It’s hard to compare salaries because of taxes and the price of living. For exemple : people might be proud of their very high wages but since they live in California they pay a lot of taxes and everything from housing to food is extremely expensive. Which would make living in France way more advantageous even if we have lower wages…
Very interesting video! I think when comparing salaries, it's very important to consider cost of living. If you have a lower salary, but where you live is very cheap for housing, fuel and groceries, then you may live better than someone earning a high salary but paying very high costs of living. Overall, the US also needs to do better on work/life balance too. It is very important. Thanks for the info.
In the Netherlands you have 8 free days for public holidays and depending on your work hours in a week you get 4 weeks. If you work 40 hours a week you get 4 weeks of vacation. When you work 32 hours you get 16 days vacation. So we have 4 weeks of vacation plus an extra 8 days of public holidays. We don't have minimum wages if you work parttime. In the Netherlands we work less hours comparing to other european countries but according to several studies, the Dutch would perform relatively much in those few hours.
The starting salary for a CPA in Seoul is $51,000 but my starting salary in CA was $87,000 last year. I love to visit South Korea every year but could honestly never work there.
I feel that you would have not work life balance. A normal ofc hour is a 40 hr week…not 52. You can get to 52 if you have to put in extra time for special projects or certain reporting requirements at a certain time and that is generally not paid time if you are salary. Only hourly staff get paid overtime. So for salary members you are not going to give up your free time to the company like that on a week over week basis. We don’t work for free all the time.but we do put in extra time when it is required like quart reporting and year ends but most cases it is minimal.
It is difficult to make an average because the annual salary of Koreans varies depending on their job and age. In my case, my husband's annual salary as of 2022 is 42 million won + 6 million won for overtime = 48 million won. My annual salary is 30 million won + bonus 2 million won = 32 million won. I think our thinking in Korea is a little lower than the middle class. My husband is a 2D machine specialist born in 1984, and I am a 2D cad specialist born in 1990.
Thanks for posting. It's good to know about the average salary in SK but salary of the people are relative where they lived for example if they earned high salary like in Switzerland, the cost is also expensive. Watching from UK
You should make a video comparing the average Korean salary, to the average living costs in Korea (bills, food, accommodation, health insurance, transportation n so on) with other countries around the world
Almost impossible to compare: - Before and after tax varies widely in each country - Power Purchasing (how much you can buy) - Welfare system (how much you get in return for your taxes)
In Switzerland, we have 1 federal holiday, and that's 1. August, our national holiday. All other holidays like Christmas, Easter etc. are subject to each county. The average is 9. The minority of the Swiss people are even aware that these paid days are not federal because they're just there. But we have mandatory paid holidays of minimum 20 days a year, that's 4 weeks. We work 5 days a week, 40-45 hours. Again, that's average. We do have jobs with more or less hours. Some companies give 5-6 weeks holidays per year. Salaries are difficult because the Swiss people don't talk about it (being a Swiss, I'm no exception). So it's possible that a team admin assistant in a bank earns CHF 4500 per month, and her colleague with the same job has CHF 6000, and another one, maybe a PA earns 12000 per month. I know inhouse lawyers who earn 7800 per month, and lawyers of similar age and experience in a lawfirm who make 14000 per month. In this country, it's all about how you sell yourself and for whom you work. I know of two paralegals who work in the same team. Same age, same work, same experience. One earns 8200 per month, the other one 7600. You have to carefully guess your chances and negotiate. But in this country, living costs run astronomically high. They rip you off with taxes and mandatory insurances like health insurance, car (both official road and damage waiver), home and liability insurance, even silly stamp taxes if you need an official document. You pay taxes for your dog (no joke), even for your own house, for literally everything. You name it and the Swiss government creates taxes around it. They deduct a big share from your salary for the pension fund, but only one for yourself; they deduct double: one for a general fund to support those with no or very low income, and then your own as well. That's how this country is running. Everybody pays for everyone, to a certain extent. So when people see our high salaries, they don't see the taxes and the high living costs. Our salaries are gross numbers. From this amount, you have to pay everything and oftentimes, there is not much left for yourself to spend. Having to support a family here is not cheap.
Salary seems low in Seoul. Public school teachers in my area is $120k, UPS delivery drivers make well over $100k, McDonald’s cashiers makes $15/20per hour. Albeit, I live in a high income suburbs area in the US. That was an eye opening video. Thank you! Very interesting. :)
Where in the US do you live, if I may ask? Here in NJ, those salaries are half of those you quoted, and the minimum wage went up to only $13/h this year.
@@hyunfromseoul3037 $7.76 is pretty pathetic considering how wealthy Korea is. You should do more of these kinds of videos. Maybe do some other professions like doctors/surgeons, gym/dojang owners, teachers, dept. store associates, plumbers/electricians etc. Also, as a Korean-American living in the US, I’m very curious about Korean societal, cultural norms. I wish you well on your new channel!
I’m super happy with my position here in Korea. After all of my benefits and salary I make 3,940,000 KRW. Very happy with my situation, but I definitely worked for it.
@@ichooseviolence2532 In the city i would say no. But the median salary is around 2.3 mill so equal to 1700 usd right now. Its all about how you spend your money.
Minimum wage in Canada varies from province to province. Where I live in Alberta it is 15.00 but where I grew in Manitoba the minimum wage is 11.95. So you really need to factor in the costs of living to the place your actually reside and work. To really understand if your wage is good or not as it is all relative. If your costs of living are so cheap then yes your salary will reflect the lower range. You have to also consider how they set the calculation for minimum wage as some will adjust annually on the inflation rate / consumer price index and some do not this information should be made public for anyone to access like it is in Canada
I used to hire teams in R+D for a large American tech company around the world. With the same level of qualifications - usually PhD, recent graduates. I was very surprised to find out how low the monthly salary range was in Korea considering the level of education and productive output.After doing this for many years, I found that most Koreans outperformed other countries who did the same work. Korea as a country does a lot of right things - value education, dedication and commitment to work, comraderie - but the low pay, bias towards conglomerates, lack of work/life balance, not to mention the lack of jobs, make me recommend that young, educated Koreans go abroad. They have a better chance of getting a good job elsewhere. I hate to say this bc of the brain drain but I know that most Koreans would prefer to live in Korea after some time abroad. My 2¢
In England we got 8 day for public holiday and holiday starts from 20 day up to 32 day including bank holidays depending on hours work and most people work full day is 40 hours per week and pay start from this year low pay minimum wage starting from 9.50 pound per hour around 20,000 pound (English money)per year ( for around 27,215 USA dollars)some of professionals work will pay more ( my self got 32 day holiday not including weekend per year that company will pay if you are taking holiday
Many places have what is referred to as industry standard salary and holiday compensation. There is also a state to state and city verse county salary gap that is based off cost of living and demand for professions like teachers, medical professionals, and first responders (police/fire) her within the United States. Things like pensions/401K retirement plans and annual vacations combined with hours per week. Are all part of career choices and educations time and financial investments balanced by family life and overall standard of living as well as working conditions. One thing that suprised me is the amount of effort it takes to get certain jobs that have very little compensation. Is there a high unemployment rate among age groups and gender in Korea? What is the average retirement age and compensation? Example a big city worker can earn up to $75k- 200k base USC annually , retire with 50% pension after 20-25 years of employment, but works 40-60 hours a week and get 5 weeks vacation, plus 2 weeks sick leave and alternate holidays or paid double or triple the hourly rate extra for working holidays. Many people find these jobs very appealing and they often require mush less. Education that other careers. Or even can be paid training specific to the job. If you take this job at the minimal hire age of 22yrs old then your retirement age is in your 40's. 🤯
Minimum wage is not an indicator of quality of life. My city of Los Angeles has a minimum wage of $15/hr. But in fact most people who work jobs like McDonald's are making $22/hr. You still cannot survive on that salary. Housing cost and Inflation mean that you can only get by if you live with many family members and pool resources. And a car adds to the cost of my city. So $22/hr sounds like a dream to people from other parts. But you are probably homeless...or one step away from homeless.
But rent for even a small apartment usually takes 1/2 or more of your wages. :( The cost of living, and especially, housing is incredibly expensive in WA.
@@hyunfromseoul3037 I’ll be moving in to Korea soon.. I got an employment visa to work in a factory. So I want to have as much idea as I can before moving in.
Wow! You have a lot of holidays set aside , working holidays and school holidays. About salary it’s Netto and monthly or annually that amount you mention? I never work 100% just a normal worker , working 8 hrs a day .I never got a lot of holidays like your country except working holidays in which 5- 6 weeks . How about health insurance and taxes? Well it depends the country where you are working to compare. I worked in 2 countries CH +D . Now retired.
Spain definitaly cant be so hight, It depend a lot on the region, Cataluña Is really Doing Well, but thé Islands ,or Ceuta And Melilla are quite por, despite thé tourism... In Spain 700€-1000/month Is your numbers already in netto or you need to descount thé sociao security And taxes payments from IT?
But cost living in India is also way cheaper than that of Korea .even though salary is less but our cost of living is also cheap .we can buy quality fresh food ,clothes nd everything easily nd also that too with balancing the life nd work. 8-9 hours job with a 1or2 day holiday.
We get 8 public holidays in UK ( extra one this year for queen's platinum jubilee) on top of that 20 days holiday usually for office jobs less in Manuel jobs. but Bills are very expensive gas electric etc. Food has increased in cost as well around £70 a week. I only do 35 hour week. People work longer sometimes into their 70s . Extremely hard for the young to buy property you need a huge deposit glad I don't have to that again.
![[NEWs GEN] Why are S. Koreans so hooked into luxury spending?](http://i.ytimg.com/vi/nHqTAqVzDiY/mqdefault.jpg)
![[NEWs GEN] Why are S. Koreans so hooked into luxury spending?](/img/tr.png)
![How Much Do Foreigners In Korea Make? [Seoul] | Street Interview](http://i.ytimg.com/vi/nfrgOeb1AHY/mqdefault.jpg)
![BOWKYLION - วิงวอน (ex-change) [Official MV]](http://i.ytimg.com/vi/cLdnZWDaO-w/mqdefault.jpg)
![[#2024MAMA] BIGBANG (빅뱅) - 뱅뱅뱅 (BANG BANG BANG) + FANTASTIC BABY | Mnet 241123 방송](http://i.ytimg.com/vi/EQsYfiPR9uM/mqdefault.jpg)
It’s hard to compare salaries because of taxes and the price of living. For exemple : people might be proud of their very high wages but since they live in California they pay a lot of taxes and everything from housing to food is extremely expensive. Which would make living in France way more advantageous even if we have lower wages…
Yep. It's called Purchasing Power.
Very interesting video! I think when comparing salaries, it's very important to consider cost of living. If you have a lower salary, but where you live is very cheap for housing, fuel and groceries, then you may live better than someone earning a high salary but paying very high costs of living. Overall, the US also needs to do better on work/life balance too. It is very important. Thanks for the info.
In the Netherlands you have 8 free days for public holidays and depending on your work hours in a week you get 4 weeks. If you work 40 hours a week you get 4 weeks of vacation. When you work 32 hours you get 16 days vacation. So we have 4 weeks of vacation plus an extra 8 days of public holidays. We don't have minimum wages if you work parttime.
In the Netherlands we work less hours comparing to other european countries but according to several studies, the Dutch would perform relatively much in those few hours.
The starting salary for a CPA in Seoul is $51,000 but my starting salary in CA was $87,000 last year. I love to visit South Korea every year but could honestly never work there.
I feel that you would have not work life balance. A normal ofc hour is a 40 hr week…not 52. You can get to 52 if you have to put in extra time for special projects or certain reporting requirements at a certain time and that is generally not paid time if you are salary. Only hourly staff get paid overtime. So for salary members you are not going to give up your free time to the company like that on a week over week basis. We don’t work for free all the time.but we do put in extra time when it is required like quart reporting and year ends but most cases it is minimal.
It is difficult to make an average because the annual salary of Koreans varies depending on their job and age. In my case, my husband's annual salary as of 2022 is 42 million won + 6 million won for overtime = 48 million won. My annual salary is 30 million won + bonus 2 million won = 32 million won. I think our thinking in Korea is a little lower than the middle class. My husband is a 2D machine specialist born in 1984, and I am a 2D cad specialist born in 1990.
Hi hyun, i am your new Subscriber now.
Thanks for the info. I used to work at an international school in Bundang. Wages were fair for foreign teachers but just so so for the locals.
Thank you for watching!
Thanks for posting.
It's good to know about the average salary in SK but salary of the people are relative where they lived for example if they earned high salary like in Switzerland, the cost is also expensive.
Watching from UK
Very insightful video! Thanks for the great video!!! Fellow creator here about korea/japan/china 😊
Hello!! Fellow creator there! ^^
I just discovered your Chanel, thanks for this information. I'm a New subscriber
Thank you for the support.!!
Very interesting facts. Thanks for sharing. 👍
You should make a video comparing the average Korean salary, to the average living costs in Korea (bills, food, accommodation, health insurance, transportation n so on) with other countries around the world
Your English is very good. Thanks for the K-Insight
Almost impossible to compare:
- Before and after tax varies widely in each country
- Power Purchasing (how much you can buy)
- Welfare system (how much you get in return for your taxes)
In Switzerland, we have 1 federal holiday, and that's 1. August, our national holiday. All other holidays like Christmas, Easter etc. are subject to each county. The average is 9. The minority of the Swiss people are even aware that these paid days are not federal because they're just there. But we have mandatory paid holidays of minimum 20 days a year, that's 4 weeks. We work 5 days a week, 40-45 hours. Again, that's average. We do have jobs with more or less hours. Some companies give 5-6 weeks holidays per year. Salaries are difficult because the Swiss people don't talk about it (being a Swiss, I'm no exception). So it's possible that a team admin assistant in a bank earns CHF 4500 per month, and her colleague with the same job has CHF 6000, and another one, maybe a PA earns 12000 per month. I know inhouse lawyers who earn 7800 per month, and lawyers of similar age and experience in a lawfirm who make 14000 per month. In this country, it's all about how you sell yourself and for whom you work. I know of two paralegals who work in the same team. Same age, same work, same experience. One earns 8200 per month, the other one 7600. You have to carefully guess your chances and negotiate. But in this country, living costs run astronomically high. They rip you off with taxes and mandatory insurances like health insurance, car (both official road and damage waiver), home and liability insurance, even silly stamp taxes if you need an official document. You pay taxes for your dog (no joke), even for your own house, for literally everything. You name it and the Swiss government creates taxes around it. They deduct a big share from your salary for the pension fund, but only one for yourself; they deduct double: one for a general fund to support those with no or very low income, and then your own as well. That's how this country is running. Everybody pays for everyone, to a certain extent. So when people see our high salaries, they don't see the taxes and the high living costs. Our salaries are gross numbers. From this amount, you have to pay everything and oftentimes, there is not much left for yourself to spend. Having to support a family here is not cheap.
Hi!
I would like to work in Switzerland in few years, how much do you think is enough to live correctly there ?
Thank you.
Salary seems low in Seoul. Public school teachers in my area is $120k, UPS delivery drivers make well over $100k, McDonald’s cashiers makes $15/20per hour. Albeit, I live in a high income suburbs area in the US.
That was an eye opening video. Thank you! Very interesting. :)
Thank you for the info. That's a lot!! Korea, Minimum hourly payment by law in 2022 is $7.76 now.
Where in the US do you live, if I may ask? Here in NJ, those salaries are half of those you quoted, and the minimum wage went up to only $13/h this year.
@@hyunfromseoul3037 $7.76 is pretty pathetic considering how wealthy Korea is.
You should do more of these kinds of videos. Maybe do some other professions like doctors/surgeons, gym/dojang owners, teachers, dept. store associates, plumbers/electricians etc. Also, as a Korean-American living in the US, I’m very curious about Korean societal, cultural norms.
I wish you well on your new channel!
@@kookoo4mike Thank you for advice. Yeah it seems like a good idea.
@@lovedonthate5472 I was wondering too. $120K for public teachers is extremely high. The highest salary in NY is $87K.
1:07 the SHADE!😂
I’m super happy with my position here in Korea. After all of my benefits and salary I make 3,940,000 KRW. Very happy with my situation, but I definitely worked for it.
Is $1500 USD a good salary in South Korea???
@@ichooseviolence2532 In the city i would say no. But the median salary is around 2.3 mill so equal to 1700 usd right now. Its all about how you spend your money.
Minimum wage in Canada varies from province to province. Where I live in Alberta it is 15.00 but where I grew in Manitoba the minimum wage is 11.95. So you really need to factor in the costs of living to the place your actually reside and work. To really understand if your wage is good or not as it is all relative. If your costs of living are so cheap then yes your salary will reflect the lower range. You have to also consider how they set the calculation for minimum wage as some will adjust annually on the inflation rate / consumer price index and some do not this information should be made public for anyone to access like it is in Canada
nice vid. Economy is not good on most countries now.
I used to hire teams in R+D for a large American tech company around the world. With the same level of qualifications - usually PhD, recent graduates. I was very surprised to find out how low the monthly salary range was in Korea considering the level of education and productive output.After doing this for many years, I found that most Koreans outperformed other countries who did the same work. Korea as a country does a lot of right things - value education, dedication and commitment to work, comraderie - but the low pay, bias towards conglomerates, lack of work/life balance, not to mention the lack of jobs, make me recommend that young, educated Koreans go abroad. They have a better chance of getting a good job elsewhere. I hate to say this bc of the brain drain but I know that most Koreans would prefer to live in Korea after some time abroad. My 2¢
Very informative thanks for the information......😊
Interesting. I make $115,000 USD working remotely in IT here in Chicago.
In England we got 8 day for public holiday and holiday starts from 20 day up to 32 day including bank holidays depending on hours work and most people work full day is 40 hours per week and pay start from this year low pay minimum wage starting from 9.50 pound per hour around 20,000 pound (English money)per year ( for around 27,215 USA dollars)some of professionals work will pay more ( my self got 32 day holiday not including weekend per year that company will pay if you are taking holiday
I just discovered your channel & thx information.
Welcome on board ^^
Solid informational video, thanks
Thank u very much. Any issue u are interested in please let me know
This is a really useful video !
what a handsome Korean boy
Many places have what is referred to as industry standard salary and holiday compensation. There is also a state to state and city verse county salary gap that is based off cost of living and demand for professions like teachers, medical professionals, and first responders (police/fire) her within the United States. Things like pensions/401K retirement plans and annual vacations combined with hours per week. Are all part of career choices and educations time and financial investments balanced by family life and overall standard of living as well as working conditions. One thing that suprised me is the amount of effort it takes to get certain jobs that have very little compensation. Is there a high unemployment rate among age groups and gender in Korea? What is the average retirement age and compensation?
Example a big city worker can earn up to $75k- 200k base USC annually , retire with 50% pension after 20-25 years of employment, but works 40-60 hours a week and get 5 weeks vacation, plus 2 weeks sick leave and alternate holidays or paid double or triple the hourly rate extra for working holidays. Many people find these jobs very appealing and they often require mush less. Education that other careers. Or even can be paid training specific to the job. If you take this job at the minimal hire age of 22yrs old then your retirement age is in your 40's. 🤯
Interesting! I want to visit
Pretty much what i expected tbh
Minimum wage is not an indicator of quality of life. My city of Los Angeles has a minimum wage of $15/hr. But in fact most people who work jobs like McDonald's are making $22/hr. You still cannot survive on that salary. Housing cost and Inflation mean that you can only get by if you live with many family members and pool resources. And a car adds to the cost of my city. So $22/hr sounds like a dream to people from other parts. But you are probably homeless...or one step away from homeless.
In WA(state) minimum wage is $14.49 as of Jan 1, 2022
But rent for even a small apartment usually takes 1/2 or more of your wages. :( The cost of living, and especially, housing is incredibly expensive in WA.
Our minimum wage for 8 hours 10.74 dollar or 537 pesos
I have been thinking about being an english teacher in South Korea......
Little money? lol. If you are to persuade rich parents to become your customers, you can expect high income. 🙂🙂
@@hyunfromseoul3037 The money isn't as important as the help you would be giving others. I don't need much.
Thanks for the information.. I’m a new subscriber.
Please have much do factory works earn in Korea
Will do that soon
@@hyunfromseoul3037 I’ll be moving in to Korea soon.. I got an employment visa to work in a factory. So I want to have as much idea as I can before moving in.
Wow! You have a lot of holidays set aside , working holidays and school holidays. About salary it’s Netto and monthly or annually that amount you mention? I never work 100% just a normal worker , working 8 hrs a day .I never got a lot of holidays like your country except working holidays in which 5- 6 weeks . How about health insurance and taxes? Well it depends the country where you are working to compare. I worked in 2 countries CH +D . Now retired.
In india also merchant navy ppl earns very well
Wow ... that is really high salary and also quite a lot of public national holiday ... what about overtime and stress?
Well... Korea has been the top of suicidal rate for very long in oecd coutries which means... u know
@@hyunfromseoul3037 .. high salary = high stress = die faster ... stay safe and be happy ☺
That’s a nice building you’re in. Is it a museum or something? What do you do for a job?
That was one of the wework offices in seoul. Indeed very nice view. Now it's closed due to the rental issue. sad
Can you tell what is the salary of ai engineer In korea
Did korea don't have any Management related jobs?? Cause I'm Business Administration Student
Spain definitaly cant be so hight, It depend a lot on the region, Cataluña Is really Doing Well, but thé Islands ,or Ceuta And Melilla are quite por, despite thé tourism...
In Spain 700€-1000/month
Is your numbers already in netto or you need to descount thé sociao security And taxes payments from IT?
New subscriber here😊
Wow. You are my third subscriber. First, second, my mom and sis. Apprrciate it lol. Any topic you want me to cover. Please tell me. Do my best
How much can master students work while studying?
Is $1500 USD a good salary in South Korea?
Per year?
Average Indian guy annual salary just 1,400$ only :"(
Or less than that
Bro, avg salary in India is 400- 500 usd/month.😅😅
But cost living in India is also way cheaper than that of Korea .even though salary is less but our cost of living is also cheap .we can buy quality fresh food ,clothes nd everything easily nd also that too with balancing the life nd work. 8-9 hours job with a 1or2 day holiday.
@@princekumarlal6831400 500? Lol. More like ringgit not usd. Come on we all know indians cant reach not even 30% of that on median
18 holidays in Philippines
Is the English language is enough?
Thanks!
Thank you too
Nice shirt
I got it from H&M or ZARA. ^^
@@hyunfromseoul3037 oh ur so sweet for answering this. ❤️👍
How much is a factory job in south Korea
You are working far to hard. But that’s why South Korea is so successful.
How much teacher earn in korea??
Bro, South Korea is so much better than India. There isn’t a minimum wage slab, so people get paid 1 USD or even lesser in many jobs.
Australia :)
How much doctors earn in korea??in $
It depends on their specialty. if it's about beauty, they earn a lot lot lot lot lot lot lot lot
not good your voice
We get 8 public holidays in UK ( extra one this year for queen's platinum jubilee) on top of that 20 days holiday usually for office jobs less in Manuel jobs. but Bills are very expensive gas electric etc. Food has increased in cost as well around £70 a week.
I only do 35 hour week. People work longer sometimes into their 70s . Extremely hard for the young to buy property you need a huge deposit glad I don't have to that again.
New subscriber here❣