Making Money With Online Tutoring
Online tutoring has become a popular way of making money from home in recent years, mainly due to the advances in tutoring platforms and websites offering powerful tools for both tutors and students.
Here are the main platforms available for online tutors:
- Online tutoring websites, such as tutor vista, Chegg, Vedantu, Wyzant, Tutor comp, etc.
- Online jobs websites, such as freelancer.com, upwork.com, and guru.com, where a number of online tutoring vacancies are available. However, most of the time the only tutoring jobs you can find here are related to simple and small college assignments and academic paper writings. Long-term tutoring jobs are rarely seen here.
- Run your own website, upload interesting content and charge your students based on monthly or yearly subscription. The most popular websites of this type are offering video lectures mainly on specific exams or subjects like math, finance, and statistics.
No matter which platform you choose, the amount of money you make will be based on the subjects offered, your tutoring experience and skills, and geographical location of students.
According to payscale.com, the hourly rate of an online tutor in the US ranges from $9 to $40. The median rate is $17 per hour. Based on the average working time of 30 hours per week for a good online tutor, the annual salary can reach up to $60,000 and more.
This amount can be slightly lower if you are offering courses outside of the US, and can significantly differ if you are offering courses, for example, in emerging countries of Asia. For example, if you are an online tutor in India, the hourly rate can be as low as $1.
The offered subject is another key determinant of your salary. The most popular subjects offered by online tutors are Math, Physics, Chemistry, Statistics, Finance, Languages (English, German, French, Spanish, Chinese), and courses such as SAT, GRE, GMAT, TOEFL, ACCA, CPA, CFA, FRM, etc.
The lowest rates are noticed in elementary school subjects and the highest rates in specific exam preparation courses such as CFA and CPA.
Although there are many platforms offering jobs for online tutors, the competition is very harsh here.
This means that a tutor without teaching experience has tiny chances to earn money for living.
On the other hand, you can have success by offering specific courses that you have strong knowledge in with no teaching experience.
For example, if you’re a finance industry worker, you can offer subjects in finance, accounting or courses preparing for the exams relating to these subjects.
When starting your career as an online tutor, it is very important to make a research on the available platforms.
Choose the one that matches your experience and skills, make your profile attractive to prospective students, specialize in a certain subject or subjects and focus on a particular group of users.