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Side hustles can be a great way to make some extra cash, pay off debt or save for a large purchase. However, of the 44 million Americans that have a side hustle, their average revenue per month is only $500. While not terrible, it’s nothing to write home about.
The company VIPKID is changing all that. With VIPKID, you could earn more income than most other side hustles, and it’s causing some exciting opportunities for people everywhere.
What is VIPKID?
Named one of the most innovative companies in 2018, VIPKID is a service that connects Chinese students learning English to native English speakers in the United States and Canada. Through the power of the internet, native English speakers teach 25-minute one-on-one classes online with Chinese students.
Currently there are over 20,000 teachers and 200,000 students – and the company’s growing quickly, even considering expansion to other Asian countries in the coming years.
How Much Money Can You Make with VIPKID?
Since you can set your own schedule, the amount of money you make each month depends on how much you work.
You may have seen advertisements on Facebook promoting “up to $22 an hour” with VIPKID, but this is definitely the high-end of the spectrum. The minimum class pay for VIPKID is $7-9 per 25-minute class (so $14-18 per hour). But there are other cash incentives as well, such as $1 per class for showing up on time and then another extra $1 per class for finishing more than 45 classes in a month. These one dollar incentives start to add up when you’re teaching 10-20 hours a week.
My wife and I are both in the middle of the pack – each making $8 a class or $20 an hour. In an average month, I earn $1,500 and she earns $1,000 from VIPKID, giving us a total of $2,500 in extra revenue. This is our vacation/debt-pay-off fund, and it’s been incredibly successful for us in the last year.
If you can’t get enough of VIPKID, you can turn teaching into a full-time career. If you taught 40 hours a week, you’d make between $37,440 to $45,760 a year. There are even opportunities to get a raise, but only after you’ve been with the company for over a year (two contracts).
Sign up for VIPKID today and start meeting your financial goals!
What Time of Day Do You Teach VIPKID?
Assuming that you’re living in the United States, you’ll mainly teach in the early mornings and on weekends. You can open time slots anytime from 8pm-9am Eastern Standard Time, but the peak hours will be in the early mornings.
Requirements for Being a VIPKID Teacher
Like most jobs, VIPKID has strict requirements for being a teacher. Take a look at the qualifications so you can decide if this is the right job for you.
- Native English speaker
- A bachelor’s degree in anything– You don’t need to have an ESL-specific degree. It can be in math, computer science, hospitality – whatever, but you have to have a degree in something.
- Ability to work in the United States or Canada
- Teaching experience– VIPKID is a little vague on what “teaching experience” actually means. For instance, for my teaching experience, I mentioned that I was TA in graduate school, and my wife highlighted some babysitting and volunteer work for our youth group at church. It’s really all about how you highlight yourself and your talents. Take some time to think about it. Most of us have teaching experience we can pull from.
- Stable internet – Since you’ll be interacting with students on the other side of the world, you need an internet service you can rely on. According to VIPKID, you need a DSL internet connection with at least 20 Mbps. Some teachers get by with less speed, but it will definitely hurt the experience. Check out your household internet speed here.
Take the First Step with VIPKID
For my wife and I, VIPKID has been one of the best ways to make extra cash without investing a lot of money into a side hustle. If you enjoy teaching and have early mornings available, this could be the perfect extra-income opportunity for you.
Are you ready to take the leap? Sign up for VIPKID today!
The post Make Money with the Ultimate Side Hustle: VIPKID appeared first on ZING Blog by Quicken Loans.
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