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Old 13th November 2014, 04:12 PM   #1 (permalink)
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Meet the millionaire tutor

Meet the millionaire tutor



Theresa Tan
The Straits Times
Tuesday, Nov 11, 2014


SINGAPORE - Mr Phang Yu Hon, 47, is a tuition millionaire and shows his income tax records readily to prove how much he earns and what he pays in taxes each year.

It took just two years for him to double his income from about half a million dollars in 2009 to $1 million in 2011.

All from teaching physics, and mostly to students from top schools such as Raffles Institution, Hwa Chong Institution and National Junior College - many already doing well, but keen to make sure they continue scoring As.

Mr Phang runs physics.com.sg, and is its only tutor. He says the secret to his success lies in running group sessions for 30 or more students at a time, and doing it all himself.

That, and a reputation that has kept students coming even as his fees rose to between $380 and $720 for four two-hour lessons.

Mr Phang was candid in describing his income to The Sunday Times, showing his tax records.
Meet the millionaire tutor

He recalled the year his income crossed $1 million and he had to pay taxes of $186,000. "My heart ached when I had to pay my tax bills. I can buy a Mercedes-Benz (with that sum)," he said.

But he said he was happy to pay more tax because he was earning a lot more. "I never imagined I would be so successful. It is beyond my wildest imagination," he said.

The former Raffles Institution student graduated from the National University of Singapore with first-class honours in electrical engineering and started working as an engineer.

He was earning $4,000 a month in his last job as a consultant, but longed to be his own boss and tried several businesses, including a tuition agency, where he matched tutors with students and received a commission.

Although he never trained to be a teacher, he discovered he had a flair for teaching when he had to step in for some of his tutors.

In 1997, he started tutoring full-time. In his first year, he earned less than $10,000. But over time, more students came.

In 2002, he decided to teach students in groups, instead of individually. That was when he saw his income balloon.

By 2008, he was earning about $20,000 a month. A year later, his earnings doubled, and just kept growing. As his reputation grew, he raised his fees. The number of students doubled.

Over the past two years, his income was an average of $830,000 a year.

Mr Phang has about 200 students, and he conducts lessons in a Bishan shophouse, with about 30 students in each class.

He works about 40 to 50 hours a week - 18 hours teaching, and the rest preparing for lessons, writing assessment books and doing his paperwork.

About two-thirds of his students are from top schools, and most are from upper middle-class families.

"Some students are already getting an A, but they come to me to make sure they continue getting As. Others want to improve their grades to get an A," he said.

About 10 to 20 per cent seek coaching above their level in school just to challenge themselves.

One boy not from a top school is Raphael Loh, 16, a Secondary 4 student at Whitley Secondary.

He went to Mr Phang last year when he was scoring Bs and Cs in school. With tuition, he started getting As and found himself working harder on physics.

He said being surrounded by top performers in his tuition class also spurred him on. His tuition costs $400 a month.

Although he is sitting the O levels, he started taking tuition in junior college level physics this year out of interest. He won a silver medal at this year's Singapore Junior Physics Olympiad, a national competition. He was the only neighbourhood school student to win a gold or silver medal.

Raphael said: "I was not motivated to study previously and I didn't pay attention in school, so my grades suffered. But as my parents paid so much for tuition, I would be wasting their money if I didn't pay attention during tuition."

$1,000,000 earned in 2011 $380-$720 in fees for four 2-hour lessons $830,000 average a year in past 2 years 200 students in classes of 30.

Source: http://business.asiaone.com/hot-jobs...lionaire-tutor

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Old 18th November 2014, 01:31 PM   #2 (permalink)
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Re: Meet the millionaire tutor

What's his teacher-to-students ratio?

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Old 23rd November 2014, 08:13 AM   #3 (permalink)
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Re: Meet the millionaire tutor

That's a lot of money.

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Old 24th November 2014, 10:38 AM   #4 (permalink)
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Re: Meet the millionaire tutor

Wow..i should be a tuition teacher too in the future then!

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Old 24th November 2014, 02:36 PM   #5 (permalink)
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Re: Meet the millionaire tutor

Originally Posted by acadapter View Post
Wow..i should be a tuition teacher too in the future then!
for every 1 of these millionaire tutors, there are a 1000 broke tutors

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Old 24th November 2014, 03:32 PM   #6 (permalink)
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Re: Meet the millionaire tutor

Originally Posted by Benson View Post
What's his teacher-to-students ratio?
I think they mentioned in the article, 30 students at once.

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Old 5th December 2014, 03:51 PM   #7 (permalink)
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Re: Meet the millionaire tutor

Originally Posted by timmyc View Post
I think they mentioned in the article, 30 students at once.
And I believe that's the typical class in a normal school.

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Old 10th December 2014, 08:01 AM   #8 (permalink)
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Re: Meet the millionaire tutor

Originally Posted by acadapter View Post
Wow..i should be a tuition teacher too in the future then!
Its not as easy as it seems. For not only do you have to know your syllabus very well, and keep yourself updated with changes, but you also have to prepare materials, keep track of each student's progress and not to mention work irregular hours (i.e. weekends and weekday nights)

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