67 Per Cent Of Gen Z View Income Stacking As Path To Financial Security, Says Report

A new report by Fiverr has revealed that 67 per cent of Gen Z employees feel having one job alone is no longer sufficient to attain financial security. Rather, they are opting for “income stacking”, thus creating more than one income stream, to insulate themselves against an unstable job market.

The Fiverr Next Gen of Work report surveyed over 12,000 Gen Z and Gen Alpha individuals in the US, the UK, France, and Germany. Findings revealed that younger employees are reconsidering conventional jobs and welcoming freelancing, online work, and innovative endeavours to guarantee a continuous income.

The trend indicates how the younger generation perceives work differently than the previous generations. For most young people, security does not imply keeping a job for years, but being able to thrive and make money in other ways.

Single-Paycheque Panic

The report mentioned the phenomenon as “single-paycheque panic”. With escalating living expenses, economic uncertainty, and less long-term job security, many young employees no longer believe in a single paycheque for financial stability.

Michelle Baltrusitis, Fiverr’s Associate Director of Community and Social Impact, said that Gen Z is not declining work, but rather, redefining it. “Confronted with economic instability, Gen Z is pursuing multiple streams of income because depending on a single job seems too precarious,” she said.

The research revealed that 56 per cent of the people believe that conventional employment will become a thing of the past. Approximately 38 per cent are already freelancing or intend to do so in the near future. Working for a big company ranked low, with only 14 per cent of Gen Z finding it an essential career aspiration.

Creating Freedom through Flexibility

To most Gen Z employees, income stacking is not merely about earning more money, but about freedom. Freelancers and digital content creators are free to work from anywhere, select their projects, and follow their passion along with their primary employment.

The report also featured stories like that of Carissa Ferguson, a 20-something musical theatre performer from New York, who has earned more than $144,000 on Fiverr through voiceovers, copywriting, and content creation. Within a year of graduating college, she built five separate income streams while continuing her acting career.

“Having an array of income streams means I never say no to a creative project because I'm afraid I won't be able to pay rent. That’s a freedom most standard employees don’t get to have,” Ferguson said.

Such a mentality is a spreading attitude among young professionals who prioritise flexibility over monotonous tasks. For them, working autonomously or remotely is an empowerment, the report said.

The Role Of AI And Digital Skills

Another strong revelation in the report was how Gen Z was rapidly embracing artificial intelligence technologies in their jobs. Nearly 59 per cent confirmed that they were confident in AI assisting them in tasks like brainstorming, content creation, and enhancing creative works.

The increased convenience with digital means and artificial intelligence is also assisting Gen Zs in finding new ways of making money online. Others are building personal brands, offering virtual services, or creating social media content, the report said.

The report also mentioned that 31 per cent of Gen Alpha, born between 2010 and 2024, would want to freelance in the future, showing that this shift toward flexible and digital work will likely continue.

Changing Career Aspirations

The research revealed 42 per cent of Gen Z respondents considered flexible working hours important, followed by 34 per cent who considered a positive work culture a priority. A mere 18 per cent believed staying and developing in a single company was the wisest career move.

The report said these new attitudes are also presenting challenges and opportunities for employers alike. Employers who can offer flexibility, telecommuting, and diversity in work experience may be better able to attract and retain younger workers, the report said.

Redefining Work For A New Generation

The report said that the younger generations will not shy away from taking control of their financial futures. 

“Stacking incomes, freelancing, and online entrepreneurship are beginning to become necessary to keep up with a world where job security can no longer be taken for granted,” the report further said.