Various explanations…
A lot of the pros, especially in Silicon Valley, come from generational wealth also. Or they married well or both. And again, once you have money it’s easier to make money, so the commissions on six figure horses are way better than on four figure horses, and once you’ve got extremely wealthy clients there are many more opportunities for various formal or informal levels of sponsorship… or simply very high training costs.
Some of that generational wealth isn’t in bank accounts but in contacts as the child of trainers, which also creates opportunities.
Honestly, housing in Silicon Valley has been hella expensive since at least the 1980s, so nearly everyone living there now comes with some sort of generational wealth, even if it’s merely that you inherited a million dollar 4 bedroom ranch-style tract home fixer upper that your parents bought in the 60s.
As everyone has said… generational wealth… billionaire level businesses that are recession-proof, etc.
It’s a new day and a new ballgame at the higher levels of WEC, WEF, HITS, and DIHP. You might be able to get away with doing less for less money at some of the more local A rated circuits or regional/Channel 2 shows, but if you’re consistently showing at the bigger venues, and have multiple horses, your bill monthly is easily in the 5 figures.
It’s becoming less likely for someone even making $150-200k annually to afford A-Circuit showing and being in a full-training program comfortably without a side gig or additional assistance from a spouse’s salary or family help.
My parents actually did the math on this when I was showing 10+ years ago. This was in South Central Pennsylvania, for reference.
I think from 2010 - 2014ish we spent around $250k all in to maintain and show ONE children’s/junior hunter (occasionally a second for a month or two here and there) on the local A rated level so we could qualify for indoors and the local equitation finals. This was full board, but not full service, lessons/pro rides and an average of 15ish shows a year. Some local shows where we would show off the trailer, some away where we would travel. We didn’t go to Florida. I don’t believe this number included the purchase price of the horse.
With inflation that would be roughly $90k a year in 2024 if my math is correct… which sounds pretty spot on.
Edit: we were by no means anywhere near billionaires, but solidly mid six figures a year when both my parents were working. We didn’t come close to even thinking about showing multiple horses and wintering in Florida. It also wasn’t a top priority for them. I do know people that have refinanced their homes to buy horses and show at WEF, so it’s also largely a matter of your priorities.
To answer your question - I don’t know how people do it. I’m pretty certain I won’t be doing it again anytime in the near future.
One perk to being a trainer is you can ride the ones that can’t get sold; be that because of quirks, general non-jr/am friendliness, or ppe red flags that you feel you can manage better than the average ammie. You can get a lot of horse for a fraction of what an average-riding jr/am has to pay to be competitive.
Second perk is many of your horse show fees get covered by clients, like hotels. And you’re being paid to train, not paying for training (or daycare). You’re also probably hauling your own and saving a ton of money there.
Third perk is that everything your horses do is a tax write off.
Besides the obvious generational wealth which is surprisingly common in equestrian circles particularly in the US…
I find that the adults that have the money, typically don’t have the time. The people that have the time often don’t have the money.
In case of kids, I find it’s normally dad working a really high paying job and the mom having the time to do the hobby incl. traveling to shows. In one particular case I know they are not even generational level wealthy, but dad works a lot (never seen him in fact), the teen daughter who rides is the last of three kids at home. Probably no mortgage (they seem older), public school and the expenses outside horses seem limited. Mom is extremely devoted and helps with care at shows.
Early mid 30s here & work in tech as does husband - tech $$ was better pre covid / early covid, we are comfortable but not SWIMMING in $$ bc we also have a mortgage on a 7 figure home to be able to continue to work in tech in major metro area on West Coast. Granted we made decisions like putting 40% down vs say buying a 6 figure horse for me.
HH income is in the top 3-4% of CA and between Top 2 and 1% Nation-wide and we are “feeling OKAY” with 0 kids and wanting to do some medium level remodels to our home and me leasing a horse but not actively showing more than 1 or 2 local A shows a year.
tech money (Dual and no kids and are childfree) is great - but does not afford multiple or even a singular 6 figure horses and constant showing if you also own property & have to … actually work in tech.
Sure, I can code and take meetings from the barn office / trailer at the show – but I cannot do that more than a couple times a year and some weeks I am paying training rides daily because I have a launch and am chained to a code base for 6 weeks - I am a higher level IC and I mostly review code and am more of a strategist these days than a “doer”, but I still have to WORK, though, remotely.
Different story if you are a founder / C level / mid 40s IC “fellow” in Big Tech which is less than 2% of the tech worker “population” (but even then the average is really making ~$500k/year and a large part of that is RSUs/ variable income). The 7 figure incomes are more rare than you’d imagine unless publicly traded exec or founder of unicorn start up.
@skip99 is correct.
Mid-level FAANG spouse- can also confirm it will not provide multiple horses. For us, a mid-5 green bean was the highest we could go, which is luckier than most. That budget right now will let you pick 2 of 3: athleticism, flashy, good brain.
Similar mortgage to @mika0116 - we live in a MCOL area, so have a little more wiggle room it sounds like, but realistically looking at an A show 3-4 times a year at most.
The ones I know with multiple horses, showing frequently are DINK (doctor/lawyer/tech) combos and/or have “upgraded” each green horse (meaning bought low, sold higher, bought more expensive prospect sold again, etc.).
@julia.eq.h this really drives home what you’re looking at for jobs to show multiples - it’s extremely hard to work your way into the horse lifestyle you’re talking about. Not without generational wealth backing you up. A good job (ie, top single digit percentage of earners) still won’t buy you a string of horses showing at WEF.
This shouldn’t be entirely discouraging! It’s just a reminder to not compare yourself to others - there will ALWAYS be someone richer and better connected. Finding a way to fit horses into your lifestyle vs building your lifestyle around the circuit is much more sustainable long term. It also doesn’t mean you can’t be successful - it just may look a little different than Instagram might have you believe.
I can’t tell you the number of former high performing amateurs that built their careers around chasing the “horse show dream” that have burned out entirely - plenty don’t have horses anymore and have picked up other hobbies. You don’t have to be circuit champion at WEF or win derby finals to have fun showing horses!
Marry well. The limited careers that create enough cash flow to fund multiple horses rarely leave someone enough time to actually show. Those who earn the multi-million salaries (and bonuses) needed to afford the multiple horses on major circuits are generally in fields where they need to put in long hours- investment banking, certain surgeons or specialty doctors who own their practice, lawyers at the tippy top, C suite at major company etc. You rarely see them competing, but there sure are a lot of their spouses spending weeks at the show.
This. It’s pure luck. DH has worked very hard, but picked the right start up right out of college at the right stage. I picked the wrong one, took out a (thankfully small) loan to exercise my options early then the start up folded and I didn’t get squat.
If you’re looking for advice at how to get lucky, follow the successful VCs and stalk their portfolio pages. Find a company you believe in, read up about them and their industry, then start applying. It’s not the 2010s anymore but there’s still success to be had.
It’s interesting to ponder but I would not get sucked down the rabbit hole of trying to emulate that lifestyle. I have worked hard and had financial success outside of horses, but I get a lot of enjoyment out of horse stuff that is not so expensive: (1) trail riding, (2) training green horses and OTTBs, (3) taking care of the horses and being a student of their herd dynamics, (4) teaching others, (5) a couple of local shows and hunter paces a year, (6) reading about horses all the time. Stuff I do not get enjoyment out of: (1) rated show fees, (2) seeing how horses are pounded on the show circuit, (3) keeping up with the Joneses, (4) worrying about The Look and the right brands and the trendy tack, (5) hiring others to do all of the basic day to day horse care. You can be a lovely rider on a lovely horse without needing to prove it or receive external validation for it each weekend. I own a true variety of horses for our lesson program and legitimately get as much pleasure from working with the draft crosses as the Warmbloods as the TBs as the ponies, etc…There is a lot of joy in appreciating each individual
That’s what I’ve wondered! How do trainers make enough to have six figure horses and show consistently
i just threw up in my mouth
this is SO MUCH wealth
They (mostly) don’t…
Either someone else is “making” the “six figures” or someone else is “paying” the “six figures.”
There might be a really rarified handful with extremely wealthy clients who can really make that lifestyle work off training those clients and earning commissions from them. And perhaps they have the skills to do their own horses as well without major sponsors or financial support from other sources–but mostly this not realistic. Most professionals have some other type of financial support or are not really making ends meet and also showing all circuit long on their own horses and paying their own bills. For most, that’s a Disney Channel take on how the whole thing really works.
Honestly, none of that even seems fun to me. What is the point of this big fancy shows all circuit long UNLESS you have the $$$$ to hang with everyone else. And even if you had the $$$$, don’t you have any other hobbies/interests/goals? If I won the lottery tomorrow and had unlimited funds, I am certain I would buy more horses and horse show MORE, but I would also do LOTS of other enriching things beyond going around the same rings against the same people week after week after week after week…
In a weird way it was the most liberating realization in such a long time.
I struggle with feeling bad for grimacing over a $400 Rambo sheet, $8,500 new saddle, $2,000 annual injections, or even $800 boots.
These families, often presented as a “just like us” in COTH articles, are bringing in about 40x my household income. Of course horse crud is getting wildly expensive because this elite group can pay it so companies know they can charge it.
It’s the equivalent of a $10 new sheet or a $210 saddle. It is easy to say that your horse is worth the splurge or snub people who are pinching pennies when a Rambo is the equivalent of a fast food lunch.
It also feels liberating to know that every “got there by grit alone” piece about Susie showing her 5 horse deep line up is a world I cannot even fathom to understand and not just because I don’t get up at 5 am and do a cold plunge.
I feel EXTREMELY similarly about some of the plaid horse articles I’ve seen lately about amateurs “making it”. It’s like that piece about the Olympian who every article was trying to paint as an everyman Sam but in reality he was an exec in the oil industry!! His bonus was probably twice what I make in a year!
I personally knew one of the juniors I saw an article like that on. As in, rode in the same barn when she was just starting out. Sweet kid, and the article made it seem like she worked hard (she does!) for her 6 top ponies and rotating door of horses - sure a few were green when she got them and she’s a talented rider.
However, buying and boarding/training another 5 figure green pony was about the same as most people buying another hamster. Kiddo had the time to ride (private education) and the support to drive or fly her everywhere to ride/show/train. She had to get up early to ride before class, but the school had flexible hours and was eventually remote pre-COVID. She knows how to wrap and pick a stall, but not because she was working off board at the local show barn for her reining reject.
People like to say it’s all hard work - and it really is! - but all the hard work in the world doesn’t replace financial support and luck.
paste this EVERYWHERE
They do not, as has been said. At best, elite level riders have a partnership share but don’t actually own the horse. At more mundane levels they ride sale horses owned by their business, not really personal horses and the object is to get it sold, not enjoy it and there is much pressure to succeed whether sale horse or multiple owners in a partnership or LLC.
It’s not what it looks like.
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