Salary Range

• The average hourly wage of a musician, according to the Bureau of Labor Statistics, as of May 2010, was $30.22. Those in the 10th percentile made up to $8.50 per hour, and those in the 25th percentile earned up to $12.94 per hour. The median hourly wage was $22.39, and the 75th percentile made up to $39.54 per hour. The 90th percentile earned at least $60.02 per hour.
  
  

Teaching

• An average guitarist teaching beginning and intermediate guitar students can expect to earn between $30 and $60 per hour, according to David J. Hahn of MusicianWages.com. If you are well-known and are an excellent guitarist, you might charge up to $150 per hour. Some music teachers earn around $18 per hour. Your salary varies significantly as a teacher depending on the number of students you have.
  
  

Performances

• Working with a band to do live performances at weddings, in clubs and bars and in other live venues, can provide part of your yearly salary. The amount that you earn will vary depending on the venue, how many people are in the band, and how much the sound man or agent takes from those wages. About $100 per performance is average for musicians, according to MusicianWages.com.
  
  

Factors

• Where you perform plays a significant role in determining how many performances you can book. Your level of education, experience and talent also impact your salary. Diversifying your income sources is important for musicians as few full-time contracts are available. If you’re willing to travel, you might work with a touring band, musical theater or symphony orchestra and earn money as a union or non-union contract employee.