The tutor who earned $520,000

[MarrickG]

PHANG Yu Hon is part of the booming tuition industry in Singapore. Last year alone, he earned more than half a million dollars (after expenses) as a full-time physics tutor.

According to the Department of Statistics, the local tuition industry was reported to be worth $820 million in 2008, up from $470 million in 1998.

In the same period of 10 years, 400 more tuition centres sprang up across Singapore, bringing the total number of tuition centres in Singapore to 500.

So what is causing such a great demand for tuition? Is it mere 'kiasu-ism', or does tuition really improve a student's grades? The lack of transparency in the industry makes it difficult to tell.

Koh Sheng Jie was graded Band 3 for Mathematics in Primary 4. That's just a pass. Post-tuition, his Maths grade improved to an A2 for 'O' Levels.

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_574581.html (See video here)

 

[Teo Kok Eng]

How much is he charging per hour?

Suppose he works a 40 hour week.

In a year there is 40 x 52 = 2080 hours.

He charges $520,000 / 2080 = $250 per hour.

Actual charge could be more since the $520,000 is after expenses, in reality he makes more than $520,000.

Would anyone pay for a $250 an hour tutor?

 

[fanta]

He charges $520,000 / 2080 = $250 per hour.

This is even better than a lawyer making money? $250 an hour is a lot of money.

 

[bryanlim1972]

i hope PHANG Yu Hon pays his taxes to IRAS. based on 500k, he should have paid 80k to iras.

either he is dam honest citizen (paid taxes already so can feel safe to how lian) or dam stupid (wan to how lian but never pay taxes)