Hollywood superstars are supposed to have it all. But while doing promo for The Color Purple this week, actress Taraji P. Henson revealed her struggle with the pay disparity she still faces after 25 years in the business. “I’m just tired of working so hard, being gracious at what I do [and] getting paid a fraction of the cost,” the Golden Globe and Academy Award nominee said, as she broke into tears. This almost caused her to walk away from the film. “The math ain’t mathing…This industry, if you let it, it will steal your soul. I refuse to let that happen."
The struggle between art and commerce is something that all creatives constantly think about (and usually hits hardest around tax time). This year, it feels especially relevant following Hollywood’s biggest strikes in recent memory. Many were shocked to find out that the average pay for actors is $27.73/hour and only 14% of SAG-AFTRA make the $26,470 a year to qualify for healthcare! The average TV and film writer, according to the WGA, made $260,000 in 2021 (which is about the same as it was in 1995, adjusted for inflation).
Closer to home, the numbers are even worse. The median wage for writers and authors is about $73,150. In other words, that stack of cash a rapper is using as his “play phone” is his colleague’s annual salary.
There are infuriating discrepancies along race and gender lines and it’s especially bad for women of color. Venerated actress Viola Davis has spoken about being been called the “Black Meryl Streep” but doesn’t get paid like her. The literary world is rife with the same issues, where women of color are constantly low-balled, even despite critical acclaim.
We all know this happens statistically. But when it stares you in your face, it’s something else. I’ll never forget when I was accidentally shown a spreadsheet at a company that shall remain unnamed that displayed what I was paid compared to a white male writer. Despite the fact that I had more responsibilities and tenure and the company “loved me”, we were paid the same rate. When I tried to advocate for a raise, I was chastised (by both male and female execs) for being “too expensive”. Eventually, I left.
2024 is around the corner and my wish is that everyone who reads this newsletter is valued, respected and paid what we deserve. As we head into a new year of opportunities, here’s some tips on securing the bag:
Be emotionless: This one is hard. Money is a charged topic but you need to view it without any personal connection or feeling. This is a business. No company is going to go broke for you, so you need to stop doing the same. You are your own brand. I promise you, Louis Vuitton doesn’t offer discounts or handbags in exchange for “exposure”.
Don’t focus on outliers: For the majority of people, the top 1% is not relevant. Sorry, if I crushed your dreams. Dwayne “The Rock” Johnson was the highest paid entertainer, with $270 million last year. That’s great! Be inspired and add him to your vision board. But right now? Unless The Rock is footing your mortgage, it’s irrelevant.
Analyze the market: On Sep 14, 2023, New York enacted a pay transparency law that requires employers with four or more employees to disclose the minimum and maximum annual salary or hourly wage in postings for jobs. I highly encourage every person to look at these postings to get an understanding of averages across industry, function and experience level. Even though some companies post ridiculously broad ranges, this gives you some sense of the market. I did this exercise recently and was pleasantly surprised with how much I can/should demand.
Talk to colleagues. People in America love money but don’t like talking about it. The lack of transparency isn’t helping anyone. Don’t be too humble to ask trusted people what you should be asking for.
Ask: A closed mouth don’t get fed.
Everything is negotiable: Get comfortable with negotiating. If they want you, they’ll make it happen.
In the end, if the “math ain’t mathing”, that’s okay. It’s not a reflection of you, the value of your dreams or worth as a human.
Here are some books that I highly recommend to get in the bag securing mindset:
You Are a Badass at Making Money by Jen Sincero (I love the audiobook!)
Never Split the Difference: Negotiating As If Your Life Depended On It by Chris Voss
Now, go listen to Jay-Z because the lessons are worth more than $500,000.