Shanghai financial tower

5 clever tricks to use your time in China to get rich

China is quickly becoming the land of opportunity for foreign experts to come and earn good money in exchange for providing their demanded skills and talents. As the global language of the world, English is currently in high demand and with insufficient teacher supply to slake the huge demand teachers that come to China find they can earn a very tidy income doing something they love. For those with money on their mind, here are a few tips to make the most of your time in China.

1 Extra tuition

Extra tuition on the side in China can prove a huge money spinner for teachers, this is because classes arranged directly between teacher and student cut out the middlemen and the teacher receives 100% of the students tuition fee. As a general rule of thumb, 200 RMB is currently a fair rate for private tuition, but keep in mind that this is constantly changing and varies city to city. Even if you just do a couple of hours of extra tuition per week, this can still dramatically boost a teachers monthly pay-packet.

But be aware of contract law, many schools will stipulate in the contract you sign with them that you are not to do any extra tuition without their express permission. If this is the case, you may wanna either get their permission or find another way to generate cash on the side.

2 Learn Chinese

The number of Westerners proficient in Chinese is still remarkably low. Consequently, there are plentiful jobs both in China and back home in the West for Westerners who can speak the language. From translation to business liaison. Learning the language can result in some very lucrative job openings.

3 Take on extra responsibility

Many of the schools that employ foreign English teachers are large companies with numerous higher level positions. If you are willing to take on more responsibility then many schools would be happy to consider you for foreign teacher director or a senior level teacher/manager.

4 Make Chinese business contacts

Chinas economy is growing at a phenomenal pace. With companies like Uber and Apple trying to make it big from the Chinese economy there are huge opportunities to use the huge Chinese market to sell a product or service too. By making Chinese business contacts during your time in China you are paving the way to the future potential of providing a business to the huge Chinese consumer market.

5 Learn about Chinese business culture 

It may sound hard to believe but there are careers available with the objective of purely facilitating cross cultural business understanding between East and West. Small social differences and etiquettes can often cause sizeable issues in larger scale business deals. Simple things such as who’s cup toasts lower and how many hands you use to present a business card can often cause uneasiness in business and as such there is huge demand for business facilitators with an understanding of both cultures.

China is developing at an unprecedented pace and with all the current commercial and business opportunities there has never been a better time to make it big in China.

Interested in Teaching English in China? Apply now.

 

Related Posts

5 reasons why TEFLing is a great gapyear experience Year upon year thousands of brave souls from recent graduates to mature businessmen take it upon themselves to stop what they are doing and fly out to a foreign land to teach English. Lets shine some light onto why this prospect is such a great idea. Its good money Teaching English as a second...
5 Mistakes You will probably make during your first day teaching in China China is a challenge and the first time you find yourself standing at the front of a classroom filled with bright eyed Chinese students is a definite character builder. As new teachers it takes a little time and practice to refine our teaching methods and many of us will make a number of common mist...
Simply Shanghai. Teach at the center of the new world   Photo credit: Shanghai nights by Mike Behnken  Shanghai, one of the largest, most famous, well known cities in not just China, not just Asia, but the entire world. Famous for its past ties with the west and an outright modern economic epicenter of trade. That all sounds well and good, ...

2 thoughts on “5 clever tricks to use your time in China to get rich”

  1. I like the one about making Chinese business contacts. Like it or not we’re going to have to deal with the Chinese a lot more frequently in the years to come. So learning their language and culture is bound to be advantageous.

  2. Exactly, I think were lucky to live in a golden age where there is such a clear opportunity to get ahead of the game and learn something that is so clearly gonna pay huge dividends in the future. Plus its an awesome culture and language.

Leave a Reply

Your email address will not be published. Required fields are marked *