Ten years ago I was finishing a master's degree in theater history just as my mom was finishing her master's degree in nursing. I had to explain to her several times why my master's degree did not automatically grant me better pay the way hers did.
Similarly, the number of trained and talented musicians is large, while the opportunities to make a living wage playing music are few. Here's a report from Denver about the situation for musicians there--I assume the situation is similar here. Am I right?
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