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When I first came across the idea of teaching English in Korea one of the things I heard at the same time that it was good money.

Of course, “good money” is relative so you might want more specifics on the matter. So I went ahead and broke it down nicely for ya. After doing so I have come to the conclusion that, yes, it is very “good money” in my books.

That being said, I’ve been a broke student for the last few years so it doesn’t take all that much to impress me. But let’s get to it and you can decide for yourself.

Teaching English in Korea Salary

To start off with, most jobs in Korea pay around the same salary to a teacher just starting out. It may vary a bit from place to place but you can expect somewhere between 2 million to 2.2 million Won per month if you have a generic degree plus a TEFL.

“2 MILLION won?? So you’re saying I’m going to be a millionaire every month?? “

Yes… In Won. That’s about $2000 per month.

Here in South Africa that’s already way more than you can usually expect to make straight out of varsity. Not a bad start.

What really makes it a good gig, though, is the perks.

The Perks

The teaching English in Korea salary is only half of what makes things so sweet. There are are like gazillion bonuses and extras that should definitely impress you:

1) They Pay For Your Flight

Not only that, but they give you WAY more than you actually need. They call it a “settlement allowance” and it’s as much as 1.3 million won a.k.a $1200.

My flight cost me half that. I got to pocket the rest.

You can check out this article for what I packed to take over.

2) They Pay For Your Accommodation

You get an apartment all nicely set up and waiting for you. No costs. Totally free digs.

3) You Don’t Pay Any Tax

Yup, nothing. For your first two years. I don’t think Korean tax is that high anyway but this means your whole paycheck is yours.

4) You Get Medical Cover

Korean’s have some really good health care. Everything I’ve heard about the medical system puts other countries to shame.

5) You Get A Bonus

How much depends on whether you renew or not. But it can be up to a full pay check amount. That seals the deal pretty nicely.

Living expenses

And here’s the kicker.

You can expect to spend as little as 1/4 to 1/2 of your salary on living expenses. We’re talking groceries, transport, and all those annoying little expenses covered. The money over and above that is yours to do what you want with.

How much can you save?

All that adds up to a pretty great teaching English in Korea salary situation.

Like I mentioned, you’ve got around half your salary to spend on whatever you like. If you’re good with money you might be able to save all of that, plus that nice bonus at the end.

I’ve heard of people saving up to $15 000 a year or more.

Of course, if you’re like me you’ll probably spend a lot of it on traveling and buying cool gadgets and stuff.

So then it will be a question of how much FUN you want to have versus how much you want to save.

Either way, I’m pretty sure you can see that’s its a great setup you’ll have over there. And all you have to do is teach a few classes a day to cute little kids!

Teaching in Korea

Tags: How Much Can You Make, Money, Salary