Working Abroad vs. Staying Home — Why Salary Alone Doesn't Tell the Story

Is 3x the Salary Really 3x?

Say a senior developer in Silicon Valley makes $200K. In Korean won, that's about 280 million. If the same level in Korea pays 80 million won, that's a 3.5x difference. A lot of articles look at that number and conclude you should move to the US. But when I talk to colleagues actually working in the US, Japan, and Singapore, the reality is way more complicated.

US: Taxes and Rent Take It All

From that $200K, here's what comes off the top. Federal tax plus California state tax runs 35-40%. That's $70-80K gone right there. Family health insurance costs $5,000-10,000 per year out of pocket. It doesn't end with a national health plan like in Korea.

Housing is the big one. Average rent for a 1-bedroom near San Francisco is $3,000 per month — $36,000 per year. That's 4x a studio in Gangnam. Lunch runs about $25 with tip as a baseline.

Using Numbeo's cost of living index, San Francisco is roughly 2x Seoul. If salary is 3.5x but cost of living is 2x, your real purchasing power difference is about 1.7x. Still higher, sure, but a far cry from 3.5x. (A lot of people are disappointed by this gap.)

Japan: The Difference Is Smaller Than You'd Think

A backend developer with 5 years of experience in Tokyo averages 7-8 million yen, roughly 65-74 million won. Similar to Korea, or slightly higher. Surprisingly, Tokyo housing can actually be cheaper than Seoul in some cases. The average 1DK apartment within Tokyo's 23 wards runs about 100,000 yen (~930,000 won), which is less than the Gangnam area.

Japan's advantage is stability. Firing full-time employees is extremely difficult legally, so you're relatively safe even during downturns. Fundamentally different from US at-will employment. The downside is that salary growth is gradual. It's not a culture where you dramatically boost your pay by job-hopping.

Singapore: The Tax Situation Is Attractive

For seniors, SGD 120,000-180,000 — roughly 120-180 million won. Higher than Korea, lower than the US. But the top income tax rate is 22%, with an effective rate of 10-15%. No capital gains tax, no dividend tax, no inheritance tax. Long-term, this makes a huge difference for wealth building.

Housing is expensive though. Renting an HDB flat runs SGD 2,500-3,500 per month, about 2.5-3.5 million won.

Everyone Says Moving Abroad Is Great

But the costs that don't show up in numbers are significant. You're leaving behind your friends, family, and professional network. Building that from scratch in a new country takes at least 3-5 years. The loneliness and stress during that period are hard to put a price tag on.

Visa stress is real too. H-1B uncertainty, Japanese work visa renewals, Singapore EP application headaches. The sleepless nights over visa issues don't show up in salary comparisons.

Language and cultural barriers exist even if you work in English. Going to the doctor, dealing with government offices, chatting with neighbors — you need the local language for all of that. The isolation this creates is bigger than most people expect.

It Comes Down to Why You Want to Go

If you decide based solely on salary comparison charts, there's a high chance of regret. On the flip side, ruling out working abroad just because the salary gap isn't huge doesn't make sense either. Bigger technical challenges, global experience, exposure to different cultures — if those are your motivations, working abroad can be incredibly rewarding. If it's purely about money, you'll likely be more disappointed than expected.

But honestly, saying money doesn't matter feels like hypocrisy too. It's different for everyone, and there's no clean answer here.