Yahoo Finance Over Half of Gen Z Have Picked Up a Side Gig: 8 Best Options for This Generation
Making money on the side is popular for the youngest generation in the workforce. According to a 2023 survey conducted by GOBankingRates, 62% of Gen Zers between the ages of 18 and 24 picked up a side gig due to inflation. Luckily, the world is ripe with opportunities when it comes to making extra money.
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Gen Zers are digital natives, well-positioned to take advantage of money-making opportunities that involve technology. And avenues like social media and content creation are perfect pathways for discovering lucrative side hustles.
From low-commitment opportunities to those that are more involved, here are the eight best side hustles for Gen Zers looking for ways to earn more money.
Create Niche Pages on TikTok
“One side hustle that is extremely lucrative and has the potential to grow beyond a side hustle is creating niche pages on TikTok and growing an audience that can be monetized through sponsorships,” said Kyle Dulay, co-founder of Collabstr, an online marketplace to find and hire content creators on TikTok, Instagram and YouTube.
“The idea is pretty simple: You pick a niche that is interesting to you and post consistently until you build your audience over 10,000 followers,” he explained. “The great thing about TikTok is that it’s much easier to grow on there compared to other platforms like Instagram or YouTube. I personally accumulated over 100,000 users across two pages in less than 12 months.
“As you grow, it will become much easier to make money off of your page. At first, you may have to reach out to brands manually and pitch them on a potential sponsorship, but as you grow, you’ll begin to get more deals coming inbound.”
According to recent industry data reported by SocialBook, TikTok influencers earn an average salary of $121,765. However, the pay range will vary depending on how popular an account becomes and how the creator chooses to monetize it.
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Create In-Demand Content
“People of any age can make a sizable income through content creation, but in my experience, Gen Z really thrives with cryptocurrency and e-finance topics,” said Nate Tsang, founder and CEO of WallStreetZen. “Many of the biggest TikTok financial influencers are in their teens and early 20s, and finance companies of all sizes want the clout and digital native skills that Gen Z has in spades.
“Content creation can extend to blog writing on trending topics, creating TikTok and YouTube videos for companies, graphic design and even podcasting. What brands are looking for is authenticity more than anything else — they can supply the experience and expertise, while Gen Z content creatives provide the engagement.”
The average pay for this side gig will depend on the type of content you create and the platform you publish on, as well as how you monetize it. According to ZipRecruiter, the average annual salary for a YouTube channel in the U.S. is $68,714.
However, you may not see significant income until you reach a million subscribers, which is when you should make around $60,000 annually.
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Create Simple Websites
“One of the easiest side hustles Gen Zers can get into at the moment is creating and selling simple websites and landing pages,” said Drewbie Wilson, former vice president of Break Free Academy and bestselling author of “Crushing the Day: A Simple Guide to Success in Business and Life Through Service to Others.”
According to Indeed, the average pay for a website designer is about $26 an hour or $53,607 annually. You can charge more by picking up freelance projects if you’re looking for a side project — website templates can sell for a few hundred dollars or more.
SwaS (Software With a Service)
“One side hustle I’m excited about right now for Gen Z is what I call SwaS, or software with a service,” said Nick Loper from Side Hustle Nation, founder of an award-winning blog, podcaster, TEDx speaker and author of six books dedicated to improving people’s finances.
“How it works is you piggyback on the popularity of a software tool that already exists, and help companies or individuals use it. On Side Hustle Nation, we’ve seen people run with this strategy for Quickbooks, Asana, Salesforce, Tailwind, ActiveCampaign, Ahrefs and more,” he said.
“As a younger entrepreneur, you’re at an advantage, because you could be an early adopter for an up-and-coming software tool that most people don’t know about yet. If you can create video tutorial content about it — introducing yourself as a consultant — I can almost guarantee you’ll have people reaching out and asking for one-on-one help.”
The pay with this side gig will depend on how you implement your marketing strategy. However, if you focus on SaaS sales, you can earn around $39 an hour — a respectable side income if you have the time to devote to it.
Create Digital Products
“The best side hustle for young people is to create digital products,” said Mitchell Stern of SideHustle.Tips.
“These include fonts, design templates, document templates, Shopify store themes, e-books and music. Unlike traditional jobs, you don’t have to answer to anybody, and you can work at your own pace whenever is convenient for you. Plus, you can work from home and actually make decent money. Creating digital products is the perfect side hustle for anyone with a computer who is looking to earn extra money without having to make any type of commitment.”
The pay range for selling digital products will depend on what kind of items you focus on and the platform that you choose. The average hourly wage for an e-book writer is $38.94, for example, but this will vary depending on your marketing efforts.
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Sell Stock Photos
“For more visually creative Gen Z people, selling stock photos can be another great side hustle,” said Maria Juvakka, founder of Chic Pursuit.
“The process is as simple as posting on social media: Upload the photo on Shutterstock, Adobe Stock or another site, and get paid every time someone licenses it. Think about the type of pictures editorials or businesses would need in their articles and content, and upload that type of content. Some examples include famous landmarks from well-known cities and office environments.”
The average pay for selling stock photos fluctuates, but according to a 2023 survey of stock photographers, 46.3% make anywhere from zero to $500 per month, and 18.8% earn over $2,000 monthly.
Become a Virtual Assistant
“Hiring a virtual assistant has been one of my best decisions recently,” said Simon Brisk, CEO of Click Intelligence. “It saves up a lot of my time and effort. Almost all the business executives I have met have an assistant, and most of them prefer a virtual setting.”
“There’s a huge demand for virtual assistants, particularly post-pandemic. And most employers prefer younger people for the job. That is because young people are generally more tech-savvy and flexible. Therefore, Gen Z should consider getting into this gig.
“Apart from the decent compensation, VAs can get the opportunity to work with industry leaders and possibly learn from their experiences and expertise. Not to mention the prospect of getting a permanent job with their employer. My virtual assistant works at $30 per hour, and she is highly skilled at the job.”
According to ZipRecruiter, the average national hourly wage is $24, but a top earner in this industry can earn up to $70,500 yearly.
Screenprint and Sell T-Shirts
Mike Nemeroff, CEO and co-founder at Rush Order Tees, said that screen printing and selling T-shirts is a side hustle that’s fairly lucrative for younger people. “It’s how I got started, and now Rush Order Tees has grown from a one-high schooler operation in the back of my parents garage to over 150 employees,” he said.
“A decent screen printing press is less than $200, and the supplies aren’t much more, either. Selling T-shirts at or ahead of major events or with creative designs via Facebook Marketplace can get you back your investment in the first batch of shirts. Take it from me — people love buying from students and will be happy to support your cause, even if your cause is just starting your own small business.”
According to Printful, you can earn $548 monthly if you can sell 100 shirts. The pay will fluctuate depending on your marketing efforts and shirt designs.
Martin Dasko contributed to the reporting for this article.
GOBankingRates surveyed 1,021 Americans aged 18 and older from across the country between Oct. 12 and Oct. 16, 2023, asking twenty-three different questions: (1) How much did you spend on your pet in the last year?; (2) How much have you spent/are you planning to spend on Halloween this year?; (3) How much money do you spend on kid-related activities in a year?; (4) How much do you spend on average on your monthly utility bills (electric, heat/gas, water)?; (5) What spending/saving habits have you had to change in the last year due to inflation/rising prices? (select all that apply); (6) What was the biggest unexpected expense you had this year?; (7) How much do you currently spend on monthly car payments?; (8) Do you live in a single-income or dual-income household?; (9) In the past year, did you have to take on a side gig because of rising prices/inflation?; (10) How much do you bring home from your side job(s) each month?; (11) How much have your overall expenses gone up in the past year?; (12) What is your top financial priority to end 2023?; (13) What is the top way you’ve earned your money/gained wealth?; (14) Have you started financially preparing for 2024?; (15) How much have you spent on home upgrades in 2023?; (16) How will the resumption of student loan repayments affect your budget?; (17) How much do you currently owe in student loans?; (18) How much do you spend on yourself (not including housing, food, etc.) out of each paycheck?; (19) How much do you spend on online purchases per month?; (20) Where do you shop for groceries most often?; (21) Do you shop around for groceries to get better deals?; (22) What are you currently invested in? (Select all that apply); and (23) What is the current value of your stock investments?. GOBankingRates used PureSpectrum’s survey platform to conduct the poll.
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This article originally appeared on GOBankingRates.com: Over Half of Gen Z Have Picked Up a Side Gig: 8 Best Options for This Generation
