Most commercial photography careers have a somewhat predictable arc and money follows for better or worse. In the beginning there’s a lot of energy and excitement which compensates for the lower fees newbies can expect. This honeymoon phase is followed by, ideally, a very long period of busy shoot schedules and higher fees. During these halcyon days it’s no fun to imagine at some point, the music could stop. So this is why I’m telling you now, before you’re in the thick of it, when things are really cookin’ is the time to PUT MONEY AWAY. Just in case.
I’ve often thanked my younger self for setting money aside even if it meant holding back a little in other areas. (See "Lesson Learned #9") It’s subtle, but there’s definitely a difference between my colleagues who have built up some financial security and those who haven’t. It’s a lot nicer to be working because you love it than because you’re desperate. And while I’ve certainly worked hard to keep business moving along, so far so good, I’ve also seen too many great photographers disappear over the years to be convinced I’ll be exempt.
When to start saving? For assistants and techs - if you’re cruising, ‘making bank’ as they say… no need to wait, start saving now. I recommend, however, if you plan on going out on your own, keep funds available to launch yourself. Buying gear, promoting yourself and even getting a studio (if necessary) may be the most valuable investment in the beginning. When you start to feel good about things, confident in being able to earn a living with photography and establishing a consistent client base, that’s the time to start tucking money away. There are myriad ways of doing this; 401Ks, investing in real estate, profit sharing plans - I’m definitely not the guy to advise you on investment specifics. I’ll let you sort out how - Just Save.
If you're lucky you’ll have a nice long run, make a bunch of money and keep taking pictures until you keel over like Richard Avedon, working until the end. Even if this is your fate you’ll be glad to have a financial cushion to catch you just in case. I think any commercial photographer who’s ambitious enough to make a good living taking pictures is probably a little narcissistic and won’t easily be convinced they’d ever be vulnerable to a downward trajectory. (See if you can guess how I know this…) However, no matter how talented you are and how hard you work there’s always that chance your heyday won’t last as long as you’d like. If you don’t put money away during the good times you’re going to be…hmm… searching for le mot juste… FUCKED! (And not in the good way.) So at the risk of repeating myself… when the going gets good, do yourself a favor and start putting that money away. Think of it as a safety net, a little peace of mind. You’ll thank yourself later. Who knows, maybe you’ll even thank me! (DMs are fine.)
That egg is pure gold—literally and metaphorically. Just like a thriving photography career, it’s shining now, but that drip reminds me why saving is key. Solid advice and a stunning shot!
“Not in a good way…” 😬