Salary
Average Salary: $20,000
Expected Lifetime Earnings: $834,960
The Boss, Bon Jovi, and The Eagles each earned over $80 million last year, thanks to their concert sales; whereas their younger counterparts, like The Biebs, Lady Gaga, Katy Perry, and One Direction earned between $33 and $80 million (source).
As we mentioned earlier, the CD/record is deader than a doornail, unless you count those who are buying them to make decorative CD Christmas wreaths.
The star with the biggest windfall has to be Dr. Dre, who earned $620 million last year, thanks to his Beats headphones—which just goes to show that you can earn a whole lot more money peddling expensive headphones and earbuds to listen to the music than you can actually making it (source).
Imagine Dragons, Fall Out Boy, and Hozier are all making respectable sums by topping the Billboard Charts. Despite all the fuss from Taylor Swift, big name rock acts are still making money on Spotify royalties—but what about the little guy (or gal) from an indie label?
What kind of salary can you expect to earn as a fledgling rockstar? Usually less than $20,000 a year (source).
For all the money you need to spend launching a tour or producing an album, consider yourself lucky if you break even (source).
You won't have a steady source of income unless you've been successful long enough to have a wide catalogue of music that's up for sale, as well as a sold-out tour (source).
With all the expenses you need to shell out for management, advertising, recording costs, tour expenses, and splitting the money you make between band members, the average band needs to gross at least a million a year to see any kind of profit at all. Touring is the only way to make it happen.