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Kuval
Joined: 19 Aug 2012
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 Posted: Sun Mar 24, 2013 8:49 am Post subject: Final Pay 1,870,000won per month. Supposed to be 2.1mill. |
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So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
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Skippy
Joined: 18 Jan 2003
Location: Daejeon
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| Posted: Sun Mar 24, 2013 9:33 am Post subject: |
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First off did you get a pay slip. If not why not! A nice pay slip will have the break down of taxes and that for you. Also if this has been going on for months? Uhmm what have you been doing?
Did a rough calculation the 200k seem typical. Maybe a touch over by 20k or 30k. Yet I could be wrong.
Second hint is trust but verify. Do verify that you pension and health insurance are actually well being paid? |
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Necompto
Joined: 21 Mar 2013
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| Posted: Sun Mar 24, 2013 2:57 pm Post subject: |
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| That sounds about right to me. 30,000 for apartment maintenance is low too. At my hagwon in Gangnam, most people paid 75,000-100,000. |
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shamash
Joined: 02 Jun 2012
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| Posted: Sun Mar 24, 2013 4:15 pm Post subject: |
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| I get about 1.95ishmil of my 2.2mil, so it sounds about right to me. Think 100k for pension, 60k for medical, 50k for housing, whatever for taxes. |
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DanielYessir
Joined: 18 Mar 2013
Location: Seoul
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| Posted: Sun Mar 24, 2013 6:04 pm Post subject: It's right |
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Yeah it's right or even under.
Pension = 4.5% of your monthly salary (your boss pays half for a total of 9%)
Health Insurance= 2.945% of your monthly salary (again your boss pays half for a totally of 5.89%
Taxes= I thought they were between 3% and 6% (depending on your salary and we are in the low or second lowest tax bracket)
Maintenance fee= 30,000 won which is cheap as Necompto mentioned. It could be WAY more.
So that's 94,500 + 61,845 +42,000 (it looks like your only paying 2%, which I heard was the rate for Canadians....) + 30,000= almost 230,000! |
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Otherside
Joined: 06 Sep 2007
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| Posted: Sun Mar 24, 2013 8:02 pm Post subject: Re: It's right |
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| DanielYessir wrote: |
Taxes= I thought they were between 3% and 6% (depending on your salary and we are in the low or second lowest tax bracket)
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Taxes are on a sliding scale, there's no fixed %, your actual % will change based on your salary. On a salary of 2.1m you should be paying approx 1.9% in taxes. |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Sun Mar 24, 2013 8:25 pm Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
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Otherside
Joined: 06 Sep 2007
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| Posted: Sun Mar 24, 2013 10:53 pm Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| No_hite_pls wrote: |
| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
GTFO troll. His salary is lower.. So is his cost of living. With your big ego, why aren't you running a multinational instead of posting here at Dave's? |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Sun Mar 24, 2013 11:42 pm Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| Otherside wrote: |
| No_hite_pls wrote: |
| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
GTFO troll. His salary is lower.. So is his cost of living. With your big ego, why aren't you running a multinational instead of posting here at Dave's? |
People are accepting too low of salaries and it's driving down wages. It's good point otherside. Don't be so touchy. |
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johnny_russian
Joined: 24 Dec 2012
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| Posted: Mon Mar 25, 2013 12:48 am Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| No_hite_pls wrote: |
| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
and yet a lot of people come to korea specifically to work and send money back home to pay off the thousands they accrued in student loans, because they are unable to pay off their loans living and working back home. funny that, isn't it. |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Mon Mar 25, 2013 1:45 am Post subject: |
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| and yet a lot of people come to korea specifically to work and send money back home to pay off the thousands they accrued in student loans, because they are unable to pay off their loans living and working back home. funny that, isn't it. |
A lot of people say they're here to pay off loans but how many of them actually graduated knowing what they wanted to do in their own country, tried to do it for a polonged period of time without success then gave up and came over here. I reckon most of them decided to come here fresh out of university as a kind of gap year experience. Nothing wrong with that of course but it sometimes distorts the truth about how difficult it actually is to get a decent graduate type job in the West |
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Kuval
Joined: 19 Aug 2012
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| Posted: Mon Mar 25, 2013 5:16 am Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| No_hite_pls wrote: |
| Otherside wrote: |
| No_hite_pls wrote: |
| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
GTFO troll. His salary is lower.. So is his cost of living. With your big ego, why aren't you running a multinational instead of posting here at Dave's? |
People are accepting too low of salaries and it's driving down wages. It's good point otherside. Don't be so touchy. |
I disagree with the notion that it's a "good point." If you add up the benefits I receive here, the year long vacation, the free housing, the multiple random other benefits (like company dinners, group outings, etc...), I mean... what more exactly do you want in life? I would be perfectly content if this was the quality of life I had until I died.
I won't own a mansion, or a helicopter... but why would I need to own those things? I make enough money to go on 2 vacations every year, and I never look at price tags in a grocery store. As a poor person that grew up below the poverty line, I'm pretty happy here. You can never look at "wage" as a measurement. You have to look at the complete package.
As a bartender I made $5.90 per hour. That was my wage. On New Year's Eve I made $600, and I had so many $300 nights (6h of work) that I can't even count. I don't remember getting less than $150 cash in my pocket per night. Yet I made "minimum wage." Wage doesn't measure anything, so I'm not buying that.
It sounds to me like you believe a bunch of unqualified pylons are flooding the work force which drives down prices for employers. I might agree with you, but I would add that only the worst schools will be accepting the lowest quality candidates. Go get a master's degree, then you can make huge bucks at a university- if that's what you're after. Still, the top hagwons get the top teachers. This is just the way it is. I'm sorry if you're having a rough time, maybe it's time for some internal reflection.
My job is also in Anseong... which is farmland. I'm in the top 10% of wealthy people in my city, and these people have nothing. Here, I'm a king. I mean, poverty only exists in relativity. You're right though, I could make a ton of money back home. I'd be getting taxed a lot more, I wouldn't enjoy my job as much, I wouldn't get the experience, but man oh man... those dollarsssssss! I dunno, I've always been of the opinion that the things money helps you get are important... the money itself doesn't really matter. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Mon Mar 25, 2013 5:16 am Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| No_hite_pls wrote: |
| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
How convenient of you not to factor in benefits like health care (50% paid by employer, pension 50% paid by employer), airfare (paid by employer), housing (rent free with a minimal monthly utilities fee), lower income tax vs back home, severance...
Its ok, facts can get in the way of making a point. 
As for wages, they have dropped or stagnated for newbies. This largely due to a rather important market shift as a result of the US 2008 economic meltdown. That drove tons of applicants to Korea and turned the market from an employees market to an employers market. The Korean economy also showed signs of a slowdown. The result is that employers now are faced with tons of applicants and can be picky. These applicants prefer a job (even a lower salary than before in Korea) to NO JOB at all and who can blame them. It is so easy to slam people who accept these "low wages" but frankly, if you were faced with no job prospects, you might start to think 2.1 in Korea with housing and airfare becomes an attractive option... |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Mon Mar 25, 2013 2:55 pm Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| PatrickGHBusan wrote: |
| No_hite_pls wrote: |
| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
How convenient of you not to factor in benefits like health care (50% paid by employer, pension 50% paid by employer), airfare (paid by employer), housing (rent free with a minimal monthly utilities fee), lower income tax vs back home, severance...
Its ok, facts can get in the way of making a point.
As for wages, they have dropped or stagnated for newbies. This largely due to a rather important market shift as a result of the US 2008 economic meltdown. That drove tons of applicants to Korea and turned the market from an employees market to an employers market. The Korean economy also showed signs of a slowdown. The result is that employers now are faced with tons of applicants and can be picky. These applicants prefer a job (even a lower salary than before in Korea) to NO JOB at all and who can blame them. It is so easy to slam people who accept these "low wages" but frankly, if you were faced with no job prospects, you might start to think 2.1 in Korea with housing and airfare becomes an attractive option... |
In most of the countries I mentioned health care is free if you make minimum wage. You also will not pay s--t for taxes if you are only making minimum wage. The first 11,000 you make in Canada is non-taxable. You will get a rebate check for any sales tax you have paid too.
Airfare is benefit? How are you suppose to get here if it wasn't a benefit.
Ok 2.1 salary in 2005 would have been around 2,300 CAD, when minimum wage in Canada was around 7 dollars an hour.
Today 2013 2.1 salary would been around 1,900 CAD and minimum wage is 10.25 now in Canada.
Canada is better option for Canadian college grads than Korea in 2013. |
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singerdude
Joined: 18 Jul 2009
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| Posted: Mon Mar 25, 2013 3:21 pm Post subject: Re: Final Pay 1,870,000won per month. Supposed to be 2.1mil |
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| No_hite_pls wrote: |
| PatrickGHBusan wrote: |
| No_hite_pls wrote: |
| Kuval wrote: |
So my employer has been paying me 1,870,000 per month... which is my salary, minus 200 bones a month for benefits/pension, and -30,000 for a monthly maintenance fee on my apartment.
Is this about right? Or am I getting ripped? |
Your wage is below the minimum wage of several of the countries (Australia, New Zealand, Ireland) that E2's are allowed to come from and very close to others (Canada, England).
I always thought that people who probably spent thousands on a university education should be making more than minimum wage. |
How convenient of you not to factor in benefits like health care (50% paid by employer, pension 50% paid by employer), airfare (paid by employer), housing (rent free with a minimal monthly utilities fee), lower income tax vs back home, severance...
Its ok, facts can get in the way of making a point.
As for wages, they have dropped or stagnated for newbies. This largely due to a rather important market shift as a result of the US 2008 economic meltdown. That drove tons of applicants to Korea and turned the market from an employees market to an employers market. The Korean economy also showed signs of a slowdown. The result is that employers now are faced with tons of applicants and can be picky. These applicants prefer a job (even a lower salary than before in Korea) to NO JOB at all and who can blame them. It is so easy to slam people who accept these "low wages" but frankly, if you were faced with no job prospects, you might start to think 2.1 in Korea with housing and airfare becomes an attractive option... |
In most of the countries I mentioned health care is free if you make minimum wage. You also will not pay s--t for taxes if you are only making minimum wage. The first 11,000 you make in Canada is non-taxable. You will get a rebate check for any sales tax you have paid too.
Airfare is benefit? How are you suppose to get here if it wasn't a benefit.
Ok 2.1 salary in 2005 would have been around 2,300 CAD, when minimum wage in Canada was around 7 dollars an hour.
Today 2013 2.1 salary would been around 1,900 CAD and minimum wage is 10.25 now in Canada.
Canada is better option for Canadian college grads than Korea in 2013. |
You forgot to mention rent. Big point there. The average rent in the US is $800. A quick check on google told me the average bachelor place in Canada is in the range of 600-700/month. Factor in that you would be paying that after taxes and it would cost you(at least in the US) more than 20% on top of that. So add at least 800-900,000 to your salary, factoring in the exchange rate. Now it's more than minimum wage. |
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