How much money is it possible to save every month?

How much money you save each month depends largely on your lifestyle, but it isn’t difficult to save between $1,000-$1,500 per month while still enjoying a comfortable standard of living. One reason why it is so easy for foreign English teachers to save money in Korea is because the cost of living is relatively low. As an English teacher in Korea, your monthly rent and half of your national health insurance plan are paid for by your employer, so this helps you save money as well.

Can you give me an idea of just how low the cost of living is in Korea?

Below is a chart that shows the average cost of products and services in Korea.

How does the monthly pay vary according to your education level?

The monthly salary increases according to your education level. With a bachelor’s degree, you will on average make W2,000,000 per month. With a master’s degree, the pay increases typically between W200,000 to W500,000 extra per month. With a doctorate degree, the pay increases even further per month. A certificate in TESOL or TEFL, meanwhile, can help you earn an additional W100,000 to W300,000 per month. LiveEnglish will help you negotiate the best salary possible in accordance to your experience.

How does the monthly pay vary according to your work experience?

If you have prior experience as a teacher, it is possible to receive a higher monthly salary. Without work experience relevant to English education, however, it is more difficult to receive a higher monthly salary. LiveEnglish will help you negotiate the best salary possible in accordance to your experience.

What can you expect to earn with a master's degree as compared with a CELTA qualification?

In Korea, a master’s degree in TESOL is optimal and slightly more preferred to a CELTA qualification. However, teachers who hold either a degree in TESOL or CELTA qualification are all highly sought after and equally well-compensated.

What’s the exchange rate?

A general rule of thumb is $1.00 USD equals W1,000 KRW. This fluctuates, though, so for an up-to-date exchange rate, you can check www.xe.com.