Earn More MoneyJuly 19, 2021August 30, 2021

The Earnings of A Wedding/Event Planner

Most. if not, everyone has planned an event at one point or another. Regardless of who it’s for, it has most likely happened. Therefore, many of us know how stressful, time-consuming, and tedious it can be. Furthermore, if you have many tasks to do, it can become quite overwhelming. Take planning a wedding for example. Planning a wedding can be one of the most stressful experiences an individual may go through. This is due to the fact that there are many aspects that go along with it. For example, planning food, entertainment, venue, etc. These are only some of the aspects and do not include more personal things that you will need to do. This includes but is not limited to makeup, attire, and ring purchasing/sizing.

With that being said, there is no surprise that there is a job that is specialized in event planning. Therefore, we will get into what it means to be an event planner. This means going through a few aspects. This includes what an event planner does/what their duties are, how to become one and how much money you can potentially earn. This will hopefully give a holistic view of event planning.

What Is An Event Planner?

An event planner does exactly what the name implies, plans events. However, an event planner will usually be given a list of everything that needs to be done and organize the event. For example, let’s say you’re having a wedding. A wedding planner will make sure everything is planned and organized. However, you can essentially choose what you want them to take care of. Therefore, say you want to take care of the seating arrangement because your guests have very specific requirements. That is something that you can do and leave that out of the event planner’s job. However, the planner will most likely find the right tone, venue and develop a menu that suits everyone’s needs.

An important thing to note is that there is a difference between both event planners and coordinators. However, this does not mean that a planner cannot fulfill the job of a coordinator and vice versa. Event coordinators typically do not get to deal with the design of the wedding. However, they are in charge of how smoothly the event unfolds. This means they look after and make sure that everyone makes it on time. This means caterers, bands, etc. Furthermore, event coordinators will make sure that the itinerary is met and followed exactly. The coordinator will often find vendors for things that are needed such as food.

Typically, coordinators and planners work in conjunction with each other as planning a large event can be too much for one person to handle. However, with a smaller group, it is completely possible to fill both roles yourself. To put it into context, large companies usually have two coordinators per planner. This is due to the fact that large companies usually have events where hundreds or even thousands of people are planned to attend. Therefore, it may be too much for one person to handle. As a result, having two or more coordinators and planners will lighten the load on everyone. If there is a minimal amount of stress, it reduces the chances of something going wrong or an oversight.

The takeaway from this section is that planners create the even and coordinators help make it a reality. The planner workers work within the ideas of the hosts. However, the coordinators work with the logistical tasks. Mixing these two jobs together will create a cohesive event.

How Do You Become An Event Planner?

Event planning is quite interesting. This is due to the fact that there are a few different ways of becoming one. If you’re looking to work for a company that specializes in event planning, chances are you will need a degree. Luckily, there are many programs that offer this. For example, Algonquin College offers a two-semester program for event management that starts as early as fall 2021. This course covers all the basics of event management and prepares you for the career you’re looking for. However, the downside to this is that there is tuition, just like any other college or university.

These courses can sometimes be over $6,000. However, you will have the potential to earn significantly more than that. Therefore, it’s up to you to determine whether or not it’s worth it. Although, many companies do require courses to be completed or a college degree.

If none of that sounds good to you, there is always the freelance route. In Canada, there is no regulation for event planning. Therefore, it is not mandatory that you have a certification that says you’re qualified. However, having the certification helps. Therefore, if you learn the basics of planning and management, you can start your business relatively soon. However, gaining customers and marketing is a topic for another article. The benefit of this is that you can control how many clients you take and how much you charge. In essence, you can earn significantly more than someone who is salary. However, like any business owner, you will take over much more risk. Furthermore, you will have the added stress (and income) from employees you may hire. There are a wide array of possibilities. Therefore, see which option will work for you best.

The Potential Earnings of An Event Planner

The earnings of an event planner can be quite volatile. This is for a few reasons. If you work for a company, you may get paid hourly or salary. Therefore, in that regard, the earnings will be stable. However, if you’re freelance, you will see that certain seasons have higher rates of events. For example, in the summer there are many events that take place. Indoor and outdoor concerts for example. However, events such as weddings take place usually in the summer season when the weather is warmer. Therefore, in the winter you will find a downturn in clients’ interest unless it is Christmas time. This does not mean it will be zero. Many people continue to host events in the winter.

In terms of earnings, based on 157 salaries, event planners earn nearly $50,000 per year. However, it is important to note that this is based on small sample size. Therefore, it is completely possible to earn more than this amount. For example, if you’re a freelance event planner and have a small amount of (or work by yourself), you can earn significantly more than this. However, a few criteria need to be met.

The first is that you price your services accordingly. Make sure to not under or overcharge. The second is how frequently you’re working. If you have a large number of clients and are constantly working, you will, in turn, earn more money. The last is customer satisfaction. If your customers are always satisfied, you will benefit for two reasons. The first is that they will recommend you to others. The second is that they will most likely turn into repeat customers.

The takeaway is that you can start your event planning business as soon as you want. Furthermore, you can earn quite a considerable amount of money. However, you must first know the fundamentals of event planning and business management in order to be successful.

Shameed Chris Khan

Shameed is just a man on a mission to help those around him gain financial success. Obsessed with writing about all things finance, this GTA native is constantly learning and sharing his experiences with others.