Stylists: Earn 6 Figures Behind The Chair With This ONE Schedule Change
Busting 3 Industry Myths About Stylists’ Income
Let’s talk money: Personal financial goals need facts, which can be difficult to find—especially for the beauty industry. But the team at Qnity, an independently owned company committed to growing the beauty industry, is here to set the record straight.
Aiming to disprove incomplete or flawed data about the beauty industry and help stylists establish financially secure careers behind the chair—The 2023 Pro Beauty Compensation Study was conducted. With over 3,300 beauty pros across 330 salon locations in over 36 states, participants submitted their W2s and completed a 50-question survey. Resulting in unbiased, quantitative data about cosmetologists’ income behind the chair.
Below, we’re sharing just ONE area of Qnity’s research to bust some common beauty myths about income and money. Keep reading for facts on hourly rates and how stylists can make over 100k/year, so you can create financial goals for yourself and your business.
Industry Myth: Stylists Don’t Make A Lot Of Money
Fact: The Average Hourly Rate for Stylists is $38.37
Renting vs commission, flexible working hours and schedule versatility are pieces that stylists can use to build their dream career, but it also means that factual data around income can be difficult to find.
Qnity found that previous data did not accurately reflect the multiple aspects of the beauty industry. Meaning previous studies—like the one conducted by the U.S. Bureau of Labor—showed an average of 20 dollars less than Qnity’s study, which led to misleading results.
Industry Myth: Stylists Can’t Earn 6 Figures
Fact: This ONE Change Can Help You Earn 6 Figures
Creating your own work schedule is vital to establishing a fulfilling career behind the chair. On average, stylists work around 28 hours per week. Did you know that by bumping weekly hours from 28 to 40, stylists could increase their annual income to $79,807?
We’re not saying you NEED to, but knowing your average hourly rate and hours worked can help you create a financial plan and revenue goals that fit your career behind the chair. In the study, Qnity found that 24 percent of stylists already earn $48.08 per hour, which is the amount necessary to earn $100,000, when working a 40-hour work week. “Most [cosmetologists] are largely in control of their earnings possibilities,” explains the study. Here is a quick checklist of what you can do to boost your revenue:
- Increase number of work hours
- Raise your prices (you are worth it!)
- Open your books to accept new clients
Industry Myth: New Stylists Earn Significantly Less Out of Cos School
Fact: Stylists with 2 to 3 Years of Experience Make Over 50k per year
It’s not surprising to say that the more experience you have, the more potential there is to grow your income. But, misleading information can deter young stylists from joining the industry all together. So when Qnity found that a study by The Century Foundation concluded that the average stylist with 2-3 years experience only made $16,660, they checked their data.
In fact, Qnity found that the average stylist with 2-3 years of experience makes an average of $33,950 per year working 28 hours a week. With the potential to make $52,802 per year by bumping their hours a week to 40.
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