The Truth about Average Salary & Working Culture in Korea

Summary

In this video, Gina Kim from the 'It's Gina Kim' channel shares insights into Korean working culture, salaries, and work-life balance. Broadcasting from Seoul, she discusses the reality of working in Korea, touching on average wages, working hours, overtime, and the influence of older generations on current work habits. Gina also compares holiday entitlements and living costs in Korea to other countries, sharing her personal experiences. She highlights the changing work environment, especially in startups, and concludes with a reflection on societal expectations regarding success. Gina encourages viewers to engage with her channel for more content on Korea.

Takeaways

• 😀 Korean work culture typically involves longer hours, with a 9-to-6 workday being common, especially compared to the standard 9-to-5 in other countries.
• 😓 Many companies in Korea do not offer extra pay for overtime, and it can be expected if deadlines aren't met or if the boss stays late, as a hierarchical culture still exists.
• 🎉 National holidays are usually respected, but some industries, such as manufacturing and construction, may require employees to work even during these times.
• 🏖️ For vacation days, employees typically get one day off per month worked, and after working for 12 months, they accumulate 12 days off.
• 💼 Korean working culture has been influenced by past generations, particularly due to the economic hardships experienced by their parents, where working long hours was common.
• 🤑 The minimum wage in Korea is $7.60 USD per hour, which the speaker believes is neither too low nor too high compared to other countries.
• 💰 Young professionals in their early 20s can expect an average salary of around $28,000 USD per year, with college graduates earning around $34,000 USD annually.
• 📊 In their 30s, college graduates may earn an average of $38,500 USD annually, with top earners receiving up to $45,500 USD per year.
• 🚗 Cost of living in Korea, especially in Seoul, is relatively lower compared to countries like the US, and public transportation makes owning a car unnecessary for many.
• 🤔 The societal pressure to follow a traditional path (good college, job at a big company, marriage) is strong in Korea, but the speaker emphasizes that personal success should be defined individually.

Q & A

What is the main focus of Gina Kim's YouTube channel?

Gina Kim's YouTube channel focuses on Korean culture, life in Korea, and related topics such as working culture and salaries in Korea.

What is the typical working schedule in Korea according to the video?

The typical working schedule in Korea is from 9 AM to 6 PM, Monday to Friday, totaling nine hours per day. However, some industries, like manufacturing and construction, may require employees to work on Saturdays as well.

Is overtime pay common in Korean companies?

According to Gina Kim, overtime pay is generally not common in Korea. While some companies may offer extra pay for overtime, most do not, and employees often work extra hours without additional compensation.

How do holidays and vacation days work in Korea?

In Korea, employees typically have national holidays off, although some industries may require work on holidays. For vacations, employees receive one day off per month worked, accumulating 12 days off after a year of work. Some companies also offer additional summer vacation days.

What is the current minimum wage in Korea?

The minimum wage in Korea is 7.6 USD per hour.

What is the average annual salary for a 20-24-year-old worker in Korea?

The average annual salary for a 20-24-year-old worker in Korea is around 28,000 USD, which amounts to approximately 2,330 USD per month.

How does salary increase with age and education in Korea?

For workers aged 25-29 who have graduated from university, the average annual salary is around 34,000 USD. For those in their 30s, the salary increases further to 38,500 USD annually for those with a college degree, with top earners in their 30s making around 45,500 USD per year.

Why does Gina Kim emphasize negotiating your first salary?

Gina Kim emphasizes negotiating your first salary because it sets the standard for future jobs. Employers in Korea often base salary offers on the applicant's previous wage, usually offering a small percentage increase.

How does the Korean working culture differ from previous generations?

In previous generations, the Korean working culture was much stricter, with long hours, hierarchical relationships, and mandatory overtime. Workers also had to engage in after-work drinking with their bosses, which was a part of the corporate culture. Today, while this still exists in some traditional companies, many modern startups and younger CEOs have adopted more flexible working environments.

How does the cost of living in Korea compare to other countries, according to Gina Kim?

According to Gina Kim, the cost of living in Korea is lower compared to the United States. She mentions that meals, such as lunch, can be as affordable as 5 USD, and transportation is convenient, making it unnecessary to own a car in Seoul.