The explosion of online education has created huge opportunities to look outside home borders for work opportunities.
The industry is set to grow x3 over the next 5 years and continue to create a growing demand for online teachers. Teachers now have many more possibilities of earning a living from overseas income and earn money in a foreign currency.
Earning online income overseas isn't always straight forward
Earning your income from abroad doesn’t always run smoothly and can add complications when it comes to getting paid.
Most will receive their money through foreign exchange, and this may even leave you feeling short changed from additional exchange fees/bank charges!
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Or if currency movements are unfavourable it, in effect, becomes a wage cut! Add on on top paying Tax to your home nation and at this point many teachers may just prefer their ‘home’ currency.
So what happens when you’re working as an online teacher for DaDaABC, who pay in Chinese Yuan?
What impact will it have to my wages?
Are they going to rise or fall?
Well, if you see yourself working for DaDa for the long-term, your future pay-packet actually looks promising (as long as you’re a successful teacher who is reliable of course).
DaDaABC’s standard wage increase plan is an extra 10rmb per hour after the end of a 12 month contract, capped somewhere around 160—170rmb or $25ph). However, things aren’t as simple as that and there may be a hidden extra to the whole process!
What may happen to the Chinese currency?
Many economists are expecting the Chinese Yuan to appreciate against the US dollar in the longer-term.
The currency strengthened for the first time in four years in 2017. And the easing in depreciation pressure and with escalating trade tensions may push the US to a lower $ value . This has allowed China to take steps toward making Yuan trading a more market-based currency. China has recently introduced Yuan-oil contracts that can only strengthen China's currency status, and eventually lead the Yuan to become a global reserve currency at some point!
Ultimately, the Yuan is appearing more and more a sounder bet for the future and thats a good thing if you get paid in it!
So, what does this all actually mean for you? Well, a yearly wage rise from DaDaABC plus Yuan appreciation should see your dollars going even further!
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