Pop Quiz
A lot of people make false assumptions about independent contractors. Test your own knowledge with these seven questions.
All day, every day, people make assumptions about independent contractors that are wrong. Freelance busting is rooted in the notion that people would prefer to be employees, something that is not true of most independent contractors, and that is not true of most Americans.
A new compilation of research just came out from Hostinger that I think might surprise a lot of readers. It may be especially surprising to lawmakers who think they’re doing the right thing by restricting independent contracting. (Spoiler alert: They’re wrong.)
So, here’s a pop quiz based on that new Hostinger report. Seven questions to test your own knowledge.
Once you click on an answer, you should be able to see other people’s answers, too. (This is my first time using Substack’s poll feature—hopefully it works as it should.)
Either way, the real answers to each question are down at the bottom of this column.
Good luck!
The Answers
Q1: Which country has the highest percentage of side hustlers?
According to Hosinger’s report, 36% of Americans have a side hustle. That figure is only 19% in the UK and 28% in Canada.
Q2: Who is more likely to have a side hustle? People with or without kids?
The answer is people with kids. Some 45% of parents of children younger than 18 have side hustles, while 36% of people with no children, and 28% of people with adult children, have side hustles.
Q3: What percent of side hustlers have household incomes over $100,000?
About 45% are from households earning $100,000 or more. Another 35% have household incomes between $80,000 and $99,000.
Q4: Which generation has the highest percentage of side hustlers?
Gen Z is the big hustler here, with 48% of people ages 18 to 27 having a side gig. Those percentages are smaller for Millennials (44%), Gen X (33%) and Baby Boomers (23%)
Q5: What is the average monthly side hustle income?
The answer is $891.
Q6: Which generation has the highest side-hustle income?
Younger generations report higher earnings. Millennial side hustlers make an average of $1,129 per month. Gen Z is $958, Gen X is $751 and Baby Boomers are $561.
Q7: What percent of Americans with side hustles earn more money while working fewer hours than they would in a traditional salaried position?
Around 43% of Americans with side hustles earn more money while working fewer hours than they would in a traditional salaried position. This trend is stronger among younger generations, particularly Gen Z and Millennials.
Read the Full Report
Hostinger took all of this information and a whole lot more from a combination of sources that includes Bankrate, Marketwatch, the U.S. Census Bureau, Quicken, CNBC and Visa.
To read the report and find links to all of its source material, check out the Hostinger writeup here.