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  • andrucer
  • Veteran

    • 76

    • September 07, 2010, 10:40:31 am
    • South Korea
Our salary is not bad at all
« on: April 20, 2011, 09:10:21 am »
Last night, I thought about my salary as a teacher here. Here is the breakdown :

Monthly : 2,100,000 WON (25,200,000 WON per year)
Severance pay : 2,000,000 WON
Renewal bonus :  2,000,000 WON
After school class : 300,000 WON/month (~1,200,000 WON/year)

+ have to factor in 400,000 WON (4,800,000 WON/year) each month for my studio apartment because I could receive this in cash if I chose to.
                      ---------------------------
                =   35,200,000 WON per year  <about $32,000 US>


$32,000 a year is about what new teachers would make in the U.S.
We make about the same without doing all the work a teacher in the U.S. would do.
I would say our salary is not bad at all.

Earning about the same as a new teacher in the U.S. but with much lower living costs = able to save a lot more money than I would be able to in the U.S.


  • woman-king
  • Hero of Waygookistan

    • 1159

    • October 18, 2010, 03:56:29 pm
    • Gyeonggi
Re: Our salary is not bad at all
« Reply #1 on: April 20, 2011, 09:21:17 am »
Yep.  Definitely one of the big draws of the job for sure. 
Also, if you're American, you pay no taxes to EITHER country for your first two years.    :P


  • Suza
  • Super Waygook

    • 464

    • March 21, 2011, 07:32:17 am
    • Sanbon
Re: Our salary is not bad at all
« Reply #2 on: April 20, 2011, 09:33:30 am »
If they didn't offer free accommodation it would be a different story. Its this and the severance pay that clinches the deal. Living costs (well food at least) is more expensive than the UK.

Not everyone has overtime offered at their schools. Americans are even luckier because they get their pension money back, I lose around 2 million a year on this.


  • Suza
  • Super Waygook

    • 464

    • March 21, 2011, 07:32:17 am
    • Sanbon
Re: Our salary is not bad at all
« Reply #3 on: April 20, 2011, 09:38:16 am »
Also, if you re-sign you don't get severance pay and a renewal bonus. You just get 2 million and a return ticket home plus extra days holidays.


  • tfung31
  • Veteran

    • 120

    • March 02, 2011, 10:59:20 am
    • Busan, South Korea
Re: Our salary is not bad at all
« Reply #4 on: April 20, 2011, 09:39:14 am »
also if you don't live in Seoul you save a lot more on living costs. the average meal for me (in Busan) is about 5,000 won eating out, i could save even more if i cook my own food 


Re: Our salary is not bad at all
« Reply #5 on: April 20, 2011, 10:00:30 am »
Also, if you re-sign you don't get severance pay and a renewal bonus. You just get 2 million and a return ticket home plus extra days holidays.

No, that's wrong. You most definitely DO get severance pay for every year that you've worked.

If you re-sign you might not (depending on your MOE's policy on this) get that severance pay at the end of each individual year, but you will get it when you finally leave and it'll then be double, triple, quadruple the amount for one year depending on how long you've worked. In fact, it may actually be a little more than that, because severance pay is based on the average of your final 3 months multiplied by the number of years you worked. So someone on 2.0 in their 1st year who went up to 2.2 by their 3rd and final year would get a final severance amount of 6.6.



  • Ectofuego
  • Featured Contributor

    • 920

    • November 02, 2010, 09:21:10 am
    • Mars
Re: Our salary is not bad at all
« Reply #6 on: April 20, 2011, 10:07:15 am »
Annual Wage               32,000
Add back taxes             4,500
Add back ss                 1,600
No car payment               450
No Car Insurance           1,200
No Gas                           960
2 extra vacation weeks     900

Total Advantage            41,610
I'm Jason and I approve this message!


  • andrucer
  • Veteran

    • 76

    • September 07, 2010, 10:40:31 am
    • South Korea
Re: Our salary is not bad at all
« Reply #7 on: April 20, 2011, 10:22:00 am »
Annual Wage               32,000
Add back taxes             4,500
Add back ss                 1,600
No car payment               450
No Car Insurance           1,200
No Gas                           960
2 extra vacation weeks     900

Total Advantage            41,610

Having no car payment and car insurance is big. Also not having to pay for gas is a big money saver. In many parts of America, gas is now over $4 a gallon.

In America, I had a car payment of $200/month and insurance was about $100/month. Also spent about $200/month on gas. $500 a month for a car = $6000 a year.

I spend about 40,000 WON a month on transportation here in Korea. NICE !!!   :D


Re: Our salary is not bad at all
« Reply #8 on: April 20, 2011, 10:23:32 am »

After school class : 300,000 WON/month (~1,200,000 WON/year)


even nicer if most of us had afterschool classes like you ;)

but yes, salary is not bad at all....we're not raped by high taxes like in our home countries.
« Last Edit: April 20, 2011, 10:27:54 am by murakano121 »


  • Suza
  • Super Waygook

    • 464

    • March 21, 2011, 07:32:17 am
    • Sanbon
Re: Our salary is not bad at all
« Reply #9 on: April 20, 2011, 10:29:00 am »
Also, if you re-sign you don't get severance pay and a renewal bonus. You just get 2 million and a return ticket home plus extra days holidays.

No, that's wrong. You most definitely DO get severance pay for every year that you've worked.

If you re-sign you might not (depending on your MOE's policy on this) get that severance pay at the end of each individual year, but you will get it when you finally leave and it'll then be double, triple, quadruple the amount for one year depending on how long you've worked. In fact, it may actually be a little more than that, because severance pay is based on the average of your final 3 months multiplied by the number of years you worked. So someone on 2.0 in their 1st year who went up to 2.2 by their 3rd and final year would get a final severance amount of 6.6.

Then I definitely need to look into this with GEPIK, as in 2009 i resigned and I got the renewal. When I left in 2010 I got 1 years severance. So, if this is right I'm missing out on 1 years severance.
I've just come back but am now under Gunpo city and not GEPIK.


  • Fatsy67
  • Adventurer

    • 26

    • April 19, 2011, 02:57:01 pm
    • Incheon, South Korea
Re: Our salary is not bad at all
« Reply #10 on: April 20, 2011, 10:35:52 am »
Spot on with this topic. I was a newspaper reporter back home. I LOVED my job, but didn't make close to what I'm making here when you factor everything in. I also still get to use my English Writing major. Pretty good deal over here.
Come to our bar in Incheon! www.liquorburger.com !


  • dsob
  • Veteran

    • 148

    • February 23, 2011, 06:25:17 pm
    • Pusan
Re: Our salary is not bad at all
« Reply #11 on: April 20, 2011, 10:36:55 am »

Having no car payment and car insurance is big. Also not having to pay for gas is a big money saver. In many parts of America, gas is now over $4 a gallon.

[/quote]

Please Americans, do not complain about petrol costs. You have it considerably cheaper than any other developed country in the World. In the UK, we pay around 1 pound 30p ($2) for a litre. There are 4.5 litres in a gallon so that means around $9 a gallon. It is much the same across Europe and Korea seems to be around a dollar a litre. (check this out: http://en.wikipedia.org/wiki/Gasoline_and_diesel_usage_and_pricing#Typical_gasoline_prices_around_the_world)

Sorry to nag, its just a pet hate of mine when Americans complain about 'gas' prices when I got royally f***ed by our Govt.
www.djsandkp.blogspot.com

Supplements at www.iHerb.com - $5 off referral coupon - OZI611


  • dsob
  • Veteran

    • 148

    • February 23, 2011, 06:25:17 pm
    • Pusan
Re: Our salary is not bad at all
« Reply #12 on: April 20, 2011, 10:39:46 am »
Also, if you re-sign you don't get severance pay and a renewal bonus. You just get 2 million and a return ticket home plus extra days holidays.

No, that's wrong. You most definitely DO get severance pay for every year that you've worked.

If you re-sign you might not (depending on your MOE's policy on this) get that severance pay at the end of each individual year, but you will get it when you finally leave and it'll then be double, triple, quadruple the amount for one year depending on how long you've worked. In fact, it may actually be a little more than that, because severance pay is based on the average of your final 3 months multiplied by the number of years you worked. So someone on 2.0 in their 1st year who went up to 2.2 by their 3rd and final year would get a final severance amount of 6.6.

Then I definitely need to look into this with GEPIK, as in 2009 i resigned and I got the renewal. When I left in 2010 I got 1 years severance. So, if this is right I'm missing out on 1 years severance.
I've just come back but am now under Gunpo city and not GEPIK.

This is the first I have heard of this. I'm an EPIKer so maybe it doesn't include me. Either way, the salary is kinda awesome.
www.djsandkp.blogspot.com

Supplements at www.iHerb.com - $5 off referral coupon - OZI611


  • astericks
  • Adventurer

    • 73

    • March 01, 2011, 09:25:06 am
    • Cheongju
Re: Our salary is not bad at all
« Reply #13 on: April 20, 2011, 10:41:43 am »
I see why you'd get upset when people from the US complain about gas prices, but ease up a little. We are used to a certain lifestyle and paying high prices for gas is not something we are acclimated to.


Re: Our salary is not bad at all
« Reply #14 on: April 20, 2011, 10:43:54 am »
Well, if we complain about having cheaper gas in America, you can boast about having a half decent country to head home to. :)


  • dsob
  • Veteran

    • 148

    • February 23, 2011, 06:25:17 pm
    • Pusan
Re: Our salary is not bad at all
« Reply #15 on: April 20, 2011, 10:44:17 am »
I see why you'd get upset when people from the US complain about gas prices, but ease up a little. We are used to a certain lifestyle and paying high prices for gas is not something we are acclimated to.

No you are right, I'm just having a day of desk warming and US petrol price complaining is my pet hate :p
www.djsandkp.blogspot.com

Supplements at www.iHerb.com - $5 off referral coupon - OZI611


Re: Our salary is not bad at all
« Reply #16 on: April 20, 2011, 10:54:20 am »
. I'm an EPIKer so maybe it doesn't include me.

Sorry, what did you mean? What I said about severance pay doesn't include you?

If so, then you're wrong. The same rules about severance pay being due for every year that you've worked (although not necessarily paid separately at the end of each year) are national employment law and apply to everybody. It makes no difference if you work for SMOE, GEPIK or wherever.



  • infogoddess
  • Featured Contributor

    • 349

    • March 03, 2010, 10:18:59 am
    • Wuxi, Jiangsu, China
Re: Our salary is not bad at all
« Reply #17 on: April 20, 2011, 10:59:33 am »
I see why you'd get upset when people from the US complain about gas prices, but ease up a little. We are used to a certain lifestyle and paying high prices for gas is not something we are acclimated to.

such short memories...

Having lived and worked in the US for 40 years, many of which involved driving a vehicle for work, I can assure you that, relatively speaking, gas prices have been higher
http://verybestcdrates.com/Charts/2011/0114_Inflation_Adjusted_Gasoline_Prices_Chart.html

"The Bhagavad Gita - that ancient Indian Yogic text - says that it is better to live your own destiny imperfectly than to live an imitation of somebody else's life with perfection. So now I have started living my own life." Elizabeth Gilbert


Re: Our salary is not bad at all
« Reply #18 on: April 20, 2011, 11:02:02 am »
In my opinion, as a general rule, it is not a good idea to boast about your income.  I'm sure you are earning well but to post about it on a forum is another thing. 

I just think if you openly tell everybody about your income then some people will be unhappy and that could lead to problems.  There is already talk of cutting our wages.

Also, it may lead to even more waygooks wanting to come here because of the pay rather than the experience.  Also, they come for the pay check rather than being a professional teacher here.  THAT can only lead to problems.



Re: Our salary is not bad at all
« Reply #19 on: April 20, 2011, 11:09:29 am »
In my opinion, as a general rule, it is not a good idea to boast about your income.  I'm sure you are earning well but to post about it on a forum is another thing. 

I just think if you openly tell everybody about your income then some people will be unhappy and that could lead to problems.  There is already talk of cutting our wages.

Also, it may lead to even more waygooks wanting to come here because of the pay rather than the experience.  Also, they come for the pay check rather than being a professional teacher here.  THAT can only lead to problems.

Seeing as this forum is geared towards NETs in Korea, we're all pretty much in the same boat.  Sure, there's some who make way more, and a few who took really low-paying jobs, but most of us have approximately similar salaries.  The OP is not bragging, just bringing up some interesting points.

Coming to Korea is no secret, and tons already come for the pay.  Posting it on the forum will make no difference.
C is for cookie, that's good enough for me.