Pricing is always an important factor in the success of any business and online tutoring is no different. When starting out, it can be hard to know just how much you should charge for your time and expertise. Given the fact that there are no set standard rates for online tutoring, prices can range widely. With this in mind, we've written this short blog post to help guide you in how much you should be charging.
Research conducted on the tutoring industry in the UK suggests that the hourly rate for an online tutor ranges between £15 and £45 per hour.
When aiming to set your price, some things to keep in mind are the amount of experience you have, the level of your qualifications, and the demand for the subject that you teach. With regards to how much experience you have as a tutor, a general rule of thumb for pricing is the higher the number of tutoring hours you’ve gathered throughout your career, the more you're able to charge.
When it comes to qualifications, the level of your qualifications will affect how much you are able to charge. For example, a person with a mathematics degree may often charge more for their services than someone who has just done A-Levels in the subject.
Another point to consider when setting your prices is the demand for your subject area. A tutor teaching a very popular subject, such as English Literature will generally charge less than someone teaching more niche subjects like Quantum Physics or Financial Modelling. As well as this, it is also worth considering how complex your subject is. Some subjects require a lot more preparation than others and demand a higher level of knowledge and expertise to be able to deliver lessons on it, and because of this, tutors often charge higher.
Group Lessons are another option to consider. In this case, since you are teaching more than one student at a time, the price charged per student is less than if the lesson were one-on-one. The general rule here is that if it's a group of two, then your rate should be between £15 to £25 per hour; if there are three students in the class, about £12-£18 an hour and groups with four or more members generally charge around £11-£17 per student. This helps to keep a healthy balance between what the tutors are charging and how much their students can afford to pay.
Finally, we do highly recommend that you conduct your research to find out what other tutors are charging for online lessons in your subject. This way, you can get a good idea of the market rates and whether or not they are reasonable.
P.S. We at LessonWise offer an optimised infrastructure for a group lesson, thus allowing tutors to increase their income while making it more affordable for students!