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Side Gigs 2023: 50% of Americans Have a Side Hustle — Even If They Earn $100K

Krakozawr / iStock.com
Krakozawr / iStock.com

Americans are doubling up on work at an astounding rate. As GOBankingRates reported in November, about 38% of people said they have at least one side gig and an equal share noted they have more than one.

Bloomberg reports that due to record-high inflation and the dwindling of pandemic-era savings and tax credits, many workers simply need the extra wages to make ends meet.

See: 10 US Cities With Plenty of Jobs and Cheap Housing
More: 7 States Considering More Stimulus Checks in 2023

But via a new report from LinkedIn, citing a survey by LendingClub and PYMNTS.com, it’s now estimated that more like 50% of the U.S. has at least one side gig and it’s not just the middle class, either. Upward of 62% of people earning $100,000 or more reported having some kind of additional income beyond their main job. With so many people side hustling, it’s bringing in about $50 billion in additional revenue for Americans each month.

Part of the reason is that many people now work remotely after the pandemic. According to Zippia, about 62% of employees don’t go into an office — and many have flexible schedules allowing for time to devote to a side gig. And they’re doing so in creative ways, whether it’s owning an Etsy shop, launching a podcast, driving for Uber or owning a pet-sitting business.

It’s also not always used as a means to make more money. Forbes reports, “You may also pursue a side gig as a way to test the waters on a new direction or to feed your passion in ways which are impossible through your regular full-time employment.” Side gigs are a popular option in particular for Gen Z and millennials, who aren’t necessarily beholden to a more traditional working situation. Forbes notes that 72% of Gen Zers and 67% of millennials are into side gigs.

Take Our Poll: Would You Move for a Job That Paid You a $10,000 Signing Bonus?

GOBankingRates has compiled a list of 22 side gigs that might pay you more than a regular full-time job. Among them: sign language interpreters, executive assistants, web designers and online resellers.

It’s important to note, however, that when you have a side gig, you’ll need to pay extra in estimated taxes since the work is usually contractual and taxes aren’t automatically taken out.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Side Gigs 2023: 50% of Americans Have a Side Hustle — Even If They Earn $100K

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