Your Ultimate Guide to the Gig Economy
If you’re interested in finding jobs in the gig economy, you’re not alone. Over one in ten Canadian adults represent gig workers. Professionals crave the independence of being their own boss and working when they want. So, you may be wondering: what exactly is the gig economy? Although popular, gig work is a newer concept (within the last fifteen years). It’s constantly evolving with technology and hiring market changes.
What we do know is that the Canadian gig economy is booming. That’s why we made this guide - to share all the ins and outs so you can decide if it’s right for you.
Everything You Need to Know About Getting Gig Jobs
Table of Contents
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What is the Gig Economy?
Gigging is a broad term that applies to many types of work. From ridesharing for individuals to high-level business services and anything in between, many kinds of jobs fall under the umbrella of gig work. In the broadest terms, the gig economy is:
“A free market in which individuals earn income from on-demand, short-term assignments, tasks, or jobs. A gig worker is someone who completes these jobs for businesses or individuals for a profit.”
The term “gig economy” was first coined after the 2009 financial crisis. After many people lost their jobs, they turned to gigs. Then came the surge of gig economy apps like ridesharing, food delivery, and on-demand staffing. These apps allow professionals to find jobs wherever and whenever they want, catapulting the gig economy.
Pros of the Gig Economy
There are many benefits of gig work. You may want to try gigging for the following benefits:
Work when and where you want
Be your own boss
No commitment to stay with a job or company
Make extra income
Low barrier to entry
A wide variety of jobs/tasks are available
Build your skills
Gain experience fast
Participate in different events
Join the gigger network
Network for yourself
Opportunity to find the right job by trying new things
Bonus for international workers: gain local experience
Gig workers get many benefits from gigging full-time. Or, if you are in-between jobs, you could try gigging in the meantime. Gigging in-between jobs is a great way to earn money and fill gaps in your resume while searching for a new role. Plus, it will increase your chances of finding a new job through a temp-to-perm offer.
How to Get Gigs
Breaking into the gig economy can seem daunting if you don’t have any experience. Luckily there are plenty of gig economy jobs you can get without experience.
With AmbiMi, you can find your first gig in under a day! Just enter your skills and preferences, and you’ll see matches for relevant roles. Follow our top tips to get the most out of gig work.
Look for gigs that align with your goals
Try getting gigs that teach new skills
Add gigs to your resume to show potential employers
Schedule dedicated time for job searching
Network with colleagues to increase your odds of finding new gigs
Be honest to employers about what you’re looking for
Gig Work Best Practices
Gigging already gives you many benefits, but these are the top six steps you can take to thrive in the gig economy.
Select your jobs wisely (don’t apply for every role that you see)
Choose gigs that match your goals
Plan your schedule ahead of time to ensure you have enough hours throughout the week
Don’t over-schedule by filling all your available time with new shifts
Diversify your skillset by learning new skills
Treat every day as a working interview (AKA try your hardest to get a good reputation)
What is a Side Gig?
A side gig (or side hustle) is any type of employment an individual completes on top of their primary job. A side gig is included in the gig economy umbrella as a temporary job. Sometimes differing from a side hustle, which could be a permanent role or one’s own business. But many use these two terms interchangeably. An example of a side gig would be a professional who works as an Office Assistant full-time and picks up data entry gigs after 5:00 PM to earn extra money.
How to Start Side Gigging
The side gig economy is similar to regular gigs. Side gigs can help you earn extra money, explore passions, or learn new skills. Follow our top five tips for success:
Set expectations for how much extra work you can take on
Set a financial goal such as an earning goal or savings goal
Set aside dedicated time for your side gig job search and availability to work
Network with colleagues and supervisors to learn more about the industry
Prepare for tax season, which differs if you’re an independent contractor or a payrolled employee (more on that below)
Should I Talk to my Boss About My Side Gig?
You may also want to talk to your boss about your new side gig. There are different factors to consider when deciding whether to speak to them. These factors could include conflict of interest or if it’ll affect your job performance. Additionally, you can say things to increase the likelihood of your boss accepting your side gig. You may want to say something like:
“I want to make extra money and explore other industries through side-gigging. I want to learn new skills and processes to help me in this job. I’m not looking to replace this job, and I don’t want to quit. It’s a way for me to experience different jobs and make a side income. This won’t affect my current job performance. I plan to get Saturday jobs for about eight hours and leave my evenings and Sundays off. Is that alright with you?”
Signs it’s Time to Make Side Gigs Your Full-Time Job
Whether you’ve been side gigging for years or just started and fell in love with the flexibility, you may wonder if you should quit your day job. If the following signs sound like you, it may be time to take the jump to a full-time gig worker.
You have an emergency savings fund
You’ll have enough work through gigs
You’re okay with less job security
You won’t miss your old job
Then, create a plan, quit your job, and follow our tips to turn side gigs into full-time roles.
If you’re wondering whether it’s realistic to gig full-time, some professionals earn more than they would in a full-time role. Consider your weekly availability, current earnings, and potential earnings to see if it’s right for you. Then, you may want to say goodbye to your 9-5.
How Much Can You Earn by Gigging?
The short answer is that you can earn over $1000/week depending on the jobs you take and your work hours. Gigging gives you the flexibility to take on as many jobs as you want. So, your earning potential is up to you.
You may be wondering what the best gig economy jobs are or which pay the most. To earn a higher wage per hour, the top three paying gigs are:
Tax Professional
Administrative Assistant
Bookkeeper
Keep reading for the following seven highest-paying gigs.
Gig Economy and Taxes
Gig work taxes may look different from your typical tax season. It’ll also differ if you’re a payrolled employee or an independent contractor. This can raise gig economy tax issues if you aren’t prepared. So, make sure you know all the rules before tax season arrives.
For payrolled staff, taxes will be like when you’re a permanent employee. You should get a T4 from your employer of record and submit it as you normally would. Your employer will already deduct most taxes.
For independent contractors, you must track all your earnings and expenses to submit in tax season. If you get gigs through AmbiMi, we will track and send your earnings after each shift. You can also submit some work expenses since you are deemed self-employed. Deductions weren’t taken off your paychecks as you received them, meaning they’ll be due in tax season. Set aside a percentage of your earnings to be prepared.
Take the first step…
Why not give gig work a try? Whether you try full-time gigs or side gigs, you won’t know if it’s for you without giving it a go.