Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Wednesday, February 4, 2009

A Sad Day....

Today was the first day of a new schedule at SLP. Older students moved to later times, small classes combined with others and my schedule has completely changed. I lost my big beautiful 2 hour break on Tues/Thurs, but I did get one... 40 min. break on Mon/Wed/Fri. It's a rather bittersweet day, because I'm getting some new classes and loosing some. I lost 4 classes, but two of them I didn't particularly care for, they were my two least favorite classes.

I did loose my favorite class though too. They were a class of five 4th grade boys who had been at our hagwon since they were in preschool. These boys were totally troublemakers. But they were so darn smart and crazy I couldn't help but like them. I would bribe them to be good by buying them ddukbokki or sundaegochi or kimbab at the food stall in the lemon mart downstairs. Never thought I would spend my money on my kids, but I liked them so much I didn't even mind.

During the last month, three of the 5 boys dropped, and I was left with the two smartest. With the reorganization of classes, there is no way to justify teaching a class for only two students, so they were combined into our most advanced class... a class with a bunch of 1st and 2nd year middle school students (7th and 8th grade US). I'm a little sad for them, because they probably won't fit in in that class. Their speaking and vocabulary will be much too advanced for the other students. Not to mention they're going to loose that incredible classroom dynamic that they had as 5 boys who had been together for 5 years. I doubt they'll last much longer at SLP.

Kids seem to be leaving in droves. My supervisor said it's probably the economy.. and that might have something to do with it, though most kids that tell me they are dropping, usually tell me that it's because they are going to a different... better hagwon. On the 4th floor of our building (one floor up) there is a huge hagwon that not only has English classes, but also math and science too. It caters more to the older students. Our school is good for preschool, and it has a decent program for elementary school age students, but as far as older classes are concerned, our classes are not the best quality. Olympiad upstairs can offer the older students much more I suspect. Not only that, but a new hagwon is opening around the corner from us, and we may loose a lot of students to that school, since they advertise that they have only foreign teachers. Sounds like a terrible idea to me, but that's just me.

And, just to show that the economy is even affecting the job market here too for English teachers, at the end of this month, 5 of our foreign teachers' contacts end. Only 4 teachers will come and replace them, because there just aren't as many classes as there used to be.

One plus side of my sad day of class changes though, was one of my third grade students came back after being away for two months. He is pretty annoying and totally the class clown... but he makes me laugh. I missed him a lot.

Now I have to look forward to Thursday's class changes. No more breaks during the day. I'm picking up 4 completely new classes, and another class with 3 new students added. I forgot how hard it is to learn students' names.....

Wednesday, October 8, 2008

Where's my money???

No, no, I'm not getting screwed by my hagwon. I'm getting screwed by the economy instead. When I signed on for this job last may, they offered me a salary of 2.1 million won/ month. On May 16th, which is more or less around the time that I signed my contract, that was worth $2,024 USD. So, for 12 months, I figured I'd be making about $24,000 USD. I figured if I could save half of that, I would be able to pay off the great majority of my student loans... And life was good.

Since May, as we all know... the US economy has gone from bad to worse. The Korean government had a huge portion of thier pension funds invested in Lehman Brothers... and we all know what happend to them. Since that day, the Won has been falling. Every morning I turn on my computer to and see the headline on the Korean Herald telling me that the Won is falling lower and lower.

My mom was here visiting me this week, and I figured it would be a good idea to send home money so I don't have to pay the transfer fee. Well, I took 700,000 won out of the bank.. .I though maybe I would loose $60.00 or so. I didn't bother to do the math... I knew it was bad. But when they handed me $560.00, I kind of wanted to cry. It would of course figure that the won would start tanking as soon as I got here.

That was yesterday, when the won was at a 77 month low. Today I opened the Korean Herald to see that today it is at a 10 year low. I suppose it's a good thing I did convert my money yesterday rather than today... That means that today, my salary that they will pay me on friday will be worth: 1,506.

Let's put that another way. $1,000 won, which we generally call a dollar (because it usually is about a dollar) equals only .72 cents today. Yesterday it was worth 0.78 cents and last week it was in the 0.80 range.

That's enough to make a grown woman cry.