Q: What are the pros and cons of working in the gig economy?
The most notable pros of working in the gig economy are:
Flexible working hours
The ability to earn extra money on an as-needed basis
No fixed salary (the more you work, the more you earn)
Be your own boss and set your hourly rate (in freelance roles)
The cons of working in the gig economy include:
Less social protection and job security in case of sickness or accidents
No perks e.g. health insurance, dental insurance, or pension provisions
No fixed salary (if you don’t work, you don’t earn)
Potentially poor work-life balance
Q: How much do gig economy employees make on average?
The nature of gig work means that it can be hard to determine the average wage earned when compared to a traditional job. However, a study by MBO Partners found that 56% of gig workers felt more financially secure as freelance workers than they did in traditional work. According to Statista, the median income for American men in the gig economy is $653 per week.
Q: How do I find a gig economy job?
If you want to be your own boss, freelance work arrangements can be very attractive, especially if you are interested in remote work. Some of the most common gig economy employers are:
- Uber
- Lyft
- Upwork
- Fiverr
- Gallup
- Airbnb
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