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Korean Job Discussion Forums
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alongway
Joined: 02 Jan 2012
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 Posted: Wed Mar 06, 2013 9:20 pm Post subject: |
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| If he's concerned about a guy charging 15k an hour its more a reflection on the quality he teaches possibly. |
Or knowledge of how the markets react to such an offer.
In some markets, a consumer might investigate the quality of the product or service and make a choice, when it comes to English lessons, it seems many people go for the lowest price regardless of how the teacher is. |
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World Traveler
Joined: 29 May 2009
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| Posted: Wed Mar 06, 2013 9:29 pm Post subject: |
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| Weigookin74 wrote: |
| Seems if you throw the number of 40 to 50 an hour around people get shocked and never want services from what I hear. |
God, that sucks. That's what I've been hearing (and experiencing) too. I think it's pretty safe to say the going rate for everyone (especially males) is going down.
| Quote: |
Harvard graduate and university writing professor offering evening sessions for:
-finals week test prep
-writing and editing for final papers
-thesis advising
-presentation help
I am in the Sookmyung Women's University area and can meet in the neighborhood at any of the local cafes. I have worked for the Princeton Review, am a professional editor, and language professor, and am fluent in English and Korean.
I can look over and edit theses, final essays, or help you prepare a presentation in addition to helping you study for final exams.
35,000/ hour
Please contact me for more info. or to arrange a meeting time. |
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mayorgc
Joined: 19 Oct 2008
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| Posted: Wed Mar 06, 2013 9:40 pm Post subject: |
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Econ 101 does come into play here, but it's not really the laws of supply and demand that are relevant. The concept that's most relevant is marginal cost vs. marginal benefit. Basically, in the end, the invisible hand of the free market will sort itself out.
The guy charging $15 an hour will not drive down the entire industry to $15 an hour. Why? Because the cost of tutoring is greater than $15 (I'd like to assume so anyways). Travel, prep and risk getting caught all for $15? I sure as heck wouldn't do it. If it costs you $20 to bake a pie, are you gonna sell it for $15? Hell no. I'd rather watch tv or play videogames. Most E2s here, if faced with taking $15 or stop tutoring, they'll just stop tutoring.
The guy charging $15 will not be able to keep up with demand. He can advertise all he wants, but he only has so much time/energy in a day. He will eventually be "sold out of time" or "class full". When that happens, the ajumma who wants lessons will go to the next available tutor. The next available tutor already knows that the clown is at capacity. The ajumma has no option. Either pay the standard $50 rate, or get nothing. And we all know, most E2 tutors here charge $30 and up and easily get that.
The only way this clown pushes the industry down to $15 an hour is if the entire industry (tutors) collectively decide that prep/travel/risk is worth $15. I used to tutor when I was in Korea, but if it was for $15, I'd just stop (and i'm pretty sure 99% of E2s would as well). |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Wed Mar 06, 2013 10:37 pm Post subject: |
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| alongway wrote: |
| Quote: |
| What I find more interesting is how some seem to be concerned about this person offering a low hourly rate. |
Because it has an impact on other people's rates. |
It doesn't impact my rate.  |
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World Traveler
Joined: 29 May 2009
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| Posted: Wed Mar 06, 2013 11:26 pm Post subject: |
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| mayorgc wrote: |
| The ajumma has no option. Either pay the standard $50 rate, or get nothing. And we all know, most E2 tutors here charge $30 and up |
So the person does have options then. Pay $50 or pay $30.
And is $50 (55,000 won) even the standard rate anymore? I think not. Is sucks to struggle to get that much. The going rate has dropped far below that. There are boatloads of people teaching for way less than that.
A drop from 50,000 won an hour to 30,000 an hour is pretty significant. How much is the going rate now these days? I'd say it's less than 50,000 won per hour, but I don't know what it is. |
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mayorgc
Joined: 19 Oct 2008
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| Posted: Wed Mar 06, 2013 11:59 pm Post subject: |
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| World Traveler wrote: |
| mayorgc wrote: |
| The ajumma has no option. Either pay the standard $50 rate, or get nothing. And we all know, most E2 tutors here charge $30 and up |
So the person does have options then. Pay $50 or pay $30.
And is $50 (55,000 won) even the standard rate anymore? I think not. Is sucks to struggle to get that much. The going rate has dropped far below that. There are boatloads of people teaching for way less than that.
A drop from 50,000 won an hour to 30,000 an hour is pretty significant. How much is the going rate now these days? I'd say it's less than 50,000 won per hour, but I don't know what it is. |
I should have been more clear I guess. The $30 was my rate when I was in Korea. Keeping with consistency, I should have continued to use $50 in my example in stead of $30. So ignore my last sentence.
The ajumma either pays $50 or gets nothing.
My entire post isn't to say that wages/rates are not dropping. It was to point out that the clown charging $15 isn't the reason for the drop. The reason for the drop (if any) is increase supply of teachers.
The free market will expose all inefficiencies. If tutors can realistically exist and thrive at $15 an hour, then the previous $50 rate was grossly inflated and i guess whoever was able to get that in the past should consider themselves lucky they were able to get away with it for so long.
If on the other hand, $15 is not an efficient price, the market will naturally drive prices up and equilibrium will be reached, $30/$40/$50 whatever it may be. Maybe it's less than the previous prices charged, but it's more fair to the consumer |
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World Traveler
Joined: 29 May 2009
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| Posted: Thu Mar 07, 2013 12:27 am Post subject: |
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| mayorgc wrote: |
| The ajumma either pays $50 or gets nothing. |
Or she can hire the Harvard dude for $30 an hour. (>_<) |
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Dodge7
Joined: 21 Oct 2011
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| Posted: Thu Mar 07, 2013 1:19 am Post subject: |
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Even 30k is too low (this is for the people out there tutoring). Think about it:
IF you have to travel 20-30 minutes to get there, that's 20-30 minutes back (40min.-1 hour total), AND have to teach for an hour (most likely an hour and ten minutes) AND prep for a half hour, that is a grand total of 2 hours 30 min. Do you really think 2 1/2 hours of your time is worth less than 15k won an hour -- more like around 10 US dollars an hour?
Yes, 50k sounds like a lot to charge, but money is time, and you should know how to maximize it. |
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big_fella1
Joined: 08 Dec 2005
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| Posted: Thu Mar 07, 2013 3:45 am Post subject: |
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| World Traveler wrote: |
| mayorgc wrote: |
| The ajumma either pays $50 or gets nothing. |
Or she can hire the Harvard dude for $30 an hour. (>_<) |
Thanks for that, I've always loved a good laugh.
Harvard for $30 an hour, you must mean a graduate of Harvard childrens institute selling themselves short. |
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World Traveler
Joined: 29 May 2009
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| Posted: Thu Mar 07, 2013 3:56 am Post subject: |
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| Quote: |
Harvard graduate and university writing professor offering evening sessions for:
-finals week test prep
-writing and editing for final papers
-thesis advising
-presentation help
I am in the Sookmyung Women's University area and can meet in the neighborhood at any of the local cafes. I have worked for the Princeton Review, am a professional editor, and language professor, and am fluent in English and Korean.
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