As the art market navigates an uncertain landscape, a new era of financial and operational restructuring is forcing artists, galleries, and industry professionals to adapt. Despite mounting pressure, 80% of auction house respondents anticipate an improvement in the art market this year.
The art market has long been characterized by its unpredictability, and 2025 is no exception. As the global economy continues to navigate an uncertain landscape, artists, galleries, and other industry professionals are facing a new era of financial and operational restructuring.
A Cautiously Optimistic Outlook
Despite mounting pressure on the global art sector, 80% of auction house respondents anticipate an improvement in the art market this year. This finding is consistent with ArtTactic’s Global Art Market Outlook 2025 report, which found that 23% of art market participants expect global market growth.
Salary Trends and Disparities
In terms of salary trends, the U.K. has seen a notable increase, with median salaries rising to £40,000 in 2024. However, this gain is largely eclipsed by inflation and the rising cost of living. In contrast, salaries in the U.S. have remained steady, although employee satisfaction with remuneration declined by 25.7%. The disparity between white professionals and those from other ethnic backgrounds remains a significant issue, with black professionals earning significantly less than their white counterparts.
Salary trends have undergone significant changes over the past few decades.
According to data from the Bureau of Labor Statistics, average hourly earnings for production and nonsupervisory employees increased by 42% between 2007 and 2020.
The rise of the gig economy has also led to a shift towards more flexible compensation structures.
In addition, technological advancements have enabled companies to offer remote work options, impacting salary trends in various industries.
The Rise of Supplemental Income
As the art market continues to evolve, many employees are turning to supplemental income as a way to make ends meet. In the U.K. and Europe, 54.1% of micro-business owners supplement their base income with additional work, reflecting an ongoing normalization of art jobs that often pay less than equivalent roles in other industries.
The Importance of Experience and Practical Skills
Higher education does not always lead to higher earnings in the art market. In fact, many industry professionals find that experience and practical skills are more valuable than formal qualifications. To maximize earning potential, individuals should focus on building experience and rising to leadership roles by their 40s and 50s.
The Challenges Ahead
As 2025 begins, art world employers face mounting challenges: tighter budgets, falling consumer spending, and rising operating costs. These pressures are prompting team downsizing, role consolidation, and a growing reliance on cost-saving strategies. However, despite these constraints, the SML report offers a cautiously optimistic outlook, suggesting confidence is beginning to stabilize and early signs of recovery are emerging.
The art world is plagued by issues such as underpaid and overworked employees, lack of job security, and limited career advancement opportunities.
According to a survey, 75% of artists struggle with financial stability, while 60% face mental health issues due to work-related stress.
The art world's gig economy-like structure contributes to these challenges, leaving many creatives vulnerable to exploitation.
Efforts are being made to address these concerns through unionization and advocacy groups.
A Call to Action
For employers, this means embracing more holistic hiring practices, investing in talent with broader and more flexible skill sets, reinforcing internal structures, and recommitting to diversity, equity, and inclusion. For employees, the call is to reassess career priorities, work-life balance, stay agile in the face of industry shifts, and invest in ongoing skill development and professional growth to remain competitive in a rapidly evolving field.
The art world offers a range of employment opportunities, from galleries and museums to auction houses and art fairs.
According to a report by the Bureau of Labor Statistics, there were over 150,000 artists and related workers employed in the United States in 2020.
This includes 'curators,' 'conservators,' and 'art historians,' as well as sales representatives and marketing specialists.
The most common employers are museums (22%), followed by galleries (17%), and then auction houses (12%).
As the art market continues to navigate an uncertain landscape, it is clear that both employers and employees must adapt to an evolving landscape. By embracing flexibility, innovation, and inclusivity, we can create a more sustainable and equitable industry for all.
