MaSH. I am fifteen and I do magic as a side job. I don't think there's much hope for getting work as a street magician (assuming you're meaning the type that david blaine does rather than the type William Draven refers to) I work at a restaurant with Randomwrath. We did it weekly until a few days ago but now they have said that they want us monthly but they're going to advertise it a lot. I think the credit crunch is making it harder to get work. Particularly as an entertainer, which is a seen as a luxury that can be disposed of in times of brokeness.
I would love to be a magician full-time but (as has already been said) it isn't reliable, so I think everyone needs a 'back-up' job incase they're not getting enough work; for them to fall back on. I want to be a full time magician because I love to perform. I really enjoy the feeling of having amazed someone, and them having enjoyed it too. I simply love being a magician. I could write you a whole essay about how much I love the art of magic, but you would be reading all day.
The work that I have already is brilliant. It's kind of like getting paid for babysitting; it's brilliant because you're getting paid for something you love to do (except instead of lounging around someone else's large house drinking tea, you are amazing the crowds and being tipped generously) I look forward to each gig - I would anyway but the money just sweetens the deal *smiles happily*. Honestly I want to be a full-time magician because there is not much I enjoy doing more and the pay is good ASWELL!
The benefits are that you gt to do what you love doing and everyone else loves you doing it too. The downsides are that your employer can suddenly tell you that they want you one time out of four that you would normally have from now on.
Honestly there's not a better job that I can think of than being a full-time magician.