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Magazine Article
A recent parade magazine article reported on up-and-coming career opportunities, featuring an Arkansas hairstylist earning $72,000 per year. You can too! In 1996, the average base income per full-time employee was estimated to be about $32,000. Based upon a typical 50% commission factor, the average income in 1998 for salon professionals was $18.54 per hour, while salon owners averaged $22.03 per hour. The corresponding full-time salaries were $45,822 for salon owners, $35,193 for salon employees and $38,563 for all other salon professionals – both salon owners and salon professionals, inclusive of tips. The upcoming 2003 survey of annual cosmetology incomes and job demand for analyzing the 2002 statistics are expected to grow by 20%. Whereas a full –time salon professional may have averaged $32,000 in 1996 and $38,000 in 1999 – they are now projected to be able to earn an average of $42,000 in 2003. With increased demand for extra services and dramatic shortage of available salon professionals, the sky is the limit! Remember that these numbers are only the “averages”. Your only limits are how much you want to work.
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Cosmetology Facts
According to the U.S. Department of Labor, the Medial annual salary for Cosmetologists was $32,000.00 in 2001 and the opportunities are endless. Experienced stylists can earn up to $50,000.00 per year and more. Employment opportunities for Cosmetologists are expected to grow faster than the average for all occupations through the year 2005. It is one of the fastest growing and desirable jobs, according to MONEY magazine.
Earnings for Barbers and Cosmetologists
Barbers and cosmetologists receive income either from commissions or wages and tips. Their median annual income in 1994 was $14,800. A number of factors determine the total income for barbers and cosmetologists, including the size and location of the shop, the number of hours worked, customers' tipping habits, and the competition from other barber shops and salons. A cosmetologist's or barber's initiative and ability to attract and hold regular customers are also key factors, so these workers may play an important role in determining their earnings. In fact, 1 out of 10 barbers and cosmetologists earned over $26,800 in 1994. Earnings for entry-level workers are generally lower, ranging from the minimum wage to considerably more in prestigious or exceptionally busy salons.
A growing number of barbers and cosmetologists rent chairs or booths from salons on a daily or hourly basis. These workers are essentially self-employed, and their earnings are a function of their "book," or clientele list.
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