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Hourly vs Salary
« on: February 21, 2022, 01:57:17 pm »
I just finished an interview and was pretty much offered a job, i think.  As i already knew what their hourly rate was, she surprised me when she asked what my expectation would be if i were to be paid salary.  Caught me off guard and i couldn't really give her an answer as i couldnt do the mental math that quickly.

40k◊25hrs/wk or salary with the same hours.

If I opt for salary, what should i ask for?


  • Savant
  • The Legend

    • 3374

    • April 07, 2012, 11:35:31 pm
Re: Hourly vs Salary
« Reply #1 on: February 21, 2022, 06:32:05 pm »
Depends if you're already paying your own National Pension and Health Insurance.

If this is your own only gig then as a contract worker, you need to pay the above 100% on your own. Monthly salary reduces your burden to 50% and I think you pay less tax.

She doesn't want to pay you 4 million as she also needs to pay her 50% share. So, maybe, 3.5-3.8 million (monthly + housing allowance).


Re: Hourly vs Salary
« Reply #2 on: February 21, 2022, 07:10:21 pm »
If you take salary donít go on as an independent contractor because you will be losing benefits. Unless the hourly rate is high enough to offset that. Also think about vacation, pay on red days, pay-rate for non teaching hours.


  • Lazio
  • Expert Waygook

    • 963

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Hourly vs Salary
« Reply #3 on: February 21, 2022, 07:44:58 pm »
At around 3.6 monthly it would be comparable I guess.
200k a day, 20 days a month (a couple of months have 21 or even 22 working days) minus weekends, 10 days off and another 5 days lost on various holidays will leave you with about 245 working days a year. Let's make it a bit less so 240 x 200k= 48.000.000. No idea how much tax one would pay on this. Remember, the 3.3% tax is withheld from this but that is not the rate you will end up paying. You pay your own health insurance and there is no pension.

At 3.6 million a month it would be 43.2 a year. +one more month bonus (would you get that? If not, the monthly salary should be higher) That comes to 46.8 a year. But they would deduct health insurance (3.43% which is about 1.6 million) and 4.5% for pension which is about 2.1 million. Although that pension is still yours, just not in your pocket. And the employer would also contribute 2.1 million so you can add that to the yearly total. The health insurance is money out the window. Again, I have no idea how much the income tax would be.
Insurance-wise you would be better off freelancing because you can be covered under your wife's insurance whether she works or not. And it doesn't make her contributions higher.
I could be missing something. For example unemployment insurance and such
Obviously they wouldn't give you 4 million a month.
The hourly payment will most likely leave more money in your pocket now, whereas with proper employment you will end up with less money now but your pension will be growing.
« Last Edit: February 21, 2022, 08:40:00 pm by Lazio »
''Jealous of those who make more, have a 2 bedroom apartment to live in, ride a GIANT mountain bike, and drive a car that gets them around?  Well, I can't help myself.  It's too bad you are jealous of me for you having less. I am at least able to say I am living better than most ESLers '' hangook77


  • Savant
  • The Legend

    • 3374

    • April 07, 2012, 11:35:31 pm
Re: Hourly vs Salary
« Reply #4 on: February 21, 2022, 09:07:02 pm »

Insurance-wise you would be better off freelancing because you can be covered under your wife's insurance whether she works or not. And it doesn't make her contributions higher.


I'm married to a Korean and am unable to be registered under her National Health Insurance. I was able to for the first 2 years of our marriage but suddenly they said that it wasn't possible so I've been registered separately for several years now. I think there is some [joint?] income threshold or something that is calculated or the NHIS just bullshitted us.


  • Lazio
  • Expert Waygook

    • 963

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: Hourly vs Salary
« Reply #5 on: February 21, 2022, 09:31:41 pm »
I'm married to a Korean and am unable to be registered under her National Health Insurance. I was able to for the first 2 years of our marriage but suddenly they said that it wasn't possible so I've been registered separately for several years now. I think there is some [joint?] income threshold or something that is calculated or the NHIS just bullshitted us.

Yeah, it could be income related. No idea.
But if you are employed full time too, then you must pay your own insurance. No matter how much the individual income is or the combined household income.

I've been covered under my wife's insurance for more than 10 years.
« Last Edit: February 22, 2022, 10:18:53 am by Lazio »
''Jealous of those who make more, have a 2 bedroom apartment to live in, ride a GIANT mountain bike, and drive a car that gets them around?  Well, I can't help myself.  It's too bad you are jealous of me for you having less. I am at least able to say I am living better than most ESLers '' hangook77