With side hustles now playing a crucial role in many people’s professional lives, it’s essential to look closely at side hustle statistics to know more about these additional income pursuits.
As of now, 93% of working Americans engage in some form of additional income stream. A telling trend emerged in 2022, as 29% of individuals cited inflation as a significant factor motivating their plunge into the side hustle arena.
In this blog, we unravel the numbers and motivations driving the rise of side hustles in the contemporary professional landscape.
Table of Contents
- What is a side hustle?
- Side Hustle Key Statistics
- Average Side Hustle Income
- Most Common Side Hustles
- What is the average number of people having a side hustle?
- What is the average side hustle income?
- Side Hustle Statistics by Age
7.1. Side Hustle Earnings by Age
7.2. GenZ Side Hustle Statistics
1. What is a side hustle?
A side hustle, also called a side job, is when you do an extra job to earn more money alongside your main job. Popular side hustles in the U.S. include selling clothes, making and selling crafts, doing delivery driving, and freelance writing.
Starting a side hustle can be easy if you use a skill or hobby you already have and turn it into a business. This way, you don’t have to learn a bunch of new things, and you already know the basics.
2. Side Hustle Key Statistics
- 1 in 3 Americans, or 34%, engages in a side gig.
- Nearly 50% of individuals with side hustles pursue them out of personal interest, not due to financial constraints.
- Conversely, one-third of side hustlers engage in additional work to supplement their income.
- 32% of side hustlers allocate 5-10 hours per week to their ventures.
- Half of millennials have a side hustle, while 70% of Gen Zs are involved in additional income pursuits.
- Side hustlers dedicating 12 hours weekly to their pursuits earn a median income of $1,122/month.
- The U.S. side hustle market boasts a valuation surpassing $2.58 trillion.
- Predictions indicate that 83% of Americans will participate in gig work by 2027.
3. Average Side Hustle Income
- Americans dedicating 12 hours per week to side hustles earn over $13,000 annually.
- Upon surveying 1,006 respondents, a typical side hustle generates a monthly average income of $686. Additionally, more than half of the surveyors earned less than $200/month
- 40% of millennials state their side hustle constitutes at least half of their monthly income.
- Men report an average monthly side hustle income of $989, while women earn $361 on average.
- 81% of small business owners earning six figures or more started their businesses as side hustles.
- A survey of 200 successful entrepreneurs revealed that over 33% of them were primarily motivated by a desire to “have a bigger impact and feel more fulfilled.”
- One-quarter of the surveyed business owners aimed for increased flexibility and freedom in their professional pursuits.
Furthermore, only 0.7% of side hustles generate a monthly income exceeding $10,000. Below is the table showing the income earned through side-hustle:
Percentage of Side-Hustlers (2023) | Income |
5% | $10,000+ |
31.2% | $1,000 to $5,000 |
36.7% | $500 |
4. Most Common Side Hustles
Among the various side hustle options, some were more favored by respondents. Online blogging and social media emerged as the top choices, making up 16.6% of the preferred types of side hustles.
Side Hustle Category | Percentage |
|---|---|
Online and Social Media | 16.6% |
Gig work, Uber Delivery | 15.6% |
Online Shop | 13.4% |
Freelancing | 13.4% |
Selling Crafts and Designs | 7.8% |
Market Research | 7.2% |
Software and IT | 7.1% |
Other | 18.6% |
Source: Self Inc
5. What is the average number of people having a side hustle?
As many as 80 million individuals, constituting 39% of working Americans, claim to have a side hustle.
Overall Population | Baby Boomers | GenX | Millennials | GenZ | |
United States | 39% | 24% | 40% | 50% | 46% |
United Kingdom | 19% | 42% | 39% | ||
Canada | 28% | 35% |
Source: Side Hustle Nation
6. What is the average side hustle income?
The money you can earn from side hustles changes based on what industry you pick, how much time you spend, and how you promote your business.
Income bracket | Percentage of people earning |
$0 | 0.7% |
$1 – $50 | 18.2% |
$51 – $250 | 26.7% |
$251 – $500 | 19.4% |
$501 – $1,000 | 15.9% |
$1,001 – $2,000 | 10.9% |
$2,001 – $4,000 | 6.5% |
More than $4,000 | 1.7% |
Source: Self Inc
7. Side Hustle Statistics by Age
Below is the table showcasing the percentage of people who have side hustle based on generation:
Generation | Percentage |
Baby Boomers (59-77) | 24% |
Gen Xers (43-58) | 40% |
Millennials (27-42) | 50% |
GenZ (18-26) | 53% |
Source: Jobera
7.1. Side Hustle Earnings by Age
The side hustle earnings in the United States vary noticeably among different age groups.
Age Group | Average Side-Hustle Earnings |
18-24 | $533.43/month |
25-34 | $925.95/month |
35-44 | $944.82/month |
45-54 | $891.76/month |
55-64 | $1061.11/month |
65+ | $581.32/month |
Source: Self Inc
7.2. GenZ Side Hustle Statistics
The youth in the United Kingdom are adopting the side hustle trend akin to their American counterparts. 70% of Gen Z young Brits have a second job, and 34% of them commit over 20 hours per week to it.
Percentage of GenZ side hustlers | Reason behind side-hustle |
70% | To cover debts and expenses |
14% | To save up for a home |
12% | As a hobby |
Source: Fortune
7.4. Side Hustle Statistics by Gender
- Men are more inclined towards side hustling compared to women. (Source)
- 43% of men engage in side gigs, in contrast to 35% of women.
- On average, men earn $596/month from their side hustle, while women make $378.
- Men dedicate an average of 14.5 hours per week to their side hustles.
- Women, on the other hand, spend 12.2 hours per week on their side gigs.
- Notably, 30% of men invest more than 20 hours in their side hustles, whereas 25% of women devote a similar amount of time.
8. Most Lucrative Side Hustles
- The average income for a side hustler is $29,000/year, achieved with just 6 hours of weekly commitment.
- Individuals providing management consulting services command an hourly rate of $86.
- Service providers in investment management earn an hourly rate of $75.
- Investment bankers make approximately $70 per hour.
- Online ventures like blogging, podcasting, online courses, and affiliate marketing prove to be lucrative.
- Selling products on platforms like Etsy, Amazon, and other e-commerce channels can generate around $1,000 per month.
- Successful influencers on platforms like YouTube and other social media channels have the potential to earn up to $10,000 per month.
9. Most Popular Side Hustle Jobs
From more than 2,300 survey responses gathered by Side Hustle Nation, the most favored side hustles include:
- Online Business – such as blogging, podcasting, online courses, social media, YouTube, newsletters, and affiliate marketing.
- E-Commerce – involving platforms like Amazon, eBay, Etsy, and personal online stores.
- Freelancing and Consulting.
- Investing – covering real estate, cryptocurrency, stocks, purchasing businesses, and alternative investments.
- “Quick Cash” Side Hustles – like focus groups, online surveys, credit card rewards, cashback apps, etc.
- Local Services – encompassing cleaning, knife sharpening, notary services, pet waste removal, and more.
- Self-Publishing.
- Gig Economy Jobs – such as driving apps, Instacart, or Lyft.
- Software and Apps.
9.1. Popular Side Hustle Income
Certain side hustle gigs have the potential to generate an annual income of up to $20,000 with a commitment of just 15 hours per week.
|
Side Hustle Gig |
Average Pay (Per Hour) |
|
Programmer |
$60-$70 |
|
Data Analyst |
$55-$65 |
|
Web Developer |
$50-$60 |
|
Graphic Designer |
$40-$45 |
|
Content Writing |
$30-$40 |
Source: Jobera
10. Side Hustle Trends in the Upcoming Years
- Of most side hustlers, 67% foresee sustaining their gig beyond covering daily expenses, indicating its potential for long-term viability.
- For 28%, the perception is that a side hustle will always be necessary to meet financial needs, while 19% aspire to transform their side gig into their main source of income.
- The prevalence of side hustling is expected to persist, with 39% envisioning it becoming the standard practice in the future.
11. Remote Side Hustle Statistics
- 69% of people working remotely are juggling a second job.
- Among remote workers, 37% have a second full-time job, and 32% are involved in a side hustle, with 45% of these being remote.
- Three-quarters of those with multiple jobs are running their own side business.
- For 32%, the second full-time job is in-person, and 23% have a hybrid arrangement.
- One-third of remote workers engage in a part-time side hustle.
- Additionally, 32% of remote workers are supplementing their full-time job with a part-time gig.
- Of those with a part-time second job, 39% work in-person, 28% work remotely at both jobs and 33% have a hybrid part-time side job.
- A large majority of employed individuals think that remote work has a positive effect on their mental health (93%) and physical health (90%).
- Managers report that 79% of their teams are more productive when working remotely.
- When considering the most crucial aspect of their job, 63% prioritize remote work over salary.
- Among working professionals, 51% prefer a fully remote job, while 46% lean towards a hybrid job.
12. What are some easy side hustle sales jobs?
- Buy and Sell Smart: Purchase items at low prices and sell them for profit on eBay or Craigslist.
- Gazelle Gigs: Use Gazelle to sell used phones and electronics. You can check repair shops and waste disposal services for a steady supply of old phones.
- Build Websites for Cash: Create a website and earn by selling it or generating revenue through ads and affiliate marketing.
- Sell on Etsy: If you’re a crafty, artistic person, sell your handmade items on Etsy.
- Virtual Assistant: Work as a virtual assistant from home, offering administrative support.
- Effortless Dropshipping: Dropshipping involves fulfilling orders placed on another marketplace. Here, you sell a product, and a drop shipper handles production and delivery.
- Affiliate Marketing: If you have a successful blog, social media presence, or video channel, try affiliate marketing.
- Amazon Seller Success: Create a seller account on Amazon to resell items or create and sell your products.
13. Highest Paying Side Hustle
If you’re looking for the most profitable side hustle options, here are some ideas that can help you make $100 or more in a day:
- UX Design: $122 daily rate
- LinkedIn Profile Writing: $110 daily rate
- Mobile App Marketing: $109 daily rate
- 2D and 3D Model Creation: $109 daily rate
- App Design: $106 daily rate
- Pitch Deck Design and Writing: $104 daily rate
- Architecture and Interior Design: $102 daily rate
- Social Media Marketing: $101 daily rate
14. What are some data analyst side hustles you can pursue?
Below is a list of some high-paying side hustle for data analysts you can check:
- Teaching: You can create online courses and earn money on platforms such as YouTube, DataCamp, Udemy, Skillshare, LinkedIn Learning, and 365 Data Science.
- Freelancing: Doing freelance work is a great way for data science experts to gain different experiences and earn money for their skills.
- Technical Writing: Writing technical articles on platforms such as Medium and Substack can be a good way to earn extra income.
- Consultancy: You can offer advice to nearby companies to enhance their analytics tools, data systems, and modeling. Alternatively, you can provide remote consulting sessions to businesses across the country and the world.
- Career Counseling: Data professionals can earn well by offering career counseling services as a side gig. Get paid per hour to guide recent graduates or individuals aiming to transition into data-related roles.
15. List of $500 a week side hustle you can try
Below is a list of some ‘$500 a week side hustle’ that you can easily begin:
- Personal Grocery Shopper: If you’re 18 or older and looking to make an extra $500 fast, consider joining Instacart, an app where you can become a personal shopper.
- Food Delivery: If you want to quickly make $500, think about delivering food using apps like DoorDash.
- Ridesharing: One of the easiest ways to earn $500 quickly is by becoming an Uber driver wherein you need to pick up and drop customers at their desired location.
- Freelance Writing: You can think about venturing into freelance writing and all you need is your laptop and an internet connection.
- YouTube Editor: Think about becoming a YouTube editor. Even if you’re just starting, you can likely earn $500 to $2,000 per month.
- Stock Trading: If you’re a smart stock market trader, you could earn $500 today and move forward without hesitation.
16. FAQs
16.1. What are good side hustles in 2022?
Online tutoring, virtual assistants, blogging, starting a YouTube channel, affiliate marketing, etc were the most popular side hustles in 2022.
16.2. Do side hustles really work?
Consider lucrative side hustles you can perform from home, such as working as a web designer or developer, digital marketer, virtual tutor, or bookkeeper.
16.3. What are some side hustle surveys that pay?
Below are some sites you can check for paid online surveys:
- Branded Surveys
- MyPoints
- HeyPiggy
- PrimeOpinion
- Freecash
- Swagbucks
- Survey Junkie
- Inboxdollars
- KashKick
- OpinionOutpost
16.4. Can I earn money through market research side hustle?
Yes, research companies compensate up to $250 per hour for your opinions.
16.5. How much does the average American make a month?
For ages 20 to 24, the median income is $706 per month, equivalent to $36,712 annually. In the 25 to 34 age group, it rises to $955 monthly or $49,660 yearly. Those aged 35 to 44 have a median income of $1,099 monthly or $57,148 annually, while the 45 to 54 age group reports $1,042 per month or $54,184 annually.
Conclusion
In conclusion, the prevalence of side hustles in the American workforce is evident, with 39% of individuals actively engaged in these supplementary income pursuits. The impact of side hustles is further highlighted by the fact that a significant 81% of successful six-figure businesses trace their origins back to these entrepreneurial endeavors.
These statistics underscore the dynamic role of side hustles in shaping both financial landscapes and business success, emphasizing their significance in the contemporary professional landscape.
