Freelance, Part-Time Jobs: A Viable Option Or Last Resort?

working from home Millennials

By Heesun Wee



With long-term unemployment near historic highs, it's no surprise many workers have transformed into free agents.

But younger workers-particularly so-called millennials-are embracing freelance jobs more aggressively than older peers, according to recent data.

In fact, more college graduates are ingeniously crafting a collection of part-time, freelance jobs to create the equivalent of a full-time paycheck. "We call them permalancers," said Judith Watson, associate dean of the Graduate School of Journalism at the City University of New York.

Watson said she began spotting permalancers among her students a few years ago. "The trend is simply a reflection of what's going on in many businesses," she said. The national unemployment rate slipped to 8.1 percent in August.

Gone are the days when freelance meant an occasional fringe job in between permanent positions. CUNY's Watson said many of her twenty-something students see themselves as free agents, or independent workers. They're fashioning careers outside of Fortune 500 companies. And more Americans of all professions are free agents-not just highly paid athletes.

According to a national survey of more than 3,000 independent professionals released last week by Elance, 47.3 percent identified themselves as millennials-those born from 1981 onward. Freelance work is becoming the primary source of income for the group, said Fabio Rosati, chief executive of Elance, an online platform that connects freelancers with businesses.

"For the younger generation, freelance has moved from something few people do, to a mainstream choice. Millennials are becoming freelancers faster," Rosati said.

The study also found 26 percent of the millennials surveyed have full-time jobs-in addition to freelance gigs. These workers want to supplement their income or are engineering a career shift, possibly to a different sector, Rosati said.

Millennials surveyed, who are freelancing, are also highly educated, with 77 percent possessing a bachelor's degree or higher. And 27 percent have a master's degree, according to the study.

"You have to craft your own career. It's really career management, which is part of what we teach," said CUNY's Watson. "You're an entrepreneur."

More: 7 Lessons That Older Workers Should Learn From Generation Y


Not Just Millennials Freelancing

In the Elance study, 37.8 percent of the freelancers surveyed described themselves as members of Generation X, those born between 1965 and 1980. And about 14.5 percent of Baby Boomers, those born between 1940 and 1964, said they were also pursuing freelance work.

Among all the freelancers surveyed, 57 percent said their income rose in 2012, according to the survey. In addition, 19 percent said they more than doubled their freelance income during the past year.

Survey participants also forecast freelance jobs likely to experience the most growth in 2013:


Don't Miss: Companies Hiring Now



More From CNBC



Looking for a job? Click here to get started.

Add a Comment

*0 / 3000 Character Maximum

1 Comment

Filter by:
A Edwards Anderson

I'm a generation Xer and all my work is part time. That is because I freelance. Come on...a last resort? I'm a former college professor and earn much more now than I ever would have been able to at the University. The best thing about my freelancing career is the part time nature. It gives me the flexibility to do all types of jobs. In addition, some companies have more work at different times of the year. Freelancing for several institutions keeps my in as much full time work as I can handle.

Anne Anderson
Legitimate Online Job Directory - A No scam, No mlm, No fee of legit work from home jobs. www.EJobsOnline.biz.

November 30 2012 at 11:58 PM Report abuse rate up rate down Reply

Search Articles

Top Companies Hiring

Week of Sep 28 - Oct 5
View All

Picks From the Web