The Gig Economy
Do You Want to Be:
- Independent Consultant
- Independent Contractor
- Freelance Worker
- Fixed Term Contract Worker
- Personal Trainer
5 Faces of the Gig Economy
Freelancing in America
For this group of freelancers, a gig provides an opportunity to make money after losing a job. They tend to take on multiple gigs and rely on them until a traditional job comes along.
Their current gig makes up for about 22 percent of their total income. They make $9,400 on average.
For business builders, gigs are an effective means of supplementing or expanding an existing business. These freelancers like being their own bosses and dislike answering to a supervisor.
Their current gig contributes to around 30 percent of their total income. On average, they make $12,300 a year.
Career freelancers are the most diverse and satisfied group of freelancers. Their primary objective is to gain more experience and learn new skills to advance their careers.
They also look at gigs as opportunities for social interaction. Not surprisingly, this group mostly includes millennials who are into part-time freelancing. Their current gig generates about 26 percent of their total income and they make $9,700 on average from freelancing, per year.
These freelancers love what they do and it’s their passion that drives them to look for gigs.
They are well-educated, value flexibility, work the fewest hours, but earn the most per hour from their gig work. At present, their current gig generates 25 percent of their total income. They make $9,000 a year, on average.