Did you know nearly half (44%) of us have a side gig to boost our income? From Vinted clothes-magnates to Social Media Influencers and part-time Uber drivers, the possibilities are endless. According to Finder’s research, Side Hustlers earn an average of £206 per week, adding up to an extra £10,701 per year.
Gen Z leads the charge, with 76% pursuing side hustles, followed by 63% of Millennials, 42% of Gen X, and 25% of Boomers. Millennials rake in the most income, averaging £268 per week, closely followed by Gen Z at £223.
The digital platform economy has played a significant role in this generational divide, especially for tech-savvy twenty-somethings and millennials. Surprisingly, higher management positions in primary jobs tend to make the most money, with 63% of them having multiple income streams and an average of three side hustles each.
In the past, side hustles were seen as a way to indulge, but now, more than half of side hustlers consider them as crucial as their primary jobs in tackling the cost-of-living crisis.
This seismic shift demands employers’ attention. Moonlighting is now an accepted part of work-life culture, and employers should embrace it, not shy away. The flexibility and creativity it fosters benefit both employees and businesses.
For pioneering remote-working Consultancies like The Thread Team, side hustles are lifeblood. It celebrates the diverse talents and entrepreneurial spirit of its team, as they deliver amazing work and significant upsides to its client’s businesses on their own terms. Trust, respect, and a shared set of values are the keys to success in its remote business.
So, let’s raise a toast to the rise of side hustlers and the abundance of chutney on The Thread Team company Slack channel!
Authored and published with permission of Richard Calvert, Co-Founder of the Thread Team