Editor's Note: This story originally appeared on FlexJobs.com.
Amid remote work debates, rising inflation, and growing economic and career uncertainty, working professionals are exploring more flexible career options to make a living and achieve financial security. Chief among those flexible work options? Side hustles and remote work.
Ahead of Financial Literacy Month in April, FlexJobs and Remote.co developed a survey on finances and side hustles, polling over 2,200 U.S.-based professionals between Feb. 4 and Feb. 18, 2025.
The goal of the survey was to better understand workers’ financial and career decisions in the face of work-related issues, such as return-to-office mandates, high competition for jobs, and fears of getting laid off.
The results of the joint FlexJobs and Remote.co survey, compiled here, show that many professionals are willing to quit their full-time jobs in search of better financial opportunities, including pursuing full-time side hustles.
“With the career landscape rapidly changing and remote work remaining a top priority for the majority of workers, we’re seeing professionals across experience levels actively seeking ways to improve their financial situation and work-life balance through highly strategic job moves, including freelancing and entrepreneurship,” said Toni Frana, career expert manager at FlexJobs and Remote.co.
1 in 3 Consider Quitting to Turn Side Hustles Into Full-Time Jobs
According to the report, the majority of respondents engage in side jobs to supplement their income.
Specifically, 61% said they have had (36%) or currently have (25%) a side hustle, suggesting the strong need for workers to supplement their primary income.
Meanwhile, 41% of workers have quit or considered quitting their jobs to pursue a full-time side hustle. Of these workers, almost one-third (31%) have considered quitting their jobs to work a side hustle full-time. An additional 10% have already made the leap.
This shift from traditional full-time employment to the pursuit of full-time side gigs signals that today’s workforce is searching for greater career agency and financial security.
Financial Security Is a Priority
However, most working professionals prioritize financial security, requiring their side hustle to nearly match their current salary before they leave their jobs.
In fact, 57% of respondents expressed their need for a side hustle to generate at least 75% of their current salary before leaving their full-time job. The remaining 43% of respondents outlined the following salary requirements in order to leave their current jobs for a side hustle:
- 51% to 75% of their current salary (22%)
- 25% to 50% of their current salary (16%)
- Less than 25% of their current salary (5%)
“Side hustles can be a profitable stream of income, but they require workers to have a solid financial foundation in place,” Frana said.
“This Financial Literacy Month, we encourage workers to assess their risks, know the market, build a solid emergency fund, and create a detailed budget before they make the leap to a full-time side hustle.”
Can You Afford to Quit Your Job? For Some, the Goal Is $100,000 or More
We asked professionals how they define financial success and what strategies they consider most effective in their efforts to grow their salaries.
Over half (51%) of survey respondents define financial success as earning an annual salary between $100,000 and $250,000. The remaining 49% of survey-takers define a financially successful salary as:
- $75,000 to $100,000 (26%)
- $250,000 to $500,000 (17%)
- $500,000 and above (6%)
The Best Ways to Boost Income
When asked about the best way to increase their salary, 54% of survey respondents said they believed changing jobs was a more effective strategy. Conversely, 46% said pursuing a promotion within their current company was a more effective way to boost their salary.
Among those seeking external positions, 77% of respondents said they “frequently” (40%) or “occasionally” (37%) think about changing jobs for better financial opportunities.
Comparatively, less than one-quarter (23%) said they “rarely” (17%) or “never” (6%) consider changing jobs to improve their finances.
With more than three-quarters of survey respondents asking, “Can I afford to quit my job?” in pursuit of better financial opportunities, it’s clear that professionals are weighing the pros and cons of traditional full-time jobs versus side jobs in their quest for financial security and work-life balance.
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