Understanding your true earnings: base pay + commissions + tips + benefits + perks. Calculate your total compensation package.
Many beauty professionals underestimate their true earning power by only looking at base pay.
## Components of Total Compensation
### 1. Base Pay
- Hourly wage: $12-$25/hour
- Commission: 40-60% of service revenue
- Salary: $35,000-$60,000/year
### 2. Tips (Often 30-50% of total income)
- Cash tips: Hard to track without system
- Card tips: Automatically recorded
- **KwickStudio benefit:** Never lose a tip to poor tracking
### 3. Benefits (Worth 15-30% of base)
- Health insurance: $6,000-$12,000/year value
- Retirement match: 3-6% of income
- Paid time off: $2,000-$5,000/year value
- Education/CE: $500-$2,000/year
### 4. Perks
- Free/discounted services
- Product discounts
- Flexible scheduling
- Booth rental vs employment choice
## Real Example
**Hair Stylist - Commission Model:**
- Base (40% comm): $45,000
- Tips (avg 18%): $15,000
- Retail commission: $3,000
- **Total Cash:** $63,000
**Plus Benefits:**
- Health insurance: $8,000
- 3% 401k match: $1,890
- 2 weeks PTO: $2,420
- CE reimbursement: $1,000
- **Total Comp:** $76,310
## Why This Matters for Financial Access
When applying for loans, you need to prove **all income:**
KwickStudio income reports include:
- Service revenue (commission calculation shown)
- All tips (cash + card)
- Retail commissions
- Average monthly total
- Year-over-year growth
These comprehensive reports help you qualify for:
- Higher loan amounts
- Better interest rates
- Premium credit cards
- Business financing
[Full guide with compensation calculator and negotiation tips...]
## Components of Total Compensation
### 1. Base Pay
- Hourly wage: $12-$25/hour
- Commission: 40-60% of service revenue
- Salary: $35,000-$60,000/year
### 2. Tips (Often 30-50% of total income)
- Cash tips: Hard to track without system
- Card tips: Automatically recorded
- **KwickStudio benefit:** Never lose a tip to poor tracking
### 3. Benefits (Worth 15-30% of base)
- Health insurance: $6,000-$12,000/year value
- Retirement match: 3-6% of income
- Paid time off: $2,000-$5,000/year value
- Education/CE: $500-$2,000/year
### 4. Perks
- Free/discounted services
- Product discounts
- Flexible scheduling
- Booth rental vs employment choice
## Real Example
**Hair Stylist - Commission Model:**
- Base (40% comm): $45,000
- Tips (avg 18%): $15,000
- Retail commission: $3,000
- **Total Cash:** $63,000
**Plus Benefits:**
- Health insurance: $8,000
- 3% 401k match: $1,890
- 2 weeks PTO: $2,420
- CE reimbursement: $1,000
- **Total Comp:** $76,310
## Why This Matters for Financial Access
When applying for loans, you need to prove **all income:**
KwickStudio income reports include:
- Service revenue (commission calculation shown)
- All tips (cash + card)
- Retail commissions
- Average monthly total
- Year-over-year growth
These comprehensive reports help you qualify for:
- Higher loan amounts
- Better interest rates
- Premium credit cards
- Business financing
[Full guide with compensation calculator and negotiation tips...]