Learn How to Become a Talent Manager
Learn about the education and preparation necessary to become a talent manager. Get a quick view of the requirements as well as details about salary, degree programs, and skills needed to become a successful talent manager.
What is a Talent Manager?
- A manager oversees the professional lives of their actors, models, and talents, which can include finding and creating new projects, guiding the progress of current projects, providing notes on those productions and offering support and formative feedback.
How much does a Talent Manager make?
- Managers reportedly make between $250,000 to $300,000.
- Managers make money based off of commissions.
- A single major client can be worth millions. That said, a starting manager can make between $50,000 to $60,00 and are expected to bring in two to three times their pay in commissions.
- Top managers can make well into the millions, and unlike agents, managers can produce projects, making additional money.
What does a Talent Manager do?
- If you’re an individual with an eye for finding talent, you may enjoy becoming a talent manager.
- A talent manager helps talented people become successful in the entertainment industry.
- Managers handle communication between employers, negotiate contracts and help with other business aspects that an artist does not have the time or experience to do.
How do you become a Talent Manager?
If you are interested in becoming a talent manager, you will need a bachelor’s degree and a background in the field in which you are representing your clients. Moreover, having a strong business, marketing, communication, and interpersonal skills are a significant plus.
Students interested in becoming a Talent Manager may have to learn the details involved in the entertainment industry. It is crucial for those interested in this career attending college to study, advertising, marketing, market research, making deals and perhaps some necessary computer science skills.
What job duties does a Talent Manager have?
An aspiring talent manager must have active social media and social networking skills. Building and maintaining connections for clients is a significant facet of the job as well as assuring that the contacts keep the clients at the top of their list is essential. Much of a manager’s day is spent arranging an appearance, seeking engagements, planning upcoming productions, and networking with other entertainment industry professionals.
Have strong communication skills for this occupation are essential. The manager must be able to showcase their client’s abilities and demonstrate why they are better than their competitors to be successful. The manager should also be able to determine which productions will highlight the client’s particular talents and keep the client from being typecast. The business manager should also be willing to offer support while also have a steady demeanor in the course of dealing with clients with a diverse set of personality traits.
Managers should also advise their clients on financial issues. How they handle the client’s finances may either be done personally or through third party accountants. However, they must keep their client’s best interests in mind along with personal financial advice. Along with personal financial information, the manager should also manage their business finances to make sure they are spending their money appropriately on each project and production; This can be difficult when it comes to net percentages are part of the contractual agreement.
Employment outlook and salary information
According to the U.S. Bureau of Labor Statistics (BLS), as of 2015, there were 13,230 of these individuals employed (www.bls.gov). The BLS expects growth of 3% for agents and business managers of artists, performers, and athletes from 2014-2024; This will result in 500 new job openings over the decade. The mean annual wage for these agents and business managers was $95,810 in May 2015.
Talent Managers book engagements, negotiate contracts, provide financial support and financial advice for their clients. Typically, they complete a bachelor’s degree program with a wide range of studies. Interpersonal and social skills are essential for this career, and agents and business managers of entertainers can expect a 3% increase in job opportunities over the next five years.