Start an Event Planning Business. Startup Showcase vs. Read Managing By: Briana Morgaine. See Also: Target Marketing Briana Morgaine. Starting or Growing a Business? Check out these Offerings. Liked this article? Try these:. Strategy Startup Showcase vs. Back To Top. Plan, fund, and grow your business.
Plan, fund, and grow your business Easily write a business plan, secure funding, and gain insights. Comparing the data from what we found in early and what we researched in December , event planning salaries are trending differently depending on geography and title. For example, though our own survey of job postings in the NY area shows a slight decrease in salaries for event planners, the Convene Salary Report estimated that growth to be around 7.
We have a ton of tips for you on how you can increase those earnings in the short term and the long. In addition to the ideas in the graphic above, we have some tried and true tips for increasing your salary.
Analyzing the job postings we found some useful information that may help you to grab a bigger salary role. What this tells us is that if you have more than 3 years of experience in the event industry you probably need to be looking at jobs advertising different job titles and adjusting salary expectations accordingly.
Job roles such as event manager, special events manager, corporate event planner, fundraising manager and combined job titles often require many more years of experience and the salary should vary accordingly. In our research, we discounted those job postings that did not have specific salaries listed from our sample. These postings often gave a starting point or gave salary brackets instead. Recruiters are looking for the best event planners, not always the cheapest, so although every company will have a limit, there may be some flexibility to secure a bigger salary if you have the skills to back it up.
The final salary amount offered in these situations is decided at, or following, the interview. A consistent finding across the job postings we looked at is that as soon as the job requirements mention a position of authority or seniority over other team members, it came with a spike in pay.
Some companies pay more than others and some event planning positions bring in more money because of the departments they are associated with. According to our findings, large companies with extensive corporate events pay on the higher end of the spectrum as do titles with marketing in them. Event planners that fall into a sales or marketing department seem to command higher earnings than those that are in a standalone events department.
Our analysis revealed that certain types of event planning positions command higher salaries. The highest out of those researched were for tech companies and those hosting international events, while universities and colleges seemed to pay close to the average.
This is a bit of a double-edged sword because what we found is that only two job roles in our sample mentioned requiring a CMP or other event planning certification. The rest focused more on specific experience coupled with formal education. Does certification affect your ability to get a job? Not according to current job openings. But it may give you a way to negotiate a higher salary.
Are you already employed in an event planner job but are feeling financially unappreciated? When it comes to your salary and earnings, there is no magic formula that can instantly make you more money, after all, your employer may be paying you the most they can viably afford, or if you are a freelance event planner or event agency your local clients could balk if you suddenly raise prices too high.
Not every event planner role is created equal. The earning potential as an event professional is totally dependent on the specific discipline and a multitude of other reasons.
Boundless energy, extremely organized, event folks are generally very nimble and able to make fast, clear decisions. Sometimes the best way to decide whether your salary is in line is to start seeing it differently. Does your job offer you more flexibility than other 9 to 5 jobs can expect? Do you get perks such as expenses being covered by the business or a free gym membership?
Are you eligible for an end-of-year bonus or additional pay related to performance? Do you have unlimited vacation opportunities? Honestly, you might not be in the right phase of your career to warrant a rise in salary, no matter how much you want it.
You may not see a jump in numbers now but you can still impact your salary for the future by creating a career plan that keeps you focused and utilizing every opportunity you can. Event planners often have to negotiate better deals with venues and suppliers so by demonstrating that you are competent to discuss money and forge a mutually agreeable a deal when negotiating your own salary package shows valuable skills that your potential employer should recognize.
If a pay increase is out of the question in your current situation, look at how you could supplement it or get savvier. If your employment contract allows it you may be able to take on additional paid event planning projects or consultation on your own time that would increase your income or secure paid speaking engagements for a cash boost.
Or perhaps you can take steps now to get more money coming into the business which will make a pay rise more viable in the future. If you feel that you are at a dead end and your chances of getting a pay rise or progressing within the company are slim then it could be the time to start finding another position in the industry.
If you know your worth and can prove the value you bring to your employer but your salary expectations cannot be met then perhaps it is time to shop around for a better deal. Often the only way to vastly increase your salary is to go elsewhere. Many employers are capped within a range and can only offer incremental increases.
If you are, speak up and present the data. Whenever you lower your prices drastically in order to land your next client, you just cheapen your services overall why should your next client pay more if your previous client paid less and this is not enhancing the chances of a pay rise in the future.
Fees are higher in the Northeast, for example, than in the Southeast. This difference reflects the variation in cost of living. Experience and reputation of the event planner. If you're just starting out in the industry, it's reasonable to charge less for your planning services while you gain expertise. Although clients shop around for the best price, a planner who comes in too low with an estimate may be as off-putting as a planner who comes in too high. Your client may question your ability to throw a top-tier event based on the price you have quoted.
So how are the above-mentioned fees-for-service calculated? They contract out the labor, supplies and materials involved in producing an event and charge their clients anywhere from 10 to 20 percent of the total cost of the event, with 15 percent being a rough average. Before you can begin planning an event, you have to know exactly what your clients want and what they can spend. Then you estimate how much it will cost to contract for labor and supplies, add your commission and present the total fee for services to the client as an estimate.
Below are some possible per-event expenses:. An increasing number of employers require that wedding and event planners hold a bachelor's degree, usually in a business discipline such as marketing and hospitality management. This is because the industry has become littered with more job responsibilities that require a degree. Also, there has been an increase in the number of accredited schools offering event planning degrees. While in the pursuit of a degree it is suggested that students apply for internships or volunteer to plan events to gain more experience and increase their earning potential.
Bureau of Labor Statistics.
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