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Earning Capacity??????????

 
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plutodog18



Joined: 01 Feb 2007

PostPosted: Sat Feb 03, 2007 2:46 pm    Post subject: Earning Capacity?????????? Reply with quote

I have reviewed hundreds of job posts and read very diligently through threads like Dave's Forums about jobs and salaries.

In fact one Forum very bluntly stated that at 20 to 2.3/month teachers are getting no more than unionized bus drivers.......

Curious as to how anyone feels as to their standard of living viz-a-viz the Korean community around them...........and if you feel you are able to save money about how much you have saved in a year period.....

Thanks.....

Smile
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dog_disco



Joined: 25 Apr 2006

PostPosted: Sat Feb 03, 2007 4:09 pm    Post subject: Reply with quote

...For the new uni grad with a b.a in anything the earnings potential as a teacher in Korea cannot be beat, when compared to that of entry level positions back home.

...Figure a salary of 2.3 m/month. After tax, pension + so forth, you will see 2 million each month. The exchange rate right now is off the hook: this breaks down to roughly 2,500 CAD/ month. Plus the month of severence at the end of the contract: that's 32,500$ after tax.

...Now, come tax time you can expect a certain amount back. You will also get something from the pension office when you leave. I am given to understand from co-workers this amounts to about another month of salary. So, we're at $35,000 more or less.

...At my school we have summer + winter camp. During these months we work twelve hour days (as opposed to the usual seven). On these months we take an extra million a month. Assuming you worked at my school you would be up to approx $40,000.

...The last major factor which figures into earnings per se is the free apartment. The (small-ish) office-tel apartments which we have typically go for around $500 /mo. So add $6,000 to the pile + we are getting very close to 50k.

...That's what you can make. The cost of living here is cheaper relative to home in so many ways: this includes food, drink, travel, most entertainment. In Korea you will find these things all cost less.

...For folks with a b.a. + not much practical / work experience or any kind of debt-load this country is a godsend.
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Horangi Munshin



Joined: 06 Apr 2003
Location: Busan

PostPosted: Sat Feb 03, 2007 4:14 pm    Post subject: Reply with quote

And that 2.0 to 2.3mill is for a typical 30 hours a week teaching!


If you work like some people I know, doing more than one job. It is quite possible to do legally these days. You can make a lot more than that.
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plutodog18



Joined: 01 Feb 2007

PostPosted: Sat Feb 03, 2007 4:26 pm    Post subject: Reply with quote

These comments are really helpful...Thanks......

Now one more question......I have an advanced degree ( and have taught nights and weekends in the US for 8 years....GED and Adult Continuing Education)..........is it realistic with that background to find a job paying 3.0/month plus overtime......

I have seen posts (though much less often) offering this. Are these just come on's where you will be short changed later or are they rare but real?

Thanks all who can help..........
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butlerian



Joined: 04 Sep 2006
Location: Korea

PostPosted: Sat Feb 03, 2007 4:32 pm    Post subject: Reply with quote

plutodog18 wrote:
These comments are really helpful...Thanks......

Now one more question......I have an advanced degree ( and have taught nights and weekends in the US for 8 years....GED and Adult Continuing Education)..........is it realistic with that background to find a job paying 3.0/month plus overtime......

I have seen posts (though much less often) offering this. Are these just come on's where you will be short changed later or are they rare but real?

Thanks all who can help..........


It's possible, but not necessarily easy if you are new to Korea and have few contacts. Korea is ideal for the relatively or completely inexperienced teacher, but more highly qualified teachers are often more appreciated in other countries. This is only a generalisation, of course, as every employer is different.
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