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How much money do I need to bring? How long before I get paid?
For teaching abroad, you should bring a minimum of $500 for your trip over to teach English in South Korea. This will allow you to get settled in with a few necessities, keep yourself well-fed, and perhaps even venture out a few times on some mini-excursions in your area. Depending on your spending habits we suggest you bring $700-1000.
Most ESL schools pay you at the beginning of each month. Your first pay check may not be for at least a month, so try to bring enough money so you can have some fun.
If you do have a credit card/ATM card you can always access your money from the ATM machines. Speak to your bank before you leave to make sure it is activated. |
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How often do I get paid?
Teachers will get paid a monthly salary. ESL schools have their payday around the first week of every month. It is important for English teachers to bring some money with them to tide them over for at least 6 weeks. We usually suggest between $700 and $1000 as a ball park figure. This way you will have some extra money to enjoy South Korea on your days off. Most teachers love to travel on the weekends. Getting a job overseas is a great way to explore another country. Don't just teach - get out there and explore! |
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What will be deducted off my pay cheque?
The breakdown and deductions that you will have to pay are as follows:
Income Tax approximately 1.5% of your income
Pension approximately 4.5% of your income with the possibility of your being refunded twice that amount at the end of your contract. This depends on your nationality.
Finally, your health insurance deduction will be approximately 2% of your pay cheque.
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Will I need a Korean Bank Account?
Yes, absolutely! Most schools deposit your salary directly into your bank account. Someone from the school will accompany you to the bank when you arrive and assist you in setting up a bank account. This will be most helpful as you will be able to use the bank machines as well as send money home regularly should you want to do that while working abroad. |
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