Are Side Hustles Legit Or Just Hype? Our Honest Opinion

The modern-day economic landscape has seen more people seek to diversify their earnings beyond traditional full-time jobs to achieve financial freedom.

One of the most popular ways people do this is through side hustles—that is, jobs that supplement their incomes and allow them to venture into new and sometimes more fulfilling career paths.

However, even with all the hype surrounding these side jobs, some skepticism remains about their legitimacy.

While some side gigs are lucrative enough to change people’s lives or fund their next vacation, others are schemes designed to part people from their hard-earned money.

But are side hustles legit? How does one discern between a legit side hustle job and a fraudulent scheme? 

Come along as we take a deep dive into the world of side gigs and learn how to tell legitimate opportunities from scams. 

Side Jobs and the Thriving Gig Economy

With more people taking on side jobs, the gig economy has become a major contributor to the global economy.

According to a Brodmin case study, the global gig market has grown from $204 billion in 2018 to approximately $455 billion in 2023.

This is an impressive growth, especially given that the gig market is composed almost exclusively of independent contractors who operate outside of the traditional workforce.

It includes people who provide services such as online writing, virtual assistant solutions, tutors, and rideshare drivers.

This growth is driven by the increased demand for freelancers and contractors seeking financial freedom, independence, and a chance to make extra money. 

40% of US Households Have a Side Hustle

Since the financial crisis of the late 2000s, the number of Americans needing extra income has been growing.

A recent Bankrate Survey showed that up to 40% of American households now have someone with a side gig.

Clearly, if these gigs were a scam, far fewer people would engage in side jobs.

On the contrary, some people have completely transitioned from their day jobs and now earn cash entirely from side gigs, which bolsters their legitimacy.

While making a decent living from a side hustle is possible, doing so takes time and effort. To make money, you have to be good at what you do.

Any side jobs promising quick, easy cash are most likely a side hustle scam.

Side Hustles Provide Gainful Income

A recent CreditLoan survey showed that side gigs provide many Americans with a lucrative source of supplemental income.

The survey interviewed 996 Americans with side jobs and determined some of the top-paying side gigs.

Based on these findings, here’s a table showing the median and maximum monthly incomes for some popular side gigs.

Side Hustle:

• Selling or renting property
  • Median Income: $500
  • Maximum Income: $7,000
• Ridesharing (Uber, Lyft)
  • Median Income: $350
  • Maximum Income: $3,000
• Freelance work and consulting
  • Median Income: $200
  • Maximum Income: $3,000
• Ecommerce and dropshipping
  • Median Income: $150
  • Maximum Income: $6,000
• Photography and videography
  • Median Income: $100
  • Maximum Income: $2,000

In addition to the information from CreditLoan’s survey, Canva published a study on the side gig landscape and listed some of the highest-earning side gigs as:

• Mobile app development
• Social media management
• Social media advertising
• Website design
• Ghostwriting

This is further validated by Gigworker’s list of the best side hustles for 2023.

From this data, it’s clear that side gigs are a lucrative source of income. But is the skepticism around the jobs unfounded? 

Common Side Hustle Scams 

Anyone who’s tried to secure an online side hustle recently is probably aware that not all side gigs are opportunities to earn money.

The internet is rife with side hustle scams that promise side hustlers easy money but end up being fraudulent schemes. Here are some popular examples:

Multi-Level Marketing Gigs 

Multi-level marketing brands or MLMs take advantage of their veneer of respectability to lure unsuspecting job seekers into side hustle scams. 

MLMs follow a business model similar to a pyramid scheme. They focus primarily on recruiting new members rather than selling products. 

This is the first red flag you should look for when considering an MLM as a side job. Other warning signs include:

• Expensive training and seminars
• Use of pressure tactics to get you to buy inventory
• Generic product lines with poor reviews

To avoid falling victim to an MLM scam, stay clear of side gigs that require an upfront payment, whether it be for equipment, training materials, or orientation.

Payment as a requirement for entry is a sign of trouble.

Paid Online Surveys

The premise behind this side hustle scam is that companies are desperate for market research and will pay people to complete surveys. 

You’ve probably seen the ads: Did you know you can make money by taking surveys?

However, like with other online scams, there’s no job here.

Most companies that offer these “paid surveys" require an upfront membership fee before you can answer any surveys.

Often, you get nothing in return.

But not all paid survey sites are complete dead ends.

Some do offer payouts. However, these few legitimate companies pay so poorly that it would take days to make as little as a dollar.

Worse still, these sites also demand private details like credit card and bank account information, putting people at risk of identity theft. 

Cryptocurrency Scams

In recent years, cryptocurrencies and all things Web3 have taken the internet by storm.

And it's easy to see why—as a side hustle, cryptocurrencies promise a lucrative passive income that could build you a fortune with none of the traditional hassles of making money.

But beware, the world of cryptocurrencies and web3 is a minefield.

You desperately need to build an understanding for any hope of making money, let alone striking it rich.

Otherwise, like countless other crypto investors, you could fall victim to the Ponzi schemes and fraudulent ICOs (Initial Coin Offerings) like OneCoin that have become a hallmark of the crypto world. 

How to Avoid a Side Hustle Scam

Here are some steps to ensure you make money from your side gig and avoid falling victim to any side hustle scam.

Research gigs before applying

No matter how good an opportunity sounds, proper research is essential.

A quick online search is a great place to start. Look out for a professional website and legitimate contact information.

If you notice people reporting a job as a scam, that’s a sign not to engage.

Avoid too-good-to-be-true jobs

As a rule, If it sounds too good, then it probably is. Avoid side gigs that promise exorbitant pay rates for jobs that require little to no special skills.

Beware the work-from-home scams

The COVID-19 pandemic initiated a mass migration from the traditional full-time job to work-from-home jobs.

However, according to a BBB Report, this migration also saw an increase in work-from-home scams.

Get the terms of work in writing

Get a basic contract that details the terms of employment and the services to provide.

This is a great way to weed out scammers and is generally a sound business practice.

Are Side Hustles Legit: Frequently Asked Questions

What are the best legit side gigs?

From writing online to handyman work, there are countless lucrative hustle ideas that’ll earn you good money.

And you don’t require a bachelor’s degree, just skills and services you can sell. For example, you could be a virtual assistant or an online tutor.

Can a side hustle make you a millionaire?

Not as long as the gig remains a part-time job.

Crossing the million-dollar mark through a side gig takes significant patience, discipline, and consistency—more than most people give a gig they do in addition to their day job to earn extra cash.

How can a beginner make money online?

There are countless ways to make money online. All you need is a skill or mastery of a particular subject that you can leverage for income.

Check out Gigworker for all the help and resources you need to land a legit side hustle.

Is social media a good side hustle?

Yes. The average internet user spends about 151 minutes on social media daily. Demand for content is at an all-time high.

You can tap into this market as a content creator, influencer, or social media manager and make it your side hustle.

Final Thoughts

Are side hustles legit? Well, based on what we’ve covered today, it's safe to say yes. They are a proven source of income for many people. 

However, this is only possible with the right side job. As we’ve seen, you must take measures to protect yourself from fraudsters looking to take advantage of job seekers. 

What are your thoughts on side hustles, and are you thinking about finding one? Let us know in the comments!