The music industry delivers a number of interesting and exciting occupations. The finance behind the industry can create a good return on investment for talented and creative individuals. Investing in a personal music teacher presents the opportunity for a creative investment and personal growth.
Talented musicians who leverage their creativity and business acumen have the potential to earn a substantial income. Consequently, the future financial gains possible from investing in a personal music teacher early on our great.
What Does a Personal Music Teacher Offer?
Personal music teachers deliver theoretical and technical training in several areas. For example, some music teachers specialize in voice coaching while others provide training on specific instruments. The personal music teacher is slightly different than those who teach in the education system.
The purpose of working with a private teacher is to develop and hone specific musical skill sets for one individual. This one-on-one interaction helps the student in resolving difficulties in the technical execution of playing music.
Working with a private music teacher offers a number of benefits. There may also be a downside if this is the only type of musical training a person intends to pursue. The benefits of working with a private music teacher include one-on-one training, consistency and personalized service.
One of the downsides is that students might not participate in group musical performances, which can limit a student’s ability to create harmonies and melodies with any group. Despite this, some music teachers offer recitals, which allow individual students to work together with other students in producing a musical performance.
The earnings potential of musicians varies significantly. While a position as a musician or singular usually only requires a high school diploma, pursuing a higher level of education, such as a bachelor’s degree, in theory, or performance might improve in individuals’ earnings potential. Despite this, there are many musicians who earn significant incomes from their music.
For most people, honing musical skills and becoming exceptional at the art requires training early in life. Consequently, starting out with a personal music teacher is a sound decision. The U.S. Bureau of Labor Statistics reports that musicians and singers earned roughly $22.39 per hour in 2010.
These individuals worked with performing arts companies, touring and participating in musical productions. This salary was higher than the national average of $16.27 per hour for all occupations. (Read our article on how to become a famous rapper.)
The cost may vary
The cost of hiring a private music teacher can vary. Essentially, music lessons can be expensive. Students pay for more than each session they attend. For example, some music teachers offer a range of services, including their own instruments and supplies. Instruments require repair, tuning, and maintenance, which are expensive to maintain.
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If you hire a private music teacher who has the appropriate qualifications and credentials, such as memberships and subscriptions, you may end up paying more. Despite this, the level of quality you receive is directly related to the teacher’s experience and qualifications. Hiring a quality private music teacher can cost several hundred dollars, if not more, per month.
Return on Investment for Private Music Lessons
Despite the high cost of private music lessons, as mentioned before, many students go on to become successful musicians. Career opportunities include composer, producer, singer or executive at music labels. Ultimately, many musicians earn high paying salaries.
For example, Forbes reports that Justin Bieber, a famous teenage crooner, earned $55 million in 2012. In addition, Dr. Dre, a producer in the hip-hop industry, earned $110 million in 2012.
The potential for earning a high salary and building a strong financial foundation in the music industry exists. But, it all starts with obtaining, honing and applying music theory and talent to music skills. A private music teacher can lay the foundation for aspiring artists. Read this article on how to become a famous singer.