Young Koreans under 30 spend 10 months to land their first job

2021.07.20 15:19:49

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It takes an average 10 months for young Koreans to find their first job upon graduation, which pay less than 2 million won ($1,737) a month.

According to a survey released by Statistics Korea on Tuesday, it took an average of 10.1 months for young Koreans aged between 15 and 29 to find their first wage job.

Just about half of them, or 47.4 percent, land their first job within three months after graduation. Around 12 percent spend one to two years to get their first job, 6.7 percent two to three years and 8.2 percent more than three years.

It takes one year and 2.2 months on average for those with less than high school education to find their first job, much longer than 7.7 months for those with a college degree.

More than seven out of 10 young people, or 73.3 percent, received less than 2 million won monthly in their first-year pay, according to the survey.

The largest proportion of 37 percent received between 1.5 million won and 2 million won, followed by 23.2 percent with 2 million won and 3 million won and 20 percent 1 million won and 1.5 million won.

Gender pay gap is also significant for those young employees.

For male workers, 31.7 percent receive more than 2 million won for their starting monthly salary, compared with just 22 percent for female workers.

Young Koreans spend an average of one year and 6.2 months at their first company, the survey found.

The most cited reason for leaving the first job is unsatisfactory working conditions such as salary or working hours picked by 46.2 percent of the respondents. It was followed by personal matters such as child-raising or marriage with 14.5 percent and termination of contract with 13.2 percent.

By Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]