So I received my first paycheck on the 10th, and it sat in my account for a week until I finally did something with the money yesterday. We are paid once a month, on the 10th. Because I started on the 15th, I lost 5 days worth of pay and received 1.9 million won ($1400 US) which is actually not much less than I will be making with a full month of work. I get my first full paycheck on December 10th, my birthday. A very nice gift indeed. I should be making about $1800 a month after health insurance, pension, and various other fees are taken out. Luckily once I leave I will be reimbursed all this money, plus a severance package and tax. All I have to do is keep all my receipts and I will be refunded all the tax I’ve paid since I’ve been here.
This means: I’m living rent-free, tax-free, and with limited expenses, allowing me to send home about $1000 a month, all of which will go towards my student loans and various other bills, and a small amount towards savings and investing. So excited to finally be able to start doing all this.
It’s still surreal to think that someone is actually paying me for going to college. This is the most money I’ve ever earned in my life so far, and I like it! Much nicer than working at a car rental counter for 40 hours a week.
Congratulations, it’s a big moment
Talia
November 19th, 2009
not exactly tax free- you’ll still have to pay US income tax!
julie
November 19th, 2009
Well I’ll have to file my taxes in the US, but as long I make less than $30,000 a year I won’t have to pay any taxes on the money I make while abroad. Eat it!
Justin
November 19th, 2009
Thats all your making? Well, I guess we cant be as great as me.
Colonel Fernandez
November 28th, 2009