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  • NorthStar
  • Hero of Waygookistan

    • 1113

    • July 05, 2017, 10:54:06 am
    • Mouseville
The exchange rate of suck
« on: December 09, 2019, 08:34:21 pm »
Is this the new norm (at least for Americans)?  Will it get better (and by better, I mean under 1100 won)? 

As ti stands, it is 1190  won for $1.....perhaps it is just as well to phuck off to Thailand and work for $1500 a month?


  • gogators!
  • The Legend

    • 3914

    • March 16, 2016, 04:35:48 pm
    • Seoul
Re: The exchange rate of suck
« Reply #1 on: December 09, 2019, 09:14:14 pm »
With the "best ever" (according to a very uninformed observer) economy in the US, why not live and work there?


  • Cohort 2019
  • Super Waygook

    • 442

    • August 17, 2019, 08:09:23 pm
    • 90S.- 0'E
    more
Re: The exchange rate of suck
« Reply #2 on: December 10, 2019, 01:50:58 am »
USA BE BEST EVEREST ECONOMY AND STUFF no socialist stuff ever!
incumbo studiis


  • Colburnnn
  • Super Waygook

    • 365

    • August 10, 2015, 05:52:37 pm
    • South Korea
Re: The exchange rate of suck
« Reply #3 on: December 10, 2019, 07:39:58 am »
Grim for the UK too, has been floating around 66.5-68.0 sometimes even 69.0-70.0 for the past 4 years. Now? 63.5. Losing 50-60 quid per mil sent back (Or earning 100+ quid less per month)


  • Kayos
  • Hero of Waygookistan

    • 1528

    • March 31, 2016, 07:13:57 pm
    • NZ
Re: The exchange rate of suck
« Reply #4 on: December 10, 2019, 07:42:43 am »
I've been happy with NZ's rates TBH. Last time I sent a mil won back home, I got around $1300NZD after all fees and stuff.


  • OnNut81
  • Hero of Waygookistan

    • 1000

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: The exchange rate of suck
« Reply #5 on: December 10, 2019, 07:47:46 am »
Is this the new norm (at least for Americans)?  Will it get better (and by better, I mean under 1100 won)? 

As ti stands, it is 1190  won for $1.....perhaps it is just as well to phuck off to Thailand and work for $1500 a month?

Out of interest, what jobs are paying $1500 a month in Thailand.  I've been out of the employment loop there for some time, although I know the Baht has been running strong for quite some time. 


Re: The exchange rate of suck
« Reply #6 on: December 10, 2019, 07:50:52 am »
I know! I was wanting to change a sum and put it in a Citibank account so that I could start transferring my life, and get a bit better of an interest rate, but it seems with that bit of difference in rate, I stand to lose close to $1,400 .. So I am now thinking that I may need to wait and hope for the best.


  • thunderlips
  • Hero of Waygookistan

    • 1745

    • June 07, 2012, 10:01:55 am
    • South Korea
Re: The exchange rate of suck
« Reply #7 on: December 10, 2019, 09:15:13 am »
2008-2009 it hit over 1,500won to $1.  That sucked.


  • hangook77
  • Hero of Waygookistan

    • 1490

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The exchange rate of suck
« Reply #8 on: December 10, 2019, 11:55:31 am »
It's been bad for some countries for a while.  Combined with some jobs still lowballing salaries, why stay?  If it were me, I'd leave and go teach elsewhere where I could save more. 


  • Kayos
  • Hero of Waygookistan

    • 1528

    • March 31, 2016, 07:13:57 pm
    • NZ
Re: The exchange rate of suck
« Reply #9 on: December 10, 2019, 12:12:44 pm »
It's been bad for some countries for a while.  Combined with some jobs still lowballing salaries, why stay?  If it were me, I'd leave and go teach elsewhere where I could save more.

Japan lowballs a lot more. I think, Japan offers slightly more in terms of money, but you get more value out of the bonuses Korea offers.
China... Well, China seems to be in a bad state for foreigners now.
Vietnam, from what I've heard, it's a lot of work to start working there, but good once you get set up.
Taiwan, I've heard for public school jobs, you need to pretty much be there already, so maybe a year of hagwon style jobs first? (could be wrong here, just what I heard from someone who used to live there).
For EU, I've heard it can be difficult to find a decent job there.

Based on what I've heard / known from my own experiences. While Korea does have problems, it is still pretty decent in terms of salary / savings potential.
Or are you thinking of a place I haven't mentioned?


  • hangook77
  • Hero of Waygookistan

    • 1490

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The exchange rate of suck
« Reply #10 on: December 10, 2019, 01:44:25 pm »
It's been bad for some countries for a while.  Combined with some jobs still lowballing salaries, why stay?  If it were me, I'd leave and go teach elsewhere where I could save more.

Chinese tensions aren't affecting English teachers.  They still want English.  You can still get 20 plus thousand rmb salaries with some teaching experience.  !2 to 15 with a free apartment easily.  Vietnam, you may need a couple of grand to start with but demand is there.  I have seen 1800 to 2500 US a month for folks with a TESOL and a degree.  Other Asian countries looking for folks with a TESOL, a degree, and some experience 2000 plus US a month.  All much cheaper living costs. 


Japan lowballs a lot more. I think, Japan offers slightly more in terms of money, but you get more value out of the bonuses Korea offers.
China... Well, China seems to be in a bad state for foreigners now.
Vietnam, from what I've heard, it's a lot of work to start working there, but good once you get set up.
Taiwan, I've heard for public school jobs, you need to pretty much be there already, so maybe a year of hagwon style jobs first? (could be wrong here, just what I heard from someone who used to live there).
For EU, I've heard it can be difficult to find a decent job there.

Based on what I've heard / known from my own experiences. While Korea does have problems, it is still pretty decent in terms of salary / savings potential.
Or are you thinking of a place I haven't mentioned?

As for Japan, not so hot.  But, I had seen many jobs getting lowballed a few years ago down to 230,000 Y.  But, now have seen quite a few jobs offering 270,000 Y this past spring and even some flight credit (which I had never seen before in japan).  Korea is a good deal if you make 3 million won a month or more with free housing.  It is equal in inflation terms to making 2.1 to 2.3 million from 2006 to 2009.  The cost of living was so much cheaper, the taxes a little less for foreigners, and the exchange rate was much lower.  Then, you could live frugally and end up with $1400 US in your bank after you wired your money home.  Now, you are lucky to get $650 US a month in your account.  You have a 5 or 6 hundred a month student loan payment, good luck.  It'll take you years to pay off.  Savings potential here now only marginally better than Japan on these new lower salaries.  Getting 1400 a month US meant you could pay off your student loans more quickly which was the whole point of going overseas to teach English and being away from friends and family.  Why come over here to struggle and just get by?  Wouldn't living home be more convenient?  If I didn't make what I make, I'd be gone.  If I lost my job and got offered 2.1 to 2.3, I'd laugh in their faces and hop to another country.  Similar pay or slightly more but much cheaper living cost and more savings potential. 

Only apologists or suckers would defend a 2.1 salary in 2019 when it was the same 12 years ago.  To each their own.  You will struggle here financially if you take it.  You won't get your loans paid off.  (I already did the math working out what a 2.1 salary could do this year versus 12 years ago.) 


  • confusedsafferinkorea
  • Waygook Lord

    • 5293

    • October 08, 2010, 01:02:32 pm
    • Zhubei, Hsinchu Province, Taiwan
    more
Re: The exchange rate of suck
« Reply #11 on: December 10, 2019, 02:10:27 pm »
It's been bad for some countries for a while.  Combined with some jobs still lowballing salaries, why stay?  If it were me, I'd leave and go teach elsewhere where I could save more.

Japan lowballs a lot more. I think, Japan offers slightly more in terms of money, but you get more value out of the bonuses Korea offers.
China... Well, China seems to be in a bad state for foreigners now.
Vietnam, from what I've heard, it's a lot of work to start working there, but good once you get set up.
Taiwan, I've heard for public school jobs, you need to pretty much be there already, so maybe a year of hagwon style jobs first? (could be wrong here, just what I heard from someone who used to live there).
For EU, I've heard it can be difficult to find a decent job there.

Based on what I've heard / known from my own experiences. While Korea does have problems, it is still pretty decent in terms of salary / savings potential.
Or are you thinking of a place I haven't mentioned?

For Taiwan public schools you don't need to be there. I was in the Philippines when I got my job here. You need to go through a recruiter though. I used Dewey.
There is no known medical cure for stupidity!


Re: The exchange rate of suck
« Reply #12 on: December 10, 2019, 02:33:23 pm »
Korea is a good deal if you make 3 million won a month or more with free housing.

Which nobody does other than the occaisional F visa. Most people are making like 2.1 to 2.4m plus free housing, which is still a good deal compared with salaries back home. And it's way easier to get a 2.1m+ job in Korea than to get a job making that money (plus the free housing) in our home countries. For a lot of people it's either make 2.1m+ in Korea and pay zero rent or live back home and make minimum wage working retail or in a shitty call center back home and pay housing on top of that. We all do the math and for like 99% of people it's worth making more money but having to put up with living in Korea.

Vietnam and China are legitimately hellholes. Thailand would be nice but you get paid less. In Japan you get screwed by the high cost of living. In Korea certain things are cheap and others are expensive, the free housing insulates you from a big part of the rising cost of living that hits Koreans, but you have to put up with living in a polluted and crowded country held together with duct tape.
Quote
Quote from: Mr.DeMartino on Yesterday at 01:40:32
    Trump is a liar and a con man.
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Quote from Mr.DeMartino on June 14, 2019 at 02:28:07
Donald Trump is a lying sack of shit


  • Kayos
  • Hero of Waygookistan

    • 1528

    • March 31, 2016, 07:13:57 pm
    • NZ
Re: The exchange rate of suck
« Reply #13 on: December 10, 2019, 02:44:00 pm »
It's been bad for some countries for a while.  Combined with some jobs still lowballing salaries, why stay?  If it were me, I'd leave and go teach elsewhere where I could save more.

Chinese tensions aren't affecting English teachers.  They still want English.  You can still get 20 plus thousand rmb salaries with some teaching experience.  !2 to 15 with a free apartment easily.  Vietnam, you may need a couple of grand to start with but demand is there.  I have seen 1800 to 2500 US a month for folks with a TESOL and a degree.  Other Asian countries looking for folks with a TESOL, a degree, and some experience 2000 plus US a month.  All much cheaper living costs. 


Japan lowballs a lot more. I think, Japan offers slightly more in terms of money, but you get more value out of the bonuses Korea offers.
China... Well, China seems to be in a bad state for foreigners now.
Vietnam, from what I've heard, it's a lot of work to start working there, but good once you get set up.
Taiwan, I've heard for public school jobs, you need to pretty much be there already, so maybe a year of hagwon style jobs first? (could be wrong here, just what I heard from someone who used to live there).
For EU, I've heard it can be difficult to find a decent job there.

Based on what I've heard / known from my own experiences. While Korea does have problems, it is still pretty decent in terms of salary / savings potential.
Or are you thinking of a place I haven't mentioned?

As for Japan, not so hot.  But, I had seen many jobs getting lowballed a few years ago down to 230,000 Y.  But, now have seen quite a few jobs offering 270,000 Y this past spring and even some flight credit (which I had never seen before in japan).  Korea is a good deal if you make 3 million won a month or more with free housing.  It is equal in inflation terms to making 2.1 to 2.3 million from 2006 to 2009.  The cost of living was so much cheaper, the taxes a little less for foreigners, and the exchange rate was much lower.  Then, you could live frugally and end up with $1400 US in your bank after you wired your money home.  Now, you are lucky to get $650 US a month in your account.  You have a 5 or 6 hundred a month student loan payment, good luck.  It'll take you years to pay off.  Savings potential here now only marginally better than Japan on these new lower salaries.  Getting 1400 a month US meant you could pay off your student loans more quickly which was the whole point of going overseas to teach English and being away from friends and family.  Why come over here to struggle and just get by?  Wouldn't living home be more convenient?  If I didn't make what I make, I'd be gone.  If I lost my job and got offered 2.1 to 2.3, I'd laugh in their faces and hop to another country.  Similar pay or slightly more but much cheaper living cost and more savings potential. 

Only apologists or suckers would defend a 2.1 salary in 2019 when it was the same 12 years ago.  To each their own.  You will struggle here financially if you take it.  You won't get your loans paid off.  (I already did the math working out what a 2.1 salary could do this year versus 12 years ago.)

For me, I'm planning to make the jump to Japan soon. I haven't seen a public school position offer more than 250,000yen per month (and to get that much, you need to start lower and work up to it; except for JET though). Hell, earlier this year, I applied for some, and most only offered 225,000yen per month, and when I tried to negotiate a higher rate (cause I'm on much higher here in a public school in Korea), they "ahh, we will now go with someone else"'d me; while I can't prove it was because of that, it happened once I tried to negotiate a higher rate.
Even on Gaijinpot, I'm only seeing a max of 250,000yen for most positions, and most of them will lowball ya after the interview (based on my previous interview experiences).
Japan also doesn't offer the free apartment like Korea, so I'm still seeing what would be a lot less savings potential than Korea TBH.

I'm not an apologist or anything, like I mentioned, I'm even planning to leave Korea soon, in a little over a years time. It's just, I'm not seeing more saving potential from other countries, while also giving a decent quality of life (in terms of getting set up, internet, etc.). The only consistent I'm seeing now, would probably be Taiwan.
Japan is great too, but tends to offer less now. I heard 10 - 15 years ago, Japan offered the same stuff as Korea but, has now axed all the perks like housing and flights.


  • tylerthegloob
  • Hero of Waygookistan

    • 1014

    • September 28, 2016, 10:46:24 am
    • Busan
    more
Re: The exchange rate of suck
« Reply #14 on: December 10, 2019, 02:48:34 pm »
Wouldn't living home be more convenient?  If I didn't make what I make, I'd be gone.

Only apologists or suckers would defend a 2.1 salary in 2019 when it was the same 12 years ago.

only suckers would pretend to have done some kind of janky cost-benefit analysis (that takes into account subjective factors like convenience) and conclude that that other people (that they don't know) made the wrong decision. my dude, you're the biggest sucker in suckersville.

also 12 years ago, i was 12 so get outta here with that absolute nonnnnnsense talking about "back in my day"...


  • OnNut81
  • Hero of Waygookistan

    • 1000

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: The exchange rate of suck
« Reply #15 on: December 10, 2019, 03:23:38 pm »
Wouldn't living home be more convenient?  If I didn't make what I make, I'd be gone.

Only apologists or suckers would defend a 2.1 salary in 2019 when it was the same 12 years ago.

only suckers would pretend to have done some kind of janky cost-benefit analysis (that takes into account subjective factors like convenience) and conclude that that other people (that they don't know) made the wrong decision. my dude, you're the biggest sucker in suckersville.

also 12 years ago, i was 12 so get outta here with that absolute nonnnnnsense talking about "back in my day"...

I don't understand why Hangook77 has put so much time and effort into calling out people who are here making 2.1 when he's making so much more. And if he was offered such a pittance he would laugh in their face and head off into the sunset.  Why would someone not in that situation complain so much about being in that position? It's almost like when you read his horsesh*t you come away with the impression he's in fact one of these people working for 2.1. Go figure.


  • L I
  • The Legend

    • 4276

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: The exchange rate of suck
« Reply #16 on: December 10, 2019, 03:31:47 pm »
He thinks if people at that lower level demand more that will push up wages for him and slow or even reverse the decline in conditions he's experiencing now.

He's right to be concerned that things are gradually going downhill.

Those who are offended by having this pointed out are lashing out from a head in the sand position of not wanting to admit things are going south.

Well, proclaiming how wonderful everything is will only speed the steady and continued decline.

It's not really helping yourself in any way.


  • NorthStar
  • Hero of Waygookistan

    • 1113

    • July 05, 2017, 10:54:06 am
    • Mouseville
Re: The exchange rate of suck
« Reply #17 on: December 11, 2019, 07:05:32 am »
He thinks if people at that lower level demand more that will push up wages for him and slow or even reverse the decline in conditions he's experiencing now.

He's right to be concerned that things are gradually going downhill.

Those who are offended by having this pointed out are lashing out from a head in the sand position of not wanting to admit things are going south.

Well, proclaiming how wonderful everything is will only speed the steady and continued decline.

It's not really helping yourself in any way.

This.


Yep...heads in the sand.    And, I do recall the 2008 exchange rate....but then it swung in our favor in 2009. 


Re: The exchange rate of suck
« Reply #18 on: December 11, 2019, 08:33:51 am »
Wouldn't living home be more convenient?  If I didn't make what I make, I'd be gone.

Only apologists or suckers would defend a 2.1 salary in 2019 when it was the same 12 years ago.

only suckers would pretend to have done some kind of janky cost-benefit analysis (that takes into account subjective factors like convenience) and conclude that that other people (that they don't know) made the wrong decision. my dude, you're the biggest sucker in suckersville.

also 12 years ago, i was 12 so get outta here with that absolute nonnnnnsense talking about "back in my day"...

I don't understand why Hangook77 has put so much time and effort into calling out people who are here making 2.1 when he's making so much more. And if he was offered such a pittance he would laugh in their face and head off into the sunset.  Why would someone not in that situation complain so much about being in that position? It's almost like when you read his horsesh*t you come away with the impression he's in fact one of these people working for 2.1. Go figure.

Well as far as salary is concerned I agree with him. I am also sick of newbies getting screwed over horribly and asking if it's acceptable. " Uh hey guys. Here is a contract in which I'm teaching 35 teaching hours a week and have to be at work for 50 hours a week. It pays 2.1. Is it good? " .  It's nonsense! It's like we are on a sinking ship and about a 1/3 of the people are apathetic, 1/3 are completely oblivious, and 1/3 are the people who realize that the ship is going down and are concerned.  We do need to stick up for one another to combat these nonsense wages. As far as I'm concerned on this matter hangook is good people.


  • hangook77
  • Hero of Waygookistan

    • 1490

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The exchange rate of suck
« Reply #19 on: December 11, 2019, 11:51:09 am »
It's been bad for some countries for a while.  Combined with some jobs still lowballing salaries, why stay?  If it were me, I'd leave and go teach elsewhere where I could save more.

Chinese tensions aren't affecting English teachers.  They still want English.  You can still get 20 plus thousand rmb salaries with some teaching experience.  !2 to 15 with a free apartment easily.  Vietnam, you may need a couple of grand to start with but demand is there.  I have seen 1800 to 2500 US a month for folks with a TESOL and a degree.  Other Asian countries looking for folks with a TESOL, a degree, and some experience 2000 plus US a month.  All much cheaper living costs. 


Japan lowballs a lot more. I think, Japan offers slightly more in terms of money, but you get more value out of the bonuses Korea offers.
China... Well, China seems to be in a bad state for foreigners now.
Vietnam, from what I've heard, it's a lot of work to start working there, but good once you get set up.
Taiwan, I've heard for public school jobs, you need to pretty much be there already, so maybe a year of hagwon style jobs first? (could be wrong here, just what I heard from someone who used to live there).
For EU, I've heard it can be difficult to find a decent job there.

Based on what I've heard / known from my own experiences. While Korea does have problems, it is still pretty decent in terms of salary / savings potential.
Or are you thinking of a place I haven't mentioned?

As for Japan, not so hot.  But, I had seen many jobs getting lowballed a few years ago down to 230,000 Y.  But, now have seen quite a few jobs offering 270,000 Y this past spring and even some flight credit (which I had never seen before in japan).  Korea is a good deal if you make 3 million won a month or more with free housing.  It is equal in inflation terms to making 2.1 to 2.3 million from 2006 to 2009.  The cost of living was so much cheaper, the taxes a little less for foreigners, and the exchange rate was much lower.  Then, you could live frugally and end up with $1400 US in your bank after you wired your money home.  Now, you are lucky to get $650 US a month in your account.  You have a 5 or 6 hundred a month student loan payment, good luck.  It'll take you years to pay off.  Savings potential here now only marginally better than Japan on these new lower salaries.  Getting 1400 a month US meant you could pay off your student loans more quickly which was the whole point of going overseas to teach English and being away from friends and family.  Why come over here to struggle and just get by?  Wouldn't living home be more convenient?  If I didn't make what I make, I'd be gone.  If I lost my job and got offered 2.1 to 2.3, I'd laugh in their faces and hop to another country.  Similar pay or slightly more but much cheaper living cost and more savings potential. 

Only apologists or suckers would defend a 2.1 salary in 2019 when it was the same 12 years ago.  To each their own.  You will struggle here financially if you take it.  You won't get your loans paid off.  (I already did the math working out what a 2.1 salary could do this year versus 12 years ago.)

For me, I'm planning to make the jump to Japan soon. I haven't seen a public school position offer more than 250,000yen per month (and to get that much, you need to start lower and work up to it; except for JET though). Hell, earlier this year, I applied for some, and most only offered 225,000yen per month, and when I tried to negotiate a higher rate (cause I'm on much higher here in a public school in Korea), they "ahh, we will now go with someone else"'d me; while I can't prove it was because of that, it happened once I tried to negotiate a higher rate.
Even on Gaijinpot, I'm only seeing a max of 250,000yen for most positions, and most of them will lowball ya after the interview (based on my previous interview experiences).
Japan also doesn't offer the free apartment like Korea, so I'm still seeing what would be a lot less savings potential than Korea TBH.

I'm not an apologist or anything, like I mentioned, I'm even planning to leave Korea soon, in a little over a years time. It's just, I'm not seeing more saving potential from other countries, while also giving a decent quality of life (in terms of getting set up, internet, etc.). The only consistent I'm seeing now, would probably be Taiwan.
Japan is great too, but tends to offer less now. I heard 10 - 15 years ago, Japan offered the same stuff as Korea but, has now axed all the perks like housing and flights.

I saw some with 270 K last spring.  they even offered some partial flights which were an improvement over the way things were. If you wish to go and struggle, that's your prerogative.  Being poor isn't for me.  Also Japan still has terrible market conditions.  If they offered me a job, I'd demand a good wage.  If not, then see ya.  Have fun without me Japan.  I looked into Japan years ago.  They didn't offer a good enough deal so they didn't get me. 

I checked Japan 13 or 14 years ago and it was no good.  No flights and no apartment.  So, I went elsewhere.  Their loss.  Japan has different work conditions.  There are no shortages there.  So, the employers can be dicks.  (Supply and demand.)  They can fill positions.  Korea was like this during the recession and several years afterwards.  But with the US economy booming the last couple of years and the rise of China and Vietnam the last few years, Korea has emptied out compared to a few years ago and there are shortages here.
« Last Edit: December 11, 2019, 12:26:11 pm by hangook77 »