Jane Cox: Art, Academia & Financial Reality
In this episode of Artistic Finance, host Ethan Steimel sits down with acclaimed lighting designer and educator Jane Cox—a Tony Award winner whose career spans Broadway, academia, and collaborative innovation. With characteristic wit and honesty, Jane shares her journey through the financial maze of freelance theater work, the stability of a full-time academic job, and the values that guide her decisions as both an artist and employer. From paying off student loans with a credit card to advocating for living wages in the arts, this candid conversation is essential listening for anyone navigating the intersection of creativity and money. Below is an insight into some of the topics covered in this Podcast.
How has Jane Cox navigated a life in theater financially—especially as a freelancer?
Jane candidly shares that for much of her career, her finances were “terrible.” As a freelance lighting designer in the nonprofit theatre sector, she accepted early on that pursuing her art was “financial madness.” She didn’t expect to earn a reliable living solely from theater work and often lived month to month. Her attitude was shaped by her upbringing in Ireland, where a strong social safety net created less financial anxiety, but that mindset didn’t translate well to the American system. She worked numerous freelance jobs, sometimes relying on credit to get by, and only began to stabilize financially at age 45 when she took a full-time academic job at Princeton.
What did Jane learn the hard way about student loans, taxes, and debt?
Jane offers an honest cautionary tale: she took out $50,000 in student loans for NYU without fully grasping the repayment system, assuming it wasn’t even meant to be repaid in full. After graduating, she began paying off those loans with credit cards—an incredibly high-interest decision that she now regrets. Eventually, her mother helped her refinance by paying the debt off directly, and Jane repaid her at a manageable rate.
Similarly, she warns freelancers to pay quarterly taxes. When Jane and her husband failed to do so one year, they received a massive tax bill they couldn’t afford. This led to a multi-year installment plan with the IRS.
How did a full-time academic job change Jane’s financial life?
At 45, Jane accepted a full-time job at Princeton University—despite advice from her agent to stay freelance and pursue more Broadway work. The position brought a steady income, health insurance, automatic retirement contributions, and lower taxes compared to her freelance years (when her effective tax rate hit 50%). The shift drastically improved her financial security and allowed her to start saving for retirement—for the first time.
Though the job limited her flexibility for commercial theater gigs, Jane doesn’t regret it. She emphasizes how essential employer-backed retirement programs and W-2 benefits are, especially in contrast to the instability of 1099 freelance work.
What are Jane’s values around paying people fairly—and how does that relate to money?
Jane believes strongly in paying a living wage, even when it exceeds the industry’s “going rate.” Whether hiring assistants or babysitters, she tries to calculate what someone needs to live, not just what others are paying. She acknowledges this sometimes costs more than she can easily afford, but sees it as an ethical obligation and a smart investment in relationships.
She also notes a gender gap: in her experience, male assistants typically ask about pay upfront, while women often do not—sometimes taking jobs without even discussing compensation.
What long-term financial advice does Jane offer for those pursuing creative careers?
Jane emphasizes realism and resilience. She encourages creatives to diversify—accepting that the title “lighting designer” may open doors, but the actual work (and income) may come from a variety of sources: teaching, academic roles, tech gigs, etc. She’s also an advocate of pragmatic solutions like job-sharing or combining teaching with freelance design work.
She urges freelancers to know their tax obligations, budget meticulously during lean times, and understand that being “bad with money” often just means being in an industry that doesn’t support stable incomes.
Key Takeaways from the Episode
Freelance Theater Work Is Financially Fragile
Jane candidly explains that working in nonprofit theater is rarely a financially sustainable path. A career in lighting is possible—but a reliable, well-paid career in theatrical lighting design is extremely rare without additional income sources.A Full-Time Academic Job Brought Financial Stability
At age 45, Jane accepted a full-time position at Princeton University. It provided not just steady income and benefits, but also automatic retirement savings and a significantly lower tax burden than freelance life, where she was taxed at nearly 50%.Student Loan Debt Was a Long-Term Struggle
Jane took out $50,000 in loans for grad school at NYU—then paid them off using credit cards for over a decade. She ultimately refinanced her debt through her mother, repaying her at a fairer rate. Her story is a warning against using high-interest credit to manage education debt.Pay People a Living Wage—Not the Market Rate
Whether hiring assistants or babysitters, Jane emphasizes the importance of paying what people need to live, not just what the industry deems standard. It’s an ethical practice that strengthens relationships and community trust.Budgeting & Taxes Are Survival Tools for Artists
Jane has created detailed budgets during lean times and stresses the importance of paying quarterly taxes to avoid major end-of-year surprises. She urges freelancers to understand their real obligations and avoid financial denial—even when the truth is hard to face.
Listen to this Episode on:
Website / Spotify / Apple Podcasts / YouTube
This episode of the Artistic Finance podcast is hosted by Ethan Steimel.
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Editor's Note: At StageLync, an international platform for the performing arts, we celebrate the diversity of our writers' backgrounds. We recognize and support their choice to use either American or British English in their articles, respecting their individual preferences and origins. This policy allows us to embrace a wide range of linguistic expressions, enriching our content and reflecting the global nature of our community.
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