Finances of Being an Actress with Victoria and Lindsay
Acting and Finances with Victoria and Lindsay
On this episode of Financially Naked: Stories from The Financial Gym, our host is Victoria Sechrist, Boston-based Level 3 Trainer. She is joined by her client, Lindsay Rootare, to discuss Lindsay’s job at Slice, the pizza app; working as an actress, writer, producer, and director; and Lindsay’s podcast.
Podcast Notes
After six months of working together, Victoria realized that Lindsay grew up in the same area in Michigan where she went to college.
Lindsay now lives in Manhattan and her full-time job is at Slice, but she has so many interests that produce income. When Lindsay first graduated from college, she was living in the city, and as she was trying to find work as a performer and a creative person, she did the classic side gigs like waitressing and Task Rabbit. It is draining juggling a lot of side gigs.
She was able to transition one of her side gigs, selling merchandise at broadway shows, into a full-time job, because they lost a manager. Lindsay very quickly rose up to be the Director of Operations for the broadway producer’s company.
She liked working at the theater, because it was nights and weekends and it didn’t interfere with auditions. She wanted a job that was flexible and allowed her more time off, so she took a job at a startup. She was able to work from home and it offered unlimited vacation time.
After the first startup closed, she searched for unlimited vacation time on indeed.com and that is how she found Slice. She could work from home and take days off as needed.
Lindsay primarily works on camera, in television, and those jobs are on eight-day schedules, so time off has never been an issue with work.
Lindsay is a member of SAG-AFTRA, which is a milestone in acting careers. The easy way to get in is by getting three waivers as an extra on a SAG-AFTRA production. The more difficult option to become eligible is by getting signed on for a principal or speaking role in a SAG-AFTRA production.
Lindsay became SAG eligible through producing a project. She started her own production company in 2011, and she produced a web series through a new media contract through SAG and she casted herself, which made her eligible to join. She chose not to at the time.
In 2016, Lindsay was cast as a principal in an LG commercial and she had to join SAG-AFTRA. When you are a member, they establish a minimum pay and it varies from contract to contract.
The basic feature film, not at a studio, but an indie film, on an ultra low budget contract has a minimum pay of $125 per day (eight hours). There are bumps for different things that raise that amount, like bringing your own clothes, if there is smoke, if there is water, etc. A modified low budget contract pays $336 per day. Recently Lindsay did a set for AMC and that paid a little over $1,000 a day.
Out of the payments, actors need to pay a percentage to their agent, manager, publicist, legal fees, and taxes. Your take-home pay is about half and you may not have another booking that year. It is difficult to plan around.
With recent tax changes, there are a lot of deductions, like agent fees and manager fees, actors are no longer able to take. Lindsay cannot write anything off and now she owes instead of getting a refund. It is devastating to those whose main job is acting.
Lindsay is going to be in a recurring role on AMC’s Dispatches from Elsewhere, in March 2020. She did two episodes in Philadelphia, which is only 80 miles away, and she made $1,000 per day. She didn’t qualify for mileage or the travel per diem.
She didn’t know what time it was going to be filmed on a Friday, and she doesn’t have a car, so Lindsay left New York on Thursday night on a bus and she got an Airbnb. She worked from home all day Friday and got a call that her call time was at 7:30 that night. She had to get another night at her Airbnb, because it was an overnight shoot.
She spent $325 for the Airbnb, $30 for the bus, $75 for three meals, then she paid 10 percent to her manager, 10 percent to her agent, and she had to pay Pennsylvania taxes, New York taxes, and union dues. From the $1,000, she made about $250 by the end of it.
Lindsay is happy for the stability of her job at Slice, because it offers her health insurance and retirement benefits, and it allows her to pursue acting. There are so many expenses that come with acting, including headshots, web hosting, and marketing.
There is a big hurdle going from co-star (few lines, one scene) to guest star (the main plot of the episode, all scenes). Sometimes managers and agents will use a strategy where they book an actor as a guest star and bill as a co-star, so the actor gets the experience and the production saves money.
Managers are usually they are there for career guidance. An agent is about the business and handles contracts and negotiations and submits you for projects.
The hardest part for Lindsay is staying consistent with her finances and sticking with the plan, there are a lot of expenses when she gets called for an audition.
Lindsay has a blog and podcast called The Hand Me Up Club. Use what you already have. If you can’t, borrow it or buy it second hand. Try to wear your clothes at least 30 times.
Random Three Questions
What is your favorite type of pizza?
If it was your last night on earth, what would you eat?
What is a show that you have been watching recently?
Resources Mentioned
AMC Show - Dispatches from Elsewhere: https://www.amc.com/shows/dispatches-from-elsewhere
LG commercial: https://youtu.be/zV3I1owTVFU?t=5
The Hand Me Up Club: https://www.handmeup.club/