Gen Z, the generation designated by the U.S. Census as born from 1997 to 2013, has excelled in the workforce for the wrong reasons: According to a survey by Resume Builder, 74% of managers find it more difficult to work with this generation compared to others, and according to a survey by Morning Consult, 57% of Generation Z are willing to completely abandon the standard 9 to 5 to become a social media influencer.
But a new report from the Washington Post has found that there’s one area Gen Z is willing to put more effort into: online side hustles, including creating revenue from social media.
The outlet spoke to several Gen Z hustlers who earn up to $8,900 a month, or six figures a year, doing everything from making financial advice videos to offering travel planning services.
Related: The unexpectedly most popular side business of the decade has low startup costs and high margins
The effort, the report points out, is because Generation Z came of age during the 2008 financial crisis, spent crucial years of remote schooling during the pandemic and observed recent waves of layoffs as entry-level workers. Now they are trying to adapt to rising costs of living that appear to outpace wages.
“Things have changed to just being able to afford the normal things in suburban middle-class America,” Colin Stroud, a 24-year-old based in Columbus, Ohio, told the Washington Post. “You have to do extra things to do that.”
Stroud said he and his wife went from paycheck to paycheck to making $3,000 last month with just their side hustle. He gained an audience after posting on LinkedIn how to fly to Hawaii “for free” on credit card rewards points, and now he makes money by charging clients for consultations and trip planning.
Related: Generation Z’s top career aspiration is to become an influencer, according to a new report
“Despite a strong job market, many young people have difficulty finding work, which may prevent them from reaching their financial goals, such as renting their first apartment or paying off student loans,” said Courtney Alev, consumer financial advocate at Credit Karma, in a March report from the company. “As a result, Gen Z is getting creative about ways to make money, and many are turning to social media and online platforms to earn some extra cash.”
According to the Credit Karma report, 47% of Generation Z said they made more money on social media than they made at a traditional 9-to-5 job.
Respondents used money from online businesses to save money, invest and travel.
Nearly half of Gen Z and millennials who responded to another survey, this one from Lending Tree, said they always plan to have a side business.
The same survey showed that 80% of Gen Z and millennials with side hustles rely on extra money to make ends meet, and that more than half of Gen Z ages 18 to 26 have a side hustle.
Related: A popular online course ‘Side Hustle’ is under investigation after customers complained about its misleading claims