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Working World
Are you considering a portfolio career? At one point or another, most students have participated in the gig economy – undertaking multiple paid activities to earn additional income whilst studying. By Safia Lagerdien
WHY? Because of the multiple income streams, portfolio careers may prove to be more resilient and financially secure than taking one traditional career path.
Why have one source of income, when you can have multiple? After all, we don’t have to be bound to one job, with one single employer, around a single interest or skill for our entire working lives. Equally, because of uncertainty in the job market, a portfolio career has become a necessity for many graduates in order just to make ends meet. This type of career typically consists of the combination of mixed employment types. It can take many forms, but a typical combination might be an anchor job that forms the basis of some financial security, with additional parttime/freelancing/consulting gigs to supplement income. It might be that you work three days a week for a company and spend the other two days giving motivational talks. Or, you might build and sell wood furniture on Facebook Marketplace in addition to your daytime job.
Why might you consider this? Because of the multiple income streams, portfolio careers may prove to be more resilient and financially secure than taking one traditional career path. As you’re able to explore several interests and utilise a variety of strengths, so too does your repertoire of work evolve. A portfolio career could offer ownership, autonomy and control over your selection of clients, types of projects, and when to work – allowing you to focus on doing what you love and enjoy. If you are still deciding on your career path, a portfolio career can help you to test drive various options.
Do keep in mind, however… It may become increasingly difficult to balance, manage and control competing projects, priorities and time. You may find yourself losing the very flexibility you valued when you started out. Staying organised to keep up to date with all your projects, dealing with uncertainty around income and project types coupled with the administrative demands (invoicing, budgeting, tax and governance compliance) can be very stressful and anxiety inducing.
YO U R CA R E E R G U I D E 2022 | 53
