It depends, if you work for a company such as Blizzard, the pay is amazing, but if you work at an indie developer, it's very unknown.
Minimum requirements would be a university degree in game development. If you wish to specialise in a particular area, such as programming, then a degree in that area would be necessary.
Yes and also if you get a commission.
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The average annual income for a video game store owner in the United States is $31,000. The average annual income for a video game store owner in Florida is $29,000.
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That depends on what part of the industry they are interested in: Audio, Programming, Graphics. We are at a cross roads in this industry - the advice given in the past to people interested in video games was: "Get a computer, make a game and then find someone that will take a look at it." Now, the games are much more sophisticated, they cost a lot of money and it takes a team. There are many curriculums that offer audio, graphics and programming degrees that will help, but if you can find a curriculum that offers these degrees and is video game specific, you'll be much better prepared.
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You would start out making around $45 000 a year with 5% income of the company's overall income. Also you get a $6000 raise per year for up to $120,000.
Video Game development is where you design your own video game.