Expected Salaries
The average expected salary of college graduates who are currently looking for jobs is approximately 25 million won (US$24,715).
Career portal Jobkorea conducted a survey of 621 male and female job seekers about “expected salary upon being hired” on July 7. The survey showed that male job seekers want 27.8 million won (US$27,484), and females want 24.2 million won (US$23,922). This is not that high compared to the entry level salary of college graduates provided by companies in 2012.
According to the “2014 entry level salary of male college graduates” published by Jobkorea, the entry level salary of big corporations per year is 37.07 million won (US$36,648), public companies 30.05 million won (US$29,708), foreign companies 29.8 million won (US$29,457), and medium and small-sized companies 25.8 million won (US$25,506). Job seekers and companies do not have very different views on salary level.
Then, the survey asked, what are the other important criteria for job seekers to select a company other than salary?
There were many answers, including “whether I could do what I have wanted” (45.9 percent) as the number one factor, “not much overtime work and freedom to use my days off” (36.4 percent) as the second, “whether there are enough opportunities to learn” (31.1 percent) as the third, and “friendly co-workers and a fun environment to work” (26.5 percent) as the last.
Medium and small-sized companies that guarantee the private lives of individuals and friendly working environment could attract smart and competent candidates, even with relatively lower salaries than big corporations or public companies.
However, even with many other good working conditions, there was a minimum intolerable salary level. Men and women both answered that they would not work no matter what if the average salary is below 18.7 million won (US$18,487); males saying below 23 million won (US$22,736) and females below 18.3 million won (US$18,091).