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Thread: Six figures annual income by 1st or 2nd year possible?

  1. #21

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by NineEleven View Post
    Oh no, hope my kid won't tell me that (if he becomes a photographer)

    start them young! give him a holga and ask him to earn his own pocket money shooting stock.

  2. #22
    Member hotwork77's Avatar
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    Default Re: Six figures annual income by 1st or 2nd year possible?

    In theory it is possible. At $2000 per couple for the next 52 weeks will net you a minimum of $104K.

    But then again, got so many couples getting married and wanting your services meh? I doubt so. It is more of earning somewhere in the region of $40K to $50K per year. It is just like the property agent or insurance salesman. Good ones earn million dollar commission. Not so good ones still hold 2nd job.
    Dreamz is the Alternate Realty | Stand Up and Be Counted

  3. #23

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by Agetan View Post
    Ok guys,

    to stir up more on the topic on "is it hard to earn a living with photography",
    it is very interesting to hear argument on all sides.

    The next question is...
    Is it possible to derive a six figure income (nett) in your first Or second year? Of course from photography?

    Six figure could be as low as 100k to as high as 999k.


    Any thought?


    Regards,

    Hart
    Of course, you can make 100 billions in photography

    Look at my 1st 100 billion dollars income


  4. #24

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by arctos View Post

    If you really meant "median" as in everybody, and not just photographers...
    Median for everyone.

    Although I can only find link for monthly median now.

    $2.6k monthly. Assuming 3mths bonus, only 39K annual pay.. even lower.

    http://www.asiaone.com/Business/News...30-183031.html
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  5. #25

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by Jed View Post
    I agree about it being possible. But you are being extremely unrealistic to think that anyone is going to be able to book 52 weddings a year for $4k each with only a year of reputation behind them.

    52 weddings at maybe $400 each, sure.

    Without a huge client base and referrals from that way, which you won't have as a starter, you're going to also have to plough an insane amount of money into advertising to get work, especially if you want 52 weddings in a year.

    I do agree it's entirely possible, however.
    Quote Originally Posted by lancey View Post
    So Jed, care to share how u think it's possible then? let's hear your alternative plan
    Actually to prove something is possible is rather easy, you'll just have to prove that it isn't impossible.

    Let's for argument sake, say there is a very connected amateur photographer out there. He knows all the right people (i.e. rich friends), who are getting married within the same year. Everyone of them is willing to pay 10k for his services. He only needs to do 10 weddings a year to reach the 100k target.

    Now, in order to disprove this theory, you have to prove that there isn't such a person in the world. Hahaha!

    So I guess when Jed says it's possible, even by a small 1% chance, it is still considered possible.

  6. #26
    Moderator daredevil123's Avatar
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    Default Re: Six figures annual income by 1st or 2nd year possible?

    This thread is so cruel to newbies.... This thread will give them hope, and they will start to offer wedding photography in the truckloads, and they will find wall after wall that their heads will bang into.

  7. #27

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by Xiao_shin View Post
    I read somewhere that Singapore median salary is abt 52K. I think it is more realistic to aim at 50k annual pay then 100k.
    sure boh.......

    http://www.straitstimes.com/Breaking...ry_548819.html

    'We think we can raise incomes, raise the wage of the average worker, by one-third in the next 10 years. That means moving from a median wage of about $2,400 today to about $3,100 in 10 years time,' said Finance Minister Tharman Shanmugaratnam at a dialogue at Suntec City on Friday. Accounting for inflation, the figure is $3,800, he added.

  8. #28

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by night86mare View Post
    Already made right at post 24.

    Give me some time to googles the 52k annual..
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  9. #29

    Default Re: Six figures annual income by 1st or 2nd year possible?

    IRAS sources.. good enough for you?

    http://www.iras.gov.sg/irasHome/uplo...appendices.pdf

    See appendix 5. for resident, median seem to be somewhere at 50-60K.

    Anyway, this appendix is too complex for my small brain.. Anymore useful data can be derived from this pdf?
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  10. #30

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by Xiao_shin View Post

    See appendix 5. for resident, median seem to be somewhere at 50-60K.

    Anyway, this appendix is too complex for my small brain.. Anymore useful data can be derived from this pdf?
    the problem with IRAS is that i am thinking that 20K and below is blanked out......

    you know why? 20K and below for yearly income = no income tax, so IRAS won't include the people in that category....

    singapore has a lot more than 900K taxable residents la...

  11. #31

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by night86mare View Post
    the problem with IRAS is that i am thinking that 20K and below is blanked out......

    you know why? 20K and below for yearly income = no income tax, so IRAS won't include the people in that category....

    singapore has a lot more than 900K taxable residents la...
    Please back that up ("a lot more than 900k taxable resident"). haa haa

    Ok.. maybe have to rephase.. median annual salary for taxable resident as at 31 MARCH 2009 FOR THE YEAR OF ASSESSMENT 2008 is 50k+

    * Assuming annual below 20k is non-taxable resident
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  12. #32

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by Xiao_shin View Post
    Please back that up ("a lot more than 900k taxable resident"). haa haa

    Ok.. maybe have to rephase.. median annual salary for taxable resident as at 31 MARCH 2009 FOR THE YEAR OF ASSESSMENT 2008 is 50k+

    * Assuming annual below 20k is non-taxable resident
    sorry...... i made a mistake, what i meant to say is that there are a lot more than 900K singaporeans.

    the year 2000 estimate lifted off wikipedia, because i'm lazy, says that the figure is 2,973,091 (citizens, under breakdown by residential status).

    http://en.wikipedia.org/wiki/Demogra...ore#Population

    so definitely more than 900K, i would like to think. thus if you take IRAS' data, it will not give the clear picture of what the true median is, just amongst the taxable resident group.
    Last edited by night86mare; 23rd July 2010 at 06:54 PM.

  13. #33

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by night86mare View Post
    sorry...... i made a mistake, what i meant to say is that there are a lot more than 900K singaporeans.

    the year 2000 estimate lifted off wikipedia, because i'm lazy, says that the figure is 2,973,091 (citizens, under breakdown by residential status).

    http://en.wikipedia.org/wiki/Demogra...ore#Population

    so definitely more than 900K, i would like to think. thus if you take IRAS' data, it will not give the clear picture of what the true median is, just amongst the taxable resident group.
    For this topic, salary of taxable resident should be more useful.

    2.9mil include school children, unemployed and old folks (who may still be working at food court or Mac, poor thing but that's anotehr story all together).
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  14. #34

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by Xiao_shin View Post
    For this topic, salary of taxable resident should be more useful.

    2.9mil include school children, unemployed and old folks (who may still be working at food court or Mac, poor thing but that's anotehr story all together).
    bro, i think you still missing the point...

    if say got 10 people,

    5 earn 20K a year, they won't be counted under IRAS taxable residents.......

    the rest earn 35K, 45K, 80K, 200K, 1 million.

    end up, under IRAS, median income in this group will be 80K, when in actual fact.. it is 20K+35K / 2 = 27.5K.

    do you understand what i'm saying? i'm saying that you're neglecting a significant proportion of the population that earn below 20K a year!

    anyhow, if still don't get it, let's take it to PM.. a bit not nice to go so off-topic for so long.
    Last edited by night86mare; 23rd July 2010 at 07:41 PM.

  15. #35

    Default Re: Six figures annual income by 1st or 2nd year possible?

    I agree with you man. Lol. Thats how SG garment make things look real nice on the surface while neglecting those down beneath.

    Anyway... Wedding photography business is getting tougher and tougher. Plus a lot of newcomers willing to slash price until the figures hit below 1k.
    So.. If you have no experience and are hired to be a wedding photographer, don't be surprise if you are paid only $500.
    Wedding photography business used to be a pretty lucrative trade but not now. Its not easy and the pay is low... Go ask those wedding photographer whether they earn more with event shoots or wedding, you'll be surprised by the difference.

  16. #36

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by night86mare View Post
    bro, i think you still missing the point...

    if say got 10 people,

    5 earn 20K a year, they won't be counted under IRAS taxable residents.......

    the rest earn 35K, 45K, 80K, 200K, 1 million.

    end up, under IRAS, median income in this group will be 80K, when in actual fact.. it is 20K+35K / 2 = 27.5K.

    do you understand what i'm saying? i'm saying that you're neglecting a significant proportion of the population that earn below 20K a year!

    anyhow, if still don't get it, let's take it to PM.. a bit not nice to go so off-topic for so long.
    I know what you means by omitting those earning below 20K and am also prefectly clear how skewed the median could be. This 50K will be seriously skewed if we have a big potion of people earning below 20k as is in you example.

    For me, I think by considering those earning above 20k is fine actually. It realy depends what kind of data we are interested in. If we are to pit photographer against those earning above 20k, this data is still relevant. It is always how we arrange the number.

    Not sure about others but i think by bringing median salary in is not OT as it give you a number to crunch. 100K or 200k is really meaning less if said a Mac Donald crew is earning 300k.
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  17. #37

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Anyway, I am fine if the median salary is to be 2.4K as provided by Finance Minister. The other articles I quote stated Median as 2420 for all employed resident and 2590 for all full-timers.

    http://www.asiaone.com/Business/News...30-183031.html
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  18. #38

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by fotoudavid View Post
    i wonder any one hit $4000 wedding x 52 in singapore.........
    If it is so easy, every wedding photographer in SG will be using Hasselblad camera as main camera and Leica camera as backup

    My co-worker, who works as free lance wedding photographer, still charge people $400-500.

    May be those who works full time charge $4K

  19. #39

    Default Re: Six figures annual income by 1st or 2nd year possible?

    From a business standpoint, I don't see why it is not possible to earn a 6-figure sum within the first 2 years.

  20. #40

    Default Re: Six figures annual income by 1st or 2nd year possible?

    Quote Originally Posted by Blur Shadow View Post
    From a business standpoint, I don't see why it is not possible to earn a 6-figure sum within the first 2 years.
    haha main problem here is photographer mainly not doing businesses.....
    Eat breath LIVERPOOL!!!

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