While you are in China, especially if you are working as a teacher, you will probably have the opportunity to earn some extra money on the side as a private tutor or part-time teacher at another school. I highly suggest that you consider doing this. The main reason is that you can earn pretty good money for being a tutor. The going rate in Wenzhou for a private tutor is 100 yuan per student per hour. Most tutoring sessions involve at least 2 students for two hours per week. You do the math. If you are offered the chance to teach part time, you will have to negotiate your salary, but it should be fairly good.
On average, a private tutor can expect to earn an extra 1,000-4,000 yuan per month or more depending on how many students you take on and whether or not they come to you or you travel to them. Usually if they come to you, you will give them a small discount in the tuition fees. I teach 2 students for 2 hours every week and I get 300 yuan for each session which amounts to 1,200 yuan per month. For those of you who are not sure how much that really is, it is enough for you to live comfortably in almost any city in China. This means that you can save your regular salary for traveling, sending money home, or whatever you want. My monthly salary is only 4,500 yuan per month and I need to send most of that home to pay off my student loans since I am now past the grace period. The extra 1,200 yuan means that I can send a little more home or save it for travel.
As of the time of this blog, the exchange rate for yuan to USD is 1 USD=6.828 yuan.
4,500 yuan (RMB)=659.05 USD
1,200 yuan (RMB)=175.46 USD
4,500 yuan (RMB)=412.72 GBP (British Pounds)
1,200 yuan (RMB)=110.06 GBP
4,500 yuan (RMB)=458.44 EUR (Euro)
1,200 yuan (RMB)=122.25 EUR
For those who are interested, you can find up-to-date exchange rates at:
http://www.xe.com/ucc/convert.cgi?Amount=4500.00&From=CNY&To=EUR&x=18&y=5
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