Korean Job Discussion Forums

[philinkorea]

Coming to Korea in a couple of weeks. Really want to save some cash. Seems like quite good option, people tend to say saving atleast 800k per month is possible. How would you compare this to what you may be doing at home. Most of my mates seem to be pretty much subsisting in England after tax, accom expenses, generally more expensive living. Really want to put some money away before coming back to England again

[itaewonguy]

well dude.. it depends on what you choose for your life here..
every city, every place has different circles you roll in..
will you be wanting to go out eating, drinking, party 2 or 3 nights a week?
you into clubbing? etc.. all these accounts you must look into..
I know if I went to london I would save a Quid! with all the clubs, bars etc... and new experience, parties blar blar.. but you can save money here if you really want.. you here to party or to work? or both??
its up to you bro...
but korea is not cheap when it comes to drinking... you make 2.0 a month you will burn through that pretty quickly if you have big weekends..
get a girlfriend etc...

work your arse off like me.. and then you can afford to party hard too!!

[the_beaver]

On paper I was making more money back home.

BUT

I can save 1.5 mil of my salary now without batting an eye AND I get 5+ months of vacation.

HOWEVER

If you're staying in Korea for only a year or two you won't get as cool a job as mine.

[Ilsanman]

I am doing about 100x better. I have not worried about money for 10 months. I forgot how to do it.

[justagirl]

Well, let's look at a very general cost of living at home (US) This is not including entertainment, just the basics.

$650 apartment
$150 utilities
$150 insurance (car, life, medical)
$120 gas/maint. for car
$400 food

Total: over $1,400 a month

Cost of living in Korea:

$0 apartment
$50 utilites
$0 insurance
$0 gas/maint. for car
$400 food

Total: $450

Amount I send home to the US every month: $1,000
Amount I'd have to make each month to save the same as in Korea: $2,400 (after taxes). Before taxes: over $3,000 (tax rate at 28%).

So I'd have to have a job at home that paid over $36,000 a year to equal what I'm saving here in Korea.

Did I do that right? Did I forget something? I just know that I'd NEVER be able to save as much at home as I do here....it still seems that way in my mind even if I was making 36K a year.

anyone else?

justagirl

[Juggertha]

I make a little less than I did back home ... ut yeah, back home I was struggling. Often living from one check to another.

Here its VERY easy to save money.

[Ilsanman]

I like how even after taxes and pension, my gorss earnings amount actually resembles my takehome pay. Back at home, tax rates are ridiculous funding my socialist province, I often lost several hundred doallrs to the tax man.

[ryleeys]

Given the type of salary I'll be making back home... $35k-$40k versus making about W260,000,000 a year here... I save roughly the same amount... it's just a question of whether I wanna eat kimchi or french fries every day at this point.

[justagirl]

um... 260,000,000 is about $216,000,000 a year. I want your job in Korea!!!

[ryleeys]

EDIT!!!

W26,000,000 per year


English teacher, not a math teacher... grrrr

[justagirl]

[ryleeys]

Oh, and W260,000,000 isn't $216,000,000 a year... it's $216,000 a year...


Though I'd still like that job.

[justagirl]

Ok, so neither of us are math teachers!

[Ilsanman]

I hate how people say I can't succeed in my own country. It's not true. In fact, I have earned more than I am now. Just, due to student loans, lifestyle, my car, and of course, taxes, I had a lot less extra money than now.

[Mashimaro]

My first job out of University paid more than this...
I have prospects at home, I just choose to ignore them