Do you have a second job?
From Side Gigs to Second Careers: How Multiple Income Streams Became the New Normal
We are Stella and Amy. We share firsthand stories and perspectives that are either lost in translation or simply inaccessible to you. Together, we bridge cultural divides and bring the world a little closer—one post at a time.
The Conversation
Stella and Amy had a conversation with May, a Gen Z in Taiwan. She works as a Management Associate at one of the top banks in Taiwan. On top of her day job, she makes fun shorts on Instagram.
May: I think one defining characteristic of Gen Z is how value-conscious we are. With multiple income sources available today, the ROI of time invested in traditional career advancement might be much lower than starting a side hustle.
Stella: How common are side hustles among Gen Z?
May: I remember reading that about 70% of Gen Z in the States have side hustles. I've noticed similar trends among my friends in Taiwan.
Amy: *laughs* So what kind of side hustles are we talking about here? Besides being social media influencers like yourself?
May: One friend manages multiple gigs - they run paid social media ads for businesses, work as campus ambassadors, and have multiple consulting projects. They make about $600-700 USD monthly just from the ad management side hustle.Â
Stella: Do young professionals like yourself feel anxious if they don't have multiple income streams?
May: I wouldn't say anxious, but many view diverse income sources as a form of freedom. It gives you confidence knowing you're not completely dependent on your main job.
The Cocoons
Have you noticed the rise of the second job or side hustle in your circle? From our podcast guests to headlines, we're increasingly seeing professionals either juggling multiple roles or taking the bold step to leave their primary careers to pursue their passion projects. Even ourselves, we became creators that record podcasts and write Substack as our passion projects while working full-time jobs. This shift represents more than just a desire for additional income—it's reshaping how people view their careers and professional identities.
Interestingly, this phenomenon transcends geographical and generational boundaries. From Gen Z white-collar workers in Taiwan to seasoned tech professionals in the United States, many actively pursue new projects, multiple income streams, or even alternative careers.Â
What’s the Side Hustle, and Why’s Everyone Doing It?
Several podcast guests shared their unique journeys with us, each hustling in a totally different way alongside their main gigs. From passion-fueled pursuits to cash-driven side gigs, their stories dive into the changing face of work and what’s fueling these bold career moves.
The Hustling Gen Z
Gen Z is leading this transformation. With studies showing that approximately 70% of Gen Z workers in the United States are freelancing or plan to. This generation brings a distinctly pragmatic approach to career development, carefully weighing the return on investment of their time and effort.
According to our podcast guest May, who is a Gen Z working as a management associate at a top bank in Taiwan, she observed a similar attitude towards work among her peers. Unlike previous generations that might have focused solely on climbing the corporate ladder, Gen Z demonstrates a strong preference for diversifying their income streams. They're particularly savvy about the potential of digital platforms and social media monetization, viewing traditional career advancement as potentially less profitable than developing multiple revenue streams.
A few interesting side hustles among this demographic include:
Digital marketing and ad management gigs, with some earning significant supplementary income
Content creation and social media influencing
Trading stocks and crypto
Over-employment — working two or more full-time remote jobs at the same time
And more
Gen Z is particularly drawn to the idea of creative works and being their own boss. 57% of young people want to be influencers according to a 2023 Morning Consult survey of 1,000 Gen Zers. Â As many of them are focused on building something on their own, maybe a YouTube channel or a podcast, they are less attached to their day job.Â
Building a Lasting Business While Keeping Your Day Job
However, is it only Gen Z who are exploring alternatives to their day jobs?Â
No. We see many of our peers (we are millennials), going down the same path.Â
Our podcast guest, Wang, is a millennial and senior data engineer. She and her husband built a successful children's camera brand online that eventually secured placement in Target stores. While she maintains her full-time job as a stable income base, her husband left his engineering position to manage their e-commerce business full-time.
Instead of expanding their income streams from multiple gigs, Wang and her husband focus on building a lasting business for themselves. Rather than pursuing quick profits through drop-shipping (a very popular yet volatile e-commerce strategy) or marketplace arbitrage, they focused on building a recognizable online brand. Their strategy includes:
Long-term brand development over short-term gains
Quality product differentiation (They talk directly to Chinese suppliers and participate in product design.)
Direct control over inventory and customer experience
Wang and her husband’s approach is more like diversification of their portfolio. Wang’s full-time job serves as their baseline, while they can invest in a new venture and build a new business.Â
A Whole New Venture: from Manager at Meta to Hypnotist
And, yes. There are people who are willing to "all in" on their new venture and give "it" a shot.
One of our podcast guests, Z, is a former engineering manager at Meta who made a big career transition to become a full-time hypnotist. Quite an unconventional move since Meta usually offers an irresistible package, the so-called Golden Handcuffs.Â
The transition wasn't driven by dissatisfaction with the tech job; Z is actually open to returning to a tech job, but rather by discovering a new passion.Â
Z shared that it is crucial to make peace with your current role before making a change, rather than leaving out of frustration. He approaches career changes as a way to expand horizons rather than escape problems, while maintaining openness to returning to previous industries.
Is this the New Normal?
Our relationship with jobs is changing. It used to be that people worked multiple jobs because their primary jobs did not pay enough. Still, many are juggling many jobs to make ends meet, but we observe more and more people want to expand their career options out of needs that are higher up in Maslow’s hierarchy of needs.
Our Gen Z podcast guest May put it very well. Multiple income streams are increasingly seen as symbols of freedom, autonomy, and security rather than necessities born of financial pressure. What do people look for from these side hustles and ventures?
Flexibility in Career Identity: Maybe it’s dull to just be recognized by your occupation? People are more comfortable having multiple professional identities simultaneously now. People don’t want to be married to their jobs.
Risk Management: Commonplace mass layoffs in the past few years made many realize that no job is not secure. Multiple income streams or career alternatives provide a plan B when one needs it.
Personal Fulfillment: Side hustles often allow people to pursue interests that their primary careers might not satisfy. It is a way to feel more in control of their lives, especially when living in an environment that can make you feel like a corporate cog.
Technology Enablement: Digital tools, social media platforms, and AI tools have made it easier to start and manage multiple ventures. The cost of starting something new is lower now.
Careers are no longer linear paths but rather portfolios of experiences and opportunities. As this trend continues to grow, it's likely to further reshape workplace norms and career expectations.
We are a part of the movement by writing The Cocoons. Please share your thoughts, or even better, your ventures with us in the comments.
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We are Stella and Amy. We share firsthand stories and perspectives that are either lost in translation or simply inaccessible to you.
