Statistics show that, despite getting a bad reputation for being a difficult industry, wages for music workers are generally higher than the median annual wage for all workers, which was $35,080 a couple of years ago. Whether you’re aiming to become a professional producer or a film and television composer, making a living in the music industry is tough to do. That is unless you understand how to capitalize on your strengths and craft a smart business strategy that will allow you to earn more than you put out.
To become successful in the music industry, it’s important to first define what that even means to you. If success simply means being able to make a living, your goals will look a little different than if you view success as owning your own studio or working with particular artists. It helps to write down long and short-term goals that fall into the categories of professional and financial. Define your creative goals and find a way to make them work with your long-term financial goals without losing sight of what’s truly important as you build your career. This applies whether you’re looking to get a job or go solo and work as a freelancer, as do the following tips regarding resumes and budgeting.
Amp Up Your Resume
While the music industry relies heavily on connections, it’s important not to forget the issue of having an impressive resume on hand when you need it. If you’re applying for studio jobs or looking to work as a tech at a large theater or film company, you’ll likely still be asked for a resume and it will play a big role in showing off your experience and background. A music industry resume will look a little different, however, than a corporate one, and will likely highlight things such as the teachers you’ve studied under, the specific musicians you’ve worked with or the number of hours you’ve worked as a studio artist. In your resume, it is important to highlight the software and technology you have learned how to use as well as the masterclasses you have taken that apply to the specific position you’re applying for.
Learn How to Set a Budget
When you’re just getting started out in any career path it is important to learn how to create and stick to a budget. This is especially true when starting out in the music industry. Crafting a smart business strategy in the music industry includes setting a budget for travel expenses, maintenance, and social expenses if you’ve got them. Focus on sticking to the 50-30-20 rule, which is a practice in which you put 50% of your entire budget towards only the necessities, 30% towards wants and the leftover 20% towards savings or debt payments. This should help you establish economic stability as you move up the ranks in order to save and invest in your career as you wish.
Crafting a long, lucrative career in the music industry takes hard work, just like in any other industry. Setting clear goals for yourself, developing an impressive resume and learning how to stick to a budget will serve you well early on in your career and will allow you the space and peace of mind to pursue artistic opportunities as they arise. Stay positive, focus on your craft and continue to learn as much as you can and you’ll find yourself attaining whatever form of success you want.