In Episode 190 of Artistic Finance, host Ethan Steimel sits down with set designer Vincent Gunn to explore the financial realities of working in live theater. From tracking work hours and negotiating pay to managing retirement accounts and navigating early-career struggles, Vincent shares practical tools and honest reflections on valuing creative labor. Below is an insight into some of the topics covered in this Podcast.
How do you track your time as a freelance set designer, and why is it important?
Vincent Gunn, a New Jersey-based set designer, has created a low-tech but effective system to track his work hours. He uses the Notes app on his iPhone to log daily hours per project, totals them weekly, and transfers key data into a spreadsheet that calculates average hours, pay per project, and pay per hour. This method helps him stay conscious of his workload, avoid burnout, and evaluate whether he’s being compensated fairly.
He emphasized that tracking time is critical for freelancers because there are no built-in limits on hours worked—so creatives need to build those boundaries themselves. Knowing how many hours he puts into a project allows him to negotiate fees more effectively and decide whether to scale back effort on lower-budget projects. “If I see I’ve already logged 80 hours on something, I know I can’t put in another 20 just for perfection,” he said. This also allows him to argue for higher pay with clear evidence.
What’s the most valuable financial habit you’ve developed in your career?
Vincent said without hesitation: “Tracking my hours.” While simple, it has transformed how he values his labor. When starting out, he found it easy to undervalue his time, taking on many unpaid or low-paid gigs. Tracking helped him quantify his effort and reinforced that his time has value—even short phone calls or last-minute requests.
Additionally, he now sets mental boundaries for time investment per project and uses the data to advocate for better pay. For example, when a company wants to rehire him, he can cite exactly how many hours he worked last time and show the effective hourly rate. That clarity often helps others agree to a higher fee.
What financial mistake did you make that others should avoid?
Vincent candidly shared a major misstep: he contributed to a retirement account for several years, but the funds weren’t actually invested. “I thought it was growing,” he said, “but it was just sitting there in cash equivalents earning tiny interest.” This meant he lost years of potential market gains. He only caught the error after listening to Artistic Finance and investigating further.
His advice? Always double-check that your IRA contributions are actually invested in stocks, index funds, or other growth assets—not just sitting in the account. He now invests in the S&P 500 index fund FXAIX and suggests others do the same as a low-cost, hands-off option. “Setting money aside is step one, but don’t stop there,” he urged. “Actually invest it.”
How did you manage financially right after college, and what role did privilege play?
Vincent graduated in 2018 and made about $16,000 his first year, despite working constantly. That included an unpaid internship and multiple small theater gigs. He lived with his parents in New Jersey, which allowed him to avoid rent—a significant advantage.
He acknowledged this geographic and familial privilege made his career launch feasible. “It’s easier to break into New York theater when you don’t have to pay New York rent,” he said. This access allowed him to accept underpaid jobs and slowly build experience. He also pointed out that internships like Williamstown require participants to cover food and lodging, adding another layer of financial privilege to career development in the arts.
What financial systems do you use to stay organized?
In addition to tracking hours in Notes, Vincent maintains a detailed spreadsheet he updates regularly. It includes:
All employers and productions
Pay per show
Type of tax form (W-2 vs. 1099)
State where work occurred (for tax filing)
Hours worked per show
Total income and average hourly rate
Vacation time and under-40-hour weeks
Key Takeaways from the Episode
Track Your Hours Religiously
Keeping a simple daily log of hours worked (even in the Notes app) empowers freelancers to understand workload, set boundaries, and calculate real hourly rates. This can be a powerful tool in fee negotiations and burnout prevention.Value Your Time Early
New designers often underestimate the worth of their time. Tracking hours, even for unpaid prep or meetings, reinforces that every minute has value and helps establish healthier work habits.Investing ≠ Just Saving
Contributing to a retirement account isn’t enough—you must actively invest the funds. Vincent shared that he unknowingly left contributions uninvested for years. Always double-check that money is moved into stocks, index funds, or ETFs, not sitting in cash.Financial Privilege Plays a Role
Living at home after college gave Vincent a financial cushion that made underpaid gigs and unpaid internships possible. Recognizing geographic and economic privilege helps frame the challenges newer artists may face.Organization Supports Negotiation
Vincent uses spreadsheets to track employers, fees, tax forms, hours, and average pay per project. This system helps him spot trends, prepare for taxes, and make a stronger case when requesting fairer compensation.
Listen to this Episode on:
Website / Spotify / Apple Podcasts / YouTube
This episode of the Artistic Finance podcast is hosted by Ethan Steimel.
This post was last modified on July 19, 2025 9:13 pm