Career paths and money
So, what career path can you expect in the music industry, and more importantly, what will you earn?
By Chris Cooke
What kind of career path can you expect in the music business?
Nearly everyone you speak to in the music industry will have got into the business in a different way, and will have had a very different career path. So, there is no simple answer to this question.
If you work for a big music company – one of the major record labels, music publishers or tour promoters for example – then there will be obvious career progression opportunities up the hierarchy of the firm you are with. Some people will stay with one record company for years, sometimes decades, and may ultimately have their own record label within the company.
That said, many people move between companies quite frequently in the music business, especially if you are working in areas like music PR or plugging, where agencies tend to be smaller so the opportunities to progress upwards are fewer. Because people move a lot, jobs come available frequently. Some jobs will be advertised in industry publications like Music Week or CMU Daily, but many music firms recruit from personal networks – people a company already know can do the job – so it is important to network with other music industry people even once you have your first job.
The various parts of the music industry outlined in our introduction here are quite autonomous – jobs tend to be very much focused on either recorded music, or live music, or publishing, or management etc. That said, it is possible to move between those sub-sectors, because A&R, marketing and PR jobs involve the same skills in each area. However, if you are working, say, in recorded music it is easy to completely ignore the other sub-sectors. If you see yourself working in those areas one day you need to keep up with what is happening in those companies, and network with people who work in them.
A lot of people in the music industry are quite entrepreneurial, so it is quite common for people to work for a bigger music company, but then leave to set up their own independent label or PR agency or management firm. Some people meet artists through working for a label, get on with them and love their music, and eventually become their managers. Of course when people go down this route they have to be ready to take on general business management roles as well – ie run their own companies.
Money
So, who, other than Bono and Robbie and Justin and Madge, makes all the money in the music business?
Well, here is the bad news, many people in music are not that well paid – the logic being that, if you are a music fan, working in music is such a privilege you will do it for less money. Certainly people working in marketing or PR could earn much more doing the same jobs in other less glamorous sectors.
Pay is generally less at independent labels and smaller agencies, though some would say they are more rewarding companies to work for in other ways. A first job at one of these companies will probably pay between £12K and £18K a year, while a first job at a major record company will more likely pay between £18K and £24K. This isn’t a huge salary, especially given that the majority of music companies are based in London – living in the capital on £12K a year is a challenge. Though you will most likely get free CDs and gig tickets (certainly from the artists you are working on), so if this is what you spend most of your spare income on, you might be able to do it.
Actually, a lot of people’s first job in the music industry is on no money at all. Even the major record companies rely heavily on expenses-only interns, and on temps who are often not paid much more than the minimum wage.
But what about long term? Well, most people in the music industry will never have earnings on par with a city banker, but better salaries are available as you work your way up the hierarchy. And the bosses of the major record companies are very handsomely paid – especially in the US (where it is not uncommon for senior British record label bosses to end up).
Of course musicians and producers who ‘make it’ can become multi-millionaires, and demand huge fees just to get out of bed in the morning. Though it should be said that many artists who have enjoyed some success probably aren’t as rich as you think – a couple of hits won’t make the artist any money (the label takes all the money until it has covered its original investment) so they will rely on performance fees and the like to bring in an income.
This article is part of the unicornjobs.com guide to Working In The Music Business. Click here to go to the guide index.
