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Be Cautious about Quitting your Day Job to go into Marijuana Biz

If you’re switching careers to take advantage of the growth in the marijuana industry, you may want to temper your ideas about getting rich, at least right away.

David Royse | LedeTree

Nearly half of the people working in the emerging cannabis industry took a pay cut to take on their new enterprise, according to survey information from New Frontier Data.

In a survey that had more than 1,700 self-selected respondents to New Frontier Data’s 2017 Diversity in Cannabis Report, 46 percent said they took a pay cut when they went into the cannabis industry. The respondents worked in several different aspects of the industry.

Cannabit - Change in Compensation: Working in Cannabis

More than one in three (35 percent) said they took a “big” pay cut to join the cannabis industry. Only 8 percent said they got a “big” pay raise by getting into the marijuana industry.

Another 14 percent said they were making about the same amount of money, while about one in ten said got a small pay cut and about the same percentage said they enjoyed a small pay bump.

The survey was co-sponsored by Women Grow.

About David Royse

David Royse
David Royse is the Editor-in-Chief of Ledetree.com. He has been a professional journalist for more than 20 years, including stints with The Associated Press and The News Service of Florida. He enjoys writing about health and medical science, and hopeful stories about scientific breakthroughs and new technology.

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