Search found 17 matches

by mathphyschap
Wed May 05, 2021 9:53 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: Admin that touch
Replies: 10
Views: 9055

Re: Admin that touch

It's totally inappropriate.

But at the same time it can be quite amusing as long as it's someone else suffering. I was in one meeting where an Academic Director touched the shoulder of one of his more vocal backers among the faculty and left his hand there for a good 100 seconds or so while the face of the teacher in question got redder and redder and stayed red for a good 15 minutes after the director removed it.

I did live in the US for a while around 15 years a ago and it was quite common back then for managers to given their workers a joe-biden style shoulder rub to encourage them. I'm pretty sure it would be out of fashion now though.
by mathphyschap
Sat Feb 13, 2021 7:03 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: I need to retrain in order to survive this pandemic.
Replies: 4
Views: 5606

Re: I need to retrain in order to survive this pandemic.

I've worked with quite a few teachers with a PGCEi at tier 1 and tier 2 international schools.

Some of them have also gone on to work in UK independent (private) schools which don't need the full PGCE+ QTS, it maybe that some private schools in Canada accepts PGCEis - though I have no idea about this

Once things are back to normal, perhaps August 2022, then I think there should be a job for you in China at a tier 3 international school - I believe there is a Canadian chain associated with a particular type of 'leaf' that has schools across China and many more that would accept your PGCEi, particularly if you are willing to go to a city other than Beijing or Shanghia

Once you have done two years then you can look at applying to tier 2 schools and your in the system
by mathphyschap
Sun Nov 22, 2020 6:21 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: China all benefits taxed from Jan 1 2022 update
Replies: 30
Views: 28861

Re: China all benefits taxed from Jan 1 2022 update

Hi all,

Thanks everyone for replies

So my tier 1/tier 2 Beijing school seems to have reached a decision on this first-stage of the Chinese tax changes

1 - Current staff with 2 children in the school can still get a contract for one more year August 2021-August 2022
2 - Hiring freeze on teachers with dependents is effective immediately- the grapevine suggests that only teachers without dependents will be hired this year, a fairly low number of staff are moving on and probably can be replaced by teachers without dependents - those with need not apply.
3 - moving forwards (i.e. hiring for August 2022) the school will hire 'decent' teachers with one dependent child i.e. one teacher one child will be the norm, teaching couples with two children will be A-OK.
4 - teachers with two children will be hired IF the school really wants them i.e. SSLT positions, selected senior school hard-to-fill positions. Everyone else with two children : one teacher need not apply

This is information gathered formally+informally and is somewhat speculative - have other people heard similar or different messages/rumors?

As a math/physics teacher with two children (and non-teaching spouse) I'm now regularly checking non-China jobs while keeping in mind that (1) I might not get my contract renewed (I wouldn't blame the school - I wouldn't blame 'the-man) and (2) While China is a Huge part of the international education market there are other countries out there.

Overall though this is a pity - one of my life-philoshopies was that 'There is always a half-decent job in China, which includes kids education' and I'm not so sure about that anymore.

Anyone else heard any formal/informal updates on this?
by mathphyschap
Tue Nov 03, 2020 2:33 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: China all benefits taxed from Jan 1 2022 update
Replies: 30
Views: 28861

Re: China all benefits taxed from Jan 1 2022 update

Thanks Psyguy and Expatscot

@Psyguy - agree 70% of a benefit still better than no-benefit at all, so China maystill trump moving back to the UK even if terms and conditions were clipped by 20%. Also agree China is a big employer and changes in China might ripple out across IE if lots of teachers stream out . Could be that the pendulum swings more towards working in other Asian countries for those teachers (with kids) that are successful in moving on.

@Expatscot - seems like a lot of international schools are making announcements now - along the lines of 'Tax changes are coming, your benefits will be protected for another year or two, after that...' . For teachers with kids it's a challenge either way - if the school doesn't cover it then that's upto a 35% tax on each child's tuition, if the school's decide to cover it then that's a big disincentive not to higher teachers with kids. Not sure about trying to hide teachers kids amongst the crowd, I think the Chinese authorities are 'on the ball' (to quote an Ant and Dec song from some time ago)..

What I find interesting is that a lot of my colleagues - including ones with two kids - are still thinking it's not going to impact them. It's a big change..
by mathphyschap
Sun Oct 25, 2020 11:32 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: China all benefits taxed from Jan 1 2022 update
Replies: 30
Views: 28861

Re: China all benefits taxed from Jan 1 2022 update

Thanks @expatscot

That would be grand if they have been talked out of this - pay and conditions in China are pretty favorable at the moment, especially for teachers with children in education.

I do though know of at least one tier 1/tier 2 international school that emailed it's teachers last week to say these changes are coming ...

Has anyone else heard anything?
by mathphyschap
Sun Oct 25, 2020 11:29 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: China all benefits taxed from Jan 1 2022 update
Replies: 30
Views: 28861

Re: China all benefits taxed from Jan 1 2022 update

Thanks - a good point

These are some Chinese income tax bands according to PWC
(https://taxsummaries.pwc.com/peoples-re ... nal-income )

Table I
Annual taxable income (CNY*) Tax rate (%)
0 to 36,000 0
Over 36,000 to 144,000 10
Over 144,000 to 300,000 20
Over 300,000 to 420,000 25
Over 420,000 to 660,000 30
Over 660,000 to 960,000 35
Over 960,000 45

My guess is that most international teachers at tier 1/tier 2 have an annual salary in the 420 000 to 660 000 RMB (tax rate 30%) and that IF the Chinese government considers all benefits (housing, meals, children's tuition etc) as 'extra income' then this may push them into the 660 000 to 960 000 bracket and the 'additional tax on the additional income' could be 35%.

I've had quite a few collogues say 'it's not extra income because no money moves', particularly for children's education but some of the rumors going around do seem to suggest that this is exactly how 'fringe benefits' are going to be treated from Jan 1 2022.

I think some of this is starting to be discussed in international schools around China and am curious to hear about what others are hearing (or even seeing in writing..) ?
by mathphyschap
Sun Oct 25, 2020 8:03 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: China all benefits taxed from Jan 1 2022 update
Replies: 30
Views: 28861

China all benefits taxed from Jan 1 2022 update

Hello all,

Me: currently teaching in a tier1/tier 2 international school in Beijing

There are ongoing discussions/rumours going around our school that from Jan 1 2022 all benefits, including tuition for children will become taxable benefits in China, i.e. Accommodation, Flights, Tuition, Medical Insurance etc. All these benefits would be ADDED to your salary (pushing you up the progressive tax table) and taxed at your marginal tax rate (likely to be 30-40% at a tier1 ish school)

This is some way away but could shake up the Chinese international school market quite a lot

i.e. Monthly Benefits:
Accommodation: 10 000 RMB / month
Flights: 24 000 yr/12 = 2000 / month
Tuition for one child: 200 000 yr / 12 = 16 700 / month
Food/Bills Allowance = 2000 / month

Total Monthly Benefits (currently tax free) = 30 700
IF taxed at marginal rate of 35% = 10 700 RMB / month extra tax (about USD 1600 / month extra tax)

Has anyone else heard anything about this? If it actually happens and if schools don't cover the costs then that's a big downgrading of a major employer on the international scene. I think some schools might have started to put things down in writing to staff?

Might also mean China comes off the list of possible countries for teachers with children (for better or worse)
by mathphyschap
Tue May 07, 2019 2:29 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: China: All benefits taxed from from 2022?
Replies: 9
Views: 10675

China: All benefits taxed from from 2022?

Hello all,

Me: currently teaching in a tier1/tier 2 international school in Beijing

There are discussions/rumours going around our school that from Jan 1 2022 all benefits, including tuition for children will become taxable benefits in China, i.e. Accommodation, Flights, Tuition, Medical Insurance etc. All these benefits would be ADDED to your salary (pushing you up the progressive tax table) and taxed at your marginal tax rate (likely to be 30-40% at a tier1 ish school)

This is some way away but could shake up the Chinese international school market quite a lot

i.e. Monthly Benefits:
Accommodation: 10 000 RMB / month
Flights: 24 000 yr/12 = 2000 / month
Tuition for one child: 200 000 yr / 12 = 16 700 / month
Food/Bills Allowance = 2000 / month

Total Monthly Benefits (currently tax free) = 30 700
IF taxed at marginal rate of 35% = 10 700 RMB / month extra tax (about USD 1600 / month extra tax)

Has anyone else heard anything about this? If it actually happens and if schools don't cover the costs then that's a big downgrading of a major employer on the international scene.

Might also mean China comes off the list of possible countries for teachers with children (for better or worse)
by mathphyschap
Sun Jun 26, 2016 9:25 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: Brexit Implications on EU
Replies: 45
Views: 82498

Re: Brexit Implications on EU

I'm not so sure N American teachers are 'generally' easier to deal with.

(1) British teachers (reluctantly) accept teaching load in terms of teaching hours. A teaching load of 24 teaching hours with 20-24 unique lessons might cause raised eyebrows and muttering in Brits but in my experience colleagues from N. America will be straight over to the senior management team arguing about the number of 'preps'.

(2) Where things don't work as they should. For example a dispute with a landlord where school admin staff are involved or even an argument with a local taxi driver outside the school gates. N American colleagues can more quickly take a confrontational approach 'This is not acceptable / You cannot be serious'

That aside I think some sort of EU-lite deal should emerge between the UK and Europe, there are already a lot of Europeans working in London and the rest of the UK and millions of Brits based in Europe who will need accommodating. Time will tell.
by mathphyschap
Tue May 10, 2016 9:31 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: International Pensions Warning
Replies: 5
Views: 12207

Re: International Pensions Warning

I feel this post should be bumped up (every few months)

Either a self managed/tracker fund or buy to let (rental) investment will work fine for IE. Stay away from any glossy brochures showing happy middle aged or retired people on a boat or beach - the guys selling you these expat life assurance or pension packages are trying to take you for a muppet. They take fees upfront (ie. from the first 12-36 months payments- read the small print) and then invest in tracker funds (which you can do yourself easily) and then they charge you another 1-2% a year.

I didn't name names in any earlier posts but on reflection I think might share my own experience with Austen Morris trying to get me to sign up to the Generali Vision life assurance plan. The sales rep was a friend of a friend and I met with him mostly because he confused politeness with thinking I wanted a meeting. He was pleasant but alarm bells started immediately when he presented two projections of 7% or 12% growth in the stock market over a 30 year time frame -12% !! I He then went straight on to talk about Generali Vision (que the brochure with pictures of boats, beaches and sunsets) before I could have a proper debate about the likelihood of 12% return after tax. I think that was his pitch he had been trained to give to IE teachers.

I ended up looking over the small print of Generali Vision and the Austen Morris materials and (at that time) it was just a bad deal. The first 36 months of payments (in my case would have been US $1200 a month) just go towards covering the fees (you get nothing back if you drop out). After that you have a fund basically linked to the stock market with two management fees (both 1-2%) and additional fixed fees. Even if the stock market goes up 7% a year you are likely to end up with 3-4%.

And I'm not the only one to have a bad experience

http://answers.echinacities.com/questio ... tin-morris

http://www.shanghaiexpat.com/phpbbforum ... 65-30.html

I think a good rule of thumb is only use financial services which have a significant presence in Europe or North America and are regulated there. Even then be very careful.
by mathphyschap
Sat May 07, 2016 1:06 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: 2nd tale - How IS teachers can earn 300K a year.
Replies: 10
Views: 23761

Re: 2nd tale - How IS teachers can earn 300K a year.

I think I could maybe simplify the topic and first message to

- How can IS teachers do well financially?

(i) Find a setup where you can save US $15 000 or more a year for a more than 5 years.
(ii) Invest it in something that will give you a decent return.

Either a self managed/tracker fund or buy to let (rental) investment will work. But remember stay away from glossy brochures showing happy middle aged or retired people on a boat or beach - the guys selling you these expat life assurance or pension packages are trying to take you for a muppet. They take fees upfront (ie. from the first 12-36 months payments- read the small print) and then invest in tracker funds (which you can do yourself easily) and then they charge you another 1-2% a year

Buy to let (rental) is perhaps more of default investment in the UK while our cousins across the water prefer the stock market. I agree you should use an agent to manage a rental property as you should be looking to make money while you sleep without getting phone calls in your sleep about broken toilets. Buy to let has worked for me so far even though I invested either side of the last crash. I have never seen rent prices go down. If your property is near a working population of 20 000 or more, is close to a variety of local amenities, has good transport connections and 2-3 bedrooms then it should rent within a month.

Diversification is generally a good idea, though if you Google 'Warren Buffett quotes diversification' you might be surprised at what you get.

To add something new:

Why you shouldn't put your hard earned money in cash accounts
If you put US $50 000 away and get 4% (3% after tax) for 5, 10 or 20 years then you will end up with far less money than if you invest the same amount and can get 6-9%. Basically you will only match inflation. Banks love people putting money in cash accounts as they can take that money and quite easily get a better return investing in something related to stocks or property. Also if you are walking around knowing you have US $50 000, 100 000 or more in the bank account then at some point the right or subconscious side of your brain will override your earlier pledges not to touch it and you WILL take a chunk out of it. Then you are on the way back to square one.
by mathphyschap
Wed May 04, 2016 1:20 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: 2nd tale - How IS teachers can earn 300K a year.
Replies: 10
Views: 23761

Re: 2nd tale - How IS teachers can earn 300K a year.

Ok so it's terrible to somehow find yourself watching a 1990s north american infomercial on real estate investment. As you watch some orange faced, pearly toothed host use his local DJ voice to talk about 5% a year increase and inevitable long term rise you might think - Why me? How did this happen? Where did the remote control vanish too? Why is it so far from the sofa to the TV?

But what happened to those that bought an investment property in 1995? or even 2005? Unless it was in Fukishima or some other extreme case it probably went up a significant amount, even if like me you brought a property just before the 2007/2008 crash.

http://www.census.gov/const/uspriceann.pdf
http://www.ons.gov.uk/economy/inflation ... 2015-09-15

Even in the unlikely event that house prices don't go up over 12 years rent prices almost certainly will.

I would stand by the main messege of my first post, prices will rise in the long run. Living beneath your means and investing for the long run is like eating 8 vegetable and 1 fruit serving a day, or not smoking. All mainstream evidence says that it works but a lot of people don't do it.

I would say while saving I lived like a postgraduate student who took one trip to Europe and another to a beach in SE Asia every year, rather than living like a hermit. Watching Pineapple Express with friends in the relaxed environment of an apartment while eating homemade pizza and drinking cheap cold beer can be as much fun as spending lots more at an expat bar.

Saving US $15 000 to 20 000 is something teachers might want to prioritise in their early years in IE.

Opening a training centre can also work well. I had two friends open an IELTS training centre in Beijing. I told them it wouldn't work (they would get closed down for licensing reasons) but they got lots of students and staffed it with lots of attractive local teachers. I guess there is always someone to tell you something won't work.
by mathphyschap
Tue May 03, 2016 9:33 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: 2nd tale - How IS teachers can earn 300K a year.
Replies: 10
Views: 23761

2nd tale - How IS teachers can earn 300K a year.

Another meandering tale, some of which is based on real events, hopefully of use to some.

Several years ago I chose to try and work in tier 1 and 2 IS rather than join my former classmates working for an oil or pharma company. Part of my decision was that I thought I had a realistic model where teaching in IS worked out more lucrative overall than a career in engineering.

How an IS teacher can ‘earn’ 300K (US) a year:
So this is a 12 year plan based on gaining better conditions (with experience) in international schools, purchasing three buy to let (rental) properties and including free tuition and increase in asset values as ‘earnings’ to reach the headline figure. I am assuming any financial crisis during the next 12 years would eventually be countered by some form of quantitative easing (i.e. printing money) as happened after 2007/2008 which would mean house prices (or stock markets) are re-inflated.

Years 1-5 – developing saving habits and purchasing your first buy to let (rental) investment
In your first year as an IS teacher you need to (i) begin to develop good saving habits and (ii) make sure you have a credit card back home (in the UK/USA etc) which you use and pay off regularly. Many (though not all) popular IS destinations offer far better saving potential than back home. One key saving is not running a car, I strongly recommend you don’t unless you really need to. Also try eating in with friends or eating at local restaurants for most meals outside of school. If you want western food have McDonalds every now and then and keep fancy western restaurants and cocktails as a treat. Apart from the annual trip home to see family you should travel regionally (i.e. China to the Phillipines) and book your flights and hotel well in advance. Torrent sites mean you can download most movies, TV shows and ebooks for free (the FBI are not going to chase you to China), just buy the occasional book or movie ticket.

Your aim is to save US $20 000 a year, though this plan should still work as long as you consistently save US $15 000. Once you have a savings habit you should find it doesn’t hinder you quality of life, you may even feel more content at the end of each month with more money in the bank.

By year 5 you should have saved US $100 000 (or at least US $80 000), this is the deposit for your first buy to let (rental) investment. As long as you have been regularly using and paying off your credit card from back home (and maintained a general bank account back home as well) then your Experian.com credit score should comfortably be good enough to get financing. There are multiple specialist agencies and lenders that offer expat mortgages and you CAN get financing. Your buy to let (rental) investment should be one that will rent easily (near a working population of 20 000 or more, close to local amenities, good transport connections, 2 or 3 bedrooms) and with a deposit of US $100 000 you should be able to buy a property worth US $400 000. It’s a fair amount of paperwork but very much worth your time. If you like the 80/20 model then your time spent managing savings and buying a property definitely falls in the 20% section.

Note: While property prices can be volatile rental rates are fairly consistent and usually creep up around 4-5% a year. So as long as you are using the rent to cover the mortgage with some positive cash flow then you don’t need to worry too much about short term fluctuations in the property value.

Years 6-9: Better conditions, second income stream and second property purchase.
By the start of your sixth year you should be earning a bit more due to extra experience, better paying school and/or perhaps a promotion of some sort. Also if you have five years IS experience, are in your second (or third) year at your current IS and you are well on top of your classes you may be able to develop a second income stream. One straightforward and above board approach is to become an IB Examiner, which will top up your savings a bit. Another potentially more lucrative area is tutoring. I began tutoring in my fifth year in international education and earned/saved an extra US $15 000 a year for three years. I gave it up in my eighth year as it means working more evenings and weekends and I had got what was needed from it.

Your aim is to save another US $80 000 to US $100 000 (in today’s money) and purchase another buy to let property valued at US $350 000 to US $400 000. Again regular saving needn’t feel like a huge sacrifice because many IS offer very good saving potential through some fairly simple lifestyle choices. You should be an accomplished saver by now and your self discipline in this area may help in other areas. Having already purchased one investment property then you should find getting financing and buying the second one somewhat easier. You should be able to use the same lender and the paperwork requirement will be the same or lower then the first purchase.

Years 10-12: top level conditions and third (and final) buy to let/rental property.
Going into your tenth year at an IS if you have done your job well and not been unluckly with line managers you should find your pay and conditions again somewhat improved with a good benefits package that covers a spouse and 2 dependents.
The final push is to keep saving US $20 000 (in today’s money) and get ready to buy your third investment property. For this one you only need to save half a deposit because the other half should come from remortgaging the first property which has now appreciated somewhat over 7-8 years. The 30 year and 99 year UK/USA average for property increase is around 5-6% so if the first property was brought for US $350 000 then 7 years later it should be worth US $500 000. So you can remortgage it and release significant equity. Also if the initial rent was US $1500 a month it should now be around US $2 000 a month – so some of the rental income can go towards your third (and final) deposit.

Where you stand after 12 years:

Teaching Package (step 10-12 plus one management allowance)
Base Salary+Bonus: US $55 000 gross = US $38 000 net.
Accommodation Allowance: US $15 000 / yr net.
Free Tuition for 2 dependents: Value of US $ 40 000 /yr net.
Other Benefits combined (Flights/Insurance/Allowances): US $12 000 (net)
Total net ‘equivalent income’: US $105 000.

Your 3 investment Properties worth $400 000 each (in today’s money) give you property investments worth US $1 200 000 (of which you own around 350 000 and the bank 850 000) these collectively should appreciate by about US $70 000 a year gross or US $50 000 net once you have paid capital gains tax (if/when you sell). Your rental ‘income’ should also be around $70 000 a year gross or US $55 000 a year net. So your total net gain in assets and rental income is US $105 000 a year.

Total net ‘income’ from package (105 000) and investments (105 000) is then 210 000. Any online salary calculator should tell you that a US$300 000 gross package gives you around US$210 000 net.

Once you reach this point, hopefully after a 12 year global adventure following some basic lifestyle guidelines, then you probably can scale back on savings and enjoy the fruits of your labor. A fourth investment property would, in the UK, push you into the 40% tax bracket on your rental income.

Mini FAQ:

The model is flawed as you assume 5-6% house price increase and 4-5% rental increase
Every year centre left and centre right governments print lots of money, inflation is really just another form of tax and in life taxes are certain. Centre right governments also have additional policies which are friendly towards stock market prices and house prices. Centre left governments print even more money to invest in schools and hospitals which in the long run causes more inflation. Governments tend to want house prices to slowly rise due to the ‘wealth affect’ and do not want large falls in house values. Young people unable to buy a home (or use their parents money to buy) are only 10-15% of the electorate. Also both centre left and centre right think tanks accept that immigration is a net benefit to an economy. So as long as young people from around the world want to go to college (or work) in the UK or USA and some of them stay then there will be a steady increase in population.

You can’t count free tuition, increase in house prices and rent as ‘income’.
If your kids can go to a very good school which would normally charge US $20 000 (or more) a year from your net income then you could consider that a benefit of equivalent value. Businesses certainly do when advertising a 'package. If you own a house that increases 50 000 then if you sell it you can pocket 40 000. If someone else is paying US $1500 a month towards a mortgage of a property in your name then that is US$1500 that you don’t have to pay. The UK government last year changed it’s stance to consider rent to landlords as personal income.

It’s all a bit ‘evil’ – guardian readers wont’ like it.
If you can’t beat’em join’em. Also by increasing your worth you are going to pay significantly more tax, some of which will be used for good causes. Money you send home from abroad will ‘flow’ around your home country, so each US$100 you send home is worth US$400-$500 to the local economy. Being financially independent will mean you pay into the system not take money from it and may mean you don’t have to teach rich kids for the rest of your career. Later on you could teach in an inner city school or a school for children with learning disabilities, giving it your best shot knowing you don’t really need the money. Alternately if you are a manager you can try to take a positive approach again knowing that you don’t really need the extra money.

You can’t work abroad and buy a property back home.
Yes you can.

Managing savings and buying properties sounds like quite a lot of work and 12 years feels like a long time away – is there a plan B?
Yes –marry another IS teacher.
Definitely not a plan B – signing up for a plan with an international expat pension or life assurance provider which gives you a glossy brochure showing middle aged or retired people on a boat or beach is definitely NOT a good idea. These guys chop 1-2% a year off your hard earned savings which devastates the long term value of your savings/retirement fund.
What about Index funds – I am coming at this from a UK/personal perspective and have gone down the route of buy to let (rental) investments. Index funds in a low cost low tax scheme may also work.
What about money in high interest accounts – Getting 5% from a cash account means 4% after tax which means your savings are only matching inflation.

This is really a general investment plan, not specific to IS teachers.
IS teachers regularly are able to save US$15 000 – US$ 20 000 a year. People working back home regularly are able to save US $ 0 a year (though they usually do get a pension).

Have you followed this plan yourself?
No – I didn’t really save the first 4 years but then matured/wised up a bit and in my 13th year teaching am in year 10 of this plan. What’s above is a best case scenario.

What about age?
The younger you start the better – this cannot be overstated. However a 12 year plan should still be achievable starting at age 50.

Any further reading?
You could try Rich Dad Poor Dad (the poor dad is ironically a teacher), The Barefoot Investor or similar books . The millionair next door is also worth a look. You should also read up on tax law in your home country.

Should I take financial advice from forum posts?
Probably not – but you could use it as a starting point for further reading.
by mathphyschap
Thu Apr 28, 2016 2:30 am
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: One tale - From ESL to Tier 1 IS
Replies: 3
Views: 6439

One tale - From ESL to Tier 1 IS

Meandering tale of shifts from teaching ESL to Tier 1 ITS, possibly of use to some (or none).

ESL with CELTA:
In my final year of university I decided to go travelling for a year or two before settling down. I planned to go to Japan to teach English through the JET scheme but decided to go to China instead as I had friends already there. I completed a CELTA and emailed several universities in China and got a job teaching a second tier city. The students were hard working and very respectful and the job low stress. There were 16 other foreign teachers and 20-30 foreign postgraduate students from the Europe/North America and overall a pretty good social life. The pay was low (US $500 /month net) but so were living costs.

Tier 3 with relevant subject degree, some teaching experience and being in-country:
I quite enjoyed my year in ESL, but with college loans to pay and wanting to travel more I needed a job that paid better. I applied to several Chinese High Schools which had international departments and got a job fairly quickly teaching A-level Physics. These schools prefer teachers with teaching qualifications (certification) and two years experience but will take those with a relevant subject degree and some teaching experience, especially if you are already in country. My new job was largely teaching students going abroad to avoid failing the Chinese university entrance test, but they were still fairly hard working (by UK high school standards) with few discipline issues. I was paid US $3000 a month net plus a reasonable housing and flight allowance and able to save quite a lot.

In the tier 3 school most of my colleagues had formal teaching qualifications/certification from the UK/USA/Australia while I didn’t and from time to time there was the odd comment about uncertified teachers in the school and occasional ‘advice’ that I wouldn’t be able to teach in a proper international school. At the same time I did have an Engineering degree from a decent UK university so I was also getting other advice from former class mates to go back home to return and enter the profession. At 27 years old this was my quarter life crisis – what to do? Was I under qualified to teach? overqualified?

I ended up using money as the sole criteria to make a decision. I read up on pay and conditions as an Engineer in the UK and compared against tier 2 international schools and somewhat to my surprise …..tier 2 international schools came out on top. I could go into detail but in brief I was already saving 10 000 RMB (US $1500) a month in a tier 3 IS and life back home is way more expensive it would probably take 10 years to get back to that point. Just the saving of not running a car really adds up over time. Through the power of compound interest (I assumed a mere 6% return) IS worked out more, even before factoring in ‘free’ education for two children.

(I should say Engineering in the UK pays a bit less than in the States and I did factor in pensions).

Tier 3 to Tier 2 (or a better Tier 3)
I decided to try for a decent IS post within 3 years. I was able to get a job in a ‘top’ Chinese High School (International department) where I could teach IB. I secured the job with a relevant subject degree, 4 years IGCSE and A-level experience and undertaking to complete a PGCEi while at the school. Being in-country and teaching math/science may have helped as well. I signed up for a PGCEi with one of the main UK providers (one that does require two teaching placements).
While doing the PGCEi I got more ‘advice’ from colleagues that it wasn’t a proper PGCE and probably wouldn’t be accepted anywhere good. Furthermore for my first big assignment I did a lot of reading and wrote what I thought was a fairly sophisticated paper on the lack of quantitative evidence for progressive/constructivist methods in math education – big mistake, I failed the paper and had to rewrite it – never ever ever question progressive teaching methods while doing a teaching qualification. For the rest of the PGCEi I said everything expected (assessment for learning, differentiation by 12 different means, using reflective qualitative - rather than proper data etc) and passed, though it was a surprising amount of work.

Tier 2 (or upper Tier 3) to Tier 1.
With my PGCEi, 2 years IB experience and 4 years CIE (A-level) experience (but still an unqualified teacher as I didn’t have UK QTS) I began applying for jobs in different international schools through TES and by signing up with several free agencies. I planned to use search associates but was pleasantly surprised at how effective the free agencies (see www.guardian.co.uk) were in getting interviews. I was offered a Skype interview at a school in Singapore quite early on, it was a position I really wanted and spent a lot of time reading up, but slipped up on a couple of pedagogy questions stating that we should consider why the UK is bottom of OCED league table for secondary maths and probably shouldn’t be looking to increase studentss screen time in lessons. The interview was politely terminated early. Never ever ever question progressive teaching methods in a job interview, especially if you are going into it with a PGCEi rather than full PGCE.

Teaching in Tier 1.
I did however secure a position in a different school which regularly features on tier 1 lists on this forum without having to join search associates. The position came through one of the free agencies. The PGCEi worked fine for me (though teaching Math/Science again may have helped). I worked hard on my resume to use the right buzz words and did read up on hot topics (inquiry based learning, individualized learning etc) and eventually got my interview answers right. I was recruited towards the end of January and got the feeling I was a replacement hire for someone that dropped out. I did though have several other interviews lined up and think if I hadn’t got that position one of the others probably would have come through.

For me teaching at a supposedly tier 1 school is not an easy job, I only really have free time from about 6pm-8:30pm most weekdays and on Saturday. I do though enjoy most of my lessons and involvement in extra-curricular activities.

What I also find quietly amusing is that coming to teacher training later in my career I was able to take what I needed from it and it seems I regularly get much better external exam results than my fully qualified colleagues, but I think I will leave that for another post.
by mathphyschap
Tue Nov 10, 2015 7:29 pm
Forum: Forum 1. From Questions About ISS & Search to Anything and Everything About International Teaching
Topic: AMI Montessori Diploma (3-6) for Trailing Spouse?
Replies: 3
Views: 6021

Re: AMI Montessori Diploma (3-6) for Trailing Spouse?

And just in case any kindergarten/reception teachers read this far when I initially wrote 'I wonder if kindergarten qualifications count as qualified teacher' that was a dumb typo on my part. I meant specifically the AMI Montessori diploma