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  • theory_
  • Veteran

    • 107

    • March 12, 2013, 09:18:32 am
    • south korea
Re-signing Bonus
« on: May 06, 2013, 11:58:51 am »
Has the timing of the re-signing bonus changed? Do you still get it on the first month of your new contract?


  • newb
  • Newgookin

    • 0

    • November 20, 2012, 10:38:27 am
    • South Korea
Re: Re-signing Bonus
« Reply #1 on: May 06, 2013, 12:02:42 pm »
Has the timing of the re-signing bonus changed? Do you still get it on the first month of your new contract?

Yeah, on the payday.
HEY CAN YOU FILL THE OIL AND CHECK THE GAS PLEASE!!!!


Re: Re-signing Bonus
« Reply #2 on: May 06, 2013, 12:03:53 pm »
Ask your school.
I got mine just after the first month's paycheck (of the new contract), but I don't think there is a 'standard' time to pay it to you.


  • Dweebs1
  • Veteran

    • 102

    • December 07, 2010, 02:52:11 pm
    • Yeongwol, Gangwon-do
Re: Re-signing Bonus
« Reply #3 on: May 06, 2013, 01:30:38 pm »
The new EPIK 2013 contract has changed on resigning bonuses. Now you get your resigning bonus when you leave the country. If you resign 5 times now, you get all 5 resigning bonuses in one lump some  when you leave the country.


  • newb
  • Newgookin

    • 0

    • November 20, 2012, 10:38:27 am
    • South Korea
Re: Re-signing Bonus
« Reply #4 on: May 06, 2013, 01:35:20 pm »
The new EPIK 2013 contract has changed on resigning bonuses. Now you get your resigning bonus when you leave the country. If you resign 5 times now, you get all 5 resigning bonuses in one lump some  when you leave the country.

No no no.  Renewal bonus and severance are two different beasts.  You just described the severance pay.
HEY CAN YOU FILL THE OIL AND CHECK THE GAS PLEASE!!!!


Re: Re-signing Bonus
« Reply #5 on: May 07, 2013, 11:41:29 am »
The new EPIK 2013 contract has changed on resigning bonuses. Now you get your resigning bonus when you leave the country. If you resign 5 times now, you get all 5 resigning bonuses in one lump some when you leave the country.

Actually, if you resign you usually forfeit your severance, unless you have been working for longer than one year.


Re: Re-signing Bonus
« Reply #6 on: May 07, 2013, 11:52:51 am »
I think a lot of teacher here find this topic confusing.  Every year that you re-sign you get a bonus which is (at least in my area) 2 million.  At the end of your stay here in Korea you get your severance pay which is equal to 1 months pay per year that you have been working, calculated at your rate of pay when you leave Korea.  If you have been in Korea for two years (example) when you leave at the end of your contract you will get your current pay (minus any bonuses such as rural, multi school, etc) x 2 plus flight allowance and pension if you qualify.


  • specter13
  • Expert Waygook

    • 794

    • November 29, 2010, 10:00:26 pm
    • Seoul South Korea
Re: Re-signing Bonus
« Reply #7 on: May 07, 2013, 12:14:14 pm »
I think there is also confusion when if you write resign (to quit or finish) or re-sign. When I switched schools my old school had the money so it took me a little longer to get my money.


  • newb
  • Newgookin

    • 0

    • November 20, 2012, 10:38:27 am
    • South Korea
Re: Re-signing Bonus
« Reply #8 on: May 07, 2013, 12:26:22 pm »
I think there is also confusion when if you write resign (to quit or finish) or re-sign. When I switched schools my old school had the money so it took me a little longer to get my money.

It would be less confusing if we all say "renew" instead of "re-sign/resign."
HEY CAN YOU FILL THE OIL AND CHECK THE GAS PLEASE!!!!


Re: Re-signing Bonus
« Reply #9 on: May 07, 2013, 12:28:48 pm »
I think there is also confusion when if you write resign (to quit or finish) or re-sign. When I switched schools my old school had the money so it took me a little longer to get my money.
It would be less confusing if we all say "renew" instead of "re-sign/resign."

It would be less confusing if we could all use English.