|Teach ESL in South Korea|
For my thoughts on other ESL teaching destinations besides Korea, check out:
Today, it's all about Korea and of course I've talked about job conditions and the like on this blog for years, but here's a quick summary for newbies considering Korea as a place to teach English. It's an excerpt from my book, The Wealthy English Teacher: Teach, Travel, and Secure Your Financial Future.
Ten years ago, South Korea was one of the best places in the world to teach English due to the high salary, extremely favourable exchange rate with the USA and Canada, free housing and airfare along with minimal qualifications and low expectations for teachers. These days, cost of living has risen significantly while salaries have stagnated and qualifications and expectations for teachers have risen so that it is not the prime location it once was.
However, there is definitely money to be made and saved, especially if you are willing to live frugally. Most teachers can put away around $1,000 per month with little effort and live quite well. For others, with some effort and frugal living, they can save up to $1,500 per month (and more if they are doing overtime or have permission from their visa sponsor to teach at other companies or schools).
Another way to live well in Korea is by working your way up the job ladder into a university (for tips, check out: How to Get a University Job in South Korea: The English Teaching Job of Your Dreams, which has a very low number of working hours and lots of vacation. If you do some overtime work during those down times, you can increase your savings potential significantly, up to $4,000-5,000 per month.