A new report reveals that side hustlers earn an average of $891 per month—'quite a bit more lucrative'
A significant portion of American adults, 36%, have a side hustle, earning a substantial amount of extra income, according to a recent Bankrate survey of 2,332 individuals.
The average side hustler is now earning $891 per month, which is a 10% increase from the previous year, says Ted Rossman, senior industry analyst at Bankrate.
Not all generations earn the same amount, and not everyone makes hundreds of dollars per month. Here's a breakdown of how much people are making and the most popular side hustles they are taking on.
Millennials are bringing in $1,129 per month, on average
A side hustle is most commonly reported among Gen Zers, with 48% having one, followed by 44% of millennials, 33% of Gen Xers, and 23% of Baby Boomers.
On average, Millennials earn the most money, with $1,129 per month, while Baby Boomers earn the least, with $561 per month.
The median earnings have increased from $200 to $250 per month, while 28% of people earn more than $500, 34% earn between $101 and $500, and 37% earn $100 or less. Despite the small monthly increase, high-earning hustlers continue to skew the average earnings much higher.
Popular gigs: furniture assembly, data analysis, pet sitting
It's likely that individuals are engaging in a variety of activities to earn additional income.
In 2024, the most sought-after gig on services platform Taskrabbit is furniture assembly, which offers an average hourly rate of $41. Meanwhile, on freelance marketplace Upwork, data analytics is the most in-demand skill, with the potential to earn $167 per hour.
According to Jen Glantz, founder of Bridesmaid for Hire and the creator of the Monday Pick-Me-Up and Odd Jobs newsletter, dog walking or dog sitting or pet sitting is a popular choice because it requires minimal qualifications. The average pay for pet sitters nationwide is $16 per hour, as stated by ZipRecruiter.
"Another widely used platform is similar to Poshmark, where you can sell your items," she remarks. Sellers such as Maria Jones, Kaitlin Kao, and Sophie Riegel have successfully made thousands using this site.
The founder and CEO of Sidehusl.com, Kathy Kristof, believes that side hustlers' success comes from their ability to selectively choose their side hustles to ensure they are profitable.
She remarks that, after observing many individuals being exploited in the gig economy, people are now a bit more cautious and less easily deceived.
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