I'm looking into the possibility of becoming an English teacher in Vietnam but I have a couple questions that I hope can be answered.
Is anyone here familiar with Teaching English as a Foreign Language (TEFL) certificates?
I teach English as a second language as a career. I've been doing it for about 8 - 9 years now. I started doing it overseas (Russia, Spain, Kazakhstan) and now I do it full-time in the U.S. I'll address some of your questions below, but if you have more questions feel free to ask.
TEFL certificates vary WILDLY and there is no real control or oversight of them. My advice would be to spend the extra time and money and get a CELTA. A CELTA is head-and-shoulders above any other TEFL certificate, and it is pretty much the internationally recognized standard in every country but the United States and Canada. If you have a CELTA, the entire world opens up to you. I have a CELTA, and I'm in the process of becoming a CELTA trainer myself, so if you have any CELTA-specific questions, let me know.
I have heard finding a teaching job is like being a kid in a candy store, but I didn't know even beginner jobs would pay so well. I plan to find a job before I leave the US but I'm terrified of being offered a job that pays the equivalent of $15USD per hour only to have them say "Oh, we're only giving you $5 per hour" when I get to Vietnam. As for the living conditions (and expensiveness) of living near Hanoi, I've already decided to live in southern Vietnam near HCMC; mainly because I've been told by several native Vietnamese that they are generally less rude to foreigners but I believe it's also slightly cheaper there.
Kind of going back to my previous point about getting a well-recognized TEFL cert, the more credentials you have, the more opportunities you'll have for better schools. All English schools are NOT created equal, but by sticking with some of the well-known ones, you can pretty much guarantee at least a certain level of professionalism. For example, International House is based in England, and they are good about being professional, honoring contracts, and paying livable wages as a result. Another solid one is The British Council. You could also find a chain of schools that is local to the region you're going (in your case, Vietnam). You're more likely to get a good salary and reliable professionalism from a chain of schools that is used to dealing with foreign teachers as opposed to a single mom and pop school where you might be their only foreigner.
The necessity of a bachelor's degree was one of my biggest concerns, thank you. Are you able to comment on the kind of wage differences a new expatriate can expect while holding a bachelor's degree plus TEFL (TEFL is a required document for all intents and purposes) vs someone just holding a TEFL?
Also, I've been reading up on different versions of TEFL; Do you know what kind of differences (when looking for a job, in rate of pay, etc.) I should expect with a CELTA certificate vs a TESOL? Those are the two TEFL's I am most likely to choose between when I start taking classes here.
As long as you're working for a reputable school, you will make at least a livable wage for the area you're in. Schools that trick people into coming and not honoring their contracts don't last long, because people just hop back on a plane and leave. Like most jobs, the more credentials you bring to the table, the more money you'll be able to negotiate. If you have just a TEFL certificate, you will probably have trouble finding a job at truly reputable, international English schools (International House, British Council, etc.). If you have a TEFL cert and a bachelor's, more doors will open, and you'll be able to command a (slightly) higher salary. A CELTA + a bachelor's degree (especially if that degree is in a language-related field) and you pretty much have all the bargaining power in the world.
One important thing to find out when looking for a job is whether you have to pay rent yourself, or an apartment is provided for you as part of your package. Obviously, if an apartment is provided for you, you can get by with considerably less salary. On the other hand, if you're expected to pay your own rent and utilities, you'll need to make sure that you're going to have enough money left over to live comfortably each month. Personally, I'd never go with a school that didn't provide an apartment for me. I know people who had to pay their own rent (although they received a stipend each month) and they ran into headaches of rent increases and dealing with landlords. That shit is hard enough in your home country, so imagine it abroad.
Any other things you guys could say to quell my fears of literally moving to the other side of the world would be appreciated.
Before signing a contract with any school, shoot some emails to some of their teachers. You can simply ask the hiring person for contact information. If the school is reputable, they won't mind letting you talk to some of their current teachers. If a school ever declines, abort! That's a HUGE red flag.
Don't worry about taxes. The chances of you making enough money (especially working in a place like Vietnam) for it to be an issue with the American government is practically zero.
Learn some of the language before you go. Knowing even a little bit can make the first days and weeks SO much easier. Don't be one of those typical teachers who shows up in another country knowing only English.
If you decide to get a CELTA, a good option is to do your CELTA training in (or near) the country where you eventually want to teach. Not only will this be good cultural exposure and let you sort of stick your toes in the water, it can also give you some great networking opportunities. For example, I did my CELTA in Spain, and several people were able to get jobs teaching there immediately after finishing their CELTA.
Keep in mind that a lot of schools view you with the same risk that you view them. They don't know you, and they don't know that you're going to honor anything you say. They could go through all the signing paperwork, government issues, etc., only to have you be like "Nah, gonna pass after all. Peace out!" via email a day before your arrival. Don't take things personally, and remember it's all business.