According to the Bureau of Labor Statistics, the median annual wage for musicians was $32,160 in May 2020. The top 10% of earners made more than $113,120, while the bottom 10% earned less than $16,220.
Some of the factors that can affect a musician's income include:
* Success: Musicians who are more successful and popular will typically earn more money than those who are less successful.
* Experience: Musicians who have more experience and a longer track record of success will typically earn more money than those who are just starting out.
* Genre of music: Some genres of music, such as pop and rock, are more popular and generate more revenue than others, such as classical or jazz.
* Location: Musicians who live in major metropolitan areas will typically have more opportunities to earn money than those who live in smaller cities or towns.
In addition to the above factors, musicians may also earn money from other sources, such as:
* Teaching: Many musicians give private lessons or teach at music schools.
* Writing and producing music: Some musicians write and produce music for other artists or for commercials and movies.
* Performing at weddings, parties, and other events: Musicians can also earn money by performing at weddings, parties, and other events.
* Selling merchandise: Some musicians sell merchandise, such as t-shirts, hats, and posters, to their fans.
The potential for earning money as a musician is vast, and it is possible for musicians to make a very good living from their music. However, it is important to remember that the music industry is competitive, and there is no guarantee of success.