27, 2010 7:48 pm Post subject: |
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| quin8670 wrote: |
| RMNC wrote: |
| I'd say after taxes and all of your bills, you should be able to bank at least 1500 dollars. |
Is that after food? |
Is food generally subtracted from take home pay? |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Mon Sep 27, 2010 9:58 pm Post subject: |
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| Where I come from 'take home pay' means how much you receive in the currency you are being paid in after obligatory deductions have been made. In most teachers' cases, tax medical insurance and pension. So, as far as I can see, no one has answered the question yet. |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Mon Sep 27, 2010 11:38 pm Post subject: |
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they should hold out under 200k for everything, taxes, insurance, pension, etc. so, take your salary, minus 200k, that's what it is.
http://forums.eslcafe.com/korea/viewtopic.php?t=2665
http://forums.eslcafe.com/korea/viewtopic.php?t=45302&postdays=0&postorder=asc&start=0
http://forums.eslcafe.com/korea/viewtopic.php?t=2061
http://forums.eslcafe.com/korea/viewtopic.php?t=1313
http://forums.eslcafe.com/korea/viewtopic.php?t=16196
I could go on ad nauseam listing threads. As Nadia_M pointed out, we cannot give an exact number without knowing your exact salary.
People, learn how to use the internet. The search function on Daves is garbage, but that is no excuse! Simply go to google. Type in what you want to search for followed by "site:forums.eslcafe.com" and it will search just that site. You can make it more specific or less specific by adding or subtracting from the address, i.e. eslcafe.com, forums.eslcafe.com, forums.eslcafe.com/korea, etc...
As Mickey Avalon said, "Come on kid, don't waste my time." |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Sep 27, 2010 11:45 pm Post subject: |
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| quin8670 wrote: |
Hi Guys,
I tried using the search function but it hasn't been working for me over the last 24 hours.
I'm just wondering what one's take home pay would be if they are Canadian and make 2 Million per month?
Thanks a lot |
About 1,820,000 won after taxes, medical and pension if you are at a public school.
if you work for a hagwan then anywhere from 2 million to 1.9 million (assuming they are not enrolling you in NHIC and NPS (which unfortunately happens all to often).
The difference is the 9% of your salary that you get as a NPS refund when you return home and the lack of medical insurance while you are here.
From that take home you can expect to pay your regular bills for utilities, groceries, entertainment, etc.
What you have left for savings will vary from nothing (live the high life) to $1000 per month (comfortable lifestyle).
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RMNC
Joined: 21 Jul 2010
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| Posted: Tue Sep 28, 2010 1:40 am Post subject: |
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| edwardcatflap wrote: |
| Where I come from 'take home pay' means how much you receive in the currency you are being paid in after obligatory deductions have been made. In most teachers' cases, tax medical insurance and pension. So, as far as I can see, no one has answered the question yet. |
What, does my post not count or something? |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Tue Sep 28, 2010 3:46 am Post subject: |
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| He's Canadian, I assumed he wanted to know what he'd get after deductions in Korean won - the currency he quoted |
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murmanjake
Joined: 21 Oct 2008
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| Posted: Tue Sep 28, 2010 4:14 am Post subject: |
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There are also bills which are often handled through your hagwon, which would reduce your take-home pay as well.
They are tough to predict and depend on the season/location/luck so I'll let others delve into that one.
maintenance fee
gas/electric
phone
internet/tv |
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quin8670
Joined: 25 Sep 2010
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| Posted: Tue Sep 28, 2010 7:15 pm Post subject: |
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| murmanjake wrote: |
There are also bills which are often handled through your hagwon, which would reduce your take-home pay as well.
They are tough to predict and depend on the season/location/luck so I'll let others delve into that one.
maintenance fee
gas/electric
phone
internet/tv |
Yeah, I have read here and other places that saving 20k in a year if you are very very tight with money is possible. But I don't think 20k is remotely possible in Canadian dollars if you are making 2 Mil... |
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