The gig economy offers freedom, yes, but it also does away with things like job security, benefits, paid sick days, and pensions. This can create a tenuous environment for employees and can make things like retirement more precarious.
In most cases, the shifts or projects are flexible. A gig worker might have a day job where they work a traditional 9-to-5 job, and then a second “gig job” from 5-to-9 at night. Or, a gig worker might work multiple “gigs” to create a full-time job, but on a flexible or alternative schedule. Gig workers can also choose to work from 9-to-5.
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accounting icon The Gigs Go On
The gig economy has been around for a long time, even if most people don’t realize it. Even though it’s nothing new, the gig economy isn’t for everybody. While the advantages of flexibility and being your own boss are tempting, those don’t always outweigh the disadvantages of inconsistent pay or a loss of benefits. However, if you want to test a new job or add some extra income to your bottom line every month, a gig job may be the right choice for you.
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