Capitalizing On a Bad Economy to Put Yourself Ahead

The last time I was in a difficult economy, I was able to capitalize on it. I had half a year’s teaching experience in South Korea under my belt when the economy in Korea—and throughout Asia—took a nosedive.

Part of the reason for the Korean economy’s failure was capital flight, and part of the reason was because of business practices that were not done with enough foresight. When the IMF intervened in Korea, the global organization imposed harsh conditions and thousands were left without jobs.

Many men would leave their houses dressed in their suits and ties as if they were going to work because they were too ashamed to show their families the harsh realities of their economic situations.

I left the country earning a lower hourly wage than a worker at McDonald’s would earn. My boss was cruel and refused to pay his Korean employees for several months; they remained at their jobs in hopes that he would eventually pay them their remaining salaries.

I took what little money I had saved and took a trip to Southeast Asia and went back to the United States to try and find a job. Soon after, I was contacted by a friend who had landed a prime job in Korea. Because of the low exchange rate, the place of employment was having a harder time finding experienced teachers.

I was unsure about whether or not I wanted to take the job. I wasn’t smitten with South Korea and didn’t want to go back after I had been treated so cruelly there. But I went because it seemed like the right thing to do at the time. The job was too good to pass up, even though the wages were extremely low because of the Korean won exchange rate, which had plummeted against the dollar.

But it was only because of the exchange rate that I managed to get such a good job in the first place. My place of employment was usually looking for teachers with Master’s Degrees and much more experience.

I’m wondering whether taking a lower paying job in the current economy might result in more opportunities for anyone who can afford to work for less. Gaining experience on your resume is almost as valuable (and some might argue more valuable) than a Master’s Degree in a non-specific field or from a degree mill. Sometimes you have to sacrifice to look for opportunities where there are none.