Estimated earnings are displayed on your teacher stats dashboard to give you more insight into what to expect in your PayPal account on the 16th of each month. You’ll see two types of estimated earnings: estimated royalty earnings (for the minutes watched in your classes) and estimated referral earnings (for the students you refer to Skillshare through your referral links). In the first half of a given month (the 1st through the 15th), the dashboard will display your upcoming estimated earnings to be paid on the 16th of the month for the previous month’s activity. In the second half of a given month (the 16th through the last day of the month), the dashboard will display your estimated month-to-date earnings based on the current month's activity. Learn more about how estimated earnings are calculated here.