Median annual earnings of salaried music directors and composers were $31,310 in 2002. The middle 50 percent earned between $23,820 and $46,350. The lowest 10 percent earned less than $14,590, and the highest 10 percent earned more than $67,330.

Earnings often depend on the number of hours and weeks worked, a performer's professional reputation, and the setting. The most successful musicians earn performance or recording fees that far exceed the median earnings.

According to the American Federation of Musicians, weekly minimum salaries in major orchestras ranged from $734 to $1,925 during the 2002–03 performing season. Each orchestra works out a separate contract with its local union, with individual musicians eligible to negotiate a higher salary. Top orchestras have a season ranging from 24 to 52 weeks, with 18 orchestras reporting 52-week contracts. In regional orchestras, minimum salaries are often less, because fewer performances are scheduled. Community orchestras often have yet more limited levels of funding and offer salaries that are much lower for seasons of shorter duration. Regional orchestra musicians often are paid for their services, without any guarantee of future employment.

Although musicians employed by some symphony orchestras work under master wage agreements, which guarantee a season's work up to 52 weeks, many other musicians face relatively long periods of unemployment between jobs. Even when employed, many musicians and singers work part time in unrelated occupations. Thus, their earnings usually are lower than earnings in many other occupations. Moreover, because they may not work steadily for one employer, some performers cannot qualify for unemployment compensation, and few have typical benefits such as sick leave or paid vacations. For these reasons, many musicians give private lessons or take jobs unrelated to music to supplement their earnings as performers.

Many musicians belong to a local of the American Federation of Musicians. Professional singers who perform live often belong to a branch of the American Guild of Musical Artists; those who record for the broadcast industries may belong to the American Federation of Television and Radio Artists.