Browsing through the ads here, and around, I see the pay is not going up in line with costs. I think any offer below 2.5 million should not be considered. Two million won is not the 2m of the early 2000s. just look at the increase in prices of beer, ciggies, food and housing.
I think this was the same thing said about five years ago. Hakwans """"seem """"to be struggling these days in the main. If you cannot afford the extra 200 bucks, then you should not be in business. An average- sized Hakwan, decent earner should have at least 60 students. They claim poverty, but I beg to differ.
I would say that a really good one would have 150 kids. I am seeing an average of 50-60. If you do the numbers, the money is okay. In my experience, the Hakwan of yesteryear could afford four teachers and a Waygook. In those days, pre-2007, a Hakwan might have 140 kids.
Nowadays, a Hakwan might have two Korean teachers and a foreigner, maybe. Sometimes, only employed parttime. They are still making a decent profit, driving a decent car, and taking great holidays abroad. Maybe clearing a healthy 6-10million. I mean 60 kids at 300,000won a month. Minus the salaries, expenses, fees and costs.
I am baffled by the offers of 2-2.3m. Then waiting months for a teacher whilst business declines further in the main.If a hakwan makes 20 million a month, they could afford the extra 3,600 a year. I mean 2.3 plus 3.
More people move away from here: China, Vietnam, Cambodia, Laos and others are there. I think you need to rewire your mindset on the money. These Waykooks are part of your team. Make it worth it. give employees an incentive to stay. Or, face transient workers and employment gaps.
The market has changed it seems, but not the cast.