Many of you will be thinking about how will you make money once you are an architect?
On one side there is no concept of placements and on the other side the prospects of doing one’s own business seems better in the long run. So a question which pops up is which way to go and what to do? Be it business or doing a job at an architectural firm, the question that lingers on most people’s brain is that how will I make it big. This post aims to answer this exact question in relation to this industry.
After graduating as an architect, there are many options which are open. One can start working at one of the many architectural firms in the country, start their own business or venture into fields such as architectural journalism, being an architectural critic so on and henceforth. Let us discuss each one of these options one by one giving special emphasis to starting your own business.
Taking up a job at an Architectural firm-
This is the most popular option taken up by most architects after graduating from college. One of the pros of this decision is that it helps get you practical experience in the industry. This helps you build a valuable foundation of practical knowledge which can be used in the future when you open your own business.
The cons of the decision are that the pay for opening position jobs in the profession is extremely low. The average salary received after becoming an architect is Rs.15,000 that too in the metropolitan cities. So if you are thinking of working at a job in another town especially metropolitan cities such as Delhi, Mumbai…etc. your salary will probably just be enough to take care of your basic expenses (food, clothing, stay and daily transportation). Thus, we would say that you need to weigh the experience that you get against the pay as well as your chance of growing in the organization that you are working for. With 5 years’ experience, your pay will generally range from Rs.50,000 to Rs.1,00,000 a month..
Opening up your own business-
Though this is the most lucrative option in the long run, it does have its own risks in terms of not getting enough number of projects in the early days and the prospects of not getting regular pay.
The first thing that you need to do is register your company. This can be in the form of a sole proprietorship, partnership firm or a private limited. This is required specially if you want to do business in the long run. This also signifies to a third party that you are serious about your business and are in it for the long run.
The business that you start can fall into the following two categories. The first category is you start a design firm. A design firm only designs buildings and has no part in the execution part of it with the exception of site visits. The second category is starting a business which does turnkey projects. The latter option designs projects as well as executes them. This type of company also generally hires laborers, contractors and a number of other skilled workers on a permanent basis.
Be it a design firm or a turnkey firm, some of the things that you have to keep in mind are as follows-
Ø You have to create a great contact base and network a lot. People need to know that you have arrived as an architect and are ready to build.
Ø You need to be prompt and outspoken always taking the initiative.
Ø Making a list of probable clients and setting up meetings is another way of getting clients.
Ø Create a great portfolio of your designs
Ø Make an awesome looking website and logo to go along with your company
Ø Your designs need to be creative and well designed. They should be designed in a way which attract people’s attention and make them ask the important question about who the architect is?
We over the years have heard many a people talk about how the profession does not pay well. Let us give you a small example. A painting job in a project of 100,000 square feet can make you a profit of upto as much as Rs.10,00,000 and more.
Thus, there are opportunities too, to hit it big in the industry. Especially as the industry is still developing and is its nascent stages. The main focus should be to provide your clients with quality work. You start with small projects, graduate to bigger and still bigger ones. After a certain point, you can even develop your own townships, once you have sufficient capital and have made a name in the market or the city you are working in as a great architectural firm. Even a small township that you build quantifies into tens of crores of profits.
Thus, we truly believe that one can definitely hit a six when it comes to running your own business.
The third option is heading into unchartered fields such as architectural journalism, being an architectural critic and so on and henceforth. Something that should be kept in mind is that there are no ready jobs available in these fields. The opportunities are there but you need to take the initiative to convert them into your livelihood. Launching your own website to give your criticisms on buildings, write about architecture generally and so on and henceforth can be the possible forays into these fields. The main thing to be kept is that these related fields that we are talking are still in the nascent stages. Thus, if you become an authority in one of these fields the possibilities are endless.
After going through the article, you might be realizing that the opportunities in the field are endless and as the saying goes there is always space at the top.