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Yaya
Joined: 25 Feb 2003
Location: Seoul
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 Posted: Tue Jul 01, 2003 11:19 am Post subject: Where the real money is |
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It's ok if you make your 2.0 mln won with housing teaching kids or students. However, if you can teach TOEIC or TOEFL and can demonstrate that your students improve their scores, the pay range can jump to 5-30 million won a month.
The Korean teachers in test prep, of course, make the most since they can explain in Korean. I have a friend who opened his own service and expects to rake in around 10-15 mln won a month.
By the way, how does one learn how to teach test prep? |
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mokpochica
Joined: 21 Jan 2003
Location: Ann Arbor, MI
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| Posted: Tue Jul 01, 2003 3:54 pm Post subject: Re: Where the real money is |
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| Yaya wrote: |
| It's ok if you make your 2.0 mln won with housing teaching kids or students. |
Kids aren't students? 
| yaya wrote: |
| By the way, how does one learn how to teach test prep? |
I don't know about here, but at home some of the teachers are just former test takers who got good scores on the test themselves. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Jul 01, 2003 5:49 pm Post subject: Re: Where the real money is |
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| Yaya wrote: |
It's ok if you make your 2.0 mln won with housing teaching kids or students. However, if you can teach TOEIC or TOEFL and can demonstrate that your students improve their scores, the pay range can jump to 5-30 million won a month.
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30 million a month? Me thinkest not. That's what a hakwon director can expect to make. Any teacher making that money could retire in less than ten years. I've only heard of two teachers teaching those subjects who made over 4 million. One made 4.8 and the other 5. |
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Gord
Joined: 25 Feb 2003
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| Posted: Tue Jul 01, 2003 5:58 pm Post subject: Re: Where the real money is |
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| TheUrbanMyth wrote: |
| 30 million a month? Me thinkest not. That's what a hakwon director can expect to make. Any teacher making that money could retire in less than ten years. I've only heard of two teachers teaching those subjects who made over 4 million. One made 4.8 and the other 5. |
It's the real deal. Though the "30 million!" is quite extreme and possibly in the realm of fiction, but TOEIC/TOEFL experienced and proven teachers at a well known school can make serious cash. The girl I'm dating teaches TOEIC/TOEFL and this month will pull in far more than 10M.
But to get to this level, she had to write four books to use in her class and do a fair bit of prep work on top of that and do things like take a TOEIC test once a month to prove she is an English master (kiss a Saturday morning goodbye once a month, and 150,000 Won). Plus the spikes like this month are because it's the summer break. It falls considerably during months when university is in. |
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Yaya
Joined: 25 Feb 2003
Location: Seoul
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| Posted: Tue Jul 01, 2003 7:53 pm Post subject: Re: Where the real money is |
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| TheUrbanMyth wrote: |
| Yaya wrote: |
It's ok if you make your 2.0 mln won with housing teaching kids or students. However, if you can teach TOEIC or TOEFL and can demonstrate that your students improve their scores, the pay range can jump to 5-30 million won a month.
? |
30 million a month? Me thinkest not. That's what a hakwon director can expect to make. Any teacher making that money could retire in less than ten years. I've only heard of two teachers teaching those subjects who made over 4 million. One made 4.8 and the other 5. |
And just how much do you know about the TOEIC/TOEFL industry? Judging by what you wrote, probably nothing. The teachers who make the big bucks charge a lot and STILL have a waiting list a mile long. |
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Marathe
Joined: 07 Feb 2003
Location: Spider Hole
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| Posted: Tue Jul 01, 2003 7:55 pm Post subject: |
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30 million a month?
my moms don't make that much and she's a financial analyst at esso.
thats like 400,000 a year cdn.
right. |
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Cthulhu
Joined: 02 Feb 2003
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| Posted: Tue Jul 01, 2003 9:31 pm Post subject: |
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Gord is right--it is possible for very experienced Korean TOEIC teachers (TOEFL rarely brings in enough students) to make 10 million a month, though the vast majority fall well short of that mark. But the chances of foreigners doing it are between slim and none, because you have to not only speak Korean fluently (the entire class is about explaining answers and how to do the questions) but you have to know a lot about TOEIC itself.
The teachers who teach it have to work very hard but the payoff is great if (a big if) they can make a name for themselves. Most just get +- 3 million but they can (not necessarily do--depends on the economy and student enrollment) get much more during vacation. The downside of getting paid by the student is taking a loss (i.e., making less than a converation teacher) during poor enrollment periods, which some do. |
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weatherman
Joined: 14 Jan 2003
Location: Korea
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| Posted: Tue Jul 01, 2003 9:33 pm Post subject: |
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| I believe it, but 30 million is out there. My ex makes 3.5 million a month teaching TOEIC and TOEFL plus she doesn't work a whole bunch of hours every day. The down side, is she gets about 2 days off the whole month. She makes that much because she gets a cut out of every student that signs up for the class. |
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whiskey jack
Joined: 30 Jan 2003
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| Posted: Wed Jul 02, 2003 4:44 am Post subject: why not find something other than teaching. |
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I read a lot about "potential"income. I see know real fact for it. i have been here 5 years and don't believe any wonjon could make that kind of do per month. Too much overhead.
However, if anyone is interested in making extra income that could expand into a bright future just email me.
[email protected] |
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Yaya
Joined: 25 Feb 2003
Location: Seoul
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| Posted: Wed Jul 02, 2003 10:37 am Post subject: |
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| Marathe wrote: |
30 million a month?
my moms don't make that much and she's a financial analyst at esso.
thats like 400,000 a year cdn.
right. |
Well, if you don't believe, that's YOUR problem. The 30 mln I was referring to is at the top of the scale, but many seem to underestimate how high the demand for TOEIC has gotten in Korea. Higher scores are now the requirement to get a good job.
And as I said, the top teachers can charge as much as they want, and STILL have a waiting list a mile long.
This is yet another case of "I don't know anyone making that much, so no one can make that." But oh well, I guess some are content with just what they know. |
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itaewonguy
Joined: 25 Mar 2003
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| Posted: Wed Jul 02, 2003 3:37 pm Post subject: |
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well if a korean is making that much then a foreigner should be making more! not just any foreigner of course.. but a university English major (ENGLISH MASTER) I mean you wouldnt need a korean at that level because the students would already understand full English!!
and if they didnt understand one word SIMPLE! look it up!! take 1 minute!
the English professors at Seoul DAE probably dont even make 10 mill
I doubt that MAKE 30!!!!
now I am not saying it's not possible to make 10 million a month!
sure it is.. their has to be some out their who are getting paid sweet!!
what I am saying is.. if a korean is making it! then a foreigner can EASILY be making it too!!!
we are talking about our language here!!
so logically one of us comes first at high level advanced English classes!
and that guy is not me!!!! HELL NO!! my grammar sucks!!
owning a school you can make 10-20-30 million a month sure. if your school is well run you are getting a lot of business and a good reputation why not!! always room for success in this over saturated market!! |
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whatthefunk
Joined: 21 Apr 2003
Location: Dont have a clue
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| Posted: Wed Jul 02, 2003 7:33 pm Post subject: |
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| Id like to see some proof for this 30 million talk. |
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Cthulhu
Joined: 02 Feb 2003
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| Posted: Wed Jul 02, 2003 7:46 pm Post subject: |
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| Quote: |
| Well, if you don't believe, that's YOUR problem. The 30 mln I was referring to is at the top of the scale, but many seem to underestimate how high the demand for TOEIC has gotten in Korea. Higher scores are now the requirement to get a good job. |
I think it is theoretically possible but not likely for a simple reason: economics. One must consider the numbers that are required to make that kind of money. This isn't private teaching, and the majority of the students are university age (read: cheap) so you have to be teaching astronomical numbers of them to get 30 million a month. The average student pays around 100,000 for a month of lessons, give or take a bit. So, you need at least 275-300 students at 100,000 a month to make 30 million. Possible? Sure. Not easy given the classroom sizes at hagwans, but quite possible. But remember that the owner should be getting a cut that's even larger than the teacher unless the teacher owns the hagwan as well. So the teacher needs to teach close to 600 for a 50/50 split, which is the best deal I think they are going to get. That's 10 classes a day of 60 students, which seems highly unlikely and bound to wear them out after a few months.
Now there are universities doing TOEIC seminars in huge classrooms that can hold up to 200 people but I work with someone who does it and I know she isn't getting anything close to 30 million (and isn't filling up the classroom either) and on top of that universities are going to be far less generous than a greedy hagwan boss might be. So while I suppose it might be theoretically possible to make that kind of money at a university campus, in a hagwan it seems pretty much out of the question. |
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Butterfly
Joined: 02 Mar 2003
Location: Kuwait
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| Posted: Thu Jul 03, 2003 12:20 am Post subject: Re: Where the real money is |
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Sure some of these guys make some serious money ~ 30 mil is exaggerated but I've heard of guys making 15. But, this isn't for us, they teach specific 'exam skills' which isn't particularly related to English language strangely enough. They try to get inside the mind of the examiner, and the psychology of the questions. In essence they show students how to get around the exams without having to actually learn English. I have heard that preferred teachers are those who have gotten TOEIC scores of over 900 however have not studied abroad and are not Korean American. Shows the students that they can do it too.
A way to make that kind of money here is to come up with some new style of teaching or gimmick that is popular because it works. Also, pain, is most of us are tied to our hakwons by our visas. As much as I've negotiated things with my boss and get more than the average teacher in Korea, I know he make a disproportionate amount of money from me directly, because he knows I'm tied to him. Make me want to get married to a Korean, because on the 'F' visas, you aren't really tied to anyone are you? What are you married guys doing???? You could be making so much money ~ not tied to anyone, editing, working out commission based deals better than mine with hakwon owners ~ good teachers are thin on the round in Korea. If you are a hot teacher (and lts face it, its not brain surgery) this place is a GOLDMINE! |
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mack the knife
Joined: 16 Jan 2003
Location: standing right behind you...
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| Posted: Fri Jul 04, 2003 10:58 am Post subject: |
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| them teachas got MAAAAAAAADDDDDDDD SKKKKKKKIIILLLLLLLLZZZZZZZZ, BOOOOOOOOYYYYYYY!!!!!!!!!!!!!!!!!!!!!!!!!! |
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