Make Money on Udemy: An Amazing Opportunity for Teachers
Udemy offers a truly exceptional opportunity for instructors. In short, you can make money on Udemy by creating on demand online courses on anything imaginable.
Put together and teach your course once; If it’s well-received and otherwise successful you can get paid for that class again and again!
Here is more about Udemy from their website:
We’re the world’s online learning marketplace, where 9 million+ students are taking courses in everything from programming to yoga to photography – and much, much more. Each of our 35,000+ courses is taught by an expert instructor, and every course is available on-demand, so students can learn at their own pace, on their own time, and on any device”
Before you get too excited please consider some of the drawbacks. This would not be a fair review if we didn’t go over some of the difficulties for instructors using who want to make money on udemy by selling online courses.
First, putting together courses takes a lot of time, in terms of both planning and production. You also need to have the proper equipment, and be comfortable speaking on the camera/behind the microphone. If you are shy or not willing to put yourself in front of the camera, Udemy might not be for you.
Can I Really Make Money on Udemy? How Much?
One final point, but not really a drawback is that unfortunately the Udemy compensation model is not as lucrative for instructors as it once was. Teachers who got in early were making a lot more money (90% across the board per course!) before Udemy changed its compensation structure multiple times, currently the structure is as follows:
About the instructor revenue share
Udemy operates under a tiered revenue share for paid courses. As an instructor, the two main revenue share scenarios that you can expect most often are:
Instructor Promotion → 100% revenue share (less a 3% administrative processing fee, 4% in the territory of Japan) on sales made by instructors where the student makes the purchase using an Instructor Coupon (either at full price or at a discount), which you the instructor create and control.
Udemy Organic → 50% revenue share on organic Udemy sales where no Instructor Coupon is used.
If you’re opted in to any of our marketing programs, e.g., percentage promotions, fixed price deals, and the marketing boost program, your revenue share can range from 25% to 97% depending on the scenario.
So, basically, you will make somewhere between 25-97% of your course fees, depending on the scenario. In general, if Udemy is promoting your course for you, it will be on the lower end. If you promote your own course you can make 100% – the administrative fees. If you’d like a complete breakdown of what you can make, see the chart on Udemy’s site here.
Udemy claims that the average instructor income is $8000. Not bad, right?
Some make less and some a lot more. Case in point: Jerry Banfield.
Jerry has earned over $300,000 with the Udemy platform, averaging over $6,000 per course he creates!
Jerry is truly an awesome instructor. As one of his students said:
“Jerry’s instruction is the perfect balance of passion, intelligence, proof of experience,
and calculated determination. He is a machine for success and helping other build the
successful lives that they have always dreamed of.”
If you are going to give Udemy a try, I highly recommend that you consider taking Jerry’s course, “The Complete Udemy Instructor Course”. This course will give you a great foundation as well as the tools and the knowledge you need to get started making money with online course creation. It features no less than 84 lectures and over 10.5 hours of class time!
Learn more about Jerry’s course on how to make money on Udemy HERE.
With over 9 Million students utilizing Udemy, more instructors are needed! I hope to see your course(s) there soon!
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