Why Actors Should Consider a Degree or Minor in Business concurrent with or Instead of Theatre
In this weeks “I wish I’d known that at the start of my career post” We are talking college. This is for those 17-18 year olds out there who want to be an actress, and they want to go to college and get a degree. Perhaps that is a condition of their parents, or perhaps that is a wish for themselves. A degree is by no means necessary to have a successful acting career. I say this as someone who has a degree in Musical Theatre but knows so many who have zero degree, or a degree in biophysics or some other unrelated field, and just as much talent/success.
So, if you are looking to pursue a degree. Might I offer this advice. Advice I wish I had known before I went to college.
When aspiring to become a successful actor, many people naturally gravitate toward pursuing a degree in theatre or the performing arts. After all, these programs provide essential training in acting, voice, and movement—skills crucial for any actor. However, in today’s competitive entertainment industry, having a background in business may be just as, if not more, beneficial to an acting career.
A degree or minor in business could be the key to setting yourself apart and achieving long-term success in a challenging industry. Here’s why:
1. Actors are Entrepreneurs
At its core, being an actor is like running a small business—you are the product, and you’re responsible for marketing yourself, managing your career, and making strategic decisions. In this sense, every actor is an entrepreneur. A business education can equip you with the tools to approach your career with a business mindset, which is invaluable in an industry that is often unpredictable and requires self-promotion and financial planning.
With a background in business, you can:
Develop branding and marketing strategies to stand out.
Understand contracts, negotiations, and legal aspects of the industry.
Manage your income and finances effectively, especially when dealing with inconsistent earnings.
2. Financial Literacy is Critical
One of the biggest challenges actors face is managing their finances. Acting gigs can be unpredictable, and income often fluctuates from month to month. A business education teaches you how to budget, save, invest, and plan for the future. You’ll learn about taxes, deductions, and financial planning—skills that are especially important for freelancers and independent contractors.
Without financial literacy, many actors struggle with debt, lack of savings, or poor financial planning during slow periods. A business degree can provide you with the knowledge needed to handle your finances wisely and sustain a long-term career.
3. Networking and Relationships Matter
In the entertainment industry, networking is essential. A business degree often emphasizes the importance of building professional relationships, networking, and managing interpersonal dynamics. These skills are invaluable for actors, who need to cultivate connections with casting directors, agents, producers, and fellow actors.
Business programs also focus on negotiation and communication skills, which are crucial when navigating contracts, discussing salary, or managing relationships with agents and managers. Being able to advocate for yourself and your career can help you negotiate better deals and seize opportunities that others might miss.
4. Business Skills Are Transferable
While a theatre degree focuses on your craft, a business degree equips you with skills that are highly transferable across industries. This can be incredibly useful if you need to supplement your acting income with other types of work or if you’re interested in branching out into producing, directing, or running your own production company.
With a solid foundation in business, you’ll have a wider range of career options within and outside the entertainment industry. You could work in marketing, management, public relations, or finance while continuing to pursue your acting career. This flexibility can provide financial stability and open doors to new creative endeavors.
5. Marketing Yourself in the Digital Age
In today’s digital world, actors need to be savvy about self-promotion and personal branding. With social media, websites, and online platforms playing a huge role in casting and networking, knowing how to market yourself effectively is crucial.
A business degree teaches you the principles of marketing, including branding, digital marketing, and public relations. You’ll learn how to create a personal brand that reflects your unique talents and how to use social media to grow your audience and visibility. By mastering these tools, you’ll be better equipped to build your brand as an actor and increase your chances of getting noticed by casting directors and agents.
6. The Entertainment Industry is a Business
The entertainment industry is a multi-billion-dollar business, and understanding how it operates is critical to succeeding within it. A business degree gives you insight into how production companies, studios, and agencies function, as well as how money flows through the industry. You’ll gain a broader understanding of the economics behind entertainment, which can help you make more informed career decisions.
By understanding the business side of the industry, you can better position yourself for long-term success. You’ll know how to assess opportunities, manage your career strategically, and even explore opportunities beyond acting, such as producing or creating your own projects.
7. You’ll Stand Out
While a degree in theatre is common among aspiring actors, having a degree or minor in business sets you apart. Casting directors, agents, and producers will recognize that you’re not only a talented performer but also someone who is smart, organized, and capable of managing the business side of your career.
This unique combination of skills can make you more attractive in the eyes of industry professionals. It shows that you’re serious about your career, that you understand the importance of professionalism, and that you have the tools to navigate the complexities of the entertainment business.
Conclusion: Acting is More Than Just Performing
While training in acting, voice, and movement is essential for your craft, the reality of being an actor extends far beyond performance. The ability to navigate the business side of the entertainment industry is crucial for a sustainable and successful career. A degree or minor in business equips you with the skills to manage your finances, market yourself effectively, build meaningful relationships, and approach your career with a strategic mindset.
In the long run, a business education can provide the stability and flexibility that many actors need to thrive, allowing you to focus on what you love most—acting. So, while pursuing your passion for performance, consider balancing it with the practical knowledge that can help you build a long and prosperous career.
