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What Students Should Know About the Gig Economy

Posted by Shafa Rasyidah on Jul 12, 2022 11:48:04 AM

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The fairly high level of competition does not only apply to full-timers or recent graduates who are starting to look for work, but also during the apprenticeship phase. Students are finding it increasingly difficult to stand out and gain valuable opportunities for work placements, internships, and even apprenticeships. Because of the growing popularity of the gig economy, competition for a student's career is no longer a problem. Here's why:

1. Increase in productivity

In today's digital age, becoming a gigger is one of the most promising careers. The digital era is currently actively expanding educational opportunities and online employment. This encourages students to fill their free time and maximise their time by not only studying but also working from home (WFH). This way, not only knowledge but also experience and income are gained. The flexibility provided by the gig economy is unquestionably beneficial for students in adjusting their time to work with their academics. This can help students become more productive, resulting in increased job satisfaction and performance for both students and companies.


2. Gain professional experience

On-the-job learning is an important part of the learning process, and candidates with real 'industry' experience are far more appealing to employers when it comes to hiring their next employee. Working virtually, through project-based work, freelance work, and short-term daily contracts, can provide valuable real life experience. Being a gigger allows students to try out different careers so that in the future they can determine the right career for them, gain real-world experience, learn about different work environments from different companies, and, of course, expand relationships that will be very beneficial in the future.


3. Varied and fun gigs

Monotonous work must be tedious, right? But not if you choose to become a gigger, because the experience provided to students is unquestionably different from working full-time in the traditional sense. Becoming a gigger will allow you to work on a variety of projects with different companies and teams, with varying roles and responsibilities, as well as learn about and get to know the "professional world" that you have not yet experienced. Challenging, yes, but that’s what it means to be a gigger. These lessons will also help you as a student adapt more easily in the future of work.


4. Extra source of income

Are you having financial difficulties? Don't worry, being a gigger is the way to go. One of the best parts about being a gigger is getting paid for your own efforts and by multiple employers. Gigging is also feasible while you are still studying. And, of course, that is something to be very proud of; many people will think you are great because you have made money at such a young age. You can even get that income from multiple projects rather than just one (and of course you will have the flexibility to be able to manage all of them).


5. Gain entrepreneurship skills

The gig economy has enabled many giggers, entrepreneurs, and businesses to create new opportunities. According to many sources, based on experience (academic and work) and income earned as giggers, students can recognise their own entrepreneurial skills.

John M. Barrios, Yael V. Hochberg, and Hanyi Yi show in ‘Launching with a Parachute: The Gig Economy and New Business Formation’ (NBER Working Paper 27183) that the expansion of the gig economy increases entrepreneurial activity by making it less expensive for entrepreneurs to supplement their incomes while developing their own businesses. If an entrepreneur's business fails, the gig economy provides an alternative source of income. (Data from the National Bureau of Economic Research)


Learn more about fun ways to be a gigger!

Be a gigger

Written by: Shafa Rasyidah


Topics: gigwork, Giggers, NavigatingTheGigEconomy, freelance, internship, employers, interns, apprenticeship, early career