Gig Jobs vs. Part-Time Jobs: Which Is Right for You and what is the difference?

Looking to earn extra pocket money over the weekends or during the holiday period? Are a stay-home-mum looking to earn a flexible side income with no commitment? Then let us introduce to you gig jobs!

In recent years, the landscape of employment in Singapore has undergone a huge change, with the rise of gig jobs becoming increasingly common. This shift in the labour market has sparked a growing interest among job seekers. However, there remains a notable degree of confusion surrounding the distinction between gig jobs and part-time positions. We will explore the surge in popularity of gig jobs in Singapore, offering insights into the key differences between gig and part-time employment, and provide some data to highlight the rise in gig economy, along with the reasons why you, as a prospective job seeker, should contemplate exploring the world of gig work.

The benefits of gig jobs
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1) The Power of Flexibility

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One of the primary attractions of gig jobs is the unparalleled flexibility they offer. For many individuals, this flexibility is a game-changer. Gig jobs allow the freedom to choose when, where, and what job you would like to work in. This is highly advantageous for many individuals with busy schedules or personal commitments but would like to earn additional income for themselves or their families. To elaborate further, this flexibility enables them to:

1. Choose To Work When You’re Able To:
   Gig jobs do not come with a contract. This means that you’re not obliged to commit to the same company, job, or schedule. A gig worker is empowered to choose any kind of job that fits your schedule without the repercussions of traditional arrangements like part-time or full-time.
    
2. Establish A Better Work-Life Balance:
   ‍Many gig workers appreciate the ability to accommodate personal commitments without compromising their income. For parents, caregivers, or those pursuing further education, this can be a deciding factor for you. Many gigs are suitable jobs for various groups of people which includes jobs for students who are on their school holidays or looking for side income to ease the financial needs of the family after school; jobs for stay-home-mums where they are able to fit in certain gigs when their children are in school; jobs for elderly who are able to do certain physically light work. The flexible schedule of gigs provide options for many groups of people. 
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3. ‍Pursue Multiple Income Streams:
   Gig workers often engage in multiple gigs concurrently as we are not bound by contracts. This diversification of income sources provides financial stability and the potential for higher earnings. Furthermore, Gig jobs allow you to even choose weekly pay jobs or daily paid jobs to suit the cashflow required for your lifestyle.
   
   Example:
   Fatimah is a stay-home-mum who is only able to work from 9am to 2pm after sending her children to school. She proceeds to book a shift as a Service Crew at a nearby restaurant as she already has a valid Food Safety Certificate. She completes her shift and is paid the next following Friday.
   
   3 weeks later, she was invited to a last minute overseas trip during the weekdays and is only available to work on the weekends, so she proceeds to book a shift as a Warehouse Packer instead as the Service Crew shifts clash with her schedule.
   
   Fatimah has full control over her work schedule and she’s able to shift her work within 24 hours without any stress!
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2) Variety and Growth in the Gig Economy

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The gig economy thrives on diversity. Gig workers frequently undertake a variety of tasks or projects for different clients or platforms. This diversity can be invigorating, offering opportunities to acquire new skills and experiences across various industries.

Gig workers experience:

1. Constant Learning:
   With the luxury of choice when it comes to gig work, it gives you the ability to learn from a variety of different job roles and industries. These experiences can be invaluable and highly applicable in many circumstances. Trying out multiple different roles also improves your adaptability to different expectations and environments. 
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2. Skill Expansion:
   The gig economy encourages skill development in multiple areas. Gig workers often find themselves acquiring or improving soft skills. Some of these include improving communication skills, critical thinking, problem solving, setting customer service standards, and many more. In some scenarios, you are also required to learn how to navigate and utilise certain systems. This includes POS systems that are common in F&B establishments and inventory management systems in warehouse or logistics jobs. Training is also included for these gigs so why not get paid to learn too!
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3. Networking Opportunities:
   Given how diverse the gig community and jobs are, it often leads to networking opportunities with clients, collaborators, or fellow gig workers. These connections can open doors to new projects or collaborations. Many of our gig workers find friendship in like-minded individuals, building a close knit community that also works together.
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3) Independence and Entrepreneurship

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Gig workers are typically classified as self-employed or freelancers. This classification provides them with a unique sense of independence and an entrepreneurial spirit. They have more control over their work, allowing them to make decisions that align with their professional goals and values.

In the gig economy, independence means:

1. Choose your job and industry:
   Freelancers can choose the brands and jobs they would like to work in, aligning their work with their interests and values.
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2. Work-life balance:
   Plan your schedule to balance what matters to you. Looking to earn more this month? Book more shifts! Planning to take a break to spend more time with friends and family? Book lesser shifts! As easy as that, no stress.
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Income Potential in the Gig Economy
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One of the most significant attractions of gig work is the income potential it offers. Additionally, gig workers often have the flexibility to take on multiple gigs simultaneously, further increasing their income potential. An estimated market rate for gigs in various industries are as follows:

F&B: $12-$14 / hr

Warehouse: $12-$16 / hr

Retail: $8-$18 / hr

Events: $13-$18 / hr
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The benefits of part-time jobs
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1. Stability and a more predictable income:
‍While gig jobs offer flexibility and independence, part-time jobs provide a different set of advantages. Part-time employment offers stability, a structured work environment, and consistency in terms of your work schedule. Workers typically have set schedules, allowing them to plan their lives around their work hours. This stability is especially valuable for individuals who rely on a consistent income to cover monthly expenses and financial obligations. 

2. Structured Work Environment:
‍Part-time jobs often involve working for a single employer within a structured work environment. This structure can provide a sense of belonging, as part-time employees become part of a team.

3. Employment Benefits:
Part-time employees usually receive their salaries on a monthly basis. The difference in the income received from month to month is not as unpredictable. Additionally, part-time workers may be eligible for certain benefits, such as health insurance, paid time off, and sick leave. This of course depends on their employer's policies.

4. Career Advancement and Long-Term Commitment:
Part-time jobs often serve as stepping stones to full-time roles within the same organisation. This presents opportunities for career advancement and professional growth. Part-time employees who excel in their roles may be considered for promotions or offered full-time positions, complete with increased responsibilities and benefits.

In a part-time job, you can:

1. Build a Career: If you are looking to build a long-term career in a specific industry, starting part-time can be an excellent way to gain experience, prove your capabilities, and eventually secure a full-time role.
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2. Developing a specialised skill set: Part-time employees often have access to training and development opportunities provided by their employers. These programs can help you expand your skill set and improve your qualifications that are specific to an industry.
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3. Networking: Similarly to gig workers, working within a structured organisation allows you to build a network of professional contacts, which can be valuable for future career opportunities. Establishing a mentorship system in the workplace can also be beneficial when it comes to building a career in an industry.
   
   
   

Choosing Between Gig Jobs and Part-Time Jobs: Factors to Consider
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Now that we've delved into the characteristics and advantages of both gig jobs and part-time jobs, let's explore key factors to consider when making your decision:

1. Financial Needs:
   Consider your financial situation and monthly obligations. Part-time is usually paid on a monthly basis whereas gig workers have a shorter payout time which can be weekly or daily. If you need a stable income to cover bills and expenses, part-time employment may be a better fit. However, if you’re looking to earn a stable side income and would prefer flexibility, gig work would be the choice. With that being said, the ability to take up multiple gig jobs a week can potentially earn you a similar or higher income as compared to a part-time job. This is because you are not bound to a specific role, which would allow you to move around taking higher paying jobs if available. 
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2. Lifestyle and Schedule:
   Assess your lifestyle, personal commitments, and preferred work schedule. Gig jobs offer more flexibility, making them suitable for individuals with irregular schedules or responsibilities.
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3. Career Goals:
   Think about your long-term career goals. If you have an aspiration to build a career within a specific industry and value opportunities for advancement, part-time jobs can provide a structured path to achieving those goals. However, for those who are trying to gain exposure to a sector without much experience, gig jobs might break open the barrier for you to network with people in the sector to learn more about the jobs within. It would allow you to explore different industries to find one that you would eventually be interested in.
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4. Consistency:
   Gig work does not bind you down with a minimum commitment period nor a contract. Most gig employers are more inclined to choose a returning gigger compared to a new one. FastGig actually balances this well, where we ensure that the good performing giggers have returning offers, while ensuring a healthy flow of work opening for new gigger to dive into the market. Whereas, a part-time arrangement has a fixed schedule. Making changes to this schedule would be highly disruptive for the business and it usually requires planning in advance to avoid any implications to the day to day operations.
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5. Employment benefits:
   ‍Part time employees have to contribute CPF after exceeding a certain amount earned in a month. Gig workers on the other hand, do not contribute to CPF. This would be perfect for full-time employees who are looking to earn a side-income during the weekends or after work. Some companies also offer part-time employees a set amount of paid leave which is not applicable to gig workers.
   
   
   

Conclusion: Part-time Jobs or Gig Jobs
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The choice between gig jobs and part-time jobs ultimately depends on your unique circumstances, priorities, and objectives. Some individuals find that a combination of both gig work and part-time employment allows them to strike a balance between flexibility and stability. Others may lean toward one option based on their specific needs.

As you make your decision, keep in mind that your choice should align with your individual goals. In a constantly evolving job market, the most important aspect is to be adaptable and open to reassessing your choice as your circumstances change and your goals evolve. Gig work might be a new thing in Singapore, but the pace at which it is growing proves that Singapore’s working environment and needs have shifted from the past.Gig jobs’ flexibility and benefits allow the new generation of workforce to optimise work-life balance without impacting their financial commitments. Keen to take your first step into the gig economy? Download the FastGig app here and explore the gig jobs available!