Helpful Resources for Making it Big in Korea
Top Salary for New College Graduate Employees - who pays the highest in Korea?
According to recent article from the Money Today, Hyundai Mobis offered their new "college graduating" employees the most amount of monetary benefits (base + bonus + other incentives). Fresh new college graduates will get paid the equivalent to $51,260 dollars (USD), or 59 million KRW in local currency.
Below and attached is a list (table) of the Top 10, and below is a link to the original article - only provided in Korean (no English). Samsung Electronics was 21st on this list.
Original Newspaper Article (in Korean only): http://autom.mt.co.kr/news/news_article.php?no=2012011209101678142
| KRW | USD | EUR | CNY | JPY | ||||
| Exchange Rate | 1,151 | 1,476 | 182 | 14.99 | ||||
| 1 | Hyundai Mobis | 59,000,000 | 51,260 | 39,973 | 324,176 | 3,935,957 | ||
| 2 | Hyundai Motors | 57,000,000 | 49,522 | 38,618 | 313,187 | 3,802,535 | ||
| 2 | SK Telecom | 57,000,000 | 49,522 | 38,618 | 313,187 | 3,802,535 | ||
| 4 | Kia Motors | 54,000,000 | 46,916 | 36,585 | 296,703 | 3,602,402 | ||
| 5 | Hyundai Steel | 53,000,000 | 46,047 | 35,908 | 291,209 | 3,535,690 | ||
| 6 | Samsung Heavy Industries | 50,000,000 | 43,440 | 33,875 | 274,725 | 3,335,557 | ||
| 7 | Hyundai Heavy Industries | 49,000,000 | 42,572 | 33,198 | 269,231 | 3,268,846 | ||
| 8 | Hyundai Glovis | 47,000,000 | 40,834 | 31,843 | 258,242 | 3,135,424 | ||
| 9 | Samsung Engineering | 44,000,000 | 38,228 | 29,810 | 241,758 | 2,935,290 | ||
| 10 | POSCO | 43,000,000 | 37,359 | 29,133 | 236,264 | 2,868,579 | ||
| 21 | Samsung Electronics | 39,500,000 | 34,318 | 26,762 | 217,033 | 2,635,090 | ||
| 30 | Lotte Shopping | 33,000,000 | 28,671 | 22,358 | 181,319 | 2,201,468 | ||
- Attachments:
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Top Ten Salary 2012.xls, 21 KB
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Replies to This Discussion | 이 토론에 대한 답글들
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Permalink Reply by Mike Park on -
What do you think about these numbers? Do they look high? Personally, I was quite surprised to see such high numbers as I had thought the average income for a new college graduate in Korea was in the range of 23,000,000 to 40,000,000 KRW (depending on industry: low for manufacturing/retail and higher for services industry).
I guess my expectation range could still be true since the above table has the top 30 companies only. It would have been nice to see more companies - for example, the top 100.
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Permalink Reply by Steven S. Bammel on -
Korean official salary numbers have always seemed misleading, though I think they are more straightforward than they used to be. I remember first getting to Korea way back when and hearing sob-stories from Koreans about how little they said their salary was... until figuring in bonuses and other non-salary compensation. That's changed quite a bit by now, hasn't it?
As for those numbers, yes, they seem surprisingly high to me for an entry-level position. But they probably include salary and bonuses. If Mobis is just up at the top for 2010 simply because they had a great year and bonuses went out, then next year Mobis will have to repeat or else it'll be another company where the employees get lucky, no?
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Permalink Reply by Mike Park on
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The article says that 59 million KRW is the equivalent to someone who has worked 15 years - chajang level - at small-/medium-size companies. You're right, Mobis may not be at the top of the list next year; and luck (some luck - small degree) may play for calculating income - which you really can't calculate...
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