Think you can dance for a career? Think again
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Here's a look at the minimum weekly pay scale at The Joffrey Ballet, which is typical of top-tier guild companies:

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First year apprentice: $390
Second year apprentice: $440
New dancer: $615
First year dancer: $700
Fifth year dancer: $940

"Certainly with the (AGMA) dance companies, dancers are paid well and they make a living," says Allton. "They're able to have families, buy properties. They can carve out a life."

Munger gives his own advice. "You have to specialize in a certain form of dance, but don't specialize too much," he says. "At this point, almost all modern dancers are taking ballet classes and almost all ballet dancers are taking modern classes. Plan on doing both, and work with a variety of choreographers. The most employable dancers are the ones that are versatile, the switch-hitters."

Unlike 30 years ago when a college dance degree made you suspect among dancers, your chances improve today if you have a sheepskin from a respected collegiate dance program, especially one that exposes you to a variety of choreographers. Remember: Expand your range, expand your job prospects.

Rhodes says his program at Juilliard costs about $35,000 per year in tuition. "However, like all major schools that seek to recognize talent, there is good opportunity to get scholarship monies if you can prove need," he says.

Not only will that college degree come in handy when your dancing days are over, some collegiate programs are affiliated with major dance companies, a great way to leap into the majors, albeit in a minor role to start. Many dancers begin as apprentices while still in high school, move up to new dancer status after a year or so, and if they're lucky, become a corps dancer after completing their collegiate training.

Company job or gypsy life
You may think you can dance, but can you pay the rent? The answer is a definite maybe, especially if you're willing to wear more than one set of shoes.

Every dancer's dream job, to perform with a top-tier ballet or contemporary company like Alvin Ailey or Merce Cunningham, is only realistic for the best of the best, and little wonder. Not only do their contracts include seniority raises and many other benefits you'd expect from any corporate job, but the dance season, which ranges from 32 to 45 weeks a year, means guaranteed income, at least by dancing standards.