5 Things to Know About Money & Teaching in Madrid, Spain

ITA Alumna and Ambassador, Christina Bates, shares with us the top 5 things you should know about money and teaching English in Madrid, Spain. 

1. Can you make enough money to save and/or travel when teaching in Madrid?

Probably the #1 question I receive the most. The short answer is... yes but it's not much. The long answer… continue reading. 

2. Budget Breakdown

The budget breakdown below is based on a comfortable lifestyle in Madrid working an average of 20hrs per week making €15 per hour. Obviously, you can save more by cutting back on your weekly expenses or by working more hours… there is some room for flexibility.     

3. Private Tutoring

You can make more money if you want to work more than the average 20hrs per week. Typically you come across private tutoring by word of mouth or finding something posted on LingoBongo or a Facebook group. If you're new to the teaching game typically you can charge around €15 per hour but if you're more experienced and TEFL certified you can charge up to €25 per hour. All depends on your skills and what the student is looking for. However, keep in mind these classes are often infrequent and can end at any time. So don't rely heavily on your income from private classes.

4. Teaching Online

Many teachers often teach English online here in Madrid because it's easy money and the hours are perfect for this timezone. I don't personally teach online classes but my boyfriend does and he makes more than half of his income with it. He teaches almost full-time with VIPKid and he loves it.  

5. Unexpected Expenses

Save Before You Move:

Be sure to save at least 2k before you arrive, you'll want to be able to cover yourself for the first two months to get set up and start working. Keep in mind, they pay you monthly here and it's typically at the beginning of the following month.

Summer Months:

Also, don't forget about the summer months. Classes usually stop around end of June and you'll have July & August off without pay. So save wisely or you'll be eating ramen noodles and suffering in Madrid's summer heat. If you don't believe me, ask my buddy Jake lol

Visa Renewal:

Lastly, if you're a non-EU citizen who came on a student visa and plan to renew for another year. Start saving early, depending on which school you renew with you're looking at around €800 at least to renew for another year. 

Overall…is it worth it? 

If you're not looking to save a ton of money or you don’t have to pay off debt and want to experience the Spanish lifestyle, it’s 100% worth it but if you're looking to make some serious cash check out teaching English in Asia. I've heard in South Korea you can make double plus they cover a lot of the initial expenses like flights and housing.  Thanks for reading, I hope you found this useful.  

Read further: Pros & Cons for teaching English in Madrid.