Well, whattaya know...it's back up!
When I visited the US 4 months ago the effective rate mere ordinary mortals (as opposed to major banks and exchanges who actually get those official rates) were getting was close enough to 6:1 to make it a reasonable guesstimate for these purposes.

$82 doesn't really affect the actual point all that much, really, but still it's good to insist on accuracy.

I have no money changer. That would imply that I have money. ;-{)

Sorry Smack, The standard example of the contract used by most schools/colleges/universities these days says 70% of the monthly salary in Yuan can be exchanged.
The easy way around any exchange difficulties however, is to take any one of your students into the Bank Of China and stand with them while they exchange your Yuan for any other currency US$, Euro, Pound Sterling, Aus$ etc. Chinese citizens are allowed to change Yuan up to the value of US$ 50,000 per year simply on production of their I.D. card.

The way the Yuan is rising and the US dollar falling in these hard times, it will soon be 1 to 1 with a bit of luck and we'll all be rich on our RMB salaries. (some hope ! )

I don't think Raoul Duke's example of $667.00 being equivalent to 4000 Yuan was meant to be an accurate guide for someone looking to exchange Yuan for dollars. It should be only deemed a rough guide used to compare the relative lifestyles of FT's in China on 4000 Yuan/month with employees in the U S on 667 US Dollars/month,in truth a difficult comparison to make accurately.
In any case,a FT teaching in China on 4000 Yuan/month would only be allowed to convert a maximum of 30% of his monthly salary into foreign currency, and only on a monthly basis at that.

Turino say, "you...have chosen one of the most looked down upon and lowly paid examples of MENIAL WORK."

It's a fair cop. I did. For more dramatic effect, maybe?

Anyway. The point I really wanted to make was that, already being aware of the definition of "menial", I would hate to see Teaching yield up a lifestyle equal to ANY menial job in our home countries. This would be true anywhere except perhaps some of those strife-torn jungle countries that the Peace Corps might send you to; it'd certainly be true in China.

It ought to be better. Being a teacher in China should, and from what I've seen DOES, let one live better than your "waiter in a fast food restaurant" back in our home countries. I didn't think fast food restaurants even HAD waiters these days, but still...

I think a lot of us here, no matter where we come from, sell ourselves too cheaply. Some of us are economic refugees; some of us are just really keen and excited to come to China and grab the first offer they get; some of us just don't know any better. A full-time teacher in a public school in a small backwater Chinese city ought to be getting more than US$667 (~4000 RMB) a month. China can be a cheap place to live...but not THAT cheap. And, I'd submit that most of us don't really come here to teach, we come here for travel and experiences and adventure and really wild things- and those take money.

I'd like to see a day when teachers- native speakers or not- start saying "NO" to some of these lowball salaries. Unfortunately, I don't think that day will come soon. Too many people either don't know or don't care.

BTW, I taught Business- Management, Marketing, etc.- not Business English...and the toll of the underequipped was perhaps even higher than it no doubt is in a language class.

Turino say, "you can live well compared to the lifestyle of Westerners doing menial work in the West."
And this sentence speaks volumes. "You can live better than the guys that clean the bathrooms in office buildings." ;-{)

Cobra say, "I think they mustnt pay attention to the passport ones hold and judge foreigners by the colour of skin etc., the most important fact is teaching ability, willingness to teach, working skills. why not to pay him what he deserves?"
I hear that. I with ya 100%. But unfortunately, it just doesn't seem to be the real world. Not in China, anyway. Of course some jobs are more serious, but an awful lot of places, including some publics and unis, really just want dancing monkeys. Preferably dancing WHITE monkeys...
Those graces we think of as part of education simply aren't always valued very much here. Every owner or manager will SAY those things are valued, of course, but in reality all too often they are not.

Cobra also say, "Full time job is mostly giving lectures..."etc.
I think Turino was talking more in terms of actual workload...hours spent at labor.

I had really different college teaching experiences than you guys, it seems. I've mostly taught regular-credit Business classes, and I worked my BUTT off. Heavy prep requirement, big lecture schedule, and endless tons of grading. All for a system where very few students spoke enough English to follow the lectures at all, and the degrees could simply be bought at graduation time anyway. It gets pretty depressing after a while...

I wonder how much money do you earn at school now. I don't think 3500 RMB. It's a good salary for chinese english teachers but not for foreign teachers. We are foreigners here and we are not at our own country. My chinese friend is an english teacher, he has been teaching over 20 years and he earns only 4000RMB and he says that its not enough for him. The prices on food getting higher day by day even in China. (eggs, meat, etc) I think a foreign teacher deserves higher pays. Regardless he is a native speaker or not, 5000 RMB at least.
see this site http://www.teachabroadchina.com/can-non-native-english-speakers-teach-in-china/
posted by filipino teacher earning 8500 RMB a month plus 150 yuan per hour for extra classes.

Full time job is mostly giving lectures,staff meeting and english corners including class preparation and checking home works.

I suppose it all depends what you call a full-time job.Where I come from, 16x45 minutes/week would never be deemed a full-time job by officialdom.
And so long as you're not a gourmet nor a whisky alcoholic nor a bar fly, you can live well compared to the lifestyle of Westerners doing menial work in the West.
I could go back to my homeland to teach high school math. But I wouldn't touch secondary school teaching in the West with a bargepole these days.Too much hassle with keeping attendance and teaching records,unruly pupils,longer hours in the classroom than in China, correcting students' homework after class,and paying house rent.Although I could earn more money there,its buying power would be much less.
Besides,regurgitating the same oral lesson 8 times a week to college students without having to correct written homework is a very good deal for 4-5000 a month for somebody without any formal teaching qualifications in the subject of English.I know there are many backpackers without university degrees teaching English here too who couldn't obtain a teaching post or other professional employment anywhere in the world except in the PRC.
As for the free accommodation,it's usually a flat of at least 80 square metres,more than adequate for a single person.
Having said all that,each FT has his own individual needs and priorities!

Cobra has posted:The only school agreed to recruit me and pay me at most 3500 RMB per month. How can i live for such money abroad? I must have meals and spend money on other things.
My reply:Doesn't he realise that most Chinese teachers of English, also non-native speakers like him,would be delighted to earn that kind of salary despite, unlike him, having to deduct rent from it?
Unless he's a crocodile, the cost of his meals shouldn't be a problem!But I have to wonder what 'the other things' he needs would include!
He should realise there are many native teachers of English in China living well off 4000 to 5000 RMB/month.