Nearly 70% of Gen Z Embracing Freelancing: 'Traditional Jobs? Never

Generation Z, comprising individuals born roughly between the mid-1990s and early 2010s, is increasingly drawn to freelancing, with nearly 70% either actively engaging in freelance work or expressing intentions to do so. For many in this cohort, the idea of pursuing traditional job applications holds little appeal, reflecting a shift in attitudes towards work and career paths. Factors such as flexibility, autonomy, and the desire for varied experiences contribute to the growing embrace of freelancing among Generation Z.

In 2024, the American workforce is on the cusp of a significant generational shift, as Gen Z workers are anticipated to outnumber baby boomers for the first time. Despite being the youngest cohort in the workforce, with the oldest members being 27, Gen Zers find themselves under close scrutiny, with various aspects of their professional lives, from email signatures to salary expectations, being closely examined. CNBC Make It delves into how Gen Zers are reshaping career advice, office culture, and more.

Defined as individuals born between 1997 and 2012, Gen Zers are challenging traditional notions of entering the workforce. A notable 70% are either freelancing currently or plan to do so in the future, according to a February 2024 survey by Fiverr, which polled 10,033 Gen Zers worldwide.

Freelancing, characterized by working independently rather than for a specific company, is embraced by over half (53%) of Gen Zers who dedicate full-time hours to freelance projects, as per a May 2024 Upwork survey of 1,070 individuals from this generation. Notably, Gen Z is the demographic most inclined to adopt freelancing, as highlighted in Upwork's recent Freelance Forward Report.

The motivations driving Gen Z's pursuit of freelancing are diverse. According to Fiverr, 44% aim for financial stability, 30% seek flexibility to travel and work from any location, 25% aspire to entrepreneurship, and 20% envision an early retirement.

"I think a lot of people my age or graduating are coming into a world, post-pandemic, where it feels like there's more uncertainty than ever," observes Kate Brunotts, a 24-year-old freelance writer and music producer based in New York.

For many in Gen Z, venturing into the freelance realm represents a quest for autonomy and control amidst an uncertain landscape.

‍"Transforming Passions into Careers: A Seamless Journey"

Sophie Riegel, 23, graduated from Duke University in May 2023 with a degree in psychology. Since her college days, she has been generating income by selling used clothing online. Additionally, she earns money through personal coaching and public speaking engagements focusing on mental health and Gen Z issues.

Remarkably, Riegel's online clothing business alone brings in six figures annually.

Upon graduation, Riegel didn't entertain the idea of applying for traditional employment. "I never considered applying to a job," she remarks. "It seemed like such a foreign thought to me. I don't even have a resume." She suggests that for many Gen Zers, the allure of freelancing lies in pursuing work they are passionate about.

"I think people are starting to realize they can take control of their life in a way that they didn't think they could before," she reflects. "And that passions can turn into jobs really easily."

‍"I've come to really appreciate the value of my time."

For Harlan Rappaport, the appeal of freelancing lies in his ability to craft his own schedule. The 25-year-old, based in New York, began dabbling in email marketing for a neighbor's tattoo supply company back in 2016. Recognizing the potential to broaden his client base, he ventured into freelancing on platforms like Fiverr in 2020, shortly before graduating from the University of Michigan with a degree in business administration. While simultaneously holding a full-time job in asset management, Rappaport continued freelancing on the side. However, in May 2023, he made the decision to transition to full-time freelancing.

Today, Rappaport operates as a freelancer on both Fiverr and Upwork. In April alone, his work on Fiverr generated approximately $15,000 in revenue. Emphasizing the importance of autonomy, he states, "Personally, I've come to really appreciate the value of my time and having control over it." He structures his workday to suit his preferences, often dedicating a few hours in the morning to work before taking an extended midday break. Some days, he extends his work into the evening, while others are reserved for leisure. Rappaport observes a shifting mindset post-pandemic, noting that individuals are increasingly questioning the conventional model of rigid office hours and exploring the possibility of crafting their own schedules.

‍"It also brings a considerable amount of freedom."

Brunotts manages about eight different clients, offering a variety of content creation services ranging from audio production to writing. In total, her freelancing endeavors brought in approximately $57,000 in 2023. Having multiple clients is appealing to her because it ensures she is not overly reliant on any single source of income. While this diversity presents its challenges, it also affords her a considerable degree of flexibility and independence.

The essence of freelancing lies in this sense of control it offers. "I think just the whole concept of designing work around your life, rather than the other way around is very attractive to many people," Brunotts observes, "including myself."

If you're aiming to secure your ideal job in 2024, consider enrolling in CNBC's new online course, "How to Ace Your Job Interview," which offers insights into what hiring managers seek, body language techniques, effective communication strategies, and negotiating salary. Additionally, subscribe to CNBC Make It's newsletter for valuable tips and tricks for success in the workplace, managing finances, and navigating life

Source: CNBC