How Much Does It Cost To Start Teaching English In Korea?
Today I have a video and article for you that should help you get a sense of what the cost to start teaching English in Korea is like. I guess a lot of people forget about the fact that you need a sizable chunk of cash to get over here and get started. So in this post I’ll break down the costs of getting over here, as well as the initial monetary benefits you are given on arrival, and finally work out how much that leaves you with 😉
So check out this video and article which breaks it down nicely for you:
[youtube yxv6ItkGQ6M 640 360]
Monetary Benefits On Arrival
When you arrive in Korea you get a number of monetary benefits. These are given to you to cover the cost of your flight expenses and settling in. The important thing to note is these will mostly likely not be given to you upon arrival and so there will be a period of time before you get them. These include:
1) Entrance Allowance
1.3 million won ($1300)
This is money give to you to pay off your flight and other costs of traveling over. The $1300 is a generous amount and, depending on where you fly from, should easily cover your flight and may even leave you with money left over. I only paid $700 for a flight, so that was a nice amount of extra money to pocket.
This amount is usually given to you along with your first paycheck. That means you only get it after one full month of living in Korea.
*NOTE: Teachers in Busan MOE only get this after 6 months of teaching.
2) Settlement Allowance
300 000 won ($300)
This is a nice extra bonus that EPIK teachers get (that hagwon teachers ususally don’t get) and is there for you to buy things for your apartment you’re provided with. Your apartment does come furnished, however things such as bedding, cutlery, crockery etc needs to be bought.
This amount may be given to you within your first month of teaching, however this varies from school to school. I only received it along with my first pay check and settlement allowance at the end of my first month of teaching, so be prepared to only get it as late as that.
Total Benefits = 1.7 million won ($1700)
So those are the benefits you receive but only after your first month of teaching. Now let’s look at the costs and how much those add up to.
Cost To Start Teaching English In Korea?
The the two main costs are your flight over and living expenses for the first month in Korea, before you’ve received your first paycheck and and benefits.
1) The flight
+- 1 million won ($1000)
Like a mentioned before, the cost of your flight will depend on what country you’re flying from, when you purchase it and how close to the date you purchase it. If you come through EPIK, they will often only let you know the dates you’re flying out quite late. This means you may have to buy a more expensive ticket. However, overall the $1300 you receive should cover even a relatively expensive one way ticket. Most people I know got one for under this amount.
2) Cost of living for your first month
+- 1 million won ($1000)
This is the most overlooked cost because a lot of people forget they have to teach for a whole month before they get their first pay check. EPIK recommends bringing $1000 to keep you going. This SHOULD cover your first months expenses, however, it’s only half what you get paid on a monthly basis so it can be quite tight depending on how much you’re spending in your first month.
Personally, I found it to be not quite enough, as I hit the ground running, doing lots of things, buying things, going out and generally just not paying to much mind to how much I was spending. This is easy to do when in the back of your head you’re thinking about how much money you’re making per month. You also don’t have a good sense for what’s cheap and what’s expensive yet.
Overall I’d recommend bringing a bit more than that if you want to comfortably make it through the first month. If you’re on a tight budget, though, you can definitely make it through the first month on $1000 if you just act a bit more responsibly about it 🙂
Total Costs = 2 million won+ ($2000+)
Okay so that’s your cost to start teaching in Korea. So how much does that leave you with?
Your Final Balance
Benefits = entrance allowance + settlement allowance
= 1.7 million won ($1700)
PLUS first months salary of 2.1 million won ($2100)
= 3.7 million won ($1700)
Costs = flight + first months living expenses
= +-$2000
TOTAL
Benefits + Salary – Costs
= 1.7 million won ($1700)
Your final total after the first month is $1700 so you’re left over with a good sum of cash. This is plenty to keep you going to your next pay check as well as save or spend. After this you’ll be earning your regular salary which is a good one 🙂
Hopefully this was helpful in showing you about the cost to start teaching English in Korea and how important it is to have money saved up before you come over here to get you going until you’re paid. I’d recommend saving up in advance if you you’re planning to come teach in Korea so you aren’t in an awkward position before you come over.
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