Industries with the Highest Wages
Cosmetologists can earn a good salary no matter what industry is chosen. Per the Department of Labor, as of May 2008, the average hourly wage for hairdressers, hairstylists and cosmetologists was $13.02 which equates to an average wage of $27,070. Though this may seem a bit low at first glance, the prospects of earning higher wages are excellent.
One of the major factors determining the amount earned is the industry in which the cosmetologist works. Those working in the motion picture and video and the performing arts industries earn over $20 an hour. In fact, cosmetologists in the motion picture industry earn $29.50 an hour or $61,370 annually. Cosmetologists working in psychiatric facilities earn an average of $15.65 while the online shopping and mail order industry pays an average of $17.83 an hour.
The lowest paying industry is state government at $15.32 per hour which means cosmetologists working in the highest paying motion picture and video industry are earning 92.62% more on the average. Generally speaking, cosmetologists working for state government are instructors in cosmetology schools or license examiners. Clearly it is possible to earn much more working in private industry.
The job prospects for cosmetologists are expected to be excellent between 2008 and 2018 according to the Department of Labor. There is a wide range of industries to choose among too ranging from state government to working for online shopping companies to careers in the movie and arts industries. Of course, many cosmetologists are self-employed and either own studios, contract their services, or lease space in salons. The amount of wages a cosmetologist earns is usually determined by the years of experience, depth of professional knowledge, the chosen industry and the type of employment such as hourly wage versus self employment.
Industries with the Highest Employment Levels
Cosmetologists have excellent employment opportunities over the next 10 years for a few reasons. Population growth is creating new opportunities in all areas of the country. In addition, people are seeking the professional services of cosmetologists more and more as advances are made in hair coloring treatments using specialized chemicals. A third reason for the excellent employment opportunities in the coming years is due to the growth in the number of full service salons offering a range of specialized services.
The need for qualified cosmetologists is reflected in the fact that two of the highest employment level industries are the technician/trade schools and employment services industries. The range of annual wages in the highest employment industries for cosmetologists is $20,240 to $27,840, but wages trending upward according to the Department of Labor.
When looking at this chart, the department stores industry is the second highest employing industry but pays the lowest at $10.79 per hour. In fact the top paying health stores industry pays 37.5% more at $13.11 per hour for an additional annual total of $7,600.
When you compare the health store industry average wage to the fourth item on the list of top 5 industries with the highest employment levels which is employment services, the average annual wage difference narrows to 5%. The difference in annual wages between these two industries is $1,400. In other words, when you exclude department stores from consideration the remaining industries pay very similar wages in areas of high employment of cosmetologists.
