My latest in Forbes covers the urgent need to expand entrepreneurship curricula in arts programs to help students diversify their skills and prepare for the disruptive and chaotic labor market. 🎭
Artists face a paradoxical challenge: pursuing further education in the arts often leads to financial fragility rather than flourishing careers. Yet, a glimmer of hope shines through for those who blend their artistic pursuits with business acumen. My research in the Journal of Cultural Economics and Artivate, alongside Jonathan Kuuskoski from the University of Michigan, reveals an encouraging trend: artists incorporating business courses into their studies not only navigate the market more effectively but also mitigate the earnings penalty typically associated with arts degrees.
🔍 The Earnings Gap and Entrepreneurship Education
We find that fine arts graduates earn 8.7% less than their peers across different fields. However, the addition of a business degree narrows this gap by half, highlighting the transformative power of entrepreneurship education for artists. Despite the slow adoption of such training due to curriculum constraints, those few who receive it demonstrate significantly better labor market outcomes.
🚀 Entrepreneurship = A Necessity, Not an Option
"The biggest barrier may not be cultural... There isn’t much space in most degree programs to add more coursework," explains Kuuskoski, stressing the importance of innovatively integrating entrepreneurship into arts curricula. This approach is not about diminishing the value of liberal arts or core requirements but about enriching the educational journey with essential market navigation tools.
The onus falls on institutions to pave the way for a new era where art and entrepreneurship intersect seamlessly. As we advocate for a curriculum that mirrors the realities of the contemporary labor market, we empower artists to not just survive, but thrive. "If anything, my experience confirms that the traditional route is not always required and sometimes the best way to learn is just to do," said Soula Parassidis, soprano and CEO of Living Opera.
🌟 We must narrow the gap between artistic passion and economic viability. By fostering an entrepreneurial spirit within the arts, we equip the next generation of artists with the tools to create sustainable ventures, driving both economic and societal growth. #ArtsEducation #Entrepreneurship #CulturalEconomics #Innovation #CareerDevelopment
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Professor at the University of Utah
3moThis is great! Many of my students have benefited so much from this institute. Congratulations!