Overall, according to the US Bureau of Labor Statistics, the median annual wage for musicians and singers was $39,240 in May 2021.
The top 10% of earners made more than $85,550, while the bottom 10% earned less than $16,720. Again, these figures include all types of musicians and singers, so actual guitarist salaries vary.
Here are some specific examples of guitarist salaries:
* Session musicians: Session musicians earn an hourly wage for recording music or performing live. The rate can vary depending on the project, but according to the Musicians Union, union session musicians made an average of $70 per hour in 2021.
* Band members: Band members can earn salaries anywhere from a few hundred dollars per month to hundreds of thousands of dollars per year. According to Forbes, the average income for full-time, working musicians is around $83,000 per year. However, top musicians can earn much more. In 2021, Genesis was named the highest-paid music act of the year and generated an estimated $230 million.
* Music teachers: Music teachers earn an average of $29.93 per hour, according to the US Bureau of Labor Statistics. Guitar teachers often charge anywhere from $30 to $60 per hour for private lessons.
* Music producers: Music producers earn salaries that vary widely depending on their experience and success. According to the Bureau of Labor Statistics, the median annual wage for music producers was $78,570 in May 2021. Top-earning music producers can earn millions of dollars per year.
Keep in mind that these are just a few examples. Guitarists' salaries can vary significantly depending on the factors mentioned above. Some successful guitarists can earn tens of millions of dollars in a year, while others may barely make a living from their music.