"My Daughter wants to Be a Chef!
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Money
I hope that money is not why you want to become a Chef, and if so, someone has fed you the wrong information. To really sum it up, the best example I can give you is this:
If you take a lawyer, a computer analysts or a carpenter, after 20 years of doing a great job working for others, you can expect those three professionals to be making great money. They will usually own a house on top of the hill, including a pool with a view and a garage for both cars. Their kids will be in private school and on the weekends they will drive to the country house with six of their closest friends.
After 20 years of being a cook and then a Chef in all kinds of kitchens doing an amazing job, you can expect to be making OK to great money if you are very lucky. You may own a house, but it will most likely be at the bottom of the hill or you may not even see the hill at all from where you live. Your view is going to be of your neighbor's pink plastic flamingoes on the lawn and their pit bull. Your car will probably be on the street surrounded by snow with everyone else, and when you go to the countryside, you will be camping. Your kids are definitely not going to private school, but once they come out of school detention, they should be fine. No, really, jokes aside, in our trade, 65-70% of salaries are in the low to medium range at best. Think about it, an executive chef can make great money, but there is only one of those per restaurants, all the other salaries in the kitchen are below!
So you ask yourself why become a Chef? Well, it's simple - so the lawyers, computer geeks and carpenters have a place to go eat!
A word of advice: In general, being a Chef and owning your own restaurant is not a get-rich quick kind of career move. The chances of you actually making serious money before you want to commit suicide are very slim. It's a great experience to live through, but don't get into it for the money.
Obviously, you should not expect to make great money coming out of school; you will have to work your way up the ranks before you can afford to buy a Ferrari!
In general, the big places will pay you more than the small places.
A word of advice: No need to talk about money on your first interview. Find out if this place is for you first, and does it match your talents and will it make you grow into a better Chef. If you do decide to take the job, then ask about money, and don't sell yourself cheap.
Throughout the entire book, I will use the following terms to describe the money potential of that particular job. Keep in mind that these numbers are relative, because in some cases, you may be able to bypass the norm and get more money based on experience, luck and/or the desperation of the employer. I have seen cooks on the East coast making 15-20% less than on the West coast for the same type jobs. Being in a small town can also bring the salary down, as it is more of a captive audience, and many people want your job. The opposite can also happen, if you are the only chef available in town, it would pay off.
Depending on the company, some will pay you weekly, bi-weekly, bi-monthly, once a month, or on a contract basis. I always disliked the once-a-month format, as I prefer to have my money sitting in my account instead of the wealthy employer's account.
A word of advice: It is up to you to make sure that no mistakes are made on your pay cheques. Even accountants make mistakes. Depending on where you work, you may have to use an electronic punching clock, or a computerized magnetic card, or some other device not invented yet. Trust me when I say this: Always keep track in writing and on a daily basis of the hours you work. These tricks will save you many arguments with the payroll person. One forgotten hour a week at $10 an hour for a year will add up to $520 at the end of the year.
Listed below is the money breakdown for my relative scale. Keep in mind that these dollar figures are in US dollars, and figures can vary depending on the different countries or cities where you live, or where you are planning to go work.
Amazing money for a Chef; $70,000 or more a year
Great money is $40,000 to $70,000
Good money is $28,000 to $40,000
OK money is $20,000 to $28,000
Not so good money would be below $20,000. This is what you should expect when you are starting your career.
The expatriate money package can be great if you like traveling around the world. You will often be well paid per hour or salary and have free housing included. One example that comes to mind was this company looking for a sous-Chef with 10 years experience. You would work in Africa, you would get paid in US dollars, but the money was being deposited into a bank account in England (how's that for complex?) The tax laws in England may be somewhat different than where you live, and may offer some financial advantages - or not - when you re-enter your own country with your money. The tax laws can change every year in every country, so do some research before accepting any deal that sounds too good to be true.
A word of advice: It is not so smart to accept to be paid a wage in cash "under the table". First, if you get caught, it could mean serious trouble and second, if you ever want to borrow money for a house for example, the cash money you get won't be shown anywhere. So the bank may tell you that you don't make enough money to get your loan, even if you know you can pay for it.
You can expect to be making very good money after 7 to 12 years, obviously, depending on decisions you will make earlier in your career.
A word of advice: Start saving 5% to 10% from each pay cheque, starting at day one. Once the money is in your account, retirement money grows while you sleep, but don't be sleeping on the switch. Save from day one and you too can afford a condo in the Bahamas.
Some benefits can make up for less money on your pay cheque. Things like discounts in hotels around the world, fitness card memberships, stock options, traveling expenses to get to work, or a company car... just to name a few.
A word of advice: As a cook, the best thing you can do with some of your money would be to invest some of it ASAP. The bulk of the culinary positions around the world will only make OK to good money. Knowing these facts, it is best to invest into assets that gain value instead of things like cars or rental apartments that lose value every year. Once you find an employer that fits your long term needs, buying a house or condo nearby is one of the best moves you will ever make as a cook or Chef. Seek professional financial help.
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