“Starving Artist” – is not a term that should be taken literally, or taken advantage of.
In the acting world, starving artists are those who are willing to forgo the stability of corporate paychecks, and certain material luxuries, in order to focus on their craft. The term refers to a hunger for pursuing excellence in the art of acting. It in no way means that an actor should work for free or very little money.”
You can read this entire NY Castings article here.