Gen Z Freelancer Has Seven Income Streams But Still Wants A Full-Time Job | Money Mind | Indonesia

Key Concepts

• Gig Economy/Freelancing: Working multiple jobs or projects on a short-term or contract basis.
• Financial Stability: Having a consistent and reliable income to meet expenses and plan for the future.
• Emergency Fund: Savings set aside to cover unexpected expenses or periods of low income.
• Full-time Employment: A permanent job with a single employer, typically offering a steady salary and benefits.
• Age Limit for Employment: Some job applications have age restrictions, which can be a barrier for older applicants.
• Ghosting (in job applications): When an employer stops communicating with a candidate after an interview or at a later stage of the hiring process.
• Income Volatility: Fluctuations in earnings, common in freelance or gig work.
• Budgeting: Planning how to spend money, especially challenging with unpredictable income.
• Side Hustles: Additional jobs or income-generating activities undertaken alongside a primary job.

Summary

This video transcript details the financial struggles and career aspirations of Rika, a 26-year-old woman in Indonesia who juggles seven different jobs out of necessity, not choice. She graduated with a degree in International Relations four years ago and has been actively seeking a full-time position since then, but has faced numerous rejections and "ghosting" from potential employers.

Challenges in Securing Full-Time Employment

Rika's primary goal is to secure a full-time job, which she believes will provide much-needed financial stability. Her attempts to find employment have been hampered by several factors:

• Lack of Responses: Despite applying for positions, she received no replies for her initial applications.
• "Ghosting" by Employers: She has reached interview stages, even with users, only to be cut off without formal explanation.
• Age Limits: Rika suspects that her age might be a factor, as some job applications have age limits, often around 25 years old. This has led to her being disqualified even after passing interviews.
• Experience Requirements for Fresh Graduates: A common barrier is the requirement for 2 years of experience for entry-level positions, which is difficult for fresh graduates to meet.

Building a Freelance Career

While searching for a full-time job, Rika has built a diverse freelance career to supplement her income. Her freelance journey began during her final year of university:

• First Freelance Gig: She started with makeup artistry for a friend's graduation ceremony, earning Rp150,000.
• Crew Assistant Role: She also worked as a crew assistant, earning Rp500,000 per day, with projects sometimes lasting 2-3 days, providing a significant income.
• Multiple Income Streams: Rika realized the potential of multiplying freelance gigs to increase her monthly income.

Current Income Sources and Financial Management

Rika's income is derived from a combination of freelance work and a steady administrative job:

• Administrative Work: Her most profitable and consistent income comes from administrative work at a private plantation company. This role earns her up to Rp2,000,000 for 1-2 days of work. She values this job for its flexibility and lack of transport costs.
• Other Side Hustles: Four other side hustles contribute to her income.
• Income Volatility: When she has multiple projects, her monthly earnings can reach up to Rp8,000,000, which is around the average base pay for a graduate in Indonesia. However, during slow months, her income can drop significantly, by as much as tenfold.
• Budgeting Challenges: This income volatility makes financial planning difficult. Rika states, "pengeluaran aku tuh mengikuti dengan penghasilan yang aku dapat" (my expenses follow the income I receive), meaning her spending adapts to her earnings rather than being fixed.

Importance of Emergency Funds and Stability

The unpredictable nature of freelance income highlights the critical need for an emergency fund:

• Freelancer Emergency Fund Recommendation: While salaried workers are advised to have 3-6 months of essential expenses in their emergency fund, freelancers like Rika are recommended to have a larger safety net of 6-12 months.
• Building the Fund: Rika builds her emergency fund by calculating essential monthly expenses and setting aside a fixed proportion of her income. She aims to top it up during months with higher earnings.
• Desire for Full-Time Stability: Despite the benefits of multiple income streams, the lack of stability is the primary reason Rika continues to seek a full-time job. She expresses, "Dengan full time job sendiri, penghasilan itu tetap sehingga aku bakal ngerasa lebih safe dengan pengalaman-pengalaman jadi freelancer selama beberapa tahun ini" (With a full-time job, the income is fixed, so I will feel safer with the experience I've gained as a freelancer over these past few years). She admits to worrying significantly about fluctuating income.

Preferences for Employment

Surveys indicate that young people, including those in Indonesia, prefer a full-time job combined with side hustles. Rika shares this sentiment:

• Preference for Full-Time with Side Hustles: She agrees that she wouldn't completely abandon her freelance work even with a full-time job, stating, "Mungkin gak fully ditinggalin ya, kayak pekerjaan yang bisa aku kerjain di malam hari saat aku udah kerja full time selesai, aku bakal tetap kerjain" (Maybe I won't leave it fully, like work that I can do at night after my full-time job is finished, I will still do it).

Continued Pursuit of a Full-Time Career

At 26, Rika fears her dream of a full-time job might be out of reach. She emphasizes that freelancing was not her first choice:

• Freelancing as a Necessity: "Aku sendiri jadi freelance itu bukan first choice aku. Di mana first choice aku itu untuk dapat pekerjaan tetap, tapi dengan keadaan yang kayak gini yang memungkinkan aku tuh harus cari kesempatan lain, harus cari-cari sendiri. Jadi aku pilih buat jadi freelance." (I myself becoming a freelancer is not my first choice. My first choice was to get a permanent job, but with the current situation, it forces me to look for other opportunities, to find them myself. So I chose to become a freelancer.)
• Leveraging Freelance Experience: She continues to apply for jobs, particularly in communications and events, aiming to utilize the experience gained from her freelance work.
• Hope for the Future: Rika is saving what she can, hoping that financial stability and peace of mind will eventually come from a job she can rely on.

Conclusion

Rika's story exemplifies the challenges faced by many young individuals in Indonesia navigating the gig economy. While freelancing offers flexibility and multiple income streams, the inherent income volatility creates significant financial stress and hinders long-term planning. The strong desire for the stability and security of a full-time job persists, even as age and experience requirements present formidable barriers. Rika's continued efforts to secure stable employment, while leveraging her freelance skills, highlight the resilience and adaptability required in today's job market.