An Overview of Cheerleader Salaries
Cheerleading is an exciting profession, but it can also be lucrative. Cheerleaders can make good money, depending on the level of competition and their experience. But what do we know about how much cheerleaders make?
According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for cheerleaders was $29,250 in 2019. That’s significantly higher than the national average for all occupations, which was just $38,640. However, this figure doesn’t tell the whole story because there are many factors that can influence a cheerleader’s salary.
Comparing Cheerleader Salaries Across Different Levels
The most experienced and successful professional cheerleaders can make six-figure salaries. For example, the Dallas Cowboys Cheerleaders reportedly make up to $150,000 per year. But these salaries are not typical; most professional cheerleaders make far less. According to one survey, the average annual salary for professional cheerleaders is just $25,000.
At the college and high school levels, cheerleaders typically receive no pay, although some teams may offer small stipends or scholarships. In fact, many cheerleaders must pay out-of-pocket expenses for uniforms and travel costs. As one former college cheerleader said, “We were expected to pay for our own uniforms, warm-ups, and shoes, which could easily cost upwards of $500. We also had to pay for travel to competitions, which could range from a few hundred dollars to thousands depending on the distance.”
A Look at the Factors That Influence Cheerleader Salaries
The amount a cheerleader makes can vary greatly depending on a number of factors. Experience is a major factor, with more experienced cheerleaders typically earning higher salaries. Location is also important; cheerleaders in larger cities often make more money than those in smaller towns. The popularity of the team is also important. Teams with larger fan bases often have bigger budgets and can afford to pay their cheerleaders more.
Exploring the Economic Impact of Cheerleading
Cheerleading can have a significant economic impact on local communities. Professional teams generate revenue through ticket sales, merchandise, and sponsorships. This money helps support the local economy by creating jobs and increasing spending on food, lodging, and other services. In addition, many teams host cheerleading camps and clinics, which bring in additional revenue.
The National Football League (NFL) has estimated that its 32 teams contribute more than $5 billion to their local economies. That’s an impressive figure, but it’s important to remember that professional cheerleaders are part of that equation.
Examining the Benefits and Drawbacks of Being a Professional Cheerleader
Being a professional cheerleader can be a rewarding experience, but it’s important to understand the potential drawbacks. Cheerleaders are typically paid hourly wages, which means their income can fluctuate depending on how many games they attend and how many hours they work. In addition, cheerleaders may be required to attend events outside of game days, such as photo shoots and promotional appearances.
On the plus side, professional cheerleaders often receive generous benefits packages. These may include health insurance, retirement plans, and travel expenses. They also get to travel to away games, meet celebrities, and perform in front of large crowds.
Creating a Financial Plan for Professional Cheerleaders
Professional cheerleaders should create a financial plan to ensure their long-term success. This requires setting goals, determining expenses, and planning for retirement. It’s also important to understand the tax implications of being a professional cheerleader. Most cheerleaders will owe federal, state, and local taxes on their income.
In addition, cheerleaders may be responsible for paying self-employment taxes if they are classified as independent contractors. They may also need to pay taxes on any performance-related bonuses or endorsements they receive. A financial advisor can help cheerleaders navigate the complex tax system and ensure they are compliant with all applicable laws.
Understanding Tax Implications for Cheerleader Salaries
Cheerleaders who receive salaries or wages are subject to federal, state, and local taxes. Federal taxes are calculated based on the cheerleader’s taxable income, which is determined by subtracting deductions from gross income. State and local taxes depend on the cheerleader’s residence. Cheerleaders may also be subject to Social Security and Medicare taxes, as well as unemployment taxes in some states.
It’s important for cheerleaders to understand their tax obligations and stay compliant with all applicable laws. Failing to do so could result in penalties or even criminal prosecution. A qualified tax professional can help cheerleaders understand and comply with their tax obligations.
Conclusion
Cheerleaders can make good money, but the exact amount depends on a variety of factors. Professional cheerleaders can make six-figure salaries, while college and high school cheerleaders typically receive no pay. Cheerleaders should also understand the tax implications of their income and create a financial plan to ensure long-term success.
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