Josh Hutchings: Finance, Career, and Lessons from TV Designer
In this episode of Artistic Finance podcast, host Ethan interviews lighting designer Josh Hutchings. They discuss financial planning (or the lack thereof), making money in the entertainment industry, and strategies for financial stability. Recorded live at LDI in Las Vegas, this insightful conversation covers the importance of managing finances in a career where work fluctuates, and provides practical advice for creatives. Below is an insight into some of the topics covered in this Podcast.
How did you get started in lighting design?
Josh began his career working at a theme park in Anaheim at the age of 18, making $16.50 per hour. He worked his way up by gaining experience in theme parks, concerts, and eventually television. His diverse background allowed him to adapt across various entertainment genres.
How do you manage financial stability in the unpredictable entertainment industry?
Josh admits he didn’t have a financial plan early on and spent money freely. However, after the birth of his twin daughters, he realized the importance of planning. He now emphasizes building savings, working with financial planners, and maintaining a six-month financial cushion to prepare for industry fluctuations.
How do you find work as a lighting designer?
According to Josh, entertainment is a relationship-based business. He relies on long-term relationships with executive producers, showrunners, and directors. Networking, maintaining connections, and staying visible in the industry are key to securing jobs. He notes that “work begets work.”
How do you structure your income—W-2 versus 1099?
After years of juggling multiple W-2s and overwhelming his accountant, Josh switched to operating as an S-corp, which streamlines tax filing. His business invoices productions, and he pays himself a salary, helping with tax efficiency and financial planning.
What is your best financial advice for young professionals?
Josh stresses the importance of starting early with investments, especially in an IRA. He highlights the power of compound interest and recommends consistently putting money into savings and investments. He also encourages creatives to seek financial guidance from professionals to avoid common financial pitfalls.
Key Takeaways from the Episode
- Financial Planning is Essential
Josh learned the hard way that saving early makes a huge difference, and he now advises others to plan for industry slowdowns. - Relationships Drive Work
Building and maintaining strong professional connections leads to job opportunities. - Tax Efficiency Matters
Operating as an S-corp or LLC can simplify finances and provide tax advantages. - Start Investing Early
Putting money into an IRA or other investments early in one’s career allows financial stability later.
Entertainment Work is CyclicalThe industry’s ups and downs require financial preparedness to weather job shortages, such as those caused by COVID-19 and strikes.
Listen to this Episode on:
Website / Spotify / Apple Podcasts / YouTube
This episode of the Artistic Finance podcast is hosted by Ethan Steimel.
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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