It's not too bad. Obviously it's not where i'm making my money, since I needed a good day job for the loans, but on the side I teach lessons and compose by commission for events/friends/contests/podcasts/games. I was lucky enough that my school had a contest where I could get both my band and orchestra pieces recorded (and I got to sit in on all the sessions too), so it's been a boon to my portfolio to have that stuff.
I could just teach actual music classes at some of the colleges around here, but since it's hard to get enough classes a semester to teach to make decent money, I stay away from that for now anyways. Could probably teach high-school/grade-school if I really wanted to, since I did most of the music ed stuff during undergrad (would be cake to go finish the cert process off), and that thought has always been at the back of my mind.