There are many job opportunities for online work, but I am going to focus on one that I am familiar with. I'm going to lift the curtain and give you key insights into the industry.
Before we begin, it's important that we make these distinctions:
TEFL - Teaching English as a Foreign Language
TESOL - Teaching English to Speakers of other Languages
TESL - Teaching English as a Second Language
Prerequisites
There are some prerequisites for teaching English- in person or online.
• Fluent in English
• TEFL/TESOL accreditation
* Having a degree is an added benefit, but it’s not always needed.
Equipment
Without the right equipment then you’ll struggle to get into the industry or be taken seriously. You'll need to have the following to be a full-time online English teacher.
• laptop
• Webcam
• Headset with Microphone
• Reliable internet connection
Method of payment
The simplest way is through PayPal. Some companies can pay you directly into your bank account, but most will expect you to have PayPal. It is the most widely accepted form of payment in the industry, so it would be wise to have this set up and ready to go before you start teaching.
Let's take a look at how to set up a PayPal account
First National Bank (FNB) is the only bank that I am aware of that allows you to set up a PayPal account. FNB collaborated with PayPal in 2010 to help South Africans easily retrieve their PayPal funds. You will have to use FNB's infrastructure to get set up, but don't worry if you don't bank with FNB, they have an option for non-customers.
Click here to be taken to their online portal for PayPal
Make sure you have PayPal set up before setting up your FNB account
Sign in to your FNB online banking profile once you have created your PayPal account and link the account with FNB. You need to select ‘My Bank Accounts’ and choose ‘PayPal Services’ in your online FNB profile.
Then....
Follow the prompts to link your PayPal profile and you'll be ready to go. Remember, that you can link non-FNB bank accounts, you are just using FNB's infrastructure to get this done.
Once your PayPal and FNB accounts are linked, you can start withdrawing from PayPal directly from your FNB online banking profile. You don't need to log in to PayPal to try and withdraw the funds. Remember to go to FNB online banking and check out the PayPal section in ‘My Accounts’.
You cannot withdraw directly from your PayPal account, FNB withdrawals from PayPal to your linked card. FNB has their own in-built system for withdrawing your funds, it doesn't take too long and should take takes 2 mins to make a withdrawal request.
Remember, there are always fees in transactions. The withdrawal fee is between 0.81 - 1.51% of your total amount, and It usually takes between 2 - 5 business days to receive funds.
Searching For Jobs
This is the most challenging part because it is a highly competitive industry and it is very saturated at the moment. Be prepared to hear a lot of NO's before you hear that magical YES. Please don't get despondent, because you need to go through a lot of no's before you land your first job.
Here are some tips on what to include in your application:
• 1 page CV with a small 2x4 picture
• Short introduction video (1minute)
- Speak clearly, slowly, and confidently
- Have an eye catching backdrop
(Alphabet letters, nature, shapes, colors, or animals.)
Here is an example of one of my backdrops:
If you are interested in teaching English online, check out these companies:
If you are interested in teaching in Thailand click here
If you are interested in Teaching in China click here
Here are a few resources to get you started and to help you become a better teacher:
• https://en.islcollective.com
Here are several classroom platforms that will make your classroom more exciting, I guarantee that you'll be the coolest teacher at your school :)
Remember, "I hear and I Forget. I see and I remember. I do and I understand". -Confucius
Let's Talk Moola, Baby
I know everyone's financial circumstances are different, so some of you may be prepared to work for as low as $10 an hour. Don't get me wrong I started out working for $10 hour, but I have been in the industry for awhile now, so I feel as if my value is much greater than that.
If you are starting out and gaining experience I wouldn't be too fussy, you are building your name and brand and that takes time.
Many schools pay between $12-26 (They are a business after all). Once you start building a name for yourself this is when the lucrative deals come, you can branch off and find your own students and charge a much higher rate because now you aren't reliant on a 3rd party anymore to find you students. Transitioning to this stage can take awhile, but is totally worth it. If you get to this stage, you'll need to prepare your own content and be ready to adapt to different levels.
Fun Fact:
For those that have a taste for investing;
There are a few online Chinese schools listed on the New York Stock Exchange (NYSE): The reason I'm telling you this is because I usually like to invest into companies that I use, or I know a lot about.
When I began teaching English abroad in early 2017 I decided to immerse myself completely in the industry and learn all I could. The more I learnt the more I realized that I needed to do more. I began taking 10% of my savings and I began investing into one of these Chinese schools - TAL Education Group. I felt proud of myself for pivoting at the time because as the industry was kicking off teachers were racing to get online jobs - and still they are, and here I was looking to invest in these education stocks.
Like a magician showing us his right hand while we should be watching his left, teachers lined up one by one to get online English jobs. I was in the line too, but I had a hidden card up my sleeve - to buy stock of the company all these teachers wanted to work at.
Because of this I felt content with hearing NO after NO after sending out applications. I was willing to accept a lower paying job at the time, and because of this I was able to get experience and grow my personal teaching brand.
Even till this day I hate the idea of trading my time for income, and this is what drives me to invest. The belief that one day that amount will be large enough to call it quits and work for myself.
TAL education Group later went on a parabolic rise, especially when Covid-19 hit and everyone moved to online, I cashed in my chips and got paid my $30 an hour for all those $10 hours I worked.
That time may be upon us again. Since then:
• TAL Education Group (TAL) (Trading at $41)- down 52% from their highs.
• New Oriental Education & Tech (EDU) (Trading at $10.62) -down 45% from their highs.
(25 May, 2021)
I would like to gift you with a small reward for taking the time to read this to the end, your efforts never go unnoticed, here is to improving our financial well-beings and advancing our careers :)