Korean Job Discussion Forums

Real Reality · Joined: 10 Jan 2003 Location: Seoul

100 listed firms pay average monthly salary of W4 million

Horangi Munshin · Joined: 06 Apr 2003 Location: Busan

Crap!!! So I'm only earning the average wage of the top 100 listed companies in Korea.,

Juregen · Joined: 30 May 2006

These people sit in their office 60 hours per week

give it a rest

shaunew · Joined: 17 Apr 2007 Location: Calgary

I earn more then the top 100 companies and only work 32 hours a week sweet *beep*.

garykasparov · Joined: 27 May 2007

Do you have all these linkes on file?

Tokki1 · Posted: Mon Sep 10, 2007 11:00 am Post subject:

I need a #^%* raise

safeblad · Joined: 17 Jul 2006

aarontendo · Joined: 08 Feb 2006 Location: Daegu-ish

Reading the article, first off good on those employees. However, one thing I am wondering. Is this article saying that those girls who are working the counter at the Hana Bank are pulling down that much dough? Are they serious?

I was laughing when my co-teacher said how much the bank employees made, doesn't seem to make sense. To be honest now I'm a bit upset, if they're making that much they can surely try to have SOMEONE there that can speak English on any given shift hehe.

normalcyispasse · Posted: Mon Sep 10, 2007 3:53 pm Post subject:

Damn, how can I get that salary?

hubba bubba · Joined: 24 Oct 2006

Does anyone know if the average "salaryman" gets anything like our end of contract bonus?

Also, anyone know of a link to all 100 companies and their starting wages?

thx.

Cheonmunka · Joined: 04 Jun 2004

hubba bubba, that is called severence pay and yes, every man I know gets not only his pension or severence by law, as we should, but also bonuses for Chusok, New Year and every second or third month for good work. We are underpaid, believe it.
Cripes, even public school teachers I know get bonuses of millions of won once every few months.

Hakwon directors are tight with profits.

Put it this way, will you afford an apartment and a big black car after working a few years, the same as most of the hakwon owners do - and more?

I know three people who run hakwons clearing 30 million per month.

Anyone want to do a start-up with me? I've got the right visa and qual. not quite the capital.

Unposter · Joined: 04 Jun 2006

I think a lot of people would be surprised what Koreans really earn. And, the report that Real Reality quoted is for new, fresh out of college employees too! And, often, these salary surveys don't include bonuses, so their salaries can be a lot higher!

The only thing to remember is that these jobs are quite competitive. Many people in their 40s and 50s are forced to quit their jobs because they cannot compete with the kids fresh out of college. Most people in these jobs save like mad and then when they are pushed out of their jobs they start their own buisness. This is why many young Koreans have become interested in Public service jobs as they are guaranteed till 60 and have very nice pensions.

But, the bonus of starting your own business is that you can cheat on your taxes! It is not just the hakwons that cheat on taxes, it is every other business you see on the street. Korea has one of the largest underground economies in the world. Everybody pays in cash and no one is really sure how much these businesses make. This is why the Korean government pushes credit card use. You get a tax break for using a credit card. When you use your credit card, there is a record of the transaction and the small business has to report it as income. So, many businesses offer discounts if you pay in cash and then the business, in turn, saves money by not reporting the transation.

The real reality is that there is a lot of money in Korea! And, few English teachers get a slice unless they teach illegally or own their own visa.

The_Conservative · Joined: 15 Mar 2007

You can't compare with working at a top company with working at a mom-and-pop hakwon. Same as back in the West.

If you work for a small private business you will make less than for a big company or firm. I don't understand why people don't get this. Also for the top jobs one requires qualifications. A B.A and a pulse don't cut it.

Also when you factor in the rent-free apartment we are doing all right

http://www.worldsalaries.org/korea.shtml

I make more than the average salary for teachers in salary alone ...and when you factor the apartment (a nice new 2 bedroom) and the airfare I'm doing considerably better than the average. There are people who are doing better than I am. For having a degree and a white face...it's not that bad.

There are good jobs out there to be had...but you've got to go get them. Sitting on your ass and complaining isn't going to change it.

meangradin · Joined: 10 Mar 2006

I previously posted something realted to this topic, but it was deleted by unknown forces. To restate my previous post, I was shocked when I learned about the Korean bonus system many Korean employees receive. They can receive at least 6-8 months in definte bonuses and can earn another 4-6 months if thier company does well that year. At the company I work for, they had a banner year, so the employees walked away with 26 months of pay that year. Consider that the average wage is 2-3 million a month, and it does seem very high. So when people say Koreans only earn 2-3 million a month, that may be true, but they get huge bonuses also, that more than make up for the low monthly salary.

Of course, many employees don't receive these types of bonuses, but all those employees of LG, Hyundai, SK, Samsung, etc... DO receive these benefits.

Add to this the added 'bonus' of the company paying for your child's education (including university), and sometimes free company housing, and you see that Koreans can make a great salary, especially compared with the poor E-2 teacher.

Donkey Beer · Joined: 20 Jul 2006

Well according to Korean shock news magazines we earn about 2 million per month + 400% teaching illegal privates.

Not too bad for a bunch of slackers who smoke weed and fondle their youngsters on a daily basis.