Teach English in China: Financial Snapshot
Salaries for teaching English in China have an extremely diverse range of ¥4,500 to ¥16,000 a month; therefore, ESL teachers will want to consider the additional benefits included in the contract, as well as the cost of renting apartments and buying food in China before making any financial commitments. Your Oxford Seminars Job Search Advisor can help you determine the quality of contracts as they vary greatly in this country.
In some instances an ESL teacher may not have accommodations included with their new job. This may not be a concern for some and it usually means the teacher will earn a higher salary than those whose housing is provided to cover the additional living expenses. The price of housing is very affordable in China and that includes apartments in major Chinese cities. A nice apartment in a central location of a major city will cost roughly ¥7,000/monthly.
Setting up a bank account in China is a fairly easy process, as most banks will be happy to help out. In order to set up a bank account, bring a valid passport and current contact information. Banking in China is much like in North America; there is 24-hour ATM access and many banks offer online banking to their customers. Most bank accounts include an ATM card, but it is hard to get a credit card attached to a new bank account. In addition to going to the bank to set up an account, a bank is a great place to convert foreign currency into Chinese yuan.
Much of the grocery shopping in China for fresh produce and meat happens at the street market. This can be an exciting place for new English teachers in China as it is not uncommon to see an item with no price information on it; this is usually a ticket for some bartering. It is now fairly easy to find supermarkets in larger cities, but beware: although they may be more convenient, these stores can be much more expensive than the market.
Below are some examples of typical Chinese food prices.
1 kg of tomatoes
1 kg of raw chicken wings
1 kg of pork
Quart of strawberries