Sam Woody ’26
Guest Writer
Since COVID, the popularity of the gig economy has exploded. With more flexibility in work schedules and rising costs of tuition and cost of living it is more popular than ever to have a gig, or a side hustle. Popular gigs include Uber driving, pet sitting, reselling, or content creation, but there are an endless variety. What differentiates a gig from a normal job is the lack of set hours and direct oversight. As someone who has tried a number of different gigs, I’d say the realities of gig work are often less than glamorous.
Many gigs that are advertised as an easy way to make money are oversaturated and at times outright exploitative. Hidden fees and operating costs eat into already razor thin margins, and it is easy to lose money on your own side hustle. Uber driving is contingent on tips and often makes far below the minimum wage. Furthermore you are responsible for your own car insurance, gas and car payments regardless of how much you make in tips. This model is not unique to Uber. Tiktok’s content creation machine is largely powered by people hoping to become famous and begin earning content on their videos. Few do, despite sinking hours and dollars into videos and equipment. While the gig economy often presents itself as a form of twenty first century entrepreneurship, the reality is that it is a way for large corporations to shift risks onto cash strapped individuals and hoard the majority of the profits for themselves.
Another added burden of working a gig is that it commodifies your free time. Hours spent with friends or sleeping could be spent tutoring or researching new items for your dropshipping company. While a job is worked within its own set hours, a gig follows you every second of the day. Within a gig you are also oftentimes uniquely exposed to financial and personal risks you would not be in a structured job, as you have purchased your own equipment and have little recourse for compensation if something goes wrong. Unlike a job, most gigs do not translate into real world skills- they represent work that is easy but not quite automatable.
That is why I strongly recommend working a more traditional job whenever possible. We at Holy Cross, by and large, are remarkably privileged in that we don’t need to work a gig to survive. Part-time jobs realistically see higher stability and rate of return than most gigs do. They are also oftentimes more rewarding and allow for advancement and human interaction, while many gigs are very solitary endeavors. Lifeguarding and waiting tables are good money (often above minimum wage) and Holy Cross offers opportunities for on campus student employment. Part time jobs also correlate much more highly with practical skills you can leverage when applying for jobs and internships. As students, these jobs will oftentimes serve you much better.
That is not to say you should automatically shy away from all extracurricular sources of income.
Many people can and do make excellent money in a side hustle. However it is always recommended to have that side hustle be on the side of a steady and reliable flow of income. As you choose what gig or side hustle might potentially be a good option, consider what skills or connections you have. Are you knowledgeable about a certain product or trend? Are you already involved in a network or industry? The more specialized your side hustle is, the more money you will make from it. Finding your own niche that is specific to you is the key to real profit. Personally, I also like to add the $20 an hour rule. If you’re not making a mimum of $20 an hour in profit (including setup plus all fees and expenses), it is likely not worth it.
Since graduating from high school I have worked as: a sneaker reseller, a freelance chess instructor, substitute teacher, bartender, independent web designer and pet sitter. The only one of all of those jobs I’d recommend is bartending, due to the consistent opportunity for work, the high rate of hourly return, and how much fun it is. The rest were an immense drain on my time and energy with little to show for it, and I actually lost money trying to design a for profit website. In summary – if a new side hustle you found seems too good to be true, it likely is.
Featured image courtesy of fabrikbrands.com
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