Tuesday, September 28, 2010

Millionaire tutors in Singapore

I have thought that millionaire tutors only exist in Taiwan, but I was wrong. Recently, there were some articles in the Straits Times which mentioned many tutors in Singapore earning lots of good bucks giving tuition.

An insider in the tuition industry was quoted in the same article that he knew at least 5 tutors in Singapore earning up to $1 million annually! There was a famous Physics tutor by the name of Phang Yu Hon, who earn close to $60,000 or more monthly!

A mother, who has switched from a full-time teacher to tuition teacher reported earning $15,000 per month while enjoying a cut in the number of hours put into the work.

I think with such good money, the prospects for tutors in Singapore looks promising. However, one must always take into view that such top-earning tutors could only be a handful with the stiff competition in the saturated tuition market. The same principle applies to the real estate industry whereby competition is stiff and getting stiffer with the myriad number of new rulings.

True, there are some real estate agents selling a Sentosa Cove bungalow for $20 million, pocketing a 2% commission of $400,000 instantly and becoming $400,000 richer. By selling another few such high-ended bungalows, he or she become multi-millionaires very soon enough.

In every industry or sector, there can only exist a handful of star performers, maximum 10% of the cohort, while the rest will be mediocre.

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