Workers’ threshold for high salaries at $63,000: Survey

[Graphics by Song Ji-yoon]

The psychological threshold for a high salary among South Korean workers is 85.5 million won ($63,000), a survey on Wednesday. The survey also indicates a preference for job changes over promotions as a quicker route to achieving higher pay.

According to the survey conducted by Job Korea on Wednesday in which 721 salaried employees participated, the average salary that respondents considered to be a high salary was 85.5 million won. Breaking it down by age groups, those in their 20s considered a high salary to be around 78.6 million won, while those in their 30s and those aged 40 and above set the bar at about 84.7 million won and 95.1 million won respectively.

When asked about the fastest way to achieve a high salary, 51.2 percent of respondents said that changing jobs was more effective than an internal promotion. This trend suggests a shift in the country‘s workplace culture, where long-term loyalty to a single employer is no longer seen as a virtue and job turnover therefore increases.