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Uni. vs. full-time: Best way to earn and save
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Voyeur



Joined: 03 Jul 2012
Posts: 431

PostPosted: Tue May 14, 2013 8:01 am    Post subject: Uni. vs. full-time: Best way to earn and save Reply with quote

Previous searches have revealed that many China vets suggest that working ~16 hours at a Uni. for ~5,000 - 6,000 RMB + apartment combined with private lessons can earn you more than taking one of the more full-time jobs that usually require ~ 40 hours a week on-site.

I'd like to invite comments as to whether people still feel this is the case. I have 10 years ESL experience, including management, but lack a masters degree.

To add to the equation, I have $20/hour online lessons that I could teach to supplement my income. I believe I could fit 10 of these lessons a week into a uni schedule, but not into a full-time schedule.

Also, how much does location factor into the earn/save equation? I've heard that in the big cities you earn more, but the cost of living is higher and that overall, most save less--but that exceptions abound, and the highest net earners also tend to work in the big cities.
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roadwalker



Joined: 24 Aug 2005
Posts: 1750
Location: Ch

PostPosted: Tue May 14, 2013 8:29 am    Post subject: Reply with quote

I have only worked for unis in China, and probably won't change that as long as I'm here. I usually avoid side work, but it is offered fairly regularly until I'm a known side job avoider. In most areas you could pick up side work easily. Big cities will have more professional opportunities (adult business students) but everywhere will have school children who want a leg up. Big cities do have higher costs but mainly they have higher temptation rates. More opportunities to spend money and get distracted with nightlife, groceries, books, entertainment and whatnot.

One thing to check, if you want to keep your online students, is whether a good Internet connection is available. Some out of the way unis have low bandwidth only and maybe spotty service. Things seem to be improving though, but it is still worth checking. I'm outside a small city in Guangdong and paid extra for 2m/sec dsl which got bumped to 4 last year. I thought I had trouble using skype, but it turned out to be something with my computer and I can use skype no problem. I rarely use video on it though. I use a veepn and don't usually have problems with streaming video but your mileage may vary.
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Voyeur



Joined: 03 Jul 2012
Posts: 431

PostPosted: Tue May 14, 2013 8:40 am    Post subject: Reply with quote

Good tips--in some locations, then, quality internet is simply not available--even if you pay more?

I see your point about cost of living. Would you say the big difference between say Beijing/Shanghai and smaller cities has to do with the rent (which may not matter if your apt. is provided)? Though I guess there is no free lunch, and if a Uni has to provide an apt. where rents are high your place might be shared or just generally suck in a million different ways.
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xiguagua



Joined: 09 Oct 2011
Posts: 768

PostPosted: Tue May 14, 2013 3:10 pm    Post subject: Reply with quote

I'm also a an avid lazy side job avoider guy, and I also avoid the big cities. But there are opportunities anywhere. Even in small cities there are plenty of people shelling out big bucks on their kids failing English. I think the best scenario would be to find a uni gig that gives you an apartment and the freedom of working outside. At my place I have 12 classes a week, and they are ONLY morning classes. 2 days a week I have class until 12pm.......the other 3 days of the working week i'm done at 10am. PLENTY of time for other jobs and racking up the big bucks. And since I spend maybe about 500-700rmb a month on food/snacks and stuff, it's all going into the bank. If I cared more about making a ton of money, it'd be easy.

Internet now is available anywhere. Audio doesn't require a lot of bandwidth and video isn't that intensive either. I think any city you live in can easily get you internet that is sufficient.

There's probably gonna be problems anywhere you go. I've only had to share an apartment once in my time here and it wasn't THAT bad. My apartments now are big enough that if there was another person, I wouldn't really notice. I can't comment on that officially though......but i'm sure most FT's in Beijing and Shanghai are not sharing apartments.
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kungfuman



Joined: 31 May 2012
Posts: 1749
Location: In My Own Private Idaho

PostPosted: Tue May 14, 2013 3:11 pm    Post subject: Reply with quote

Voyeur wrote:
Good tips--in some locations, then, quality internet is simply not available--even if you pay more?



The internet in China is like the water - it is everywhere but slow moving and you can't drink it.

Example: Was downloading some new music for my Ipod Touch using Baidu (it's free). The INTERNAL China speeds are amazing (today - not everyday). I downloaded some Hot Tuna, Black Sabbath, ZZ Top, Yes, The Who - lots of songs - some where 8-10mb. They downloaded in seconds.

When I access sites outside of China speeds are dismal at times. Often using a v p n to watch or download videos from U Tube it just doesn't work - or stops halfway through.

Same issues with torrents. When shows are new - on Monday before noon when all the Fox shows air on Sunday in the West - the torrent downloads them in 1/2 hour often. Other times it can take a day or two for some things.

Of course, depending where you live in China and what sites you visit matter much.
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Non Sequitur



Joined: 23 May 2010
Posts: 4724
Location: China

PostPosted: Tue May 14, 2013 8:35 pm    Post subject: Reply with quote

Two random points from my exp as a uni/vocational teacher doing less than 18 hours.
1. Beware side jobs, where there is a significant commute.
2. Lesson planning is probably more intense than for your day job.
3. All your money is being earned in RMB which is artificially depressed in value.
If you tally all the income and set it against the time commitment, you may decide that a fulltime job is best.
All on the one site. One commute loop per day.
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johntpartee



Joined: 02 Mar 2010
Posts: 3258

PostPosted: Tue May 14, 2013 10:31 pm    Post subject: Reply with quote

Quote:
All your money is being earned in RMB which is artificially depressed in value.


Elaborate, please. Maybe a new topic about this.
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Non Sequitur



Joined: 23 May 2010
Posts: 4724
Location: China

PostPosted: Wed May 15, 2013 2:37 am    Post subject: Reply with quote

Don't think it is any secret that the Chinese hold down the value of the RMB to encourage exports.
You shouldn't need 7 or so RMB to buy US$1.00.
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choudoufu



Joined: 25 May 2010
Posts: 3325
Location: Mao-berry, PRC

PostPosted: Wed May 15, 2013 2:43 am    Post subject: Reply with quote

Non Sequitur wrote:
Don't think it is any secret that the Chinese hold down the value of the RMB to encourage exports.
You shouldn't need 7 or so RMB to buy US$1.00.


you don't.........you only need 6.14738

even if artificially depressed, how does that affect his salary? unless
he's going to eventually convert to dollars or euros.......in which case
he'll be making more as the rmb continues to slowly rise.
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Non Sequitur



Joined: 23 May 2010
Posts: 4724
Location: China

PostPosted: Wed May 15, 2013 4:16 am    Post subject: Reply with quote

The thread topic is 'earning and saving'.
The outcome in OP's home currency, is a big factor in deciding whether to put in the hours to earn more RMB.
I did private work and summer school in my first year, but decided it wasn't worth the hassle in terms of the home currency result.
I didn't do it in subsequent years.
Mr Geithner on 2 occasions threatened to name China as a 'currency manipulator'.
I think he eased up on the rhetoric when China gave some assurances, but indicative that the RMB has been undervalued.
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choudoufu



Joined: 25 May 2010
Posts: 3325
Location: Mao-berry, PRC

PostPosted: Wed May 15, 2013 4:40 am    Post subject: Reply with quote

Non Sequitur wrote:
The thread topic is 'earning and saving'.
The outcome in OP's home currency, is a big factor in deciding whether to put in the hours to earn more RMB.


i'm not understanding this. OP lives in china, works in china, gets his
salary and part-time fees in china money. what the heck does it really
matter what the exchange rate is? he needs to base his calculations
on the cost of living of where he lives around.

either it's worth his time to charge 125 rmb/hour or it's not. if not, what will
he do with his time? he can't exactly commute to london for part-time
work teaching english.

why 125? that's equal to $20 today. you say the rmb exchange rate
is held artificially low? i'd argue that as the yuan moves towards full
convertibility, it will rise in value compared to western reserve currencies.
that $20/hour will be worth $20.27 in six months, maybe $20.43 in a year
(not accounting for interest earned).

if he can't justify his part-time work, then he surely won't be able to justify
working for rmpeanuts in a full-time job.
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Denim-Maniac



Joined: 31 Jan 2012
Posts: 1238

PostPosted: Wed May 15, 2013 4:57 am    Post subject: Reply with quote

xiguagua wrote:
I've only had to share an apartment once in my time here and it wasn't THAT bad. My apartments now are big enough that if there was another person, I wouldn't really notice. I can't comment on that officially though......but i'm sure most FT's in Beijing and Shanghai are not sharing apartments.


Ill just comment on this. Ive ALWAYS shared, and its been an arrangement that suited me perfectly. Ive never had a real issue and I would actually PREFER to share. Shared housing is the deal with my employer, and although they do pay a stipend if I wish to rent somewhere else, I do prefer the shared housing. We had individual, lockable rooms with private shower and WC, with a shared kitchen and communal area. Three rooms per floor.

Its my preference because working in China (or anywhere abroad) can be quite lonely for some people. Most of us dont tend to work many hours, and while Im not someone who ever feels really lonely, it is easy to spend a lot of time alone and thats something I dont always want to do. Ive liked some room-mates more than others of course ... but I have always found it quite nice to sit together in the communal area and have the occasional chat about classes, girls, going out etc etc.
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Non Sequitur



Joined: 23 May 2010
Posts: 4724
Location: China

PostPosted: Wed May 15, 2013 5:26 am    Post subject: Reply with quote

choudoufu wrote:
Non Sequitur wrote:
The thread topic is 'earning and saving'.
The outcome in OP's home currency, is a big factor in deciding whether to put in the hours to earn more RMB.


i'm not understanding this. OP lives in china, works in china, gets his
salary and part-time fees in china money. what the heck does it really
matter what the exchange rate is? he needs to base his calculations
on the cost of living of where he lives around.

either it's worth his time to charge 125 rmb/hour or it's not. if not, what will
he do with his time? he can't exactly commute to london for part-time
work teaching english.

why 125? that's equal to $20 today. you say the rmb exchange rate
is held artificially low? i'd argue that as the yuan moves towards full
convertibility, it will rise in value compared to western reserve currencies.
that $20/hour will be worth $20.27 in six months, maybe $20.43 in a year
(not accounting for interest earned).

if he can't justify his part-time work, then he surely won't be able to justify
working for rmpeanuts in a full-time job.


I repeat the OP is concerned about saving money and that means in a non-RMB currency.
The exchange rate is a vital component of any savings strategy and it makes sense to remit home on a regular basis (6m). Don't accumulate a substantial amount in your BOC account and then walk out with it stuffed in your waistband when you decide to get out.
Sure the exchange rate will improve over time, but regular remittances are still the best plan IMHO.
My experience of China is to work within the 'knowns'.
What exchange controls may emerge in future are guesswork.
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choudoufu



Joined: 25 May 2010
Posts: 3325
Location: Mao-berry, PRC

PostPosted: Wed May 15, 2013 10:04 am    Post subject: Reply with quote

Non Sequitur wrote:
....OP is concerned about saving money and that means in a non-RMB currency..


oops. i must have missed that. never mind.
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Non Sequitur



Joined: 23 May 2010
Posts: 4724
Location: China

PostPosted: Wed May 15, 2013 8:17 pm    Post subject: Reply with quote

Smile
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