How Much Can You Earn When You Work in Japan? Calculating Minimum Wages For OFWs (Daily System)
0:00-0:42: Intro
0:42-2:20: Take Note
2:20 -4:12: Calculating Minimum Wages in Japan
4:12-5:27: Minimum Wage Range in Japan
5:27-7:13: Calculating NET Income in Japan
7:13-7:44: Cost of Living in Japan
7:44-8:15: Outro
Welcome to our WISI channel! In this video, we discuss how much you can earn when you work in Japan and provide a step-by-step guide to calculating minimum wages in different prefectures. We also convert the wages to Philippine Peso for our Filipino viewers.
Before we begin, it's important to note a few things. First, the calculations we present here are rough estimates and do not include overtime pay. The actual income you can earn depends on the company you work for and the prefecture in Japan. Second, Japan's minimum wage is adjusted annually in October to account for inflation and interest rates. Lastly, we explain the difference between gross income (before deductions) and net income (after deductions).
Using the daily paid system, we demonstrate how to calculate wages based on the prefectural minimum wage. We provide examples for three different prefectures: Tokyo, Ibaraki, and Kochi. Tokyo has the highest minimum wage per hour, while other prefectures offer slightly lower wages.
To convert the wages to Philippine Peso, we use the current exchange rate of 0.4 pesos to 1 yen. For example, a monthly wage of 143,304 yen would be approximately 57,322 pesos. Keep in mind that these are gross income figures before taxes and deductions.
We also discuss deductions such as rent, utilities, taxes, and insurances, which vary depending on the prefecture. We provide estimated values for higher, medium, and lower minimum wage prefectures, showing both the gross and net income per month.
It's essential to consider the cost of living in each prefecture. While wages may be higher in major cities like Tokyo, the cost of goods and services tends to be higher as well. In the end, the net income may be similar regardless of the prefecture.
We hope this video helps you understand how much you can earn when working in Japan. Don't forget to like and subscribe to our channel, and share this valuable information with your friends and family. Thanks for watching, and see you next time on WISI!