When working a side gig or really any job the #1 priority for most people is how much they will make. So the question of how much you should make for a side gig is a very real one to ask.
You should be able to tell how much you should make through a very simple google search there are a few websites that will tell you how much the average worker makes. However, if you don’t expect to be an average worker some of these websites may not work to give you a good read.
To help you sort through the mess here are three categories of workers and some websites you can check to see how much you will make.
How much should I make in a gig economy job on the low end?
Websites to check: Glassdoor.com & Indeed.com
On the low end, I would suggest you want to make at least $10/hr in the gig economy because remember Uncle Sam has not taken his chunk out yet first. Taxes normally can be at least 20% so this would be minimum wage.
Enough To Cover Expenses
This one is obvious but you do need to at least make more than expenses to make money in the gig economy. Since gig economy jobs do not cover for costs you want to keep this in mind.
While you can drive for Lyft at 4 am in the mind of no-where you’ll probably make no money doing it and burn through gas. That gas can be written off on your taxes but that is effectively a loss. If you spend $5.00 on gas and make no money because you got no drives in an hour period that means you made -$5/hr. Or you paid $5 to work for an hour, congrats!
As Much Or More Than You Make In Your Normal Job
As a rule of thumb, you generally want to make at least how much you make in your main job while doing a gig economy job. One of the only exceptions would be if you have a highly skilled job and you just like working gig economy jobs to meet people.
How much should I make in a gig economy on average?
Websites to check: WerkQuik.com, Glassdoor.com & Indeed.com
I think most people should make $15-$20/hr depending on your location. In Toledo, while doing Lyft & Uber I consistently made $15/hr after gas and tips during daytime runs and I would make $20-$30/hr in nighttime runs.
How much should I make in a gig economy on the High end?
Websites to check: WerkQuik.com & YouTube.com
On the high end, you’ll probably make $20-$30/hr or more in a gig economy job. You making that high-income amount for a side gig really depends on a few factors.
Do you visit WerkQuik.com?
If you are looking to see really the max amount you can make working a gig economy job we are the place to come. Why? Well, our video reviews will show how much I made performing the gig. All the gigs I do a video review of offer a referral bonus so obviously, it is in my best interest to really try to make a lot per hour.
In our video reviews and written reviews, I try my hardest to really show you what working a gig is like. Your labor is the most expensive thing you have to sell so make sure you’re selling it to the right buyer. In addition, if you’re gonna work somewhere work your hardest to make the most money. In the gig economy, hard work is very obviously rewarded on hard work and a bit of luck.
Work During The Most Profitable Times
Since most gig economy jobs pay based on the free market principle of supply & demand you could also call this one “work during the most in-demand times”. If you want to make the most of your labor you need to work when your customers need you the most. This is generally when people are willing to pay more for your services.
For Example that could mean only driving Rideshare gigs during big events or during night time party hours when people are getting drunk and need a ride. For Home Rental gigs like Airbnb or HomeAway that is probably during high traffic months of your location. Finally, something like DoorDash or UberEats that revolves around people eating is obviously in demand during lunch and dinner so that is when you should work it.
Skill Is A Big Factor For Tips
If you want to make the big bucks make sure you provide the service worth it.
A big factor in making $20+/hr depends on how good of a worker you’re. If you know where to go to get high paying gig opportunities (like deliveries & runs) and what to say to get good tips you’ll make more money. It’s plain & simple.