Editor’s Note: This is a guest post by Jason McCarthy, founder at DigiNo.
As you may have heard by now, online teaching is one of the fastest growing marketplaces in the world today; and there are some clear and obvious reasons as to why being an online teacher is a great opportunity for freelancers.
It can be a little uncertain for freelancers out there, trying to make some earnings as and when they can. However, online teaching provides you with a stable and reliable source of income in an ever-expanding marketplace rife with opportunity.
The rise in popularity comes down to a very simple detail…teacher referrals. Most online teaching companies offer their current teachers a bonus to recommend new teachers to the job.
This has led to online teaching being advertised far and wide across the internet via video, social media posts and blog articles. In addition, this led to more and more people discovering the job…and word of mouth also quickly spread about how much some teachers earn from sitting in front of their laptop at home.
Yes, the earning potential is also a huge factor in the popularity surge of online teaching.
With a lot of companies advertising upwards of $25 per hour and the potential to work as many hours as you can, there is no wonder than online teachers average around double of what regular freelancers make.
During their first year, 30% of freelance writers earn under $10 per hour. Whilst another 31% of freelance writers earn $11-$25 per hour. An average starting hourly rate of an online teacher in their first year is around $15-$18 per hour. This can also rise with bonuses up to $25+ per hour.
So, this means that 61% of freelance writers in their first year may be earning less per hour than an online teacher who just started teaching their first class.
The ability to make your own hours has got to be one of the number one selling points of teaching online.
We’ve all worked jobs where you’re either chained to a desk or have a boss swooping around your head micromanaging. Online teaching provides you with the freedom to work how you want to work, in the hours you want to work.
If you’re only looking to fill a couple days of the week because you’ve got other commitments, then you can do that. If your calendar is as empty as the Sahara then you can work every day, and make some decent earnings doing so.
Of course – once you’ve earned funds, you’re going to need a safe and responsible way of handling it. This is where Payoneer will really save you a lot of time and hassle, as their point to point system ensures your funds are looked after from deposit to withdrawal.
You’ll never be short of classes to fill, especially in these trying times where most of us are housebound and unable to live our lives as we’d like…
But with online teaching you’ll be able to work as much or as little as you want, and this is surely one of the greatest draws to the profession.
Well it’s true that the more hours you work the more you’ll make – and if you’re clever about which company you sign up to work with then yes, many will allow you to dictate your own pay scale.
Some will lock you in to their pay scale, and you will be expected to work a minimum number of hours for a set price. In return you’ll receive access to the variety of benefits such companies provide.
But online ESL companies will say ‘charge what you want’. This is where it gets really interesting.
Services which encourage you to pick your own prices for lessons really allow you to hone in on your own particular set of skills and talents. You don’t teach to a curriculum so much as playing to your own strengths and weaknesses.
It also adds an element of strategy and technique to how you market yourself – charge too much and you won’t get students but charge too little and suddenly you can’t make the rent. Online ESL companies which allow you to choose your own pay scale exist and are abundant, but they lack the security provided by larger companies looking to lock you in to their pay scale.
Regardless of which way you go, it’s great to have Payoneer at your disposal – the ability to transfer payments from foreign currency into a currency of your choice, in many instances free of an exchange tax, is making Payoneer the number one choice for online teachers.
There are certainly online ESL companies which will allow you a greater sense of freedom, such as Preply, but you will always be answerable to their individual codes of conduct. They’re not going to let just anybody rock up and start spending time with children.
Oftentimes they’ll want some evidence of qualification, perhaps proof that English is your native language; or potentially even formal qualifications, like degrees or proof of work schemes.
While you can set your own hours and often set your own pay, if you’re ripping people off then you won’t get any custom – all your students will find alternative education, you will receive poor reviews and your income shrivels.
But it is an exciting industry rapidly expanding, taking in new people every day and showing no signs of stopping. It’s been the fastest growing overseas market for the last two years in a row, and I’d wager 2020 will see it bring home the gold for its third time.
This new and innovative system of education is proving a hit with parents in the East who want their children to learn English from a native speaker – so if you can speak English then teaching online is a great opportunity for the freelancers out there.
While teaching online can help you live quite comfortably if you know how to do it well, it’s great knowing that exchange fees can be a thing of the past with Payoneer.
As Payoneer enables millions of freelancers worldwide to get paid easily and securely by international clients, those who are looking to teach online will be able to keep the earnings they make, and know it’s being looked after by a company whose trustworthy and not looking to sting you with conversion fees.
Overall, teaching online is perhaps the greatest opportunity facing freelancers in the modern world, and it’s a breath of fresh air to know that a payments platform such as Payoneer will have your back in helping you make the most out of this opportunity.
You can sign up to teach online through the DigiNo Job Match Tool.