While millennials are seldom perceived or seen as financially responsible, the truth is that they’re, on average, working less and earning more than their predecessors. This is mostly due to the current state of the internet that has opened up some amazing opportunities for the people of this fortunate generation. Keep in mind, nonetheless, that the internet is merely a tool and it’s the way in which they use it that allows millennials to make this into something so lucrative. With that in mind, and without further ado, here are seven ways in which millennials are working smarter, not harder, which ultimately allows them to work less and earn more.
Online jobs have an amazing offer
The first thing you need to keep in mind is the fact that this increase in income is often compared to the previous generation that’s demographically similar to millennials. For instance, it would be unfair to compare a millennial from Australia or the U.S. to a baby boomer from Eastern Europe or a Central Asian country. This leads us to the first reason why some millennials nowadays are earning more. Even in countries that are not considered to be First-world, it’s possible for a millennial to find an online job on which they’ll get paid according to standards of a country with a much better purchasing power parity. It really is that simple.
Another thing you need to keep in mind is the fact that as a freelancer, you can virtually run a one-person enterprise. This means that you have a chance to establish a direct connection to your clients and avoid having to pay an agency a fee or give someone else a piece of your profit. Also, this gives you greater independence, better room for advancement, as well as a chance to hire additional people once the workload increases so much that you can no longer keep up with it. This means that your entrepreneurial goals are much easier to follow, which gives you a chance to do the same amount of work and earn more.
Better odds for artists
In the past, being an artist was a much greater risk than it was today. Why? Well, mostly because you no longer have to go through publishing agencies in order to earn money off your art. On a platform like Kindle Direct Publishing, you can self-publish a novel. There are a plethora of apps that you can use to sell your photographs, even some that specialize in photos taken by a smartphone. This means that you no longer have to spend thousands on a high-end camera in order to consider yourself a professional photographer. There are also so many platforms where you can upload your songs in order to sell them.
Another factor that needs to be taken into consideration is the fact that millennials find it easier to move to countries with better job markets. Why? Well, first of all, millennials are often subject to the phenomenon of digital nomadism which means that they’re not as tied to a specific place. The rate of homeownership is lower in millennial population, they are getting married older (or not at all), which means that they’re a lot less likely to settle down in one place. Moreover, it’s a lot easier to settle these legal issues online than it is to do so in person. For instance, if you want to migrate to NSW, Australia, you can find the best migration agents in Sydney and have everything arranged prior to actually making a move.
Amazing education opportunities
The next reason why millennials are earning more is due to the fact that jobs that pay well usually require a specific skill on knowledge. While on this topic, it’s vital that we mention the fact that self-improvement has never been easier. There are so many amazing online courses, guides, seminars and webinars that one can use to self-improve and these options simply weren’t available in the past. All of this allows for one to self-improve while doing a full-time job (due to the flexibility of schedule), which creates a lot more opportunity. Moreover, quality learning materials are much easier to come by and the online community can be incredibly helpful at times.
Another amazing opportunity can be found in the field of e-commerce. For those who are interested in entering retail with a drop-shipping model, it’s possible for one to start with as much as $2,000 to $5,000 of initial capital. Some opportunities like FBA (Fulfillment by Amazon) program gives one a simple, expedient and effective method of becoming a part of the world of e-commerce. The best thing about this field is the fact that there’s no bottom limit to how small you can start out in order to build your fortune.
Digital marketing is an incredibly lucrative field
The very last thing you need to keep in mind is the fact that digital marketing tends to be an incredibly lucrative field full of opportunities. Naturally, these occupations have a pay grade to match, yet, were completely non-existent in the past. This is yet another major socio-economic issue that comes into play here. You see, the career options of becoming a doctor, an architect or an engineer have always paid well. However, the majority of jobs in the IT sector and digital marketing didn’t exist in the past. Content creators, life coaches, etc. all of these are new occupations with far-above-average paygrades.
Lastly, keep in mind that all of the above-listed concepts require one to take some initiative and find an angle that will allow them to drastically increase their profits. There’s no guide, no pattern that one has to follow in order to improve their fortune. On the other hand, there is so much information and so many resources that can be used at one’s behest. As we already stated, the internet is but a tool and it’s how one uses it that makes all the difference. With the above-listed seven methods, it’s possible for anyone to make a difference in a present-day business world.