I’ll go into detail, but the short answer is that it totally depends 😊
I have been accepted to be a participant for this year’s CIEE Teach in Spain program (in the interest of full disclosure), but I don’t work for the company or anything, so hopefully you’ll view this response as relatively unbiased.
For what I wanted out of teaching English in Spain, CIEE isn’t a rip off at all. As an American, getting a legal job teaching in Spain is quite difficult and I wasn’t willing to take the risk of working under the table (no contract rights, minimal job security, etc). There is a program through the government of Spain that does nearly the same thing for free http://www.mepsyd.es/exterior/usa/en/programs/us_assistants/default.shtml and that can place you in any region in Spain, but to me, there were some drawbacks there, as well.
First, while you can choose your region, you can’t choose your city (with the exception being Madrid, where nearly all placements that I’ve heard of within the region are very close to Madrid proper)...which, to me, sucks. I’m more partial to living in a a certain type of city (a big city versus a super small town, etc) than where exactly that city is…and in having seen my fair share of super depressing Spanish towns in Castilla, the thought of possibly being there for 9 months was kind of scary. With CIEE, they don’t make guarantees, but you can at least pick three cities, rather than whole regions.
Secondly, I’ve read a couple of horror stories about schools not paying their conversation assistants in a timely manner through the government program. While I’m sure this is not the norm, reading those stories really inspired me to want to have the support of an American institution to be a third party mediator should something like that happen to me.
If you’ve lived in Spain before, the program is only $850, which really isn’t that bad. On every site I’ve researched on going it alone, it’s recommended that you have 5K in cash saved up before you really get going. To be able to pay some of the expenses up front to have a guaranteed job is (at least, to me) worth not having the stress of wondering when you’ll find a regular job.
Also, the 700 Euro salary isn’t much, but in Andalucia, it’s enough for room, board, etc. plus a little extra for fun. Also, that 700 Euros comes every month (so no half paychecks around Christmas time, for example) and is only for 12 teaching hours a week. On an hourly basis, that’s not a bad pay scale at all…and there’s plenty of time to give private classes to augment income.
So…if you are risk averse (like me) but still want the adventure and experience of teaching English in Spain and aren’t lucky enough to have an EU passport, I don’t think CIEE is a bad way to go…at least from this end of it. I’ll let everyone know if I end up hating their program!