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flakfizer
Joined: 12 Nov 2004
Location: scaling the Cliffs of Insanity with a frayed rope.
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Emeliu
Joined: 31 Mar 2009
Location: Korea, i'm OMW
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 Posted: Wed Jul 15, 2009 3:28 pm Post subject: |
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| 4 million usd a year? -.- |
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Yesterday
Joined: 15 Aug 2003
Location: Land of the Morning DongChim (Kancho)
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| Posted: Wed Jul 15, 2009 3:35 pm Post subject: |
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Not everyone can be a celebrity-online "super teacher"...
Those couple of foreigners who had their own TV shows teaching (haven't seen them around for a while) - were definately not making 4 million US dollars a year... |
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Jane
Joined: 01 Feb 2003
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| Posted: Wed Jul 15, 2009 6:07 pm Post subject: |
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4 million US? Hmm..maybe..but..
As for any commodity or service, once competition is introduced, the price gets lower until a medium is achieved, although there are a few exceptions. In other words, if everyone made 4 million $ who taught in Korea, everyone in the English-speaking world who has a degree would come here to make their 4 million and go home.
It's like drug dealers. Only the ones at the very very top can make top dollar because they have people working for them (in this case, they have the company who is recording and publishing online is lectures), etc. They also have a certain talent or reputation that is unreplicable, but these individuals are very few and far between. |
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red_devil
Joined: 30 Jun 2008
Location: Korea
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| Posted: Wed Jul 15, 2009 6:18 pm Post subject: |
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| 4M USD? What kind of joke is that? Must have been a copy/paste from The Onion...or some sponsored posting by the Korean board of Education? |
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Goku
Joined: 10 Dec 2008
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| Posted: Wed Jul 15, 2009 6:24 pm Post subject: |
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The 4 million probably comes from his online business.
Hmm, anyone getting any ideas?
lol.
*buys clown suit*
Wo- hahaha HEY kids! It's me ENGLISEE the clown!! |
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Chambertin
Joined: 07 Jun 2009
Location: Gunsan
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| Posted: Wed Jul 15, 2009 6:27 pm Post subject: |
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So Billy Gram is going to S. Korea to combine ESL and Christianity?
4 million is possible if you get enough people to sign up for franchise locations etc.
Sure as hell not what the real teachers are making.
Marketing + Stupid * Pyramid business model = Millions |
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Smee
Joined: 24 Dec 2004
Location: Jeollanam-do
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| Posted: Thu Jul 16, 2009 3:19 am Post subject: |
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My fuller thoughts on this are here, but basically I don't think it's that inconceivable, though these superstar teachers are rare. A person with a few thousand online subscribers each paying as little as a few man won a month could still earn pretty good money, even after paying the cameraman and the website people. Plus, these teachers aren't working at Mom n' Pop English, they're working at large hagwon who will pay a good rate to retain these celebrity teachers.
But, yeah, this isn't for us. Korea is all about teaching toward tests, and the English monkey routine we do isn't in demand, when you get down to it. Besides, even if this weren't illegal for E-2s, I doubt your employer would let you film your classes and broadcast them for a fee. |
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itaewonguy
Joined: 25 Mar 2003
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| Posted: Thu Jul 16, 2009 3:21 am Post subject: |
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mega study!
they have been around for about 10 years now..
and many companies like it..
online education is where its at.. but 4 million dollars a year for the teacher seems high.. I remember the mega study owner saying he makes 1 million dollars year with classroom and online content..
but 4 million for the teachers.. damn well if he charges like 10.000won a lesson and has 50.000 members all paying him about 40.000-80.000 a month then yes.. Millions is possible...
but I am sure he is super smart..
anyone seen that bald korean guy doing the math on TV? he is famous
you know he is making serious bank!!
Last edited by itaewonguy on Thu Jul 16, 2009 3:39 am; edited 1 time in total |
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fermentation
Joined: 22 Jun 2009
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| Posted: Thu Jul 16, 2009 3:39 am Post subject: |
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| It only confirms my hate for "education" in this country. The guy wouldn't be making as much money if he were actually teaching these kids something instead of raising test scores. regardless, kudos to him for banking 4 mil a year. |
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kentucker4
Joined: 03 Sep 2007
Location: Georgia
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| Posted: Thu Jul 16, 2009 4:49 am Post subject: |
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This I why I plan to try out for acting in Seoul. I want my own TV show. The English actors there are terrible. I actually have talent.  |
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GwangjuParents
Joined: 31 Oct 2008
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| Posted: Thu Jul 16, 2009 5:18 am Post subject: |
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I showed Brian Deutchs' article to my K-wife.
She laughed and called total BS on the thing.
She wondered if it was a scam... you know the ones: "Joe Blow made 10,000 million in one year.. send us $50 and we'll show you how to too can become an millionaire from your own home only working 2 hours a day..." |
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madoka
Joined: 27 Mar 2008
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| Posted: Thu Jul 16, 2009 11:40 pm Post subject: |
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| Jane wrote: |
As for any commodity or service, once competition is introduced, the price gets lower until a medium is achieved, although there are a few exceptions.
They also have a certain talent or reputation that is unreplicable, but these individuals are very few and far between. |
But that's the crux of the issue. It's only the superstar teachers that have this unique talent that will make this money AND the price will NOT get lower for them because what they do is unique. There can be very little competition for them because they have skills that others cannot easily replicate. |
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redaxe
Joined: 01 Dec 2008
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| Posted: Fri Jul 17, 2009 12:13 am Post subject: |
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| Jane wrote: |
4 million US? Hmm..maybe..but..
As for any commodity or service, once competition is introduced, the price gets lower until a medium is achieved, although there are a few exceptions. In other words, if everyone made 4 million $ who taught in Korea, everyone in the English-speaking world who has a degree would come here to make their 4 million and go home.
It's like drug dealers. Only the ones at the very very top can make top dollar because they have people working for them (in this case, they have the company who is recording and publishing online is lectures), etc. They also have a certain talent or reputation that is unreplicable, but these individuals are very few and far between. |
Or it could be like doctors and lawyers. To keep a profession high-paying, you have to raise the barriers for entry making it very difficult to become one. The Korean government and private hagwons will do this as more and more Westerners flow into the country, by gradually raising the education requirement and being more selective about who they hire, because they will get the benefit of having more qualified teachers.
Of course, the superstar standouts at anything will make lots of money. But if you're completely average at something, the only way to make a higher-than-average wage is to limit the number of other people who are doing the same thing. |
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