Korean Job Discussion Forums

[oatmeal]

So right now I'm taking a year off from work (school).

I have started my own private tutoring gig, and I have accumulated
already 15 students/clients in the past month and a half or so.

I didn't need to advertise so this was even more surprising. I'm pretty
sure if I advertise in the papers, internet, or just post signs around,
I'll get way too many calls to handle. I have rented out a small room,
decorated it to my own liking and it basically feels like my own little
business and I'm self-employed (so that's a good feeling).

But I'm still wondering if I should re-apply for public school jobs? I have
about 4 offers to start next March and sign the 1 year contract, but I don't
know if I want to go back to school and teach or if I want to just continue
to grow my own little private tutoring gig.

Could you guys help me brainstorm? I just need some pros and cons of each. Obviously, I realize I can do BOTH ...work at the school and then do some extra private tutoring in the evenings/nights or weekends. The problem with that is I'd be working myself to death which I don't want, but making the extra money is a nice thing.

So here are some pros and cons I have thought out so far, please feel free to add more that I might have missed:

Work at Public School (Pros)
-guaranteed contract/salary, pension, severance benefits, stable working hours, housing allowance

Work at Public School (Cons)
-no flexibility, long hours (8 hours a day, M-F + summer and winter camps), many students (classroom management)

Work own Private Tutoring (Pros)
-flexibility, ease of working at home (rented a room next to my residence room), being self-employed, not having to answer to anyone/be your own boss, more one-on-one manageable teaching, hourly wage is good

Work own Private Tutoring (Cons)
-irregular hours, inconsistent clientele (some stay for short or long term, changes a lot), no severance, no pension, no benefits, no housing allowance


I really enjoy both. I have no problem doing either or. I'm just not sure which of two I should choose that's best for me, because I realize that while the public school job is a 1 year contract, stable hours, guaranteed salary with benefits, it is also very restrictive (meaning, I have to do what they tell me to do), and long hours (takes up most of the day and prevents me from spending more time pursuing other things I want in life).

The private route seems very intriguing to me. I can see the potential and possibilities to grow even a business, maybe my own school/academy, become an employer, rent out a larger space, and there's so much more room for flexibility, creativity, answering to no one, but it's difficult too because you have to do everything on your own.

[tophatcat]

Considering that you are doing things legally, do both if you can swing the schedule. If you can pull off 2 years at this pace and maintain 15 private students, you have what it takes to run a school. Running a school eventually has some grind to it.

[oatmeal]

Yes, I could try BOTH and really start making/saving a lot of money (4.5-5k per month, 60k per year), but as with most things in life, you have to sacrifice to get that. That would mean I'd have almost no time to do anything else I want with my life besides teach.

While, I do love to teach, I also love to have flexibility, freedom and creative control.

What I really need if I do BOTH is some kind of passion or hobby. I need something else to look forward to in my life besides just teaching 60 hours a week to make 60k per year. I'm finding that most of us require something else to do with your life besides work/teach, otherwise you'll burn out fast, get frustrated, stressed, and just lose all motivation and joy to teach.

This of course is only something I can answer for myself.

[tophatcat]

It's great that you have options.

How is the retirement plan coming along? Are you saving 10% of your net income? Are you debt free? I believe as long as you are covering the retirement plan most any choice is a good choice.

[PRagic]

Agreed. Keep your eye on the long game. How much can you save if you go the private route compared to what you'd save at a public school job? This means after you've paid rent, after you've paid taxes, after you've paid for your own insurance, etc.

What about doing the public school job and just maintaining a small stable of students on the side for privates? As you inclined, banking 60K a year is great, but not if you're so burned out you're hating life.

Keep in mind, too, that while you might have to do summer camps at the public school job, there is STILL some paid vacation, something you simply won't get if you teach privately.

Do you have your MA? One possible route is to try and get a university job. That would allow you a lot more free time and a lot more paid time over the breaks to teach privately. Maybe you could knock out an on-line MA (or on-site MA here in Korea) while you do a couple more years at a public school, then try to make that transition.

Always great to have options. Best of luck to you.

[schwa]

You do know the PS contract will have a clause forbidding sidework?

[tophatcat]

Pragic gave some great advice.

My opinion-
When you become really serious about running your own business and seeing it become a stable and successful business, you will need to put a lot of time into it for a couple of years.

There's often the notion that one will have more free time when one owns his own business. This isn't necessarily true. Most likely there will be a honeymoon stage in the beginning. Then, at some point, reality kicks in. There will be ups and downs. It will take about 2 years to establish consistency.

I would continue working at the public school until I had something on the side running smoothly for 2 years.

What I've mentioned is only my opinion. There are various routes to success and failure.

Good luck and success to you*

[tophatcat]

[oatmeal]

All excellent comments and posts, thank you!

Yes, I have already taught in PS for just under 6 years. I was able to save 70% of my income each year. You might guess as to how much I have saved up now in just those few years. I'm more of a saver than a big spender, but I do splurge at times to make myself feel happy.

There is truth that public schools can tell you not to work outside of the school job, but I believe that is mainly for E-2 visas (contract visas) since those visas are specifically only legal for you to work at your contract.

I fully agree with the comments about doing your own setup. Yes, I am fully aware of the honeymoon stage and it does take a lot more time than people usually think (you have to factor in traveling if I have to travel to the students/clients, as well as prep/materials time since I'd be doing my own stuff and not the curriculum which is provided by the school).

Yes, I also have an MA but not in English education. I've heard a lot about the University jobs and how great they are with paid vacation time and lots of extra time to do other things, but it's also extremely difficult to land one since competition is so fierce. I'm also not in a large city. I do think that being in a rural setting does have SOME advantages.

Thanks for helping me brainstorm! I guess there isn't much more I can say other than to just make a decision. I'm learning a lot right now doing the personal tutoring gig and it's giving me more ideas of what is possible down the road. I am leaning towards sticking with my own tutoring gig and expanding that. I've already done the public school for many years but I think I'm more attracted to the idea of seeing how far I can take this personal venture, but I also don't think I can overwork myself as it's quite easy to get burned out and really down about life here when you don't have much else to other than work.

[PRagic]

Seeing as the majority of Americans don't even have anywhere near enough saved for retirement, you're already ahead of the curve!

"When looking only at liquid assets that can be easily converted to an annualized income stream (and excluding home equity since it is unrealistic to expect homeowners to sell their homes upon retirement), 30% of U.S. households at or near retirement age have less than $10,000 in assets. Twenty-four percent have only between $10,000 and $99,999. That means 54% of American have too little saved to produce an income stream in retirement."
Source: http://www.forbes.com/sites/laurashin/2015/04/09/the-retirement-crisis-why-68-of-americans-arent-saving-in-an-employer-sponsored-plan/#68b545cf19d8

Scary stats.

[schwa]

[tophatcat]