It has been a long time since I blogged. As you know from my previous blog (in May 2017), I was able to obtain the F-2-7 Visa. This allowed me to stay, live, and work in Korea without a work visa.
From March to June, I was working as an independent contractor working in four different companies. I was teaching at LIG Nex1, Oracle, and CJ Express. I also held a training course with Ibis Styles Ambassador. Being my own boss had both its advantages and disadvantages.
- MY OWN BOSS: Yes, I did work for an agency that outsourced me to the three companies I listed above, but I was able to teach my way. Of course, there were some guidelines, but again I did not need to follow it 100%. I was also able to decline classes, accept classes, and so on.
- INCOME: Because I was able to select my own schedule, I had a higher income potential. If you look at other corporate teaching jobs in Korea, you can see that the salary ranges from 2.2 million won to 3.2 million won. The two agencies that I worked with paid me an hourly rate of ￦35,000 and ￦45,000 an hour. These two rates were the probationary rate. If I continued, the hourly rate would have been around ￦50-55,000 an hour. In addition to working with the two agencies, I also landed my own contract with a hotel in Korea. I conducted a business e-mail training course at a hotel in Gangnam. The hourly rate that I charged for that gig was ￦200,000 an hour. Additionally, I also had private students that I met on a weekly basis (2 hours per meeting).
- INCONSISTENT CASH FLOW: I mentioned above that income was one of the benefits of being a freelancer. But one thing to consider is the class schedule. There are times when programs are on hiatus for two to three months. Some months I was making ￦6 million a month and some months my salary was only ￦1.5 million.
- NO BENEFITS: No healthcare insurance. No pension benefits.
- OTHER DISADVANTAGES: No co-workers, traveling time, annoying schedule, class cancellations, etc.
In June I was offered a position at as a corporate trainer at my old company. I was quite hesitant to accept the offer because I really enjoyed the life as a freelancer. After much debate, I decided to take the offer since it had more benefits.
- PROS OF THE NEW JOB:
- High salary
- Free meals (breakfast, lunch, dinner)
- Transportation cost reimbursement
- Working at Hyundai Motor’s Group training facility (named Hyundai University)
- CONS OF THE NEW JOB:
- Living in the company dormitory during the week. Shared room with another instructor.
- Located in the countryside. Nothing to do.
- No privacy.
- Intense work hours. 10-11 teaching hours a day. I’m not really complaining because I love teaching. More hours = $$$
I just completed my 5th-month teaching at HMG and I am loving it!
Next Post: My savings plan