How do we define what it means to be “financially stable?”

Most respondents felt that being financially stable meant “reliably having enough money to cover basic expenses, plus reliably saving money.”

Just under a third of respondents said it meant “reliably having enough money to cover basic expenses, plus sometimes saving money.” Only 9% of respondents felt it meant “never needing to think about money at all.”

How financially stable do artists feel now?

We asked respondents to rank how financially stable they felt on a scale of 1–10, with 1 being “not at all financially stable,” and 10 being “completely financially stable.”

On a scale of 1-10, artists' median financial stability ranking was 5.

While there was a wide spread of responses, most people felt fairly neutral about their own degree of financial stability. However, 12% of respondents rated their level of financial stability as a 1 (not at all financially stable). Comparatively, a total of only 3% of respondents rated their financial stability level as either a 9 or a 10 (completely financially stable).

Analysis: What factors were shown to influence the median financial stability ranking of 5? Gender: Female-identifying respondents had a median financial stability ranking of 4 (1 point lower than the median), and respondents who identified as “non-binary” had a median financial stability ranking of 3 (2 points lower than the median). Race: Those who identified as “Asian,” “Black or African American,” and “Hispanic or Latino” had a median financial stability ranking of 4, or one point lower than the overall median. Yearly income: Unsurprisingly, those who reported earning more money also reported feeling more financially stable. The breaking point appeared to be the $50K–$60K threshold—respondents making that amount or higher had a stability ranking that was higher than the median. On the other end of the spectrum, those who made less than $30K annually had a median financial stability ranking that was lower than the median. Experience: Surprisingly, years active in the art world had little effect on respondent’s financial stability. While those who had only been active for 1-5 years had a median financial stability ranking of 4 (1 point lower than the median), all those who had been active for 5 or more years shared the median financial stability ranking of 5. Time spent self-promoting: Respondents who spent 3 or more hours per week posting to social media or otherwise marketing their own work felt less financially stable, with a median financial stability ranking of 4. Those who spent 1-2 hours per week promoting their work shared the median stability ranking of 5. Those who spent no time self-promoting felt slightly less stable, with a median stability ranking of 4.5 Time spent socializing: Those who attended no art-related events per week had a median financial stability ranking of 4, versus the overall median of 5. Those who attended 1-2 art-related events per week shared the median stability ranking of 5. Those who attended 3 or more art events per week had a slightly lower median stability ranking of 4.5. Audience size: Those with a total online audience of fewer than 2,000 people had a median financial stability ranking of 4 (1 point lower than the median).

How much income are artists earning annually?

We asked respondents to share the range of their total yearly income, in increments of $10K (or in the USD-equivalent of their country’s currency).

Overall, the median income was $20-30K per year, and almost 60% of respondents reported making less than $30K per year.

For comparison: In 2016, the median household income in the United States was about $58K per year (via census.gov). Our survey found that only 17% of responding artists made more than that, and only 22% were in the $50K–$60K range or higher.

How much income artists reported making annually: 21% make between $0–$10K a year

14% make between $10K–$20K a year

23% make between $20–$30K a year

9% make between $30K–$40K a year

11% make between $40K–$50K a year

5% make between $50K–$60K a year

7% make between $60K–$70K a year

7% make more than $70K a year

3% didn’t respond

Analysis: What factors were shown to influence the median yearly income of $20-30K? Gender: Male-identifying respondents had a higher median yearly income of $30-40K, while female-identifying and non-binary identifying respondents shared the median yearly income of $20-30K. Race: Those who identified as “Asian” or “Middle Eastern” had a lower median income of $10-20K per year, versus the average of $20-30K per year. (Only those races with which 20 or more respondents identified were reviewed here) Geographic Location: Those who responded from France, Germany, and the United Kingdom had a lower median yearly income of $10-20K. Those who responded from the United States had a higher median yearly income of $30-40K. (Only those countries from which 20 or more artists responded were reviewed here) Experience: Those who reported that they’d been active in the art world for ten or more years made a higher median income of $30-40K. Financial Stability Ranking: Unsurprisingly, median yearly income increased as respondent’s financial stability ranking (how they’d rank their level of financial stability from 1-10) rose.

How confident are artists that they’ll be able to become financially stable—even if they aren’t financially stable now?

We asked respondents to rank how confident they were in their ability to become financially stable while continuing to pursue their artistic ambitions, with 1 being “I doubt I’ll ever be financially stable,” and 10 being “I’m certain I’ll be able to become financially stable.”

In comparison to how financially stable they reported feeling at present, respondents felt only slightly more optimistic about how financially stable they might feel in the future.

On a scale of 1-10, the median response was 5—meaning most people feel fairly ambivalent about their ability to become financially stable in the future.

How satisfying is it to live the life of an artist?

We asked respondents to consider their overall level of satisfaction with their life as an artist, and rank it on a scale of 1 (not at all satisfied) to 10 (completely satisfied).

Overall, the median satisfaction rating was 6, with most respondents falling somewhere in the middle of the spectrum.

Analysis: What factors were shown to influence the median satisfaction rating of 6? Experience: The longer a respondent had been active in the art world, the more satisfied they were (those who were active for 20+ years had a median satisfaction rating of 7). Race: Those who identified as “African American or Black” reported being slightly more satisfied (with a median satisfaction rating of 7). Gender: Those who identified as “non-binary” reported being overall less satisfied, with a median satisfaction rating of 5. Art-related income: Those who reported earning part of their income from gallery sales, grants, awards, private commissions, or sponsorships had a median satisfaction rating of 7. Business practices: Those who spent 25 or more hours per week on administration activities related to their work had an average satisfaction rating of 7. Time spent making art: The number of hours per week respondents spent making work directly corresponded to their satisfaction ranking, with more hours in the studio correlating to a higher satisfaction ranking.

What sources of income are most helpful to artists?

We asked respondents to choose the top three types of income or funding that have been most helpful in sustaining their art practice.

“Doing freelance/contract work” was by far the most popular choice (61% of all respondents listed this as one of their top three income sources).

“Having a job that’s unrelated to my practice” and “having a job that’s related to my practice” tied for second place (42% of all respondents listed this as one of their top three income sources).

"Having family support or inheritance" was listed by nearly 29% of respondents as one of their top-three sources of income.

Doing freelance / contract work

Having a job that's unrelated to my practice

Having a job that's in the same field as my practice

Family

Private commissions

Grants

Gallery sales



The data suggests that most respondents are not making significant amounts of money directly through their artwork. In fact, just 12% of respondents listed “gallery sales” as one of their top three most-helpful sources of income.

How are artists learning how to become financially stable?

We asked respondents where and how they’d learned the most helpful strategies for becoming financially stable.

Our survey found that most artists are figuring things out through trial and error (74%), by observing and talking with their peers (67%), and by doing their own research (40%).

The data suggests that artists are not learning how to financially sustain themselves through school, internships, or any other official education programs.

Trial and error

From observing / talking with peers

From doing research

Mentorship

Other

School

Internships



What factors most affect an artist’s ability to become financially stable?

We asked respondents to choose up to three factors that had most helped them in their quest to become financially stable.

Our survey found that artists were most likely to credit their relationships and support network as top factors contributing to their financial stability.

Over half of respondents also credited their strong work ethic as a leading factor. Interestingly, only 26% of respondents credited their ability to market their own work as a leading factor in their ability to become financially stable. The factors that appeared least helpful overall were receiving high-profile awards, getting favorable press write-ups, and working on private commissions.

How much of an artist’s income actually comes from their artwork?

We asked respondents to share what percentage of their total income came directly from their art practice.

Almost half of respondents said that just 0-10% of their income was generated through their art practice. Only 17% said they were making 75%–100% of their income through their artwork.