The company I want to work for charges $790 for a 9-session (27-hour) online course. That comes out to almost $90 per session, i.e., almost $30 per hour. If that's roughly the market rate for GRE tutoring, I'm in trouble if I want to try tutoring privately. I had been hoping to charge around $50-$75 per hour. MGRE can charge cheap hourly rates, I suppose, because many students sign up for each session, thus justifying paying the teacher $100/hour.
Hmmm. Starting to wish I'd taken business courses.
UPDATE: This means that, if a class has 20 students in it, the students are paying the company a total of $600 per hour, of which $100 will go to the teacher. $500 an hour for the company-- not bad. Multiply that times 15 teachers on staff (that's just an estimate), assume they're all teaching at the same time, and that's $7500 per hour for the company. A single 3-hour day of class thus brings in $22,500 for the company; multiplied by 9 such sessions, we get $202,500 for 9 weeks' work. And that's just one course.
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Maybe the answer is that yes, you are charging more per hour, but are giving guaranteed one-on-one service. So, pay $30 to them and be put in a class, or pay $50 to me and get my full attention for the entire time.
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