Can You Make it in the Gig Economy? You Bet!
By Guadalupe Vicon June 30, 2022 — (NOTICIAS NEWSWIRE) — Let’s face it, with gas prices still rising, inflation at its highest in the last 40 years, the ongoing ‘great resignation’ and companies freezing hiring there is a lot of financial uncertainty. But one thing is for sure: the profitability of side hustles in the …
By Guadalupe Vicon
June 30, 2022 — (NOTICIAS NEWSWIRE) — Let’s face it, with gas prices still rising, inflation at its highest in the last 40 years, the ongoing ‘great resignation’ and companies freezing hiring there is a lot of financial uncertainty. But one thing is for sure: the profitability of side hustles in the gig (or flexible) economy is the most frequently heard advice from those who experience the benefits of creating their own work schedule and determining when, where, and how they work.
A few questions come to mind about this type of work: how much can someone make? And, are these shifts just a one-time thing or can you make a career out of them? Traditionally, gig work has a bad reputation. There’s a general perception that gigs are for those that can’t keep a job or want to put little or no effort into making a living, but is this really the case?
Geyler, who works as a cook and event server in the Bay Area, calls this a gross misconception. In 2019, this immigrant from Guatemala enrolled on Instawork, a flexible work app, and says he will never go back to traditional work. And he might be onto something! Last year, Geyler made $145,000, more than an airline pilot, a marketing expert or even a financial manager, some of the Best Paying Jobs in 2022 according to U.S. News. The cherry on top? He has the freedom to choose his own schedule. “I worked 26 years in a restaurant, but I was barely making the minimum; and it was a nightmare to report sick days or request vacation time. Now I work when I want and where I want using the app.”
Maegan Pisman is a board-certified behavioral scientist who holds a Ph.D. in Applied Behavior Analysis and is senior researcher at Instawork. Five years ago, she started to notice that flexible work was gaining traction, but the pandemic accelerated the transition. “Historically, there has been a bad reputation around people who do contract work, but the pandemic influenced our perception of happiness and fulfillment. The ‘great resignation’ proved that workers want more control over how to live their lives and manage their own time; in short, become their own bosses,” said Dr. Pisman.
A 2021 report from the Pew Research Center noted the rise of the flexible workforce with 9% of adults earning extra income through an online platform compared to the year before. Hispanics, according to the results, are more open than any other racial group to participate in the gig economy. Dr. Pisman also noticed that flexible workers enrolling on Instawork had higher levels of education than one might assume. An internal survey demonstrated that 33% of the workforce have a college education and 15% have achieved a bachelor’s degree. In her opinion, “The reason we have educated workers flocking to flexible work is because it fills their immediate needs, whether it be going back to school, pursuing a new career, or something else. Flexible work enables professionals to align their work structure with their needs and preferences.”
Aldo is one of those hourly workers with a college education who is still adding to his college credentials. In the five years since he made the transition to flexible work, he is pursuing a certificate in fashion. “9-5 jobs are stagnant, I like flexibility, not only in terms of time and income, but for the amazing opportunity to work at different places all the time, one day I could work at a baseball stadium and the next at a high-end corporate event, the options are limitless,” he says.
With all said and done, Geyler and Aldo both agree that there’s a simple three-step plan to succeed in the gig economy: commit to the work, show up on time and do your best!