Can Gen-Z sustain themselves by working in the gig economy?

While scrolling on Instagram reels, if you haven't stumbled upon a teenager struggling hilariously with a reality check during their summer internships (you actually have to work!), your algorithm probably concluded that you're not quite Gen Z. 

The modern workforce is witnessing a shift as many young are ditching a full-time job in favour of a freelancing career. 

According to some estimates, 43 per cent of Gen Z in the US works in the gig economy. 

It’s an escape from the “soul-sucking" office culture as well as a swifter path to launching a career and stacking the fresh resumes. 

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The traditional college-internship-job route has been replaced by a competitive and entrepreneurial spirit. We want to move mountains before we even graduate college, which is most readily attainable within the realm of freelance work. 

But is this shift a commendable celebration of individualism and adaptability, or does it signify a disconcerting departure from the long-established path towards secure and stable careers?

Why do we levitate towards the gig economy?

We’re in a landscape dominated by social media influencers advocating passion over practicality, memes mocking the 9 to 5 grind, coming-of-age films with a lead who has a whacky, non-traditional job and portraying corporate employees as 'NPCs', or non-playable characters.

Our generation can't help but feel that pursuing a secure career is seen as too "normie." 

As we’re nudged towards a non-conformist approach to work, the post-pandemic era has unveiled a surprising ease with which Gen Z wants to earn.
No forced office time or politics, reduced commuting and flexible working hours attract young workers to this more comfortable pace. 

As an undergraduate student with peers who all share the anxiety of feeling like they just don’t fit into an office atmosphere or a singular career path, the gig economy seems like an answer to all our prayers: creative control, a chance to diversify our skills and work in different domains on our own terms. 

As digital natives, we’re a generation that seizes opportunities to monetise our skills. Whether it be Etsy, TikTok or OnlyFans, there’s a niche for everybody to profit from. 

Brand deals on a rapidly growing social media account can accelerate your career much quicker than conventional jobs. 

As a part of the impatient-to-earn Gen Z, I have considered racing the social media tracks for an easy income far too often. 

We like taking shortcuts. 

Most corporate newbies I have encountered all share the sentiment that companies eventually shape employees to invest minimal effort while maximising their paid hours: “Why should I work on filling data in excel sheets when I can be out in the field doing consulting?”

Red flag: It can lean towards being precarious and unrealistic

But Gen Z’s romanticised spell of working at the most odd hour from a coffee shop with no ‘boss’ can easily be broken with a few hard-hitting questions: How will you afford unsubsidised healthcare? 

Is it okay if you’re not paid for sick leave?
What if your clients drop you?
Did you pay a self employment tax?
Can you budget your business costs?
Is your business insured?
What about pensions?

As proud as we are in valuing passion over disingenuity, we’re unfortunately also a generation lost in aesthetics over facts, easily enticed by unsustainable earning methods. 

In freelancing, innate talent can often lead to a larger paycheck than a stable job. But many gig economy participants, especially those who promote it, often come from some form of wealth. 

For someone struggling to make ends meet, a lifestyle of uncertain opportunities and always being on the look-out may not be feasible.

In the quest for structure and advancement, a secure job emerges as an appealing choice. 

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No fretting about the uncertainty of work; designated shifts offer focus without the added anxiety. 

The best part? Post-shift hours and weekends are all yours for some much-needed "me time." Not to mention the chance to connect with a work community and expand your network to learn from fellow professionals.

Your work ethic will lead your way

There’s no bashing of either approaches, rather, a focus on investigating each beyond the aesthetics and words of privileged members of a high economic class. 

Freelancing is a playground for the self-motivated, self-disciplined, and fiercely talented. It's all about weighing the risks, making sure your skill and freelancing income skyrockets enough to forgo those corporate benefits. 

If not, there's no shame in the 9-5 grind; talent finds its place there too.
You’re not a “normie” or a “suit”, it's about embracing what works best for you.

You can take up a passion project, a side hustle that adds a spark to your full-time job. 

Diving into the gig economy doesn't have to be an all-or-nothing affair; it can be a safe, less risky way to explore your ambitions. 

In fact, it's a fairly common route that's statistically proven to make your 9-5 job more bearable. Who knows, this side gig might just be the game-changer you've been seeking.

Source: Wion‍