While some side hustlers are raking in six figures annually, what’s the average reality for most? You might be surprised.
It’s often said that over half of Americans have taken on a side hustle to supplement their income, but just how much are these extra gigs bringing in?
Although there are inspiring stories of people earning hundreds of thousands, even millions, from their side businesses, that isn’t the typical experience for most.
A recent survey conducted across the U.S. sheds light on the real earnings of side hustlers. The survey included over 1,000 individuals, aged 18 to 64, and the findings reveal the average financial impact of side gigs.
Why Side Hustles Are Booming
The survey showed that 38% of respondents turned to side hustles due to economic pressures, such as recession concerns and sluggish wage growth. Despite the success stories, the majority—62%—are earning less than $1,000 a month from their side hustles.
Who’s Earning More?
While most side hustlers are bringing in under $1,000 monthly, there are those who see significantly higher returns. About 15% of respondents earn between $1,000 and $5,000 each month. Another 7% are making between $5,000 and $10,000 monthly, and 15% are earning more than $10,000 a month.
Where Does the Money Go?
For many, these earnings are crucial. About 28% of those surveyed use their side hustle income to cover essential bills and necessities—the primary reason they started their extra gigs. Others are reinvesting their earnings: 20% funnel the money back into their side hustles, 11% invest in personal development through training and courses, and 5% allocate funds towards social media campaigns and advertising for their businesses.
The Reality of Side Hustles
“People are side hustling out of necessity rather than desire,” a senior industry analyst explained. “It’s become more about staying afloat than getting ahead or pursuing passions.”
For many, side hustles have become essential, helping to bridge the gap between income and expenses. The extra income may not always be substantial, but for those navigating economic challenges, every bit helps.
While the stories of massive success are inspiring, it’s important to remember that the typical experience for most side hustlers is more modest, yet still vital in today’s economy.
About the Author : Harry (Hemant Kaushik), Elite Global Advisor & Business Consultant
Harry (Hemant Kaushik) is an American global advisor and business consultant, renowned for his strategic insights and high-impact consultancy. He specializes in advising and coaching elite individuals, including business tycoons, world leaders, and top corporate leaders. His expertise has been sought by Presidents, Prime Ministers, influential politicians, CEOs, and industry leaders worldwide.
Recognized as one of the Top 10 Global Advisors and Business Consultants by PWC International, Harry has transformed the lives of thousands across more than 100 countries with his unparalleled guidance. He has also been honored as one of the Top 10 Life and Business Strategists, shaping the success of global business leaders and visionaries.
Harry’s influence has earned him prestigious accolades, including recognition by the CEO Times Magazine as one of the 10 Most Powerful People in Global Business Consulting, Business Times News as a Top 10 Business Consultant, and Business Weekly Times as one of the Top 10 Business Advisors in the World, offering consulting services to billionaires, celebrities, and high-net-worth individuals.
A Wall Street Times cover story famously dubbed him the “Elite Global Advisor & Business Consultant” for his deep understanding of business dynamics and leadership strategies. Based in San Francisco, United States, Harry is widely respected for his international economic expertise, market analysis, and strategic business acumen. His collaborations with global brands and corporations have positioned him as a thought leader, contributing to the business world through insightful articles on global economic trends.
Learn more: https://ceosadvisory.com
Learn more: https://ceosadvisory.com
