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Episode 406 – How to Make More Money
Some people argue that you can’t make more than $50K in VFX. Others compare their lives to the curated lifestyles on social media and demand to get paid more. It really comes down to your WHY: Why do you need more cash? The quickest pay rise you can give yourself is figuring out your budget. It’s better to figure out your finances and take control of your money. And if you still want to earn more money, you need to understand the industry you’re in and what it pays people.
That being said, you can earn bigger numbers in VFX. If you want to earn more, you have to rethink the whole process. Recently, I was offered a Director position on a AAA game. Working in video games, you can make extra cash either in bonuses or by having a side hustle. If you were to start to think about dealing with things on a bigger level – as a studio – you can start to understand the process.
As a VFX Supervisor and previously a Producer and Studio Owner, I understand budgets. When Producers create budgets, they don’t have the money allocated yet. Once vendors submit their bids, Producers sit down and figure out what the budget for a project might be and the number of artists they need to hire. Then they worry about their margins, their expenditures and profit. The Producers on the client side don’t scrutinize the details. All they care about – is deliverables. That allows you to rethink the process by changing the way you charge your rate.
Now, you could go work at the same place your entire life. If you take that linear career trajectory, you end up waiting for a pay rise every year. If making more money is all you’re after, you need to examine a few things:
- First of all, ask yourself if you’re in the right industry?
- If you do want to do it in VFX, can you create a side hustle?
- Do you see yourself launching your own studio?
- Can you move from the vendor to the client side of VFX?
If you want to make money by simply doing VFX, you need to get creative. I’ve talked about this in the past: There is no limit to how much money you can make in visual effects! Ask yourself the question: How do the people who pay me – pay themselves? Once you understand that, you can position yourself in a way that justifies the money you want to make.
In this Podcast, Allan McKay busts the myth that a VFX Artist cannot make a lot of money in visual effects and gives his insight as a VFX Supervisor, Producer and Studio Owner about how you can make a lot more money in this business.
EPISODE 406 – HOW TO MAKE MORE MONEY
Hi, everyone!
This is Allan McKay. Welcome to Episode 406!
I want to do a special Episode about the myth that VFX doesn’t pay the bills – as well as my outlook as a VFX Supervisor and Producer on how you can make a lot more money in this business. I’m really excited about this one because this is a subject I get asked about quite a lot!
We’ll be taking a look at:
- Examining your personal WHY for wanting to make more money;
- Finding alternative ways to earn more cash outside of your regular VFX job;
- An outlook of a Producer about how money gets distributed in visual effects.
I think a lot of people could benefit from this Podcast.
Let’s dive in!
FIRST THINGS FIRST:
[01:12] Have you ever sent in your reel and wondered why you didn’t get the callback or what the reason was you didn’t get the job? Over the past 20 years of working for studios like ILM, Blur Studio, Ubisoft, I’ve built hundreds of teams and hired hundreds of artists — and reviewed thousands of reels! That’s why I decided to write The Ultimate Demo Reel Guide from the perspective of someone who actually does the hiring. You can get this book for free right now at www.allanmckay.com/myreel!
[25:48] One of the biggest problems we face as artists is figuring out how much we’re worth. I’ve put together a website. Check it out: www.VFXRates.com! This is a chance for you to put in your level of experience, your discipline, your location — and it will give you an accurate idea what you and everyone else in your discipline should be charging. Check it out: www.VFXRates.com!
Okay, what did you think? I hope you got a lot from this Episode. Feel free to shoot me an email: [email protected].
Next week, I’m interviewing Frank Petzold, award-winning VFX Supervisor who most recently worked on All Quiet on the Western Front.
Until then –
Rock on!
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