Wednesday, May 13, 2015
Reader Question: Average Monthly Salary Working at a Korean University
A reader question about what average monthly salary you can expect working at a Korean university.
This is particularly relevant to me because in preparation for my move to Canada, I just went to the tax office and got statements of my income and taxes for all the years I've lived in Korea. It was kind of eye opening as I went through them in detail and while most ESL teachers have seen their salaries stagnate over the past decade in Korea, mine has gone up by 10-15%, year after year. I guess it pays to make the connections, get the qualifications, and hussle up a little OT?
Anyway, that's a whole other story, but back to the original question. The low-end jobs pay about 2.0 million Korean Won/month, while the high-end ones can go up to about 3.0. Then, you'll either get housing or a housing allowance on top of that.
But, where the real money to be made at Korean universities is in the overtime. If a university has lots of it floating around and you can pick up 5-10 hour/week, it can really add up. Or, maybe they have camps during the breaks where you can work a steady 2 or 3 weeks at a time. Finally, they may give you permission to work at outside places like a company or hagwon, which can be the most lucrative part-time gig.
It should be noted that the total salary earned is kind of erratic; in some months I've earned up to 5 or 6 million, while in others, I've done no OT and just earned my regular monthly salary. So save up during the feast times so you won't suffer in the famine.
For even more finance stuff for English teachers, check out my book on Amazon: The Wealthy English Teacher. It's only $2.99 US and if you don't pick up some tips that'll save you the cost of the book, just email me and I'll refund you the price of the book via PayPal no questions asked.