Average General Manager Salary in South Korea for 2024

In this article, we will look at the average General Manager salary for 2024 in South Korea and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the South Korean won. To keep things simple, we are using the KRW currency code instead of the currency symbol โ‚ฉ.

How Much Does a General Manager Make in South Korea?

A General Manager working in South Korea will typically earn around 72,481,900 KRW per year, and this can range from the lowest average salary of about 33,360,800 KRW to the highest average salary of 115,201,600 KRW.

Average Annual Salary
72,481,900 KRW
Average Monthly Salary
6,040,158 KRW

Lowest Annual Salary
33,360,800 KRW
Lowest Monthly Salary
2,780,066 KRW

Highest Annual Salary
115,201,600 KRW
Highest Monthly Salary
9,600,133 KRW

These are average salaries for a General Manager in South Korea and include benefits such as housing and transport. It's also possible for a General Manager to earn more or less than the average salaries shown above.

General Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of General Manager Salaries in South Korea

So we've looked at the average salaries a General Manager will earn in South Korea. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a General Manager can earn between 33,360,800 KRW and 115,201,600 KRW on average in South Korea. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a General Manager in South Korea is 78,241,300 KRW. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 78,241,300 KRW, and 50% of the population earn more than 78,241,300 KRW.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average General Manager salary in South Korea, 25% of the population are earning less than 50,158,700 KRW while 75% of the population earn more than 50,158,700 KRW.

75% of the population earn less than 104,398,800 KRW, and 25% of the population earn more than 104,398,800 KRW.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

General Manager Salary by Experience Level in South Korea

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average general manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A General Manager in South Korea that has less than two years of experience can expect to earn somewhere in the region of 37,800,500 KRW.
  • 2 - 5 Years Experience. With two to five years of experience the average General Manager salary would increase to 50,519,600 KRW.
  • 5 - 10 Years Experience. From five to ten years of experience as a General Manager, the average salary would be 74,639,200 KRW.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 91,079,200 KRW.
  • 15 - 20 Years Experience. A General Manager with 15 to 20 years of experience can earn an average of 99,241,400 KRW.
  • 20+ Years Experience. For a General Manager with more than 20 years, the expected average salary increases to 107,400,700 KRW.

Average Salary by Experience Chart

0-2 Years
37,800,500 KRW
2-5 Years +34%
50,519,600 KRW
5-10 Years +48%
74,639,200 KRW
10-15 Years +22%
91,079,200 KRW
15-20 Years +9%
99,241,400 KRW
20+ Years +8%
107,400,700 KRW

General Manager Salary by Education Level in South Korea

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a General Manager in South Korea based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A General Manager in South Korea with a high school education can earn an average salary of 46,438,700 KRW.

  • Certificate or Diploma. A General Manager in South Korea with a certificate or diploma education can earn an average salary of 54,600,600 KRW.

  • Bachelor's Degree. A General Manager in South Korea with a bachelor's degree education can earn an average salary of 79,200,600 KRW.

  • Master's Degree. A General Manager in South Korea with a master's degree education can earn an average salary of 103,681,100 KRW.

Average Salary by Education Chart

High School
46,438,700 KRW
Certificate or Diploma +18%
54,600,600 KRW
Bachelor's Degree +45%
79,200,600 KRW
Master's Degree +31%
103,681,100 KRW

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in South Korea is around 19,400,000 to 58,300,000 KRW and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

General Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In South Korea, a male general manager will earn an average of 75,121,900 KRW, while a female general manager will earn around 69,721,100 KRW.

This means that a male general manager earns approximately 8% more than a female general manager for performing the same job.

Average Salary by Gender Chart in South Korea

Male
75,121,900 KRW
Female -8%
69,721,100 KRW

General Manager Average Pay Raise in South Korea

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a General Manager in South Korea is around 14% every 16 months.

The national average pay raise across all professions and industries in South Korea is around 9% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 14 ÷ 16 ) × 12  = 11%

What this means is that a General Manager in South Korea can expect to receive an average pay raise of around 11% every 12 months.

Annual Pay Raise by Industry in South Korea for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in South Korea.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

General Manager Bonus and Incentive Rates in South Korea

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A General Manager is a high bonus based job, with 85% of employees reporting at least one bonus in the last 12 months.

15% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.

Received Bonus
85%
No Bonus
15%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in South Korea earn approximately 6% more than private sector employees in the same role.

Public Sector
47,880,300 KRW
Private Sector -6%
45,239,100 KRW

Salaries for Jobs Similar to a General Manager

In the table below, we have salary information for jobs that are similar to a General Manager in South Korea.

Job Title Category Salary
Assistant Business Development Manager Business Planning 65,759,500 KRW
Assistant Merchandise Planner Business Planning 37,681,400 KRW
Business Advisor Business Planning 58,680,100 KRW
Business Analyst Business Planning 58,798,900 KRW
Business Consultant Business Planning 58,079,300 KRW
Business Continuity Associate Business Planning 36,240,700 KRW
Business Developer Business Planning 37,078,800 KRW
Business Development Analyst Business Planning 41,638,700 KRW
Business Development Associate Business Planning 31,081,900 KRW
Business Development Coordinator Business Planning 33,001,000 KRW
Business Development Director Business Planning 82,198,700 KRW
Business Development Engineer Business Planning 46,438,700 KRW
Business Development Executive Business Planning 61,561,100 KRW
Business Development Manager Business Planning 78,358,100 KRW
Business Development Specialist Business Planning 58,798,900 KRW
Business Manager Business Planning 66,359,800 KRW
Business Operations Specialist Business Planning 55,081,300 KRW
Business Process Writer Business Planning 35,521,100 KRW
Business Systems Analyst Business Planning 62,279,800 KRW
Capacity Planner Business Planning 42,839,200 KRW
Capacity Planning Supervisor Business Planning 58,079,300 KRW
Change Communications Analyst Business Planning 55,440,900 KRW
Change Control Analyst Business Planning 57,479,000 KRW
Change Impact Analyst Business Planning 58,919,600 KRW
Contracts Executive Business Planning 58,319,900 KRW
Corporate Strategy Analyst Business Planning 62,279,800 KRW
Cost Control Engineer Business Planning 39,481,900 KRW
Cost Controller Business Planning 45,239,100 KRW
Cost Estimator Business Planning 38,158,300 KRW
Data Executive Business Planning 31,201,500 KRW
Data Manager Business Planning 44,519,300 KRW
Data Processing Manager Business Planning 51,479,800 KRW
Development Researcher Business Planning 43,680,700 KRW
Director of Business Development Business Planning 82,198,700 KRW
Director of Production Planning Business Planning 70,438,600 KRW
Due Diligence Analyst Business Planning 65,401,000 KRW
Estimating Manager Business Planning 61,199,900 KRW
Incident Handler Business Planning 40,921,600 KRW
Incident Specialist Business Planning 50,998,800 KRW
Lean Consultant Business Planning 46,080,100 KRW
Manager Business Planning 78,358,100 KRW
Marketing and Business Development Manager Business Planning 74,161,900 KRW
Materials Planner Business Planning 25,079,200 KRW
Merchandise Assistant Business Planning 24,239,000 KRW
Merchandise Controller Business Planning 24,599,500 KRW
Merchandise Planner Business Planning 25,440,400 KRW
Operations Analyst Business Planning 53,521,300 KRW
Operations Manager Business Planning 61,080,900 KRW
Operations Research Analyst Business Planning 37,201,700 KRW
Planning and Reporting Manager Business Planning 64,801,300 KRW
Planning Director Business Planning 77,041,100 KRW
Project Administrator Business Planning 38,399,900 KRW
Project Manager Business Planning 61,799,000 KRW
Project Planner Business Planning 38,281,500 KRW
Research Assistant Business Planning 33,599,200 KRW
Research Engineer Business Planning 38,521,100 KRW
Research Officer Business Planning 28,801,400 KRW
Risk Management Specialist Business Planning 58,319,900 KRW
Scholarship Coordinator Business Planning 30,119,100 KRW
Store Planner Business Planning 29,161,000 KRW
Strategy Director Business Planning 77,159,200 KRW
Top Research and Development Executive Business Planning 84,001,900 KRW

Salary Comparison by City

If you want to compare salaries with different cities in South Korea, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Bucheon 69,120,150 KRW
Busan 82,080,050 KRW
Daegu 81,118,850 KRW
Daejeon 80,639,700 KRW
Goyang 75,179,700 KRW
Gwangju 80,100,050 KRW
Incheon 81,659,750 KRW
Seongnam 71,761,000 KRW
Seoul 87,058,450 KRW
Suweon 75,420,400 KRW
Ulsan 75,780,300 KRW

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  • "Average General Manager Salary in South Korea for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-general-manager-salary-in-south-korea/.

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