By Chron Contributor Updated February 23, 2021
Executive producers' roles are similar to those of corporate chief executive officers. They oversee the work of producers and ensure all films, TV shows and news broadcasts are completed on time and within budget. Executive producers are also prominent in the advertising and music industries, and with electronic games and theater companies.
Executive producers are usually the head of their respective film departments. Their responsibilities include hiring cast members, deciding on locations for shootings and coordinating the advertising and distribution of films, games and other productions. Executive producers earn average annual incomes above $100,000 per year.
Salary and Qualifications
Executive producers earned average annual salaries of $78,252 as of 2020, according to the job website Indeed. They also received an average of $16,500 in additional compensation. This is about 25 percent higher than the average wages the U.S. Bureau of Labor Statistics reports for a producer – $74,420 annually.
Most executive producers have at least bachelor's degrees in journalism, communications, business or arts management. Employers typically prefer that they also have four or more years experience as producers in their respective industries. Other important qualifications include creativity and management, leadership, communication, editing and negotiating skills.
Salary by Region
Through 2020, average regional salaries varied somewhat for executive producers. In San Francisco, executive producers made an average of $125,450 per year, according to Indeed. This was the highest paying city for executive producers. Coming in second was New York City, with an average at $125,378 – just shy of it's West Coast counterpart. In Washington D.C., executive producers made an average salary of $119,526. Los Angeles, the land of Hollywood magic, the average salary placed fourth at $106,885.
Contributing Factors
Executive producers usually earn more through experience. In the movie industry, for example, more experienced executive producers can usually select the scripts that make the highest profits, which earns them higher incomes. Executive producers usually share in the profits of movies – both at the box office and through DVD sales.
The advertising and public relations sector has overtaken motion pictures as highest-paid producers, with average wages of is the highest-paying industry for producers who, according to the BLS, earned $93,100 per year in 2019. Executive producers also probably earn more in movie industry and in TV crew roles, though the BLS doesn't report their salaries. Moreover, these professionals may earn more where demand in highest for their services – in major markets such as New York City and Los Angeles, for example.
Career Outlook
The BLS does not report job trend data for executive producers. It does, however, report job opportunities for both employed and self-employed producers, which are expected to increase 10 percent between 2019 and 2029. Executive producers can expect a similar number of job opportunities, though both rates are relatively average compared to other occupations. Job growth for these professionals will mainly be spurred by increased demand for movies and a greater number of distribution vehicles: streaming services, cell phones and other portable devices.
FAQs
As of Apr 13, 2024, the average annual pay for an Executive Producer in Los Angeles is $106,697 a year. Just in case you need a simple salary calculator, that works out to be approximately $51.30 an hour. This is the equivalent of $2,051/week or $8,891/month.
How much do top executive producers make? ›
Who gets paid more producer or executive producer? ›
In most scenarios, the Executive Producer will earn more on a project because of their significant responsibilities and ability to negotiate payment structures in addition to an upfront fee for their work. Depending on the scope of the Producer's work, they will typically earn less than the Executive Producer.
What level is an executive producer? ›
Executive producer (EP) is one of the top positions in the making of a commercial entertainment product. Depending on the medium, the executive producer may be concerned with management accounting or associated with legal issues (like copyrights or royalties).
Do executive producers get paid royalties? ›
In film and television “royalties” are referred to as residuals, and they are reserved for the creatives involved in the project. That being said, if an executive producer plays a direct role in the creative development of the script, they may have the right to earn residuals on their film or show.
Which is bigger producer or executive producer? ›
The executive producer may be higher on the totem pole, but they don't have nearly the amount of responsibility that the producer does. While an executive producer is integral in some stage of production, the producer is integral in all phases of production and works with all departments from beginning to end.
Where do executive producers get their money? ›
Since executive producers are often responsible for securing a large portion of the project's budget, an executive normally gets paid a percentage of the project's profits. If the executive producer has self-funded the project, there is even a chance that they could lose money in the event of a project underperforming.
How powerful is an executive producer? ›
They are responsible for raising the funding for the production, as well as making most, if not all, of the business decisions. Executive producers create and manage the budget, and must approve all changes and expenses. They also typically hire the director and most of the crew.
Do executive producers get paid more than actors? ›
Do Producers Make More than Actors? Producers do get paid more than actors when the film is successful, and from that, we mean Jurassic World kind of successful. But if the movie is kind of a flop, the actors usually make more. This is because the actors are usually brought to the film with a predesigned salary range.
Why do so many actors become Executive Producers? ›
Why do actors become executive producers? Actors become executive producers to gain more involvement in decision-making and creative control by influencing a project's direction. They can also increase production earnings by being more engaged in a project.
The Executive Producer tends to be the highest paying career in the film industry, as they typically control the project and oversee the financials of it.
Who is the most famous executive producer? ›
Steven Spielberg
Spielberg is known for producing some of the most successful films in Hollywood history, including Jaws, Jurassic Park, and Schindler's List. He has won multiple Academy Awards and is one of the most influential filmmakers of all time.
What is the personality of an executive producer? ›
Executive film producers are artistic and enterprising
They also tend to be enterprising, which means that they are usually quite natural leaders who thrive at influencing and persuading others. If you are one or both of these archetypes, you may be well suited to be an executive film producer.
Is it hard to become an executive producer? ›
The path to executive producing is multifaceted, demanding both creative vision and business acumen. It's not a job you apply for, but a title earned through years of experience and hard-won success.
How long does it take to become an executive producer? ›
Executive producer is the most senior role in a TV drama production. You have to work in television for many years before reaching that position. Most executive producers spend many years as producers so a good place to begin is as a runner, and then work your way up.
How much do executive producers make from a movie? ›
The estimated total pay for a Executive Producer is $156,315 per year in the United States area, with an average salary of $104,459 per year.
Do executive producers get royalties in music? ›
Producer royalties are a very important part of the music industry. Indeed, almost every music producer these days will ask for a percentage of your record royalties. This percentage of record sales is known as “points”.
What does an executive producer actually do? ›
An executive producer is a high-ranking producer who leads a film, audio, television, or music production by securing investor financing, overseeing the casting process, collaborating with the director, creating a distribution deal with a studio, and even organizing a marketing campaign to promote the production.
