What is the average event planner’s salary?
How much you make depends on how much you charge. Sounds simple, right?
And yet a lot of event planners, regardless of experience, struggle with knowing what to charge their clients.
Some even feel guilty for charging what they’re worth for the fear of landing fewer clients.
But what would you rather do? More clients and less money, or fewer clients and more money?
If you’re anything like me and love what you do, you can easily find yourself putting in more hours than you’re charging for.
But it’s important to know your worth, and charge for it!
Knowing how to calculate if you’ll make money from an event is the key to your financial success, and while money shouldn’t be the only reason you get into event planning, it is an important one!
Knowing how to calculate whether or not you’ll make money isn’t just about the number of hours you’ll invest but it also depends on:
- Geographical location
- Level of education
- Year of experience
- Who you report to
- Events you specialize in
- Your performance level
- Full or part-time commitment
According to Salary.com, an event planner’s salary is between $45,541 and $124,515, depending on your level of experience as an event planner.
This event planner’s salary range is based on the following job description.
“Plans and organizes live and virtual meetings and events for an organization or external clients. Implements an event strategy to achieve objectives.
Researches and recommends event venues. Coordinates meeting logistics, including attendee registration, transportation, accommodations, meals, and technology. Conducts rehearsals and system checks of all equipment and connectivity.
Researches and maintains relationships with vendors for event support services. Coordinates budget planning and ensures that events stay within cost projections.
May be responsible for planning larger or more complex events. Contributes to defining the event strategy and vision. Typically requires a bachelor’s degree or equivalent.
Typically reports to a manager or head of a unit/department. Work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project.”
Let’s break the salary ranges down even further, by experience and country.
0-2 years experience $45,541 – $79,126
2-4 years experience $54,561 – $85,579
4-7 years experience $63,143 – $98,998
7+ years experience $71,977 – $124,515
In the United States
0-2 years experience $45,996 – $67,426
2-4 years experience $51,924 – $85,176
4-7 years experience $62,520 – $96,170
7+ years experience $69,637 – $121,383
Great news for anyone ready to start an event planning business.
This goes to show that event planners are in demand — no matter what the world is going through.
This is especially true if you continue to expand on your experience, like adapting to online or hybrid events.
The more experience you have, and the more (relevant) services you offer, the more valuable you become.
Experience + Value = more money
All of the factors I’ve mentioned, like experience, value, and geographical location, will determine how much to charge per hour.
Once you know that, you will need to estimate how many hours you average on a specific project, like budgeting, to determine how much you should charge per service.
Once you know how much to charge per service, you can create individual service fees and packaged deals
The ability to calculate what you can expect to earn in a year depends on what you charge for each of the services or packages you offer, multiplied by your projected clients.
But how do you figure out how many clients you’ll get?
One important step is to figure out how many clients you’ll need to keep your business going and start from there.
This will involve knowing:
- Financial goal
- Your timeframe
- Business expenses
- A client’s worth
How To Determine Your Value
I would be remiss to not talk about the guilt factor because many event planners struggle to ask for what we are worth.
It all boils down to a common mix of human emotions that are influenced by our sense of self-worth and confidence.
It’s okay. Almost all of us struggle with this, but that doesn’t mean we can’t overcome it.
How do you take the emotions out of asking for what you’re worth?
- Research the competition to see what they are charging
- Determine and believe in your value proposition that makes you unique
- Remind yourself that you are saving your clients time, and maybe even money, by having them hire you
- Offer a price range with various packaged options, to avoid those awkward “what’s your fee” conversations.
I hope these steps have helped you determine what you’re worth, and know your value.
Are you charging what you’re worth? If not, what’s your number one struggle? Share in the comments, and let’s see if we can help each other out!