So, you have the qualifications in the bag and some high level knowledge of your subject and have decided to enter the world of private tutoring. How much can you expect to make and how does it stack up against a more traditional teaching position. Here will examine a few key factors which can decide how lucrative your tutoring business can become and if it is worth pursuing.
First and foremost, as with any job in any industry, the biggest determining factor regarding how much you earn is your own availability. The more time you are available to work, in most cases, the more money you will earn. Especially in the beginning when you are trying to create a successful tutoring business, you need to have full availability and be flexible as to your working times and locations.
A lot of what you earn will be determined by where you are located. This does not necessarily mean you location is fixed, as we will discuss later. Your base location will of course have its own market and average prices in regard of tutoring. Supply and demand is the biggest factor in this determination. For example, in the USA, you may only command a basic salary to tutor in English language since the demand will be relatively low. Change this location to the Middle East or Eastern Asia and you have the ability to charge a premium due to the greatly increased demand
Along with your base location, subject area will go hand in hand to decide your earning capacity. Generally speaking, the more technical or specific the knowledge, the higher fee you can charge, for example, earnings would differ greatly tutoring Spanish to South American school kids than tutoring Advanced Mathematics. That said, again the supply of readily available teachers plays a huge role in determining your market value more than subject.
Purpose of Study
Tutoring for high level examinations or university entrance exams to prestigious schools are known to be hugely lucrative. Therefore the purpose and overall outcome expected by the student or their parents/organization will be a huge contributing factor as to the size of your earning. Generally, the higher the aims of the student and bigger the benefit of a successful outcome, the higher the fee you can command. Bearing in mind that along with these higher objectives comes a higher expectation and pressure to perform from you.
On occasion, tutoring can present the opportunity to travel with or to overseas international students. This kind of client and travelling obviously entails a much higher fee and often including expenses. If you position yourself well within the market, the jet-set lifestyle awaits, as is the case with this British tutor.
In the worldly and diverse industry of tutoring, it is accurate to say that the choice is yours. If you have the correct mindset and desire to travel and work hard, your earnings can reflect that whilst also affording a luxurious travel schedule. Alternatively, you can begin a very lucrative career by staying close to home and building a loyal student base. Take your pick.