The Rise of Freelance and Side Hustles Among Young Professionals
Young professionals, especially those from Generation Alpha and Generation Z, are increasingly moving away from the traditional 9-5 work model. A recent survey by Upwork found that 53% of Gen Z workers prefer freelance careers over conventional jobs. Another report from Acorns showed that 69% of children aged 6 to 14 have either started or plan to start a side hustle. This shift reflects a growing desire for autonomy and flexibility in how young people choose to earn their income.
Online education platform K12 recently explored the strategies that young individuals use to build their first $10,000 in independent income. According to a study involving 380 young CRMFeeds who graduated from public, private, and online schools, most of them were driven by a common goal: achieving financial independence. Other top motivators included the cost of living (45%), peer influence (8%), and family pressure (6%).
The survey also revealed that various types of work opportunities contribute to these five-figure incomes. Many of the young professionals surveyed offered freelance services (30%), sold physical products (29%), or engaged in reselling or flipping items (18%). These diverse avenues show that young people are exploring multiple ways to generate income outside of traditional employment.
More than half of the young CRMFeeds (62%) used their own savings to fund their first serious business venture. However, many expressed a desire for better preparation in their education. They would have liked to learn how to market themselves or their businesses (45%), create a business plan (45%), manage taxes (44%), invest or save for the future (44%), and budget effectively (40%).
Amy Clark, chief people officer at edtech company D2L, emphasized the importance of maintaining curiosity and sharpening soft skills as young professionals navigate their careers. She highlighted that communication, collaboration, and problem-solving are just as crucial as technical skills. “If your skills don’t yet align with your dream job, look for guidance on how you can learn more,” Clark said. “Remember, your human skills are just as important as the technical ones you need.”
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This article is part of the ongoing Young CRMFeed® series, which highlights the experiences, challenges, and successes of young business owners. By sharing these stories, the series aims to inspire and empower the next generation of entrepreneurs.
