According to a Bankrate survey, men are earning more than women in side hustles.

A recent Bankrate survey of 2,332 U.S. adults found that over a third of Americans, 36%, have a side hustle and earn an average of $891 per month.

Both men and women are leaning in, with 38% of men and 33% of women possessing one. However, men seem to be making more, with an average monthly income of $1,034 compared to women's $735. According to Laura Valle-Gutierrez, a fellow at The Century Foundation focused on economic policy, this is definitely a striking difference.

She explains that the gender pay gap for side hustles is similar to the full-time gender pay gap, which she attributes to three main causes.

'The most common side hustles for women were child care and crafts'

The phenomenon of occupational segregation involves the disproportionate presence or absence of certain demographic groups in particular professions. In many cases, fields dominated by women are associated with lower salaries.

In the current year, Bankrate's survey did not provide information on the types of side hustles people were engaged in, either in general or broken down by gender. However, according to Ted Rossman, senior industry analyst at Bankrate, the most common side hustles for women were child care and crafts, while for men, it was landscaping and home repair.

On average, handymen earn more than babysitters nationwide, with handymen making $25.49 per hour compared to babysitters' $17.62 per hour, according to ZipRecruiter.

'The number of hours you can work will determine the success of your side hustle.'

Household chores and childcare are more commonly assigned to women than men.

According to a 2020 Gallup poll, women are more likely to do laundry, clean the house, prepare meals, and care for children on a daily basis than men in more than half of households.

"Valle-Gutierrez states that the number of hours worked on a side hustle will determine its correlation with income, and that caregiving responsibilities can lower the income generated on the side."

'The woman often set a lower rate for themselves.'

Women may internalize notions of their work's value even in side gigs.

According to Valle-Gutierrez, even when controlling for factors such as age, education, race, and occupation, women still earn less than men in the same job on average. Women make 84 cents to a man's dollar, as stated by the National Women's Law Center.

"According to Kathy Kristof, founder and CEO of Sidehusl.com, "I frequently observe this phenomenon on freelance platforms where women set lower rates for themselves compared to their male counterparts.""

On Taskrabbit, a platform for freelancers in New York, men typically charge $70 per hour for furniture assembly, while women charge no more than $44 per hour.

'Don't undervalue your own work'

If you're a woman looking to start a side hustle, Kristof provides some helpful tips, even though addressing systemic issues may require more than just individual actions.

Don't undervalue your own work," she advises. "If you're setting a low price to build momentum, that's understandable. However, aim to increase your rates at a specific point (e.g., after 25 five-star reviews).

If you teach, she recommends using platforms like Outschool to book multiple kids in one class. This way, even though you may only earn $10 per student, you can earn $100 an hour with 10 students.

She recommends seeking part-time work in accounting, law, marketing, human resources, tech, and other professional services on websites such as Robert Half, Catalant, Mayple, and FlexProfessionals, as these fields typically pay professional rates without regard to gender.

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