Korean Job Discussion Forums

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

Arguing from the fact that salaries went up significantly back around '98-'99 because of the fall of the won, it is possible that teachers' salaries will be negatively affected by the nose-diving dollar.

Does anyone see it differently?

hellofaniceguy · Joined: 10 Jan 2003 Location: On your computer screen!

For around 50 or so years...the Won was "stronger" than the US dollar. Even around pre-IMF it was around 800 Won. I am sure some old timers remember it being around 600 Won to the dollar.
IMF comes along and koreans are screaming, crying, jumping off bridges and buildings, etc...
Did the Americans complain for 50 years that the Won was "stronger?"
No.
So...if you are paid in Won...nows the time to buy dollars!! If it gets below 1000 Won...more better for teachers or those paid in Won!
Will salaries will be negatively affected by the nose-diving dollar? No reason why they should...unless teachers start signing BS contracts for 1.8/1.7, etc...
The dollar will always be one of the stronger currencies. It goes up an down.

Real Reality · Joined: 10 Jan 2003 Location: Seoul

"Will salaries will be negatively affected by the nose-diving dollar? No reason why they should...unless teachers start signing BS contracts for 1.8/1.7, etc..."

Did you see of the jobs on the Job board?

hellofaniceguy · Joined: 10 Jan 2003 Location: On your computer screen!

I just checked out the first 12 jobs on this site and only one was starting at 1.7. All the others are 2.0 and up.
1.7? A fool would agree to that.

shifty · Joined: 21 Jun 2004

Before the slide, there had been pressure on the Chinese to revalue or even float the yuan. Now it is yoked to the dollar and therefore this pressure must surely increase, as the dollar subsides.

Probably the Asian currencies will appreciate in concert against the dollar, so that Korea will remain competitive exportwise. The domestic Korean economy needs to be stimulated and there is a growing realisation that to conjure prosperity with an artificial currency is no answer.

I think the future looks bright for the thrifty efl'er.

Drakoi · Joined: 26 Sep 2003 Location: The World

only a fool would accept 2.0

canuckistan · Posted: Thu Nov 18, 2004 6:58 am Post subject:

The Canadian $ vs the Won is pretty bleh right now. When I got here in 2002 it was 750W to the $, last week I paid 939 Won...bleh!

ThePoet · Posted: Thu Nov 18, 2004 8:08 am Post subject:

All I can say is, I've never seen so many Uni jobs that only offer 1.65 - 1.85 before this year. I couldn't believe how low they offer...I guess they figure (and rightfully so based on the views) that because they are a Uni, they'll get people willing to take less for the "prestige" and low hours.

Poet

Yaya · Joined: 25 Feb 2003 Location: Seoul

Homer · Guest

Ok hellofaniceguy,

if 2.0 is foolish...what is reasonable for a newbie teacher with no experience?

Oh and don't forget to factor in free airfare, almost free accomodations in your equation of what is not foolish.

hellofaniceguy · Joined: 10 Jan 2003 Location: On your computer screen!

I didn't say 2.0 was foolish...I posted that 1.7 was.
Sure...airfare, housing, etc. are all perks of the job. But 1.7...
Schools pay basically the same pay to newbies or experienced teachers.
But why would anyone agree to it? Why are you working? For money!
What it a decent wage? That's a subjective impression.
But accepting or agreeing to a low wage is preventable by the mere exercise of personal responsibility.
Just because the school says..."that's the going rate does not mean it has to be so."
Schools say.."we have no students or are on hard times, etc...OK then...when you pick up a few more students...increase my salary. But the school won't."
And when it comes time for renewal...the owner "forgets" that you sweated and worked for a low wage for the year but just the same...will hire another teacher for the same pay and let you go!"
It's all about the MONEY!
Housing for free? Schools are not out of housing money...they pay it, the rent, up front in most cases and get the money back when you leave.
Some teachers are making 2.5 and up. But...they have the gift of gab and know how to play the ESL game in korea!
1.7 is fine...for 3/4 classes a day. Not 120 a month!
Not all hakwon owners are evil...hey...they just want to make a buck at your expense.
I would never agree to split shifts, shared housing or teaching over 5 classes a day at a hakwon for 1.7.
Even though the exchange rate is better...going from Won to dollars...it won't stay that way for very long.
1.7 is what? 1500-1600 US dollars a month? But you are not saving that much. Food, phone, transportation, clothes, etc.
If the school has around 150 students....usually 1 FT's and 2 Kt's depending on the schedule and each student is paying 150.000 Won a month...figure it out! The school is NOT hurting. It does not matter what other bills they have to pay or personal obligations, etc... The school will soon enough pay off their debts and have lots of cash. But...will they pay decent wages? Not if teachers sign for less.
I know a few schools who have 500 plus students! And teachers agree to 1.8 teaching 7/8/9 classes a day!! And they hate it! Well I tell them...why did you agree?
It's all about getting the best deal for yourself and if you are happy with it...who am I to say anything.
But...when teachers sign for low wages...it hurts ALL FT's because schools KNOW that someone will sign a contract for slave wages.

TheUrbanMyth · Joined: 28 Jan 2003 Location: Retired

chronicpride · Joined: 16 Jan 2003

MixtecaMike · Posted: Sun Nov 21, 2004 4:41 am Post subject:

Yaya · Joined: 25 Feb 2003 Location: Seoul