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Teaching English online is a great side income and provides a means to begin working from home.
So can you get paid to teach English online in 2020? The answer is yes, of course! There are more companies than ever moving online. There is an abundance of jobs at present, and more students are joining companies to learn English online.
Who Can Earn Money Teaching Online?
You can earn money as long as you are fluent in English. We have some job posts mentioned on our site.
Don’t have a degree? Check out the top companies that hire those who do not have a degree.
How Much Can I Get Paid to Teach English Online?
You can get paid usually on an hourly basis, although there are some companies that pay you whether your schedule is booked or not.
It is quite possible to earn $20 to $26 per hour, especially if you are a native English speaker. Check out Magic Ears, for example.
That doesn’t mean there isn’t hope for the rest!
Non-native English speakers who are not citizens of native-speaking countries might have to look further for such high paying opportunities, but there are many jobs in the $10-$20 per hour range.
There are platforms where teachers can set their own rates and have their own courses too, which have higher earning potential!
There are truly many ways to earn as an online teacher, from teaching to writing content to making videos. So there is no perfect answer to this question.
Bear in mind that new teachers often start off with a lower rate, so be sure to check the company and their pay scale.
They usually give performance bonuses, such as “on time for class” bonuses to teachers to motivate them to work hard.
Will I Get Paid for Lesson Planning?
What’s great about being an online teacher is that as long as you are with a teaching company, there is minimal or zero lesson planning required!
The companies have their own teaching material, so you can just log in to your lesson and begin teaching!
It might be good idea to look at the lesson beforehand, to see what exactly you’ll be teaching that day, and if you need to prepare any props.
Usually after the lesson, teachers are required to write up a short comment or report to let the students know how they are doing.
How Often Do I Get Paid?
Depending on what company a teacher works for, teachers can get paid monthly, weekly or each time they finish a course with students.
Teachers can expect to receive their pay at least every month.
for signing up!
Do I Receive The Same Pay Each Month?
Teaching English online does not gaurantee the same pay each month.
While teachers set up their schedule however they like, they can choose to teach fewer hours or more hours depending on their circumstances.
While 100% of the teachers’ schedules might not be fully booked, companies endeavor to book as much of their schedules as possible.
Teachers can always add more hours if necessary, or teach for multiple online companies so they can always be sure to fill in their hours.
It’s really up to the teacher themselves how much they want to work.
How Do I Pay Taxes?
When you are employed by these companies as an independent contractor, you are responsible for your own taxes.
This will depend on your own state law and jurisdictions.
Always set aside a bit of money to pay your taxes, don’t forget!
How Do You Get Paid By a Foreign Company?
How you choose to receive money from online teaching companies will have a noticeable impact on your paycheck each month.
If you have your own private students, this is another story, as you will have to find the best way for them to pay.
So, what are the best payment options right now, and which ones should you join? Let’s look at seven popular methods now and discussing the benefits and drawbacks of each payment method.
1. Bank Wiring
If you live in the US and have a US bank account, it will be easy to collect money from online teaching companies.
Most companies pay in USD and you can accept payments without any bank fees.
If you are not from the US, bank wiring can be expensive as it would mean converting currency received by companies or students.
It can incur a flat fee and unfavorable exchange rates. You can check the details for sending and receiving money internationally with your current bank.
You may find that using your bank details is a convenient way to accept payments, but you could be losing a lot of money.
If you are Canadian, you may set up a US bank account with certain banks. However, you will incur unfavorable exchange fees when you are converting the money to CAD.
Transferwise is my number one recommendation for receiving money for those who don’t have a US bank account.
You can open a virtual US bank account no matter what your nationality is and receive money.
You can set up a Transferwise account for free and accept multi-currency.
When you sign up, you will be asked to fill in your details. When you do, you can receive your bank details for different currencies.
Transferwise uses the mid-market currency exchange so you won’t be affected by poor exchange rates.
When you receive money into your Transferwise account, you can spend it with your Transferwise card, save it or transfer it to your bank account.
Transferwise complete fees amount to approximately 0.5% of the transfer’s volume which is amazing. The website lets you view fluctuating exchange rates and you can sign up for free rate alerts.
Transferwise is highly rated on Trustpilot and it’s a great platform to receive foreign currency from teaching companies.
However, Transferwise US borderless accounts are not available to residents in certain countries, so you will have to check if your country is supported.
If you have your own students, you may have to look into other payment options.
Payoneer maintains an excellent 4.6-star review on Trustpilot and nominated in Forbes top 50 Fintech Companies of 2020.
When you are setting up a Payoneer account, you will have to wait a few days to be approved. Be aware of potential delays when signing up. It also could take a number of weeks to receive your Payoneer MasterCard.
Payoneer allows you to receive and make payments.
They charge a 2% currency conversion charge on incoming payments, which works out more expensive than Transferwise. You can see the exchange rate before you finalize your transfer.
Payoneer integrates well with other platforms, such as Amazon, Airbnb and Upwork. Therefore it is suitable for receiving money as a freelancer or small business.
It is available in many countries around the world, making it a good way to accept payment from students.
Paypal is a safe and secure platform to send and receive money. It takes 2-4 days to transfer money to your account.
It charges higher fees than the other platforms, and you can set up a multi-currency business account.
Paypal is a good option if you don’t have to exchange currencies. Some online teaching companies, such as Gogokid, allow you to receive money to your Paypal account.
Paypal may not be a wise platform to use to send regular international payments due to the fees.
The transfer fees can range from 0.3% to 7.4%, depending on the country. They also charge currency conversion fees and ATM fees.
People like to use Paypal because of the anonymity when making payments, and not having to enter your credit card details on a strangers’ website.
If you are selling your students’ digital ebooks or courses, you can share your product with Gumroad.
Gumroad has high enough processing fees, at approximately 5% + 0.25c. They take the payment for you, depositing it directly into your bank account.
It is easy to use and you don’t have to worry about self-hosting and let Gumroad do the work. You can accept payments through credit card or Paypal and collect taxes from people living in the EU.
If you want to receive payments directly from your website, you can use a Stripe plugin to accept payments.
This incurs lower fees than Gumroad and Paypal. You will have to go through an application and setup process.
Once everything is in working order, you will be ready to receive payments.
Stripe charges 2.9% + $0.30c. SSL certification will be required on your website, so customers can make secure payments on your website
Samcart is a funnel system, similar to Clickfunnels. It can help you promote your lessons and courses but can be a little pricey if you don’t have many students.
If you are selling many things, it can greatly increase the average order value of each customer.
Samcart is definitely for the teacher-entrepreneur who wants to create and sell products.
It starts at $99 per month. You can also charge subscriptions to your customers, allow them to sign up for free trials and more.
There are multiple ways to get paid teaching English online.
You will see from the options above that we recommend using Transferwise and Payoneer, when possible. Transferwise has some of the lowest fees available and may be the most suitable option for teachers outside the US.
By teaching English online, you could earn enough money as a side or even full-time income.
If you are selling courses, you may want to consider Gumroad if you don’t have any hosting. If you have a website and self-hosting, you might want to consider using Stripe to accept payments.
Leave aside some money each month for your taxes and keep tracking of your payments.
Sign up for an online teaching company if you haven’t already. Best of luck!