Yahoo Finance 22 Lucrative Side Hustles for Teachers To Make Extra Money
In this article, we will look at the 22 lucrative side hustles for teachers to make extra money. We have also discussed the state of teachers in the US. If you want to skip our detailed analysis, head straight to the 5 Lucrative Side Hustles for Teachers To Make Extra Money.
Since 2021, teacher job openings have increased, yet the supply of teachers has remained stagnant, exacerbating a long-standing staffing imbalance. The average annual salary for K-12 teachers in the US is $68,000. Despite higher levels of education, teachers face diminishing pay differentials, discouraging recruitment and retention. Particularly affected are STEM and language educators, dissuaded by more lucrative opportunities elsewhere. This trend is evident among teachers aged 20 to 30, further exacerbating shortages as older educators retire.
Owing to the lower salaries, many teachers in the US have been opting for side jobs to manage their expenses. For example, in Austin, Texas, the struggle for teachers is real: Angelica Arredondo Holley and Dell Mann, both Austin ISD educators, juggle multiple jobs to bridge the pay gap. Arredondo Holley, a mother of four, started her own party planning business to make ends meet, while Mann holds down an astonishing seven jobs, including rideshare driving and real estate. Texas teachers face stark realities: Mann's pay is $30,000 less than if she were in Indiana, highlighting the substantial regional disparities. With starting teacher salaries averaging just over $40,000 nationally and adjusted for inflation, educators now earn nearly $4,000 less than a decade ago. Despite challenges, these teachers remain committed to their students, making teaching one of the most respected professions in America. Becky Powell, a kindergarten teacher, generates a six-figure income annually through her side hustle of creating digital worksheets for fellow educators. Devoting around 10 hours per week to her venture, she amassed $125,500 in earnings last year on Teachers Pay Teachers. Starting in 2015, she swiftly covered her car insurance within weeks and managed to pay off monthly student loan bills within three months. Her store, Sight Word Activities, boasts 427 different listings, catering to the specific needs of young learners in literacy education. Powell emphasizes that one can kickstart this venture without any initial investment, leveraging the free and paid tiers offered by the platform. Opting for the premium tier, Powell and her husband, Jerome, share their insights and earnings, both exceeding six figures. Powell attributes her success to niche specialization, finding her unique selling point within a specialized market, and leveraging her teaching experience to create valuable resources for educators.
It is also interesting to note that given the increasing automation of industries, the educational sector has also been integrated with the latest artificial intelligence technologies that have direct implications for teachers.
For example, Chegg Inc (NYSE:CHGG) is set to revolutionize student studying with the introduction of CheggMate, powered by ChatGPT's AI technology. This innovative tool, integrating Chegg Inc (NYSE:CHGG)’s quiz data with GPT-4, promises personalized study assistance to students, adapting to their learning needs and providing tailored practice tests. Despite concerns over AI's impact on education, Chegg Inc (NYSE:CHGG) aims to mitigate issues seen with ChatGPT's essay drafting, focusing on math and sciences.
Chegg Inc (NYSE:CHGG)’s collaboration with OpenAI signifies a bold step towards capitalizing on AI for enhancing learning experiences. By combining technology with educational content, Chegg Inc (NYSE:CHGG) not only addresses individual student needs but also underscores the company's commitment to innovation in education.
Copyright: wavebreakmediamicro / 123RF Stock Photo
Our Methodology
To list the most lucrative side hustles for teachers to make extra money, we identified side jobs/hustles that paid atleast $2000 per month as a side income. We also ensured that all the side hustles either aligned with the nature of the jobs of teachers or was able to be pursued with convenience given their work schedules and commitments. We did not rank the list as per any median or average earning potential because the earning is largely dependant on the number of hours put, type of platform used and also on the amount of experience one has had in the respective niche.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
22. Tutoring
Tutoring is one of the lucrative side hustle for teachers to make extra money online and otherwise owing to their expertise in different subjects, instructional methodologies, and ability to communicate complex concepts effectively. Platforms like Tutor.com, Wyzant, and VIPKid provide avenues for teachers to connect with students globally.
21. Pet Sitting
Pet sitting is an ideal side hustle for teachers due to its flexibility and compatibility with their schedules. During school breaks and holidays, teachers have ample free time to care for pets, offering services such as walking, feeding, and companionship. This gig allows them to earn extra income without conflicting with their primary job responsibilities. It can also be an excellent side jobs for teachers in summer.
20. Curriculum development
Curriculum development is one of the best side hustled for teachers due to their deep understanding of educational needs and effective teaching methods. Their expertise allows them to create tailored, high-quality curriculum materials sought after by schools, homeschoolers, and educational publishers.
19. Test scoring
Test scoring is an ideal side hustle for teachers due to its alignment with their expertise and schedule. Teachers possess a deep understanding of educational standards, enabling them to accurately assess student responses. Additionally, the similarity between their teaching experience and scoring criteria streamlines the process, making it efficient.
18. Editing and proofreading
Editing and proofreading are two of the most popular side jobs for teachers online. Teachers can capitalize on their keen eye for detail and language skills to offer editing and proofreading services. Platforms like Upwork Inc (NASDAQ:UPWK) and Fiverr International Ltd (NYSE:FVRR) connect freelancers with clients seeking such services.
17. Blogging
Teachers can share their expertise and insights through blogging on platforms like WordPress, Blogger, or Medium. By creating valuable content related to education, teaching strategies, or subject-specific tips, teachers can attract an audience and monetize their blog through advertising, affiliate marketing, or selling digital products like e-books or online courses.
16. Freelance Writing
Platforms like Contently, ProBlogger, and Freelance Writing Jobs list writing across different niches. Additionally, teachers can pitch articles directly to educational magazines, blogs, or online publications relevant to their expertise, establishing themselves as authoritative voices in their field while earning extra income.
15. Transcription
As a transcriptionist, you convert audio into written text, working remotely from home or anywhere with internet access. With an average base salary of $46,595, it is an accessible opportunity, that requires good language skills and attention to detail but no advanced qualifications. Therefore, it is also one of the best work-from-home jobs for 2023.
14. Virtual Assistant
Virtual assistant is one of the best second jobs for teachers. Individuals can leverage their organizational, communication, and technical skills to provide various services remotely, such as administrative tasks, customer support, or social media management. Two prominent companies in the US that hire virtual assistants are Time Etc and Belay Solutions.
13. Consulting
Teachers can capitalize on their extensive experience and expertise to enter the consulting field through platforms like Upwork, Inc (NASDAQ:UPWK). Firstly, they should identify their niche based on their skills and professional background. Next, they can create a compelling profile highlighting their qualifications and accomplishments. Utilizing Upwork, Inc (NASDAQ:UPWK)’s network, they can connect with clients seeking their specific expertise, whether it's in areas like business management, marketing, or coaching.
12. Bookkeeping
Teachers possess strong organizational skills, attention to detail, and proficiency in math, making them well-suited for bookkeeping tasks. The average salary for a Bookkeeper is $21.90 per hour in the United States.
11. Graphic Design
It is one of the high-paying side hustles to start for extra income in 2024 online. The median salary of a graphic designer in the US is $50,710, according to BLS. It is also one the highest-paying part-time jobs for college students.
10. Social Media Management
The US Bureau of Labor Statistics (BLS) forecasts a positive job outlook for advertising and promotions managers, which includes roles such as social media managers. In 2022, these professionals had a median salary of $127,830. The BLS anticipates a faster-than-average growth rate of 7% from 2021 to 2031.
9. Voiceover Work
Many individuals enjoy the opportunity to lend their voices to various projects, including commercials, audiobooks, animations, and video games. With the rise of remote work and online platforms, aspiring voice-over artists can easily market their skills and collaborate with clients worldwide. Two companies in the US that hire virtual assistants are Time Etc and Fancy Hands.
8. Photography
This side hustle sits perfectly with the teachers’ timetables as the flexible schedule alignment with school breaks and weekends, allows for supplemental income without conflicting with their primary job. Teachers possess a keen eye for detail and creativity, making them adept at capturing memorable moments.
Photographers earn a median pay of $40,170 annually. In 2022, there were 148,900 photography jobs, with a projected 4% growth from 2022 to 2032, adding 6,100 jobs.
7. Event Planning
Event planning allows individuals to leverage their organizational skills and creativity to coordinate various events such as weddings, parties, and corporate functions. Event planners are hired through word-of-mouth referrals, social media platforms, and event planning websites. Additionally, they often collaborate with venues, vendors, and clients to bring their vision to life.
6. Handmade Crafts
In an era where authenticity and artisanal products are valued, handmade crafts carry a premium appeal. It offers opportunities for creative expression while generating additional revenue streams beyond traditional employment. This side hustle can be managed alongside other commitments, providing financial stability and fulfilment through the joy of crafting.
Click here to see the 5 Lucrative Side Hustles for Teachers To Make Extra Money.
Suggested Articles:
Disclosure: None. 22 Lucrative Side Hustles for Teachers To Make Extra Money is originally published on Insider Monkey.
