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Outside of equity - so when you are first starting - you will get paid barely enough to pay your bills.
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This is not entirely true. If an actor is cast as a swing on a non-Equity tour, they can certainly earn more than would 'barely pay their bills'. A typical salary for a swing on a non-Eq tour would be ~$1000, all in, for someone who is a lead, or even in the ensemble, it would be higher. While it's certainly not what an Equity actor would make, even at minimum, it is not that difficult for these kids, most of whom are in their first professional show, to save a good amount of money.
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Please understand, many people make a living in the theatre, fewer make a living acting.
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I wish more people realized the absolute truth in this.