Gig work: benefits, drawbacks, and the surprising outcomes

Exploring the rise of gig workers in America through a new survey by Super.com.
Jan 16
·
5
 min read
·
Last updated:
Jan 17

According to Statista, as of 2023, there are 73.3 million gig workers in the US- and that number is expected to grow to 76.4 million in 2024.  Just what is a gig worker?  Simply put, a gig worker is a person who does freelance work and obtains at least part of their annual income outside of the standard employer-employee full time relationship.  People turn to gig work for all sorts of reasons from the allure of a flexible work schedule, to its lower barriers to entry, to the promise of additional income to help pay  bills, and more.

At Super.com, so many of our customers are, in fact, gig workers, and in order to serve them better, we crave a holistic understanding of the context of their lives.  So, in December 2023, we surveyed more than 1,000 customers to understand their interest in gig work and the impact gig work has on those who do it.  To dig deeper, I also spoke with 3 customers to better understand their feelings and sentiments.  Here’s what we learned:

What are the most popular gig jobs Super.com customers take on and why?

Super.com customers report that the most popular gig jobs they’d take on are:

  1. House Cleaning or Handyman Services: 27%
  2. Food Delivery (e.g., DoorDash, Uber Eats): 34%
  3. Ride-Sharing (e.g., Uber, Lyft) (14%)

They’d turn to gig work because for the following reasons:

  • Financial necessity: 62%
  • Flexibility: 46%
  • Entrepreneurial Experience: 23%

All 3 of the customers I had the opportunity to chat with spoke about the need for financial security and that the reality of gig work is that whether it’s supplemental income (for example, a second job) or their entire income, it’s what enables them to make ends meet.  Survey respondents agree, with 50% indicating that gig work has materially improved their financial stability.

How many jobs do gig workers take on?

While ~60% of respondents surveyed indicate they have 1 job, 22% have 2 or more jobs. Low income customers, those earning $40,000-$49,999 annually were the most likely to have 2+ jobs, with nearly 1/3  of respondents in that income range indicating they have 2+ jobs.

Even more interesting, that number is ~6x the number of Americans overall who hold more than 1 job, which in October 2023 was reported to be 5.2%.  That’s very likely explained by the reality of the circumstances of Super.com customers.  Since Super.com offers customers the unique opportunity to earn money, save money, get cash advances and build credit - all in one place - our customers are often in a middle or lower income bracket, taking on gig work to make ends meet.  The kicker?  In the past 6 months, nearly 70% of survey respondents have considered getting another job (e.g., adding to the number of jobs already held, not replacing) to pay their bills.

What are the impacts of gig work on the lives of gig workers?

As mentioned above, Super.com customers stated the top 3 reasons they’d turn to gig work are: financial necessity (62%), flexibility (46%), and entrepreneurial experience (23%).  Of those that are already gig workers, they’ve seen some pros and cons in the outcomes of gig work in their lives.

On a positive note, as mentioned above, 50% of respondents reported that gig work does enable them to improve their chances of financial stability.  The Super.com customers I spoke with primarily discussed gig work as either a supplement for when they need to earn additional cash (e.g., around the holidays) or a much-needed entry into the workforce, citing that without gig work, they wouldn’t be able to qualify for a full time role that might require a 4 year degree or other qualifications that they simply didn’t have.  These customers are just grateful for the opportunity to have jobs that enable them to keep their family finances afloat.

There were, unfortunately, some negative sentiments as well.  Respondents who had hoped that gig work would improve their work life balance simply didn’t find that to be the case, with 72% of respondents indicating that it has had a neutral to significantly worse impact on balance.  In addition, ⅓ of respondents indicated that it has worsened their stress levels and taken a toll on their mental health.  When asked why, customers cited the rising cost of living (from housing to food to child-related expenses) meant they simply had to do more work to keep up.

It’s clear that gig work, like any job, has its pros and cons.  But, as one Super.com customer put it, “I’m grateful to have the opportunity to do it.  It’s how I make money.  That’s how I feed my family.”  As another put it, “It gives my family and I stability - a feeling I lived my entire childhood without.”  The fact that it enables 50% of our customers who responded to find that financial stability is a feat to be celebrated - while we think through how to enable the remaining 50%.

Get to Know the Real Chi-town

Disclaimer: Super created this blog for general informational purposes only. The contents of this blog do not constitute professional financial advice. We strive to keep this information accurate and up to date to the best of our knowledge; however, we cannot guarantee continuous accuracy. Contents of the blog are subject to change without notice.

No items found.

Gig work: benefits, drawbacks, and the surprising outcomes

Exploring the rise of gig workers in America through a new survey by Super.com.

Radhika Duggal
Last update: 
Jan 16, 2024
, 
5
 minutes to read

In this article:

According to Statista, as of 2023, there are 73.3 million gig workers in the US- and that number is expected to grow to 76.4 million in 2024.  Just what is a gig worker?  Simply put, a gig worker is a person who does freelance work and obtains at least part of their annual income outside of the standard employer-employee full time relationship.  People turn to gig work for all sorts of reasons from the allure of a flexible work schedule, to its lower barriers to entry, to the promise of additional income to help pay  bills, and more.

At Super.com, so many of our customers are, in fact, gig workers, and in order to serve them better, we crave a holistic understanding of the context of their lives.  So, in December 2023, we surveyed more than 1,000 customers to understand their interest in gig work and the impact gig work has on those who do it.  To dig deeper, I also spoke with 3 customers to better understand their feelings and sentiments.  Here’s what we learned:

What are the most popular gig jobs Super.com customers take on and why?

Super.com customers report that the most popular gig jobs they’d take on are:

  1. House Cleaning or Handyman Services: 27%
  2. Food Delivery (e.g., DoorDash, Uber Eats): 34%
  3. Ride-Sharing (e.g., Uber, Lyft) (14%)

They’d turn to gig work because for the following reasons:

  • Financial necessity: 62%
  • Flexibility: 46%
  • Entrepreneurial Experience: 23%

All 3 of the customers I had the opportunity to chat with spoke about the need for financial security and that the reality of gig work is that whether it’s supplemental income (for example, a second job) or their entire income, it’s what enables them to make ends meet.  Survey respondents agree, with 50% indicating that gig work has materially improved their financial stability.

How many jobs do gig workers take on?

While ~60% of respondents surveyed indicate they have 1 job, 22% have 2 or more jobs. Low income customers, those earning $40,000-$49,999 annually were the most likely to have 2+ jobs, with nearly 1/3  of respondents in that income range indicating they have 2+ jobs.

Even more interesting, that number is ~6x the number of Americans overall who hold more than 1 job, which in October 2023 was reported to be 5.2%.  That’s very likely explained by the reality of the circumstances of Super.com customers.  Since Super.com offers customers the unique opportunity to earn money, save money, get cash advances and build credit - all in one place - our customers are often in a middle or lower income bracket, taking on gig work to make ends meet.  The kicker?  In the past 6 months, nearly 70% of survey respondents have considered getting another job (e.g., adding to the number of jobs already held, not replacing) to pay their bills.

What are the impacts of gig work on the lives of gig workers?

As mentioned above, Super.com customers stated the top 3 reasons they’d turn to gig work are: financial necessity (62%), flexibility (46%), and entrepreneurial experience (23%).  Of those that are already gig workers, they’ve seen some pros and cons in the outcomes of gig work in their lives.

On a positive note, as mentioned above, 50% of respondents reported that gig work does enable them to improve their chances of financial stability.  The Super.com customers I spoke with primarily discussed gig work as either a supplement for when they need to earn additional cash (e.g., around the holidays) or a much-needed entry into the workforce, citing that without gig work, they wouldn’t be able to qualify for a full time role that might require a 4 year degree or other qualifications that they simply didn’t have.  These customers are just grateful for the opportunity to have jobs that enable them to keep their family finances afloat.

There were, unfortunately, some negative sentiments as well.  Respondents who had hoped that gig work would improve their work life balance simply didn’t find that to be the case, with 72% of respondents indicating that it has had a neutral to significantly worse impact on balance.  In addition, ⅓ of respondents indicated that it has worsened their stress levels and taken a toll on their mental health.  When asked why, customers cited the rising cost of living (from housing to food to child-related expenses) meant they simply had to do more work to keep up.

It’s clear that gig work, like any job, has its pros and cons.  But, as one Super.com customer put it, “I’m grateful to have the opportunity to do it.  It’s how I make money.  That’s how I feed my family.”  As another put it, “It gives my family and I stability - a feeling I lived my entire childhood without.”  The fact that it enables 50% of our customers who responded to find that financial stability is a feat to be celebrated - while we think through how to enable the remaining 50%.

Disclaimer: Super created this blog for general informational purposes only. The contents of this blog do not constitute professional financial advice. We strive to keep this information accurate and up to date to the best of our knowledge; however, we cannot guarantee continuous accuracy. Contents of the blog are subject to change without notice.

Topics:
No items found.
Radhika Duggal
Last update: 
Jan 16, 2024
, 
5
 minutes to read
Share article
- copied!
pageurl
You may also like
How to cook a holiday feast on a budget
How to decorate for the holidays on a budget
How to create a budget for the new year
How to budget for the holidays
How to save money this holiday season
Affordable ways to stay healthy this summer
How to maximize summer sales
Cheap activities to do with kids
Cheap gardening tips
Summer vacation ideas on a budget
Cheap decoration ideas for the Fourth of July
Cheap things to do on the Fourth of July
Things to do on the Fourth of July with kids
Fourth of July BBQ ideas on a budget
Budget-friendly Fourth of July party ideas
How to save money by being smart with taxes
How to save money by buying non-branded food
How to save money by cooking at home
How to save money with a 50/15/15 budget
How to save money with automatic savings apps
How to save money and still have fun
How to save money when you're self-employed
How to save money on vacation
How to save money for a car
How to increase your savings account
How to save money fast
How to save money for a house
50 best ways to save money
How to save money if you live paycheck to paycheck
How to create an emergency fund
How to create a family budget
How to stick to your budget
Why is budgeting important?
What is the debt snowball method?
How to organize your bills
How to budget for a vacation
How to make an annual budget
How to make a monthly budget
How to budget for summer
The beginner's guide to budgeting
What is zero-based budgeting?
10 budgeting tips for beginners
How to save on hotels
How to save on car rentals
How to save on flights
How to save on your electric bill
How to save on groceries
How to save at restaurants
How to get a Sling TV free trial
How to get a FuboTV free trial
How to get a YouTube TV free trial
The ultimate guide to Hulu plans
How to maximize your Netflix subscription
How to get Starz for cheap
How to get an Apple TV+ free trial
How to get a Paramount+ free trial
How to get a Hulu free trial
How to get Disney+ for cheap
Top 5 hacks to save on gas
Top 4 online gigs for cash-strapped college students
3 proven side hustles to make money fast

About author

Radhika Duggal
Chief Marketing Officer, Super.com

Radhika is currently the CMO of Super.com, the mobile commerce and fintech company that enables consumers to experience more of what life has to offer. Prior to Super, she led underbanked marketing as a CMO at Chase. Radhika earned an MBA in marketing from Columbia Business School and a B.A. in marketing and international business from the Leonard N. Stern School of Business at New York University. She is also a published author, who teaches Consumer Behavior at the Leonard N. Stern School of Business at New York University.

View all articles
No items found.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.