<p>thespianed, it seems that everyone has covered the answer to your question very well. I will add that one thing to be cautious about is to define ‘making it in the business’ as performing on Broadway. Most actors will never set foot on a Broadway stage, or an off-Broadway one, for that matter. Being an actor is creating your art wherever possible and, hopefully, being able to sustain a relatively good standard of living. </p>
<p>Here is a post that vocal1046 shared with us about Equity members and the amount of work they get. It’s sobering but should be information that every prospective theatre student understands.</p>