Women Embrace the Gig Economy for Flexibility, Income, & Entrepreneurship

The “Gig Economy” is exploding. More than 9 out of 10 women w/ side hustles find the work fulfilling & nearly 1/3 say they plan to continue doing independent flexible work forever. More than half of respondents reported adding over $500 to their monthly household incomes through their side hustles. Most reported their hourly earnings were below $20, w/ 43% reporting earning $20 or more per hour. Women were most likely to report they gigged between 5 & 9 hours a week.
The new “Women in the Gig Economy,” commissioned by BabyQuip, Ruby Ribbon & UrbanSitter, found roughly 40% of the U.S. workforce makes 40% of its income through gig work.
When rating how important various aspects of their gig economy work was to them, 65% of respondents indicated flexibility is “extremely important,” w/ another 30% saying it is “very important.” In all, flexibility is important to 95% of respondents. What’s more, women w/ children under age 5 were more likely to select “more time w/ children” (54%), another form of flexibility, as the reason they gig.
While flexibility is the leading reason women report they gig, income is a close second. Overall, 38% of women indicated they side hustle to “earn a good income.” When asked to rate how much importance they place on various aspects of their side hustles, “earning money” was most likely to be rated “extremely important” (66%). More than half of respondents reported adding over $500 to monthly household incomes through their side hustles.

WHY WOMEN GIG

Most women reported they are either “somewhat” satisfied or “extremely” satisfied (20%) w/ the money they earn. Only 12% of women report being dissatisfied with their earnings. The survey found that women who have been doing this work for 3 or more years enjoy higher earnings, with 59% earning $500 or more and over a third (36%) earning over $999 per month.
Women most commonly report they use their side hustle earnings to cover general household expenses like mortgage & rent, car payments & food costs. When considering only age, women in their 20s are the most likely age group to use earnings to pay off student loans & other debt, while women in their 50s & 60s are the most likely age groups to use side gig income to save for retirement. The survey also found that most prefer to have an independent contractor relationship w/ the company that provides their side hustle opportunities (61%), rather than being traditional employees (12%).
To learn more about how to become involved with Ruby Ribbon, contact me at 919.604.0104/ olga.dreammaker@gmail.com ~ www.hatemybra.com
Ruby Ribbon, UrbanSitter & BabyQuip created the first multi-company survey of women who have chosen side hustles as a means for supplementary or, in some cases, primary income.
Written by CardTrak Staff Sept. 12, 2018

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