19 Apr How much should you get paid for a dance class? // Step by step guide
You would think this is a question for the beginning dance teacher but even experienced teachers don’t always know how much they should earn per dance class. In this article I’m gonna give you an clear and easy way to figure it out. We won’t be covering ‘how to reach that target Salary’, that will be for another post. (stay tuned) CALCULATOR AT THE BOTTOM OF THE PAGE !!
But Steeve, why wouldn’t I just ask other teachers and just stick to that? Well because we all have different lifestyles and dreams. We also have very different costs and priorities. Maybe you live in the centre of the city and have a car while your ‘source’ lives on the outskirts and takes the train. Your rent, food and travel costs will be very different. This will take some time so don’t be lazy (this is why people mostly just ask around instead of doing their homework) because this has a major influence on your career.
Your target income
First step. Pick a number. If you are handling your life right you should know how much money you need to be living a comfortable life, eat healthy, pay your rent, electricity, heating, going out, savings etc. You NEED this number to get started. When you have it, multiply that number by 12 to have your Yearly target income.
Cost of doing business
Secondly: Calculate the cost of doing business. This includes everything from buying a laptop to your spotify account, taxes and sneakers. Think this through. We sometimes forget little things like ink for your printer or bandages for when you hurt yourself. All these should be summed up. Nobody can live without a computer nowadays. I recommend you buy an apple computer. It doesn’t loose as much value as a pc (resale price is incredible) and it’s easy to use. I know it’s expensive but it comes with all the software you need out of the box (imovie, garageband, word, numbers and so on) off course you won’t be buying one every year right? Ask yourself when you would like to get a new one. Divide the price of the computer by the amount of months before your next purchase. (for example 2 years = 24months) This will give you a monthly cost.
Add your yearly target income to your yearly costs and you’ll have your Revised Target Income. Don’t worry if this looks huge. It always does.
How much do you want/can work.
Next step is to figure out how many hours you would like to work per year. Let’s say you want to teach 15hrs per week and need 5hrs of preparation ,marketing included (25% min guys) total 20 hrs per week. You should multiply this 52 (months in a year). 1040 hrs. You definitely will not be teaching every week. There are school holidays, vacations and maybe other factors. Again! Think this through! It is possible to get very precise with this. Take the amount of hours (example: 3 months off total = 12 weeks) 240hrs off the 1040hrs = 800 hrs. Now take the 25% unpaid hours off. You are left with 600 BILLABLE HOURS. This is the amount of hours you will get PAID for.
Now take your Revised Yearly Target Income and divided by your amount of billable hours. Boom.! That’s your Hourly Rate!
Don’t forget that this does NOT take into consideration that most of us will not be able to teach till the legal retirement age. I tent to include that in my costs as a ‘early retirement’ fee.
You might come up with a Huge number per hour. Assuming you were not unreasonable with the amount of hours per week you wish to (or can) work. You should be fine. Don’t be tempted to drop pricing because you are too shy to negotiate your fees.
Let us know if this was useful for you in the comments and please don’t hesitate to share!