If you’re looking to supplement your current job or are just looking to earn some extra income, then you have most likely faced the dilemma of choosing between a side hustle or a part-time job.
In this article, we will go over the difference between a side hustle and a part-time job, as well as which is better for you depending on your circumstances and goals.
What’s the difference between a side hustle and a part-time job?
A side hustle is additional work to supplement one’s primary income source, while a part-time job is a form of employment that requires fewer working hours than a full-time job.
Sounds similar, right? It’s easy to think this, but there are some key differences between them.
Side hustle
- A side hustle is often based on one’s high-income skills or is a monetized passion or interest that one does without any employer
- Requires creativity and interpretation to be created and planned by an individual
- Side hustles offer flexibility and more control over how and when individuals work
- Volatile and inconsistent income based on a number of variables
- Often riskier; individuals may be needed to provide time, money and resources upfront
- Side hustles have the potential to grow and scale into bigger, more profitable operations
Part-time job
- Involves working for an employer
- Can be found through job searches, such as on job searching sites like Indeed
- Part-time jobs typically involve fixed hours that employers expect employees to adhere to
- More stable and predictable income
- Less personal risk; employees typically know what they will gain
- Part-time jobs typically have limited growth potential
To summarize, side hustles are more flexible and riskier, but have a higher potential for success and long-term profit. On the other hand, part-time jobs are more secure, offering a stable source of income.
Let’s look at some examples of each to give you a better idea of what each will consist of.
Side hustle
- Digital freelancer
- Blogger
- Graphic designer
- Tutoring
Part-time job
- Fast food attendant
- Waiter
- Customer service
- Brand ambassador
Now, let’s discuss which one is better for you based on your situation.
Side hustle or part-time job?
Choosing between a side hustle or a part-time job as a means of earning extra income boils down to your current situation as well as your goals. For example, if you are a teenager in high school or a college student attending a university, then a side hustle would better conform to your situation.
Which is better for you
What are you trying to accomplish? How much free time do you have available? Ask yourself questions like these to see which of the two would be a better fit. If you’re still stuck, then consider these variables:
Financial goals
If your primary goal is to have a secure source of income with benefits, then a part-time job would fit you better. Conversely, if you are willing to invest time, effort, and money into a venture that you believe will yield profit and understand the financial risks, then a side hustle would better align with your financial goals.
Risk tolerance
A side hustle would better suit you if you are comfortable taking on risk and do not expect immediate returns. However, if you wish to have a predictable income and are not comfortable with risk, then a part-time job would be a better fit.
Interests and skills
If you possess a particular set of skills or wish to pursue a passion or interest, then a side hustle would better suit you. On the other hand, if you wish to gain experience in a particular industry or job position, a part-time job would be more appropriate for you.
Time commitment
Consider your current responsibilities and gauge how much time you are willing to spend on gaining an extra source of income. Part-time jobs can offer a clearer understanding of how much time you will need to commit, while a side hustle can vary, meaning that it can be more time-intensive or not take up much time at all.
Remember that there is no one-size-fits-all answer. For some, a side hustle will be better than a part-time job. Similarly, a part-time job will be better than a side hustle for others. It’s okay to not know. Experiment. If it doesn’t work out, then try something else. Whatever you choose, have full confidence in yourself.
Hopefully, this article was useful to you. If you enjoyed it, then check out our other posts.
