For Better or Worse, Actors Need to Follow the Money

I love the 1972 film version of “Cabaret.” It was directed by the immortal Bob Fosse, and that guy knows how to stage a musical number. There are several great songs in the movie, but my favorite, without a doubt, is “Money, Money.” Is it any wonder I became an agent?

That might sound greedy or selfish, but let’s face facts: It doesn’t matter what you do in the entertainment industry. Having some degree of financial stability will always make your life easier. Actors who spend their lives doing nothing but waiver theater might be happy at heart, but they risk dying alone in a studio apartment surrounded by empty cans of cat food. The struggle to make a living doing what you love is real. 

That’s why I always advise clients to pursue several roads as an actor. Sure, everyone wants to do film and television, but I know a lot of performers who pocket a sizable chunk of change by working in commercials, voiceover, and other fields. 

During a one-year period, I had a client in his 30s who booked two guest star roles on network shows and a week on a studio film. Pretty good, right? Well, let’s do some math. Each guest star paid about $9,000, with another grand thrown in for overtime. So that’s a total of $20,000 for both jobs. The film paid scale, but the overtime was sizable, so that paycheck came out to $6,000. Now let’s add in another $6,000 for residuals. So, during a “successful” year, my client made $32,000 working in film and television, an amount that was taxed by the government and commissioned by yours truly.

Fortunately, this actor was smarter than the average bear. He also had commercial and voiceover representation. There were a few bookings there, nothing major, but they added $18,000 to his annual earnings. And he made another $6,000 doing a show at South Coast Repertory. That’s a grand total of $56,000, which is much better.

Do you see why it makes sense to explore every road that leads to Oz?

Money matters because the costs of being an actor are surprisingly high. People like me are always telling you to stay in class and get new pictures. And don’t forget to keep your website and reels current. And maybe you should hire a coach for that big pilot audition. And would it kill you to have a reliable car that doesn’t break down on your way to every audition?

Money makes the world go ’round, the world go ’round…

Here’s another consideration: As you get further along in your career, you will encounter opportunities that don’t appeal to you. For example, an audition might come in for a project or a role you just can’t stand. All you want to do is pass, but that’s not easy when you really need the money. Having a cash reserve gives you the freedom to say no without having to worry about the rent. 

Money should never be your primary goal as an artist, but you can’t ignore financial realities. And who knows? You might want to get married and have kids one day. So be smart and focus on all the ways an actor can make a buck. Trust me. The future will thank you.