SEATTLE — As new information exhibits an unexpectedly excessive variety of younger Korean engineers hoping to maneuver abroad, those that have already crossed the Pacific provide a glimpse of what life is actually like on the opposite aspect. Korean professionals in Silicon Valley and Seattle agree that the U.S. provides higher pay and freedom, however job safety stays fragile and uncertainty runs excessive.
A latest survey from the Financial institution of Korea (BOK) discovered that just about two in three Korean scientists and engineers of their 20s and 30s are contemplating transferring overseas inside three years. For some, that dream has already come true — however the actuality isn’t with out its challenges.
“Truthfully, the pay distinction is large,” stated Lee Jae-kyung, 29, a software program engineer in Seattle. “I’ve buddies in Korea who’re in the same stage as I’m, however receives a commission a 3rd.”
The BOK survey outcomes confirmed that the common annual beginning wage in Korea was 58 million received ($42,000), whereas abroad, together with in the USA, it was about 2.8 instances increased at 163 million received. The hole widened additional after 10 years of expertise, with professionals in Korea incomes 85 million received in comparison with 342 million received overseas, greater than 4 instances as a lot.
One other software program engineer who landed a job within the U.S. after finishing her grasp’s diploma in Korea stated that increased compensation is clearly the largest benefit of working within the U.S.
“It’s nearly not even comparable on the entry stage,” stated Kim Hyo-rim, 28, who works for a startup primarily based in San Jose. “Buddies in Korea hold asking if I can join them to a job right here, however I can’t inform them to come back with out hesitation both.”
An exterior view of constructing BV100 throughout a tour of Google’s new Bay View Campus in Mountain View, Calif., Could 16, 2022. Reuters-Yonhap
Many say that layoffs are the largest worry they stay with on daily basis.
Trade information exhibits U.S. tech companies lower almost 158,000 jobs in 2024 as corporations pivoted from speedy progress to tighter value controls. Tech layoffs continued this yr, with greater than 100,000 staff laid off to this point, in keeping with Crunchbase, a San Francisco-based information analytics agency.
“It looks like nobody is secure,” stated Kim. “Not even the higher-ups. Everybody’s on edge at any time when one other spherical of layoffs hits. And lately, that’s fairly often.”
Korean engineers working within the U.S. say they admire merit-based workplaces however stay with the fixed reminder that robust efficiency doesn’t at all times assure stability.
“In Korea, I noticed sensible buddies caught as a result of promotions relied on seniority,” stated Park Ji-yeon, 33, a knowledge scientist within the Bay Space. “Right here, efficiency issues extra. Nevertheless it additionally means you’re solely pretty much as good as your final challenge.”
One other downside of working in the USA is the hovering value of dwelling.
“True, we make extra right here, however it prices that rather more to stay,” Park stated, including that Korea’s far decrease dwelling bills ought to be seen as an actual benefit for tech professionals there.
For a lot of, the cultural shift has been each liberating and disturbing. Korean-language tech communities within the U.S. are crammed with posts about layoffs, visa renewals and inexperienced card delays. But most nonetheless say the trade-off feels worthwhile.
“There’s a whole lot of freedom. Life general feels extra open right here,” stated Choi Dong-wook, 38, who labored briefly for a Korean tech agency earlier than incomes his grasp’s within the U.S. and discovering employment.
“It will depend on what you worth in life, however many of the Koreans I do know right here appear genuinely content material,” he stated. “Nonetheless, nobody ever feels fully secure from getting laid off tomorrow.”
Whereas Korean headlines concentrate on the excessive proportion of engineers wanting to depart, those that already did say the image overseas is extra sophisticated. Life within the U.S. tech business usually means increased salaries and a extra relaxed work tradition, however that comes with the uneasy consciousness that stability can vanish with a single restructuring e-mail.
