Korean Job Discussion Forums

JollyJekins · Joined: 16 Aug 2006 Location: Yorkshire Pudding

Hello, I am a businessman is Seoul. I was recruited by a Korean compnay to help them set-up internationally focused relationships with other businesses and countries. I feel they don't pay enough. I work almost 35 hours per week and am only making 5,500,000 per month.
I was wondering what the average business professional makes. I get a 500,000 housing allowance, is that the norm? Just wondering if I can negotiate a better contract next time.

laogaiguk · Joined: 06 Dec 2005 Location: somewhere in Korea

JollyJekins · Joined: 16 Aug 2006 Location: Yorkshire Pudding

I have a Bachelors in Computer Informations Systems and Linguistics, a MSc in International Business, and can speak Japanese, Spanish, Tagalog, and Bengali pretty fluently. I am still learning Korean. My job is to work as a liason between the U.K., Japan and some Latin American companies. I also manage some databases, create presentations, and as a translator. The top execs as well as my underboss speak better English than I.

ChopChaeJoe · Joined: 05 Mar 2006 Location: Seoul

I'd say you're getting screwed.

Real Reality · Joined: 10 Jan 2003 Location: Seoul

Top 50 companies hired more, paid less
The average annual salary for employees at those 50 companies, base salary plus bonus payments, dropped to 49.3 million won ($50,740), from 50.8 million won in 2004. Because of the companies' generally poor performance owing to the U.S. dollar weakening against the Korean won and a record-breaking rise in international oil prices, they reduced the bonuses given to employees.
by Lee Hyun-sang and Kwon Hyuk-joo, JoongAng Daily (April 03, 2006)
http://joongangdaily.joins.com/200604/02/200604022233527709900090509051.html

Daelim Pays Most to Employees
Workers at Daelim Industrial got the highest monthly wage of 6.8 million won on average, according to the KRX. But employees of SK GAS, the country�s largest importer of liquefied petroleum gas, which paid the highest monthly salary of 7.2 million won on average last year, received only 5.1 million won, ranking 14th. The Korea Development Corporation came in second as it paid an average monthly salary of 6.2 million won, followed by Seoul Broadcasting System (SBS) with 5.9 million won, becoming the country�s highest paying media company. Korea Exchange Bank took the fourth spot as it paid its workers an average 5.6 million won per month, followed by Doosan Heavy Industries and Construction with 5.5 million won.
By Lee Hyo-sik, Korea Times (August 16, 2006)
http://times.hankooki.com/lpage/biz/200608/kt2006081618114411910.htm

Contract workers profit, study finds
According to the federation's data, the average monthly wage -- annual salaries divided by 12 -- for a department chief on contract was measured at 4.5 million won ($4,300), while the average deputy department head received 3.8 million won per month.
by Suh Kyoung-ho, JoongAng Daily (December 05, 2005)
http://joongangdaily.joins.com/200512/04/200512042151449079900090509051.html

Asiaweek Salary Survey 2000
In The Company Of Millionaires
By YASMIN GHAHREMANI, Asiaweek VOL. 26 NO. 10 (March 17, 2000)
http://www.asiaweek.com/asiaweek/magazine/2000/0317/cover1.html

TheUrbanMyth · Joined: 28 Jan 2003 Location: Retired

laogaiguk · Joined: 06 Dec 2005 Location: somewhere in Korea

stevieg4ever · Joined: 11 Feb 2006 Location: London, England

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poet13 · Posted: Fri Aug 18, 2006 3:55 am Post subject:

35 hours a week in a non-esl job?

Enjoy it.

tzechuk · Joined: 20 Dec 2004

MSc in Internatinal Business - did you go to Birkbeck College????

Wangja · Joined: 17 May 2004 Location: Seoul, Yongsan

Only 35 hours? A dream. The pay sounds OK, allowances low, but depends on function etc etc.

JollyJekins · Joined: 16 Aug 2006 Location: Yorkshire Pudding

I went to Cambridge and UCE Birmingham, I hear the job outlook is very poor for Birbeck. Tzechuk, did you go to Birbeck? Where are you working? Just wondering......

PRagic · Joined: 24 Feb 2006

Depending on how far along you are in your career, I'd say just smile and say 'salary history'. Do some good work there, improve your Korean, and network into something that pays better.

Yes, I'm sure there are some here that make more for working the same or fewer hours, but your salary is enough to live on pretty well and save up some coin. Also, with your background it's better to stay corporate and angle for better jobs down the road. On the other hand, maybe you can just start up your own consulting company later on. Just my 2 cents.

mindmetoo · Joined: 02 Feb 2004

Remember the income tax rate here is 3.5% or there abouts. Maybe it's higher for your bracket. But lets say it's 5%. That's a gross of 72K a year with housing. Your take home is 68K a year. What do you have to gross in North America to get a take home of 68k? You need to make about 100K a year at least to net that. Add in the cost of living on all kinds of other things is cheaper than North America, as long as you live native. In Canada I let my A/C run all day, my monthly power bill jumps $200. In Korea, it jumps $50. The subway is half in Korea what you'd pay in North America.

You don't mention how many years experience you have. Are you North American or are you from SE or South Asia?

Compared to SE Asia, I'd say you're doing pretty well. Way beyond what a lot of doctors probably make in Korea even. And your hours are pretty short, assuming they actually allow you to only work 35 hours.

Cheonmunka · Joined: 04 Jun 2004

Count yourself fortunate, Bud.
I'm a registered high school teacher (post-grad qualified), 12 years + with Korean langauge learning (major of study) and usage, living here seven, two kids, vehicle, own house... yaddy yah, can't scrape up more than 3.5 on a good month.
I was thinking the other day about the very real uses of an MBA.
Because, unfortunately, a public school teacher's MA is worth half the business person's MBA.

I'd be fortuante indeed for the same income mentioned previously.