"Degree Alone Is Not Enough": TOEIC, Certifications, Resume Editing... Annual Private Employment Education Costs Reach 4.55 Million Won

Survey of 485 University Graduates Preparing for Employment

Private Education Expenses for Job Preparation Double in Three Years

The average annual cost of private education for employment among young people preparing for jobs after graduating from university has been found to exceed 4 million won. As the burden of private employment education expenses grows, a significant number of job seekers are reportedly working part-time jobs while searching for employment.

The KB Good Job Employment Fair was held on April 27 at COEX in Gangnam-gu, Seoul. Many job seekers visiting the fair are checking the job vacancy bulletin board. Photo by Dongjoo Yoon

On June 9, the Education Spring Foundation announced the results of a JobKorea survey of 485 university graduates preparing for employment, revealing that, as of last year, the average annual cost of private education for employment amounted to 4.55 million won.

The average annual cost of private education for employment, which was 2.27 million won in 2022, increased to 4.55 million won in just three years. On a monthly basis, this means that the average monthly expense for job preparation has risen by about 200,000 won.

The area where job seekers spent the most on private education was for obtaining major-related certifications (64.9%). This was followed by English test fees such as TOEIC (56.7%), non-major certifications (37.0%), acquiring IT and computer proficiency (32.7%), and employment consulting, such as personal statement editing (17.8%).

It was found that many job seekers are taking on part-time jobs due to the burden of private education expenses. 71.1% of respondents said they experienced financial difficulties while preparing for employment, and 73.8% stated that they combined job searching with part-time work.

The Education Spring Foundation pointed out, "These results show that the economic burden associated with preparing for employment is rising rapidly," adding, "Just as government agencies regularly survey private education expenses for elementary, middle, and high school students, it is urgent to conduct regular surveys and establish measures regarding private education expenses for employment as well."

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