How much do self employed interior designers make?
The national average annual salary for an interior designer was $58,810 in 2017, according to the U.S. Bureau of Labor Statistics. Factors such as place of employment and experience, can increase the earning potential for an interior designer markedly. Those interior designers who make a name for themselves in a given market, and are identified with high-profile designs, can expect to earn far more than the national average.
As an interior designer myself, I can tell you that the average annual salary is definitely above the national average. However, I also know that there are gradients within a given area that indicate the relative earning potential of a given set of skills. For example, an interior designer working in a given market might earn more than a similar role interior designer commuting between similar jobs.
So how do you determine the worth of an interior design? Well, the most reliable way is to do a massive open online course (MOOC) that will take you from zero to the most advanced level of interior design. The course costs $79,9500 and once you complete it, you will be considered a qualified interior designer. In other words, you will have earned a degree and a certificate.
The mark up for most goods is cost doubled. Other items like floor covering and kitchen cabinets is lower 10 – 20%. Some designers find it cheaper to just hire someone to do the designing. Other designers find it easier to find clients through referrals from past clients as well as from people in their business network.
Finding clients through referrals is the most difficult part of the interior design business. You need to explain to your clients why you are the best choice for their budget and what you offer that is different from everyone else. You also need to explain to them why you are different from the rest and why they should choose you over the rest.
The most challenging part of the job is convincing your clients that you can deliver on time. If you are lucky enough to find clients that are able to predict your schedule and budget, you will be able to impress them with your ability to deliver on time. Unfortunately, many clients that I work with are more like me – they are always on their phone constantly checking in with my company to see what I have to say.
As of this writing, the annual salary for an interior designer is $58,945. While this figure may not seem like a lot of money, consider that this is a 9 to 5 job description. As you add staff to help you, the salary will increase. So, whether you are looking at earning $66,000 or $72,000, your final salary will depend on the number of staff you have and the amount of work that is needed to be done.
So, how do you determine your salary? Well, you use a variety of different salary estimates. Some use the Bureau of Labor Statistics Current Population Survey data to estimate your salary. Another way to determine your salary is to speak with a certified public accountant. This salary is based on information provided in the most recent tax return and is therefore not guaranteed. To determine your actual salary, you should consult with your tax advisor or hire a salary evaluator to determine your worth.
As an interior designer, you are required to meet certain performance and productivity standards in order to keep your job.
How much do self employed interior designers make?
The Bureau of Labor Statistics reports that the top 10 percent earn $71,220 or more per year, while the bottom 10 percent of interior designers receive less than $23,440 per year. The median annual salary is $40,670 per year.
As of 2011, over one-third of interior designers working in the United States worked in specialized design services, earning an average of $52,870 per year. Those who worked for furniture stores and building material dealers averaged somewhat less, between $46,000 and $47,000 per year, while interior designers employed by architectural and engineering firms made an average of $57,950 per year. The few interior designers employed directly by the federal government reported one of the highest average salaries for their profession, $72,490.
As of 2011, interior designers in the Northeast and West enjoyed the highest average salaries in the country. The District of Columbia reported the very highest average income, $76,020. Connecticut ranked second at $67,390, followed by New York at $65,540 and Rhode Island at $62,520. With an average salary of $61,770, fifth-ranked Utah was the highest-paying state outside of the Northeast. The lowest-paying state was West Virginia, where interior designers averaged just $31,110 per year.
Between 2010 and 2020, the Bureau of Labor Statistics expects employment among interior designers to increase at a rate of about 19 percent. This is somewhat faster than the 14 percent average rate of growth expected for the American economy, and should result in 10,900 new jobs by the end of 2020. Interior design jobs at specialized design firms are expected to grow at an even faster rate of 27 percent. Because many firms rely on private clients, the job opportunities are expected to be best in more affluent areas of the country.
Interior designers who are employed by large architectural and design firms are usually paid a yearly salary. Those employed by retail stores typically earn an hourly wage, and may also earn a portion of their salary on commission. However, many interior designers and decorators are self-employed, and charge their clients in a variety of ways. Some charge a flat fee for a project, while others are paid by the hour or even by the square foot. Others charge clients based on the total cost of the materials used plus a certain percentage.
The annual salary for a freelance interior designer is $69,000. Salaried interior designers typically work for furniture stores, architectural firms, and design firms. Some work as many as 5 days a week. Self employed interior designers typically earn an average total compensation (includes tips, bonus, and overtime pay) of $68,000 to $82,000 per year. Many factors can increase or decrease the salary of a freelance interior designer, including experience, and your own personal rate.
How do I become a freelance interior designer?
As a freelance interior designer, you are in control of when and how often you schedule work. You are also able to schedule visits to clients, clients along with your own employees to see what they are looking for in a new building.
Freelance interior designers may specialize in a particular field such as hotel interior designing, residential interior decorating, or styles like modern, traditional, or homey.
You also have the option of becoming a partner in the creation of your own business, which in turn can help you attract the work you want to do. Simply put, a freelance interior designer is a self -employed interior designer who finds clients on his own rather than working for a company as a permanent employee. On the job, your role and the type of project you are involved with might be wide ranging.
The job of a freelance interior designer is a little more flexible in terms of work timing choices, project preferences, designing style and use of space. The duties, however, remain more or less the same every day of the year.
Freelance interior designers can be employees or work on a project from start to finish. There is a wide range of positions available and the average salary for a freelance interior designer in 2017 was $49,000.
Due to the fast-changing market economy, it is important to always have the latest information on the job situation and current market rates. Salary estimates are based on information provided by CareerCollections.com and current job opportunities are highlighted in blue.
