More than half of Indian Gen Zs and millennials have a side job: Deloitte study

A large proportion of Indian Gen Zs and millennials have a paying job in addition to their primary job, such as social media influencer, working for a non-profit, and selling products or services online being the top side jobs held, according to a Deloitte study released on Thursday.

The numbers stood at 62% among Indian Gen Zs and 51% among Indian millennials, much higher than the global averages of 43% and 32%, respectively, according to the Deloitte Global 2022 Gen Z and Millennial Survey.

35% of Gen Zs and 34% of millennials have a side job as a social media influencer, while 26% of Gen Zs and 31% of millennials work for a not-for-profit organization. Selling products or services through online platforms has been taken up by 25% of Gen Zs and 27% of millennials, while 24% of Gen Zs and 25% of millennials are pursuing artistic ambitions. 23% of Gen Zs and 30% of millennials write/host a blog, podcast, or newsletter.

The study, which included responses from 801 respondents in India – 500 Gen Zs and 301 millennials, defines Gen Z respondents as those born between January 1995 and December 2003, and millennial respondents as those born between January 1983 and December 1994.

The study also found that financial concerns seem less present in India compared to the global average, with over two thirds of Gen Zs and around 8 in 10 millennials feeling confident that they’ll be able to retire comfortably and pay all their monthly expenses.

60% of the Indian Gen Zs said they feel financially secure, much higher than the global average of 40%. Similarly, 74% of Indian millennials agreed to the statement compared to 74% globally.

71% Indian Gen Zs and 78% of the Indian millennials are confident of retiring with financial comfort, way above the global averages of 41% on both counts.

 The 2022 Gen Z and Millennial Survey solicited the views of 14,808 Gen Zs and 8,412 millennials (23,220 respondents in total), from 46 countries across North America, Latin America, Western Europe, Eastern Europe, the Middle East, Africa and Asia Pacific. Fieldwork was completed between 24 November 2021 and 4 January 2022.

Also Read: EXCLUSIVE: SC ruling on GST Council a big boost for federalism, says KN Balagopal, Kerala’s finance minister

Also Read: Wall St: S&P 500, Dow slip as Cisco drags, Nasdaq steady after selloff