New study finds half of tech workers have a side hustle — despite often being the best paid

A recent study reveals that a significant portion of tech workers have side hustles, despite often being among the highest earners in the workforce. The average tech employee in the UK commands an annual salary of £60,600, yet 49% of them also hold down extra jobs or freelance projects. This statistic surpasses the 30% of full-time workers who engage in side hustles, highlighting the unique nature of tech workers in this regard.

Careerminds, the organization behind the research, suggests that tech professionals may pursue side hustles to augment their disposable income or save more money. However, the reasons behind this trend are not entirely clear, as many tech workers are already well-paid, with 58% earning at least £50,000 annually. This financial security appears to contradict the need for additional income.

Interestingly, hybrid working routines significantly contribute to the prevalence of side hustles among tech workers. Nearly half (49%) of IT professionals follow this flexible work arrangement, compared to only 4% in the hospitality sector. This flexibility enables tech workers to leverage their skills for freelance opportunities, often taking on projects in their spare time, such as evenings or weekends.

Certified career coach Amanda Augustine points out that certain professions, like development, lend themselves well to freelance work. However, she warns that the most financially vulnerable workers, who often lack the flexibility to take on additional jobs, are being left at a disadvantage. These workers, who represent a fifth of UK full-time employees, frequently struggle financially, running out of money before payday on average 7.9 days early.

To cope, some have resorted to canceling subscriptions, declining social events, or skipping meals to make ends meet. The study suggests that we may be entering a challenging period for workers who cannot easily supplement their incomes.