Read 2707 times

  • SanderB
  • Super Waygook

    • 442

    • June 02, 2018, 06:25:54 pm
    • Burning Oil Be Best
Salary
« on: April 02, 2019, 06:53:09 pm »
I just realised in another thread that 2,1 million is around 1600 euros which is minimum wage in Northern Europe.
« Last Edit: April 02, 2019, 06:58:58 pm by SanderB »
Fiat voluntas tua- What you want is allowed


  • L I
  • The Legend

    • 3219

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: Salary
« Reply #1 on: April 02, 2019, 08:00:06 pm »
Median monthly American earnings

Less than a high school diploma: $2,396 = 2.7 mil

High school diploma: $3,163 = 3.6 mil

Some college, no degree: $3,475 = 3.9 mil

Associates degree: $3,735 = 4.2 mil

Bachelors degree: $5,191 = 5.9 mil

Masters degree: $6,214 = 7.1 mil

Professional degree: $8,164 = 9.3 mil

Doctoral degree: $7,908 = 9 mil

https://www.bls.gov/emp/chart-unemployment-earnings-education.htm

(Also, there are benefits packages, which include money paid into one's retirement account. Multiple by 1.3 to find total renumeration.)


  • Mr C
  • Hero of Waygookistan

    • 1653

    • October 17, 2012, 03:00:40 pm
    • Seoul
Re: Salary
« Reply #2 on: April 02, 2019, 10:09:09 pm »
Median monthly American earnings

Less than a high school diploma: $2,396 = 2.7 mil

High school diploma: $3,163 = 3.6 mil

Some college, no degree: $3,475 = 3.9 mil

Associates degree: $3,735 = 4.2 mil

Bachelors degree: $5,191 = 5.9 mil

Masters degree: $6,214 = 7.1 mil

Professional degree: $8,164 = 9.3 mil

Doctoral degree: $7,908 = 9 mil

https://www.bls.gov/emp/chart-unemployment-earnings-education.htm

(Also, there are benefits packages, which include money paid into one's retirement account. Multiple by 1.3 to find total renumeration.)
Those numbers mean nothing unless you know the cost of living in a place.  I make 2.7 + decent housing + 1/2 healthcare + 1/2 pension.  But my standard of living allows me to have a steak dinner anytime I want and 2 or 3 nice vacations per year at awesome spots. 

To each his own, but I'm okay with my situation, which is better than it was back home.


Re: Salary
« Reply #3 on: April 02, 2019, 11:34:48 pm »
The pay hasn't really kept up well with the cost of inflation. I don't see how someone on 2.1 million won will ever retire with dignity.


  • SanderB
  • Super Waygook

    • 442

    • June 02, 2018, 06:25:54 pm
    • Burning Oil Be Best
Re: Salary
« Reply #4 on: April 03, 2019, 06:33:19 am »
Those averages are unrepresentative if you consider that US min. wage is $7,25=1120,- per month=1,27 mil. won

Fiat voluntas tua- What you want is allowed


  • hangook77
  • Hero of Waygookistan

    • 1093

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Salary
« Reply #5 on: April 03, 2019, 08:18:59 am »
Those averages are unrepresentative if you consider that US min. wage is $7,25=1120,- per month=1,27 mil. won

Most cities and states in the US are above that amount I do believe?  Most places are 10 or over?  Still not great.  But, the cost of living is rising here and that is affecting the living standard.  If you have a poor exchange rate and student loans to pay, I just can't see how 2.1 million will cut it anymore.  For now, if you are a rural 1+, the salary is alright.  But the days are coming when even that won't be enough. 

If Korea doesn't raise wages soon, more and more people will have to leave. 


  • Aristocrat
  • Hero of Waygookistan

    • 1666

    • November 10, 2014, 01:04:27 pm
Re: Salary
« Reply #6 on: April 03, 2019, 08:50:06 am »
The pay hasn't really kept up well with the cost of inflation. I don't see how someone on 2.1 million won will ever retire with dignity.

Depends on where you're from (not all of us are American), where you're retiring to, are you stupidly just putting your money in a savings account or are you making it work for you?

2.1 is around the starting salary and there are ways to bump it up:

- Build a relationship with your MOE. You'll find yourself being called on to do extra classes, presentations, camps etc.
   that's all money. They'll also offer you private lessons off the books.

- Get a housing allowance and start paying off your 전세. If you're intending on staying here a while, this is a no brainer

- Consider moving to a more rural area. Take advantage of the efficient postal service and have everything delivered
  while you cash in on the rural allowance.

- Teach at multiple schools, this is more likely in a rural area. 150k extra a month.

- Get a car. Nothing fancy, you'll save so much money and hassle not having to deal with taxi drivers out to kill you and
  plague infested busses.

- Hear me out on this, but consider getting married if your BF/GF is also an ESL teacher. A single Jeonsed apartment
  and you're both getting a 400k housing allowance goes a long way. Your workload gets cut in half and saving becomes
  a hell of a lot easier.


Re: Salary
« Reply #7 on: April 03, 2019, 09:03:09 am »
That's really good advice above from Aristocrat.


Re: Salary
« Reply #8 on: April 03, 2019, 09:34:02 am »
While I agree aristocrat’s advice is sound, I’d like to chip in my own advice. Dont work for 2.1! 2.1 is a miserable pitiful salary. A very large percent of people in Korea make a better salary than 2.1. Taxi drivers, nike store employees and factory workers to name just a few. None of those jobs require a university degree or leaving your friends and family. If you are accepting a 2.1 million won salary in 2019 you are doing yourself a disservice, and a disservice to the community of foreigners who live and work in Korea. You can do better!

T.C.


  • plan b
  • Veteran

    • 226

    • March 22, 2013, 11:53:06 am
    • Korea
Re: Salary
« Reply #9 on: April 03, 2019, 09:45:52 am »
While I agree aristocrat’s advice is sound, I’d like to chip in my own advice. Dont work for 2.1! 2.1 is a miserable pitiful salary. A very large percent of people in Korea make a better salary than 2.1. Taxi drivers, nike store employees and factory workers to name just a few. None of those jobs require a university degree or leaving your friends and family. If you are accepting a 2.1 million won salary in 2019 you are doing yourself a disservice, and a disservice to the community of foreigners who live and work in Korea. You can do better!

T.C.

Sometimes you have no choice. 2 million is the starting wage in GEPIK. You don't have much negotiating power.


Re: Salary
« Reply #10 on: April 03, 2019, 09:51:32 am »
Theres always a choice. I guess if 2.0 is your price its your price. What about 1.8? 1.5? How low can you go? Korea aims to find out lol.


Re: Salary
« Reply #11 on: April 03, 2019, 09:58:01 am »
While I agree aristocrat’s advice is sound, I’d like to chip in my own advice. Dont work for 2.1! 2.1 is a miserable pitiful salary. A very large percent of people in Korea make a better salary than 2.1. Taxi drivers, nike store employees and factory workers to name just a few. None of those jobs require a university degree or leaving your friends and family. If you are accepting a 2.1 million won salary in 2019 you are doing yourself a disservice, and a disservice to the community of foreigners who live and work in Korea. You can do better!

the main thing is, don't fly halfway around the world to take a 2.1 million a month job that doesn't include health insurance, pension, tax and national holidays off.  then you're really letting those schools get away with it.  the number of people who seem to be happy to come to Korea to work and accept 30/40 hours a week, without the benefits are crazy.  you want to come to Korea to enjoy your time but working that much, for so little, without benefits, lacks common sense.


  • AMDC
  • Veteran

    • 101

    • April 19, 2018, 08:00:49 am
    • South Korea
Re: Salary
« Reply #12 on: April 03, 2019, 10:29:12 am »
I know that the longer I stay here, the more jaded I get, but it's refreshing to think about what's offered in other countries. Most of the packages aren't as good as what Korea offers. Sure, we can list places such as China, Hong Kong, Saudi Arabia, etc which might offer higher salaries immediately. But Korea is a pretty damn good opportunity, if you can look past the stagnant wages and be smart about your money.

It's disappointing to find that salaries haven't been keeping up with inflation, but it's understandable. This is a very easy life. Depending on your school and your teachers, it can also be a very enjoyable life. Schools certainly aren't offering salaries to easily retire on, but there will always be an influx of new, young 'teachers' so long as people can have an enjoyable couple of years in a foreign country. You don't have to worry about a lot here. Low crime, rent taken care of -- it's a good life (if you can brush off the small stuff). And if you take it easy, don't go out every night, you'll have a decent chunk of change you'll be bringing back home.

The salaries are simply a result of supply and demand -- if the number of applicants is higher than the number of available positions, they have no reason to raise wages beyond the minimum wage requirements.

Sure it's easy to complain that people willing to 'work for peanuts' are ruining our chances for higher pay here, but who are we to say oncoming teachers should or shouldn't take the offered 2.1 salaries? People come here for a variety of reasons, and clearly many people each year continue to believe that this is a good opportunity for them, just as we did when we came here. And to be fair, most of us come ill-equipped to teach, with a random bachelor's and an online certificate. Most of us aren't exactly skilled laborers who can demand high salaries and stellar benefits.

If you're smart, like Aristocrat, you can make a good life for yourself. If you waste your money, you're probably better off elsewhere.


  • CypherSoul
  • Veteran

    • 152

    • May 02, 2018, 07:51:18 am
    • Daegu, South Korea
    more
Re: Salary
« Reply #13 on: April 03, 2019, 10:34:41 am »
Depends on where you're from (not all of us are American), where you're retiring to, are you stupidly just putting your money in a savings account or are you making it work for you?

- Build a relationship with your MOE. You'll find yourself being called on to do extra classes, presentations, camps etc.
   that's all money. They'll also offer you private lessons off the books.

- Hear me out on this, but consider getting married if your BF/GF is also an ESL teacher. A single Jeonsed apartment
  and you're both getting a 400k housing allowance goes a long way. Your workload gets cut in half and saving becomes a hell of a lot easier.

1) Thank you! British here so most of the times, things are different for us in terms of money and savings!

2) How do you build a relationship with your education office? Any tips? I wouldn't mind more work as I want to save more. Converting the won to pounds...its an unfortunate loss for us Brits! So if anyone can add any insight into this, that would be lovely.

3)Aye if I had that option of marriage I would take it  :laugh:

Slay My Life! Walk boo boo walk! Cat Walk for me boo boo! This isn't cat walking, this is a hyena walking! Lion walking! Tiger walking! Leopard walking! Enter my Queen!


Re: Salary
« Reply #14 on: April 03, 2019, 10:38:20 am »
While I agree aristocrat’s advice is sound, I’d like to chip in my own advice. Dont work for 2.1! 2.1 is a miserable pitiful salary. A very large percent of people in Korea make a better salary than 2.1. Taxi drivers, nike store employees and factory workers to name just a few. None of those jobs require a university degree or leaving your friends and family. If you are accepting a 2.1 million won salary in 2019 you are doing yourself a disservice, and a disservice to the community of foreigners who live and work in Korea. You can do better!

the main thing is, don't fly halfway around the world to take a 2.1 million a month job that doesn't include health insurance, pension, tax and national holidays off.  then you're really letting those schools get away with it.  the number of people who seem to be happy to come to Korea to work and accept 30/40 hours a week, without the benefits are crazy.  you want to come to Korea to enjoy your time but working that much, for so little, without benefits, lacks common sense.

yep.  as long as the benefits are there, 2.1 isn't bad.  plus not having to pay rent is pretty good too especially when factoring in the cost of living.   people keep forgetting to factor this cost into the salaries.  even using epiks pay scale, 2.7 plus housing will equal about 3.1 to 3.2 million won per month. 

depending on what your goals are for teaching overseas, whether it be korea or not, there is a lot you can do with 2.1.  start paying off your loans, travel, self study, etc. 

being able to manage your money and like aristocrat said, putting your money to work for you are key. 


  • CypherSoul
  • Veteran

    • 152

    • May 02, 2018, 07:51:18 am
    • Daegu, South Korea
    more
Re: Salary
« Reply #15 on: April 03, 2019, 10:48:41 am »
I have a question: How much do people manage to save from their salaries?

Like how much do you spend on food and other aspects of living?
Slay My Life! Walk boo boo walk! Cat Walk for me boo boo! This isn't cat walking, this is a hyena walking! Lion walking! Tiger walking! Leopard walking! Enter my Queen!


Re: Salary
« Reply #16 on: April 03, 2019, 10:57:30 am »
As I said everyone has a price or self-valuation? I value my time personally at much higher than 2.1 a month, but each and every person is different I guess. If youre happy working for 2.1 Im happy for you I just dont think that would ever be right for me.


Re: Salary
« Reply #17 on: April 03, 2019, 10:58:37 am »
I have a question: How much do people manage to save from their salaries?

Like how much do you spend on food and other aspects of living?

monthly food bill before having a kid was about maybe 300-400 if i want to go on the high end.  with a baby to feed now, it's probably an extra 100 or so.   formula and gerbers.  i would go to costco and load up on groceries.  ate lunches at school.  made my own dinner (i like cooking).   transportation was usually about 80 a month maybe even less because i liked walking to work. 
if there was something going on like the movies, zoo, etc. i always had the cash for that and still had plenty left over. 
it just comes down to budgeting.  once people actually sit down and see where their money goes, you'd be surprised how much you can save without having to make extreme cuts. 


Re: Salary
« Reply #18 on: April 03, 2019, 11:03:23 am »
2) How do you build a relationship with your education office? Any tips? I wouldn't mind more work as I want to save more. Converting the won to pounds...its an unfortunate loss for us Brits! So if anyone can add any insight into this, that would be lovely.

there are a few things here. 
-you need to keep in the mind of the coordinator, this is done over time, but when they gets calls from other schools or people outside of the school, they may put you forward. 
-if you are thought of well by your school, those good reviews can also filter through to the education office, increasing the likelihood of things being thrown your way.
-your 교무부장님 (school's head teacher, not P or VP) may take a job as a 장학사 (supervisor) at the education office and if they've got a good impression of you while working with you then if something pops up at the education office, they'll think of you. 
-this also goes with English teachers you work with who move to other schools.  as the native teacher numbers are shrinking, some schools have budget to get a foreign teacher, so keep friendly with your old co-teachers and they'll ask you first. 
-check with your own school.  if you are teaching in middle or high school, there are afternoon/evening classes available, so you need to let them know that you're available.
-if you see things like this in your area...

http://www.waygook.org/index.php?topic=116676.0

...with your school's permission, you can do it.  that is the case usually, if your school agrees then it's no problem. 
-word of mouth is a strong thing in Korea. 


Re: Salary
« Reply #19 on: April 03, 2019, 11:05:37 am »
Quote

The salaries are simply a result of supply and demand -- if the number of applicants is higher than the number of available positions, they have no reason to raise wages beyond the minimum wage requirements.

Sure it's easy to complain that people willing to 'work for peanuts' are ruining our chances for higher pay here, but who are we to say oncoming teachers should or shouldn't take the offered 2.1 salaries? People come here for a variety of reasons, and clearly many people each year continue to believe that this is a good opportunity for them, just as we did when we came here. And to be fair, most of us come ill-equipped to teach, with a random bachelor's and an online certificate. Most of us aren't exactly skilled laborers who can demand high salaries and stellar benefits.

If you're smart, like Aristocrat, you can make a good life for yourself. If you waste your money, you're probably better off elsewhere.

Agreed.
« Last Edit: April 03, 2019, 11:10:33 am by eggieguffer »