And the easiest and fastest way to make money online is by teaching English. Well, at least it is for native English speakers.
You may also want to read a previous post I did. How to make money in Panama
For native speakers, teaching English is a fast easy option to:
You aren't going to get rich teaching English, but you can get a comfortable income. Obviously, online offers the most flexibility and portability. Of course, you can teach in person or online. Also, if you want to teach in person you either need to get a work permit or fly under the radar.
Pay
In reviewing the options, the pay scale is anywhere from $8 to $45/hour.
The pay largely depends on the company and the markets they serve. Well-developed Asian countries like Japan and South Korea are the best paying markets. Companies in China and South America pay significantly less.
How to Make More
Mike Wilbur from Toshuo.com states there are other teachers such as Gabby Wallace who have built huge personal brands and teach large numbers of students directly. Next in line are people with niche brands who teach groups on their own sites. Even tutoring one on one on a large company platform can turn out well. Chad Hansen has earned over $100k tutoring individual students on Verbling. But remember, if you can’t differentiate yourself, the wage floor is very low in an online market.
According to RealWaysToEarnMoneyOnline.com, the only way to make more than $20 an hour is to give group lessons. But there are caveats. 1) Finding and managing a large group of students is challenging 2) Requires web conferencing software 3) Need great marketing and time management skills. I have a friend who makes $100 per hour in a weekly class he runs on the WizIQ Platform, and he’s not the only one. If you have an infectious personality and good marketing skills, this may be the best (and by far the most lucrative) option for you.
If you establish your own website, the suggested rate for an hourly one-on-one lesson is $20. You will find that some teachers charge less than that, but it easy to find students at this price. This is also the price that many of the established companies charge the students. If you have your own site, you keep all of that $20. If you work for a company, they take a cut of it.
You don't necessarily need a degree or certificate. However, you will have more and better paid opportunities if you do.
Little Age Discrimination
For older people, one of the great benefits is there is very little age discrimination when hiring people to teach English online. This is a welcome change. In fact, if you've been a teacher, being older and more experienced is an advantage.
Requirements
It varies, but generally you can find a job teaching English online if you fit the following criteria.
You can get better teaching gigs if you meet any of the criteria below:
Most people who are reading this article can teach online.
Obviously, the first bullet above is the easiest and fastest to use when you are first starting out. But as you gain experience, and perhaps even a following, you may decide to graduate to the other teaching options.
There is an enormous number of companies you can work for teaching English. I have a link to a large list of them toward the end of this page. Before you apply to work for a company, make sure you do some research. While many companies are legit, there are some scams and some just plain bad places to work.
Mike Wilbur from Toshuo.com gives this advice to job seekers when considering the 4 largest online teaching companies.
Advice
He says start with:
Timezones
Keep in mind in which the country most of your students will reside. Most companies have a particular country or region they cater their lessons to. Timezones matter. For instance, China is 13 hours ahead of Panama. As you'd imagine the peak teaching times will be evenings and weekends, China time. 6 pm in China is 5am in Panama. It is hard to get students, if you are in bed when they want to learn.
Online Companies
Keep in mind, the information on their sites are not always up-to-date. If you feel a company is perfect for you, but it looks like you don't qualify, don't hesitate to email them and ask. Sometimes things are more flexible than it appears when reading the website.
Watch this video of an expat's experience getting a job with Open English.
English Teaching Apps
Newest to the game are app based online teaching. Here are 3 of them.
Read about Beverly's experience teaching English online with Boxfish
The above is only a handful of your options of where to teach English online. Mike Veenstra of GoodAirLanguage.com keeps an updated list most of the vast array of companies you can work for.
It includes short descriptions, including pay range, of the companies. He also categories the list by which country the company is based in, as well as the companies for which you create your own teacher profile and market to students.
The Big List Of Companies
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So, when I arrived in Panama I wasn’t sure what I was going to do with myself.
I was searching the internet for ideas when I came across an ad for Boxfish. They were looking for people to teach conversational English to students in Beijing. It would all be done through a program developed by Boxfish for the internet.
Long Application
I decided to apply and it was an arduous journey. They were just getting underway and there were quite a few clichés. I had to fill in an application telling them about myself and attach my CV. I also had to add a video talking about my favourite artist. This video needed to be about 3 minutes long and had to show my enthusiasm about the artist I had chosen. I chose Rod Stewart because I am such a big fan. You also had to have access to an Apple device, which I had to purchase.
Interview
After all that was submitted I waited to see if I would be notified to have an interview over Skype. If I passed the interview I would then be contacted to take the training. All this took about four months. I started teaching mid January 2017.
This application and interview process has now changed, as I describe below.
Fun Teaching Experience
I have enjoyed almost every minute of teaching. My youngest student is 6 years old. I now have a few adults in their 20’s and 30’s. There have been some complications. For instance, when the internet connection is not very good between where I am in Panama and China.
Pay
So, you probably want to know what Boxfish pays and how often I teach. This is how it works. You get paid $10.00 for 25 minutes of teaching. They will tell you it is $20.00 an hour but you very rarely get classes back to back, which would add up to the hour.
Schedule
You have access to a calendar and you mark off the days you are available to teach. When students book a class, the computer will look for a matching time slot and give you a class.
You have no control over how many classes you are assigned or the student. I usually do about 20-25 classes a month. Because of the time difference it is difficult for me to get more classes. I am 13 hours behind Beijing. You also have the opportunity to go on standby for 2 hours everyday. Sometimes classes will be assigned to you from students who have not booked scheduled classes but want one right then.
Get More Info
So, if you are interested in teaching English you can find Boxfish on Youtube. There are plenty of videos about the company, including information on how to apply.
Recent Changes
It has all changed since I applied last September. Now you just send them your name and contact information. You do not have to fill in the time-consuming application, or do a video and your device can be an android.
Conclusion
There are still wrinkles to be ironed out, and that does frustrate me sometimes, but I love tutoring the students and that makes up for all the unpredictability associated with Boxfish.
You may want to read Betsy's article on teaching English online. It covers requirements, advice, and a list of possible companies to work for.
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But don't move down here with no plan.
An "It will all work out" attitude is not enough. To be successful, you need to plan ahead.
What lifestyle do you want in Panama? You must think about this.
Often when people set up their life initially, they don't consciously think about the lifestyle they want. Typically, when starting out, people find the best paying job they can and buckle down to pay the bills.
Then life just happens, around your job.
Now you have a chance to start again.
Decide on your ideal lifestyle. Then find, or create, a job or business that fits that lifestyle.
Before you decide to pursue a job or business, evaluate how it will help you achieve your lifestyle goals.
At the very least, make sure it won't be a major obstacle to enjoying your ideal tropical lifestyle.
Job vs. Business
A job will give you a steady paycheck that you can rely on. That is, unless the job disappears for whatever reason. Of course, it is harder to get a good paying job in Panama.
I talk about ways to create your own job in Panama later on in this post.
Starting your own business can be much riskier. You may not make any money at first, or ever. But it is potentially more profitable.
A business will also take a lot more of your time, especially initially.
It will also mean you have to go out and hustle up business whether you have a
I talk more about starting your own business in Panama later on in this post.
Are you a job-type person or a business person?
Walking into a real, existing, job will get you that steady paycheck. Not a bad idea when you have those extra moving expenses to cover. It is also a great way to meet people in your new home.
There are a number of things to keep in mind when getting a job in Panama. I wrote a post that talks about those things in some detail.
Click here for 5 ways to find a real job in Panama.
Panama offers amazing opportunities to create an ideal job.
A job that allows you the freedom to enjoy your new tropical lifestyle.
The skill set of locals tends to be different from people from the West.
The answers to these 2 question will you figure out a good job to create for yourself.
One way to figure out what type of service is needed is to ask on local forums.
Ask what service they think their community is lacking. Float ideas yourself. Ask, do you think there is a need for _____.
Of course, you should visit for awhile before you decide to move.
While you are visiting is a prime time to do some research on local unmet needs.
Think about all the things you have done in your various jobs and hobbies over time. Things like office management, writing, photography, cooking, editing, fishing, design, plumbing, etc...
Based on the the answers to those two job creation questions above, you should have good idea of what you should be planning to do.
For example, offering services to expats is often successful.
If find a need for which you have the skill set, you have struck gold (or at least silver).
You can also create your own job inside of someone else's business. For instance, you could ask a hotel to hire you to give tours to tourists, or to be their in-house IT person.
There are many kinds of businesses you can create.
In this post, I am focusing on businesses you can create in Panama.
Of course there are many portable jobs and business you can start as well.
I will be talking about portable income options in a future posts. I am a big fan of making money from anywhere there is an internet connection.
In Panama, you cannot do any manual labor, unless you have a work permit, even in your own business.
So if you open a restaurant, you cannot be your own cook or waiter. Again, unless you have a work permit.
For 15 ways to get a work permit in Panama click here
Also, foreigners in Panama are not allowed to open a retail business.
We strongly advise against businesses that requires you to hire employees.
There is a whole host of issues and potential problems that come with hiring Panamanian employees. Maybe eventually you will feel brave enough to start a business with employees, but don't make it your first business.
Of course, using contract workers instead of employees could be a good option
Click here to read about hiring employees in Panama.
One of the easiest and fastest ways to make money quickly, is to teach English online. So if you need to keep the income coming in while you set up your business or other way to make money, it is a good option to explore. You can read about the ins and outs of teaching English online.
Have your work life figured out now?
Okay, now it is time to find some place to live.
You may want to check out our properties in Puerto Armuelles Panama.
Puerto Armuelles is a unique and charming beach town in the popular Chiriqui province. You can find out more about Puerto Armuelles.
