21st August 2009, 05:42 PM
As I said earlier the archaeological market is worth ?150 million, 6,000 archaeologists, personally I think that is an overestimate of the number of people chasing that ?150 million. If this is the case then, on average each archaeologist is only generating ?25,000 per year to pay their wages, support a company and petrol various landrovers.
3,000 archaeologists competing for ?150 million of work only bumps the fee level per archaeologist up to ?50,000 - this is still very low. Basic financial management should show that wages should cover only 1/3 of the fees someone is bringing in. So an archaeologist, to earn ?15,000 should be doing ?45,000 worth of work to ensure that companies are stable, make profits and have reserves of cash.
On a market of this size you only need 1,500-2,000 archaeologists to ensure people are able to earn an adequate level of fees to provide for their pay assuming the pool of cash in the market stays stable.
3,000 archaeologists competing for ?150 million of work only bumps the fee level per archaeologist up to ?50,000 - this is still very low. Basic financial management should show that wages should cover only 1/3 of the fees someone is bringing in. So an archaeologist, to earn ?15,000 should be doing ?45,000 worth of work to ensure that companies are stable, make profits and have reserves of cash.
On a market of this size you only need 1,500-2,000 archaeologists to ensure people are able to earn an adequate level of fees to provide for their pay assuming the pool of cash in the market stays stable.