Should you get a second job in Singapore?
The answer from us is a resounding YES!
Why? The reality of today is that we are nowhere near being out of the woods of the current economic recession and slow job market caused by the Covid-19 pandemic (that is still, by the way, raging on since a year ago).
Many of us are impacted by it, especially financially as businesses suffer along with the uncertainties and income loss becomes inevitable, either through job loss or pay cuts. The benefits of working a second job are therefore great – the extra income can go into paying off debts or even releasing stress at times like this.
Here are five good reasons why you should get a second job in Singapore.
1. Financial security
Singapore is notably one of the top five most expensive cities in the world to live in. Finding a job that pays well, especially in this current economic climate, is not going to be a walk in the park.
If you have difficulty paying your bills with your current job, or you need more disposable income to supplement your lifestyle, taking on a second job may ease your financial burden.
Other than supplementing your primary source of income, the extra income from a second job also enables you to reach your financial goals faster, whether it is to pay down a housing loan, a credit card debt or simply to retire early.
2. Enhances job security
We are living in a VUCA world today where high levels of instability and change are a constant. It is ever more important now than before to figure out how to navigate through the confusion and insecurity, and flip that into an opportunity.
Rather than worrying about income loss, focus on diversifying your income to defray the risk of losing your primary job. A second job will mitigate that risk and provide a safety net, especially if retrenchments are happening or the future of the company you are working in looks bleak.
3. Bridge to a new industry
Have you ever thought about starting up your own business or perhaps moving into a completely new industry?
This is where a second job or a part-time gig will give you that opportunity to expose yourself to and explore that new industry. It minimises the risk of taking that leap to doing it full-time.
Take Suffian Samat aka Ian Sam, one half of syne.sg, for example; while he was working full-time as a visual merchandiser for an international footwear brand in Singapore, he started designing and sewing kimonos out of recycled material and selling them on the side during his free time.
He enjoyed fashion designing and was exploring the idea of creating his own label. After about half a year, the kimono side business grew to a level that gave him confidence to go into it full-time.
4. Strengthen your resume
You want to add experience to a job in an industry you want to work in? Working a second job does just that! Nothing speaks more about your credibility than the myriad of experiences that you may chalk up from the various types of jobs that you have done.
This is particularly helpful to fresh graduates who want to beef up their resume to raise their hiring prospect.
Let’s say you are keen to pursue a role in the e-Commerce industry. Taking a part-time role in retail or logistics can help to reinforce your understanding and inter-dependency of the various sectors related to e-Commerce. You learn new skills that perhaps your current job does not teach you, and this could give you an advantage over others into getting a better job down the road.
You must be wondering how a second job can help you de-stress? If anything, it’d be extra stressful given the extra time and effort that have to be allocated to it. We beg to differ here.
The truth is, we know there is no perfect job in the world, and even if we were content with our present full-time jobs, there would have been times we felt bogged down and stressed by them.
No doubt, there are many ways in which we can blow off some of that steam from our day jobs, but what if you could earn extra income while doing it?
In comes the “hobby job” – a second job or a part-time gig that you can consider as a hobby, but one that pays. For example, you are pretty nifty with the camera and enjoy photography; it’s what you do to relax. Consider turning that hobby into a side gig – be a part-time photographer, or sell your images as stock photos.
While we advocate that you should have a second job for the various reasons shared, it is also important for you to consider factors such as time, effort, and perks to ensure that it fits in with your lifestyle.
At Bridge.com.sg, we can help advise and support your quest in finding that second job.