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Re:How Debt Can Destroy a Budding Relationship by patio11 on Friday September 03, 2010 @06:59PM (#1661431)
So one of the projects paying the rent this summer was working for a client which markets college degrees. They asked me to crunch some government data and figure out what degrees are worth on a per-major basis. While I'm mostly done and paid (yay), the project isn't live yet, or I'd show it off.

I think they'll be OK with me saying this much: the data do not agree with your conclusion, for any sensible value of "liberal arts."

Now photography, that is another story. My research methodology totally missed it as a major choice, because the obvious occupation (photographer) doesn't require a degree. Looking at the BLS source data though, egads, $170k to become a photographer is a bad call economically. The median annual salary (note: for photographers at all stages of their career) is $19k. The overwhelming majority are part time only. If you give generous assumptions as to future income growth, the NPV of being a photographer is $410k.

That compares disfavorably with every degree I actually have in the data set. (Including, most relevantly to her situation, the associate's degree you need to become an X-ray technician, which you can get for less than $5,000. Spend another $10,000 on camera lenses, bam, you're an X-ray technician doing something she loves as a hobby.)

Re:How Debt Can Destroy a Budding Relationship by plnewman on Friday September 03, 2010 @07:21PM (#1661480)
She's in San Francisco. If she can get regular work at weddings she'll be able to pull down $2000-3000 per gig, and probably more over time. I talked to people who wanted $5-6k -- when I stopped laughing they told me that there are people who will pay it. Weddings are an absurd profit machine.
Re:How Debt Can Destroy a Budding Relationship by rbritton on Friday September 03, 2010 @07:43PM (#1661526)
The pricing for a weddings-only photographer is largely based on the number of bookings they will do in a year and their demand. All else being equal, the $6k one is likely in more demand than the $3k one. That demand is almost entirely based on word-of-mouth referrals, which take time to build, so it ends up like any brand -- it's worth more when more known.

The deliverables are drastically different between different photographers as well. The wholesale cost difference between our upper-end album and the lower-end one is about 600%.

I don't remember the article to reference it here, but the current cost of weddings was started largely by the introduction of gift registries. It snowballed from there.

Re:How Debt Can Destroy a Budding Relationship by plnewman on Friday September 03, 2010 @08:58PM (#1661652)
It's obviously demand-based, but when I went through this a few years ago, the least experienced people we talked to were asking in the $2k range (this is in SF). Book 30 of those a year and you're grossing $60k. You have to work weekends and there are consultations and other stuff, but it still strikes me as a lucrative job if you can pull it off.

The wedding photographers have some clever ways to sell you more stuff too. Most of them want to retain the rights to the photos that you pay them to take, so they can sell prints to your guests or license them as stock art and stuff. I actually got into a shouting match with one photographer over that -- I insisted on treating the photos as works for hire under US copyright law. One guy had "his and her iPods" that he would load up with wedding pics at the end of the reception. The cost? $1000. Yeah, no thanks.

Re:How Debt Can Destroy a Budding Relationship by rbritton on Friday September 03, 2010 @09:45PM (#1661734)
$60k would be great if that were all income, but the majority of it isn't. After everything is accounted for (product cost, equipment depreciation, studio space, updated samples, advertising, etc), the profit amounts to 20-30% of it We spend about $1500/mo here just on studio rent and utilities.

I won't go into your second paragraph, though, because that mostly boils down to a difference of opinion.

Re:How Debt Can Destroy a Budding Relationship by bricestacey on Friday September 03, 2010 @09:59PM (#1661769)
It seems counterintuitive to simply list cost of rent and utilities when discussing photographers as if no other business suffers the same. It'd be more interesting to list expenses specific to the industry.
Re:How Debt Can Destroy a Budding Relationship by DougBTX on Saturday September 04, 2010 @12:58PM (#1662969)
Yes, obvious standards costs of business, but the post above does the calculation: 2k x 30 = 60k salary. If you're arguing with someone who doesn't have the basics down, that's the place to start.
Re:How Debt Can Destroy a Budding Relationship by plnewman on Monday September 06, 2010 @12:13AM (#1665836)
I did say "gross $60k", and I meant something more like "revenue" than "salary".

Obviously there are expenses that come out of the basic fees, but when I was doing this, the people I talked to at the lower end of the cost spectrum seemed to operate without some of the expenses that came up (ie, home studio, little/no advertising).

The point I was trying to make was, wedding photography is competitive but potentially lucrative if you can establish yourself, particularly in markets like SF.

Re:How Debt Can Destroy a Budding Relationship by prawn on Friday September 03, 2010 @11:27PM (#1661912)
Part of that "other stuff" would be countless hours of finishing/retouching/correcting, etc. Some photographers will spend a week P/T to work through the photos they took on one night.

I think there'd be a few people who get into wedding services expecting it to be lucrative and then find it a lot more difficult than they expect. I've mentioned on here before (check comments history) a client of mine who got married, noticed the huge prices, bought a wedding services business and then sold it within six months - more hassle than it was worth!

Re:How Debt Can Destroy a Budding Relationship by mturmon on Friday September 03, 2010 @08:12PM (#1661582)
I had a friend take the photos for the cost of film. Years later, we look at only a handful of photos anyway. No regrets. YMMV.
Re:How Debt Can Destroy a Budding Relationship by btilly on Friday September 03, 2010 @07:24PM (#1661485)
This is true. But it is also true that the wedding photography business is under severe pricing pressure right now, so I would not count on those prices being sustainable for a lot of photographers.
Re:How Debt Can Destroy a Budding Relationship by plnewman on Friday September 03, 2010 @07:38PM (#1661515)
That makes sense. I got married a few years ago and was shocked at what some of vendors were asking for. With a rough economy I can see weddings being an area that gets scaled back for a lot of people.
Re:How Debt Can Destroy a Budding Relationship by prawn on Friday September 03, 2010 @11:22PM (#1661906)
Never heard of a couple wanting to know if their prospective photographer had a degree before hiring them though!
Re:How Debt Can Destroy a Budding Relationship by nkassis on Friday September 03, 2010 @11:36PM (#1661928)
Yeah, degrees don't mean much compared to real samples and references.

I'm saying that but my wedding photographer had just come out of college. We paid $750 for the photos and it was a pretty good deal, she had some shots taken during school, they were pretty good and that was all we needed to decide. I think we were her first customers of her new company. It was a risk but now days, every aunt and uncle comes with a digital camera.

Re:How Debt Can Destroy a Budding Relationship by lr on Friday September 03, 2010 @08:03PM (#1661566)
Thanks for pointing this out! I went to Iowa State, and if you got a degree in Math, or Physics, or, gasp, CS, the degree came from the same "college" as would a degree in English, or Anthropology. And, if you took enough "geeky" courses, you could easily get a BS (instead of a BA) in English or Anthropology. At ISU, a math degree was very seriously a "liberal arts" degree. And yet, on a regular basis, engineering students would say that all colleges at ISU, except for the College of Engineering, should be abolished. It shows you how stupid they were (maybe still are..), considering one of the colleges they wanted to get rid of was Ag, and ISU is a Land Grant University! So sad.