Taught simple English to kids 6-8 years old. About 40 kids in a class. They paid 30RMB for a class and I was paid 250RMB. Taught the same material for 8 class a day (sat and Sun). The school got about 19,000 per weekend and I got 8,000. And, yes I did get paid all of it. In Changping near Beijing.
Taught at a private school in Beijing, Students paid 80,000 a year plus living, plus food, plus books, plus, plus. Subject teachers, not English teachers, were paid 10,000 a month, foreign and Chinese both for 12 hours max. Most taught 8 hours for Math, Chemistry, Physics, Accounting, Statistics, etc. all A level courses with UK books. Silly owners fired the headmaster who took 80% of the students to his own new school. This school folded I think.
Private schools usually get the tuition and boarding fees upfront. They tend to run out of money toward the end of the year which makes return air ticket money iffy.
Breakeven depends on rent and the number of non teaching staff, you know the guys that hang around all day reading newspapers and plying cards. One private school I worked at had 65 Chinese and foreign teachers with over 200 total staff most of which did little or nothing.
Rent is a mystery. One school paid annual rent of 25% of tuition collected - this school folded. Other schools had cost reduction programs, firing teachers or abusive fines. Fines for failing to report to a class when the time and day had been changed but kept a secret from the teachers. Class schedules and notices are sometimes posted in Chinese in areas the foreign teachers don't frequent.
I don't usually teach English and usually get to pick the text with the requirement the text be less than 3 years old.
Private schools hire foreign teachers for marketing reasons. My face has appeared all over the place and my resume greatly enhanced (in Chinese).
If foreign teachers get paid more at a private school, tough, the smiling white faces bring in the revenue and job opportunities for Chinese teachers.
I have also worked at two government universities. At both schools, Chinese professors taught less hours and earned more money. I gather the Chinese get a basic salary, around 1200 at my uni, then get paid for hours times a factor (prep or difficulty) and also extra money for extra assignments. One Prof said his 1200 was upped to more than 4500 based on the pay scheme. Me? I get 3700 for 9 class hours contact time but that is 11 paid hours if I was paid according to the Chinese scheme.
Counting down Kunming's Top Ten Smells
Posted byGeez, what a bunch of sensitive foreigners. Frankly, I love fresh durian, stinky tofu, hotpot and don't mind incense. I like nuoc mam too. Hate to ask but WTF are you guys doing in China?
Kunming's bike share options: A user guide
Posted byNow that Bluegogo has gone Byebye, we can get an idea of who made money, and how, providing shared bikes. The unknown is the actual cost of the bikes, A Bloomberg article puts the Bluegogo cost at $400 USD (¥2640) each which I doubt. Mobike says their cost per bike is ¥1000 and other companies say between ¥300 to ¥600 per bike.
Using an exchange rate of 6.6 yuan/1 USD, here is Blugogo's take:
Investors poured in $58.1 Million USD.
20 Million riders forked up deposits, at an estimated ¥99 Yuan each, totaling a cool $300 Million USD.
Cost of 600,000 bikes varies:
Each ¥400 is $36.6 Million USD
Each ¥600 is $54.6 Million USD
Each ¥1000 is $91.2 Million USD
Each ¥2640 is $240.0 Million USD
Net cash flow to the PROMOTERS before salaries, rents and operating expenses
(Investors + Deposit less cost of bikes):
Bike cost each ¥400 is $321.5 Million USD
Bike cost each ¥600 is $303.5 Million USD
Bike cost each ¥1000 is $266.9 Million USD
Bike cost each ¥2640 is $118.1 Million USD
My guess is a bike cost of about ¥600 before kickbacks and over invoicing which leaves more than $200 Million USD for the PROMOTORS. Along the way a bank or two might have made working capital loans and a few nice cars were bought. To lower exposure some stock buybacks from selected investors might have been made. The secrets are all in the books of Bluegogo if they can be found or reconstructed. If I was still teaching Accounting I would use Bluegogo as a teaching tool.
Moral: In China forget profits, look at cash flows, big front money and promotor benefits for quick bankruptcy. Slam Bam, thank you mam, badabing, badabam and Adios!
China considering plan to make Xinjiang desert a new California
Posted byAlien nailed it.
Yunnan scientists find fungus with an appetite for plastic in rubbish dump
Posted byThink: the Andromeda strain
China to phase out fossil fuel cars, boost domestic electric vehicle industry
Posted by@vicar: You make a good point and I agree. However, China has invested heavily in lithium battery production and the capacity online is no way near being used.
To me it is pretty much 1-2-3: 1 - China's lack of liquefied dinosaurs, 2 - A strong domestic demand for autos and the ability to meet that demand, and, 3 - A really relaxed attitude toward environmental concerns means lithium battery production is a lower cost deal in China.
Lithium batteries are really nasty things that, besides a tendency to go boom, have a lot of bad news byproducts that are hard to get rid of.