Hey there friends! Today we are going to talk all about the new Incentive Tiered pay system for new VIPKID teachers. This system will be for teachers that have passed their demo after December 2019. As of right now, teachers who have been hired before that are on the old system (explained in this post).
As a VIPKID you should know that you are not paid an hourly rate. This can be confusing but VIPKID wants to encourage both quality and quantity in its teachers and this new system is a great motivator of both. Your pay check is broken into two parts: class base pay and bonuses.
When you apply to VIPKID part of the process is passing your interview. Depending on how well your interview goes plus your education and experience will determine your class base pay. It will be between $7-9 per class.
This will be total classes you have taught while teaching for VIPKID. The more classes you have taught in your lifetime, the higher your incentive rate. This Lifetime Class Bonus is the same for everyone until after you teach your 40th class in the month. Then it goes up with the higher number of classes you have taught.
This is the rate you are paid for the different range of classes taught. This can be a bit confusing so stay with me. You will get paid a different rate for each range of classes taught.
Now time for math! YAY! (I'm probably the only one who is gonna geek about about the math part, but that's ok).
Example 1: New teacher, low bookings and low lifetime classes taught.
42 classes taught in the month and 0 lifetime classes taught. This puts this teacher in Tier 1.
Example 2: Intermediate Level teacher (moderate monthly classes and a decent amount of lifetime classes taught).
This teacher taught 972 lifetime classes and 94 classes total in February. Here is the breakdown with the Tier 5 incentives.
That's a $1.43 bonus per class! Nice!
This teacher has over 10,000 lifetime classes, so Tier 10 (she's been working full-time for 2 years) and taught her regular schedule of 200 classes this month. Let's see her pay bonus for the month:
That's so awesome! Per class that's a bonus of over $2 (more than the old pay system).
Hopefully these examples show you how over time and when you teach a lot of classes per month, you can really get a great bonus with these incentives.
If you want to apply to work with VIPKID click here to apply.
Any questions? Please be sure to email [email protected]. Now tell me, how are you going to spend that bonus money? I have a few ideas in mind....
Catch you next time!