When I first moved to China I was schlepping in the FT university pool before landing the job that I've stuck with for the last few years. I am no longer being paid by locals, nor am I paid in local currency and I travel to universities and colleges affiliated with the foreign education concern that employs me. I get to know some of the full time foreign teachers toiling away at these schools and we talk shop. Being removed from the situation a little bit, here's what I have noticed.
The average monthly earnings foreign teachers of English are receiving for 16-20 hours of classes hasn't changed in five years. The number of hours for a baseline offer have gone up to meet the increased number of students being squashed into schools. Schools are making more money because more students are being accepted. Salaries and benefits are no longer rising with inflation, student head counts, nor with the demand placed upon foreign teachers by way of class hours worked. Instead of an air ticket to a foreign teacher's home, everything from fuck-awful 4000 RMB to antiquated 6000 RMB remuneration has become a norm. The crooked foreign affairs people claim to the foreign teachers that is how much it costs for them to fly home, but of course the foreign teachers know that to be a deliberate lie. Everything being offered is stuck in 2007.
I suppose an argument can be made that salaries were overinflated back in the day and now it's all catching up. Tough titty. Some foreign teachers of English will brag about their "great salaries," but much of that's a pissing contest of hubris. The number of employment opportunities online outnumber the number of fat salaried jobs available, so let's look at what is there versus what people like to brag about (often bollocks). Those jobs are not readily available and it takes time to find them, or as I can personally claim: it takes time until they find you. I am in the minority. The truth is that salaries have not mirrored local inflation and increased demand placed upon foreign teachers of English.
I have been happy that I got out of that rut, but I have contemplated returning the fold for a semester because I am suffering chronic fatigue from having to travel so much. What I see being offered convinced me to stick with what I've got. Unless you're a pensioner who will take shit wages because this is some kind of exotic Cocoon-style twilight years adventure; they keep things muddy for people who are here to establish real careers. The market is a bit grim right now.