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SnoopBot
Joined: 21 Jun 2007
Posts: 740
Location: USA
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 Posted: Tue Oct 02, 2007 1:37 am Post subject: Re: Thanks for the positive feedback.... |
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double-post delete
Last edited by SnoopBot on Tue Oct 02, 2007 2:00 am; edited 1 time in total |
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SnoopBot
Joined: 21 Jun 2007
Posts: 740
Location: USA
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| Posted: Tue Oct 02, 2007 1:40 am Post subject: Re: Thanks for the positive feedback.... |
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| haoleboy wrote: |
I posted in three different countries because I don't want to put all my eggs into one basket.
Yes, finding a job in the U.S. and then getting transfered over is a sure way to go, but it usually takes a year or two of training. Maybe I am little impatient but I would like to go sooner than that.
I was a TEFL teacher in Japan for 2.5 years and I had no problem advising people on this site, so they could avoid problems that I encountered. (Nova!!!)
Having an MBA with work experience should make a huge difference compared to someone teaching business English that doesn't know the difference between an option, derivative, etc. Of course, teaching experience is essential to being a good instructor. That is very helpful information that Wall Street doesn't pay an MBA any differently, I didn't know that. Thank you.
I do appreciate some of the positive remarks and advice. Thank you. |
In the olden days Wall Street was a top payer their fee's are high so they could afford to spread their wealth around. They could pay a higher salary to those that had a MBA and a good knowledge of Business Technical Registry.
Later their wages started to fall and even though higher than many other places, they did not offer accomodations. With the steady climb of rental housing costs, those salaries started to become equal with other schools that offered free housing.
Wall street hours became longer, often sitting in an office 40 hours a week but only teaching a portion of this. It was a better idea to teach at a lower paying position for the free housing and with the extra time (lower hours) to find private jobs.
Recently, within the last year, Wall Street was having financial problems and a decreased student enrollment. This last year all the teachers in the Beijing area were told to accept a higher hour for a lower salary contract. Many quit on the spot and looked elsewhere.
Now they are at the same level of recruiting like EF and the other McMills that do not offer a competitive salary or decent working hours. I know their website states a higher level of qualifications, but last year they were taking anyone with a pulse they could find after many of their teachers took a walk.
If you wanted to use "Business English" as a bullet on a resume and do not care about long hours and reduced pay Wall Street is still attractive.
However, if you want a higher quality of life with more free-time and the ability to earn money from privates, Wall Street (Beijing) is not a good place to go. (I cannot speak for ALL of the Wall Street's just that one)
Another thing I would like to mention is the depth that you will be teaching any MBA type of course. You will not be teaching Second Derivative equations or real coursework. Often you will be doing language-based business studies which is tailored around using English in a business environment, Public Speaking, Team Work, pronunciation, business language ethics etc
The real business teaching for Western Style MBA students is done by Joint Western Programs (Smith MBA) and these courses use Western PhD professors that they rotate into China hired directly from the western university. These places will not hire locally and require a PhD. Only a few of these programs exist so they are very selective and can fill the professor spots very easily.
Having a MBA from the top 20 can impress potential students and employers to pay a higher class fee. However, this fee doesn't always get passed down to the teacher (99% of the time) Another thing, many have figured out they can charge a higher wage having a "Harvard MBA." and I've met some that have promoted themselves from having a 3rd tier BA to a Harvard MBA. Imagine a backpacker (no-degree) that claims they have a Harvard MBA. Chinese institutions do not check and fake degree's are easy to make. (These people have ruined the chances of getting the high wages, based solely on name of the institution.)
Therefore, the luster of getting a higher private wage based on a Top MBA is gone. You must be top in your teaching method and work, often this will take a few years to build up a good reputation.
Once the word gets out you're instruction level is very good the wages can go up.
Unfortunately, no easy shortcuts these days for earning top wages. |
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beautification
Joined: 09 Jan 2007
Posts: 111
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| Posted: Tue Oct 02, 2007 5:47 am Post subject: |
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Is Wall Street English even a good place to work? I walked by one in Beijing and they had two guys talking about their tattoos. Doesn't really seem like a place the OP would want to teach
EDIT
--- don't mind me, I'm having trouble reading today. Looks like Snoopbot already pointed out that Wall Street is now on the same level of EF --- |
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SnoopBot
Joined: 21 Jun 2007
Posts: 740
Location: USA
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| Posted: Tue Oct 02, 2007 3:56 pm Post subject: |
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| beautification wrote: |
Is Wall Street English even a good place to work? I walked by one in Beijing and they had two guys talking about their tattoos. Doesn't really seem like a place the OP would want to teach
EDIT
--- don't mind me, I'm having trouble reading today. Looks like Snoopbot already pointed out that Wall Street is now on the same level of EF --- |
Complaints started in the 2005-2006 period. Not just from the FT's that worked there during the better years, but also Chinese students that paid rates up to 70,000 RMB.
The courses were designed to be completed during the free-time that the student had. Most of it was module software assisted type of instruction.
The students study a module then at the end of the module are tested by a FT, the student is graded and is sent on to the next module.
Students wanted more interaction with FT's in communication practice (not software driven) To get Face-to-Face instruction the students had to pay additional fee's and membership costs.
FT's were instructed to "stick around" for office hours and assist as needed. These become non-paid hours. The pay rates were recalculated in the new contracts , so a teacher had the potential of sitting in an office for +40 hours to be paid for a 10 hour week.
Students complaint rose as the costs rose.
So here you have it:
1. Massive FT complaints
2. Massive student Complaints.
3. Higher tuition cost with lower teacher pay.
4. Financial difficulties at the headquarters of the chain.
It was rumored the embezzlement and fraud at the headquarters level put additional pressure on all the chains.
This was the situation in late 2006, I'm not sure how they are doing now, but rumors of the main headquarters declaring bankruptcy still exist.
I have a friend that worked there and said it was unbearable and he left when they started cutting the wages and increasing hours. He was not getting paid on-time too during this late 2006 period.
Records of their financial problems can still be found online. This is enough for me to stay away. |
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haoleboy
Joined: 24 Sep 2007
Posts: 6
Location: U.S. Mid West
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| Posted: Tue Oct 02, 2007 5:53 pm Post subject: Great Information |
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I should have figured that students weren't going to learn finance, accounting, etc terms besides the basics.
Wall Street sounds like a no go. Good to know.
I've had friends work as corporate English trainers in Japan for Hitachi, Siemens, etc. Maybe in China I have to get my butt over there and look for these jobs at large corporations.
Ranking of MBA probably doesn't make a huge difference anyway. I shouldn't have even mentioned it. Most programs follow the same Harvard case studies anyway...
Thanks for the help! |
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