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How Millennials Are Earning $200,000 With Two Remote Jobs At The Same Time

How Millennials Are Earning $200,000 With Two Remote Jobs At The Same Time
  • A full-time account manager at a software company has started a second job as a sales representative.
  • He still works 40 hours a week, but expects to generate an additional $40,000 in income this year.
  • The money goes into his credit card debt, his wife’s college tuition, and his retirement savings.

Fayette Woods, 26, says he needs two jobs to meet his financial goals, which include paying his wife’s college tuition, saving for retirement at age 60, and keeping up with his bills over time. High inflation for four decades.

But Woods works his two jobs during the same hours, and neither employer knows anything about the other.

“In this economy, you can’t live on one income,” Woods said. He asked not to reveal his real name and employers for privacy reasons, but his identity is known to Insider.

Woods, who is a full-time account manager at a software company, also sells furniture to a retailer. He said working remotely in both jobs allows him to avoid getting caught – and that’s only become possible during the pandemic.

Working about 40 hours a week — with a pay cut of 60 — Woods expects to see a $40,000 salary increase this year. He showed he’s on track to earn more than $160,000 at the software company this year, including commission, pay slips that Insider saw.

This has opened up new possibilities for Woods, who has paid off all of his credit card debt since he started two jobs last November and plans to start his own business with extra money.

More Americans are finding it necessary to follow a path like the Woods Road as the cost of living gets higher and higher. In addition to last year standard inflationcosts ResidenceAnd the educationAnd the Health Care It has been on the rise for decades. And while the “Great Resignation” forced companies to do so raise wagesIt’s a drop in a bucket yet Decades of stagnant wages. To deal with some white-collar workers hold a secret Two remote jobs, with many earning between $200,000 and $600,000 a year, as originally reported by The Wall Street Journal.

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“It seems like it takes a lot of work, two jobs, and the first month is tough because you have to figure out the balance,” he said. “But once you get through this stage, it becomes a part of your daily life.”

The science of choosing a second job

Woods said he realized that his job at the software company didn’t fill in the 40-hour week, and that he could spend the time making money elsewhere.

“I don’t have a college degree, and I’m only 26, so for me to get two jobs where I’m making $150,000 plus a year, that’s impossible,” Woods said. “I wanted to make more money so I could do more things, so I could invest. I wanted to build my own nest egg.”

Woods said there are two factors to consider when choosing a second job. First, make sure the timing of the tasks required for each job does not overlap. It’s also important that your second job isn’t too much extra work that you burn.

He said he learned these lessons the hard way from his first attempt at a second job. This past November, he started working part-time at an analytics company in addition to a software job, but the analytics company wanted him to make unexpected calls during times when he ran afoul of his other job.

“I realized I shouldn’t chase positions just for the money,” he said. “I needed to pursue my happiness too.” He said he prefers a work-life balance in his current set of jobs, as he doesn’t have to take after-hours business calls.

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He also said that his system appears to be the best way to deal with the rising costs around him – specifically Standard rent in the United States.

The extra cash from his job at the analytics firm meant Woods could liquidate his credit card debt balance — more than $7,000, Insider verified. He said that before he got his second job, he was only able to pay the interest every month. With the extra income, he was finally able to tackle major debt.

The second job also means he and his wife can pay $2,000 rent for a four-bedroom apartment. And having children is something they feel more comfortable with now that they have more savings.

Getting rid of redundant labor

Woods said working two jobs was accompanied by an adjustment period, but he has now found a groove.

From 7 in the morning until 10 in the morning, he works in the software company. From 10 a.m. to 2 p.m., he balances his programming work with his calls to the furniture retailer. Then from 2 pm until 4 pm, he again works exclusively for the software company.

Woods said it’s manageable because his job duties at the retailer fit into the duties of his full-time position. He makes five phone calls an hour to sell furniture, and controls his working hours at the software company. It is also useful that he does not have daily meetings.

But that doesn’t mean he didn’t make close-up calls.

When Woods fiddled with his previous part-time job at the analytics firm, he said, he sometimes had to attend two meetings at the same time, with the camera and microphone turned off and two sets of headphones on.

Once, one of his superiors tried to call while he was talking to his manager at the other company.

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“I have been able to say that I am having technical issues with Zoom,” he said. “If I worked in the office, I wouldn’t be able to do that at all.”

swallow your pride

Woods said it’s important not to be too prestige in a second job. Most important, he added, is work-life balance and work-life balance.

“My advice is just to make sure you set a schedule and stick to it, swallow your pride and take that extra $15 an hour,” he said.

Woods said one of his “big quits” on job hopping was “just in pursuit of a higher salary” when he left his job briefly at the software company in 2020 to work at JPMorgan. He was laid off after six months and returned to the software company, which he said was a “blessing in disguise”.

“Some companies expect a lot from you and look good on paper,” he said. “Instead of leaving the job you like, add a second one,” he advised. His feelings echo those of many workers who have left their jobs over the past year for better pay, just for Leave at the end their new positions as well.

Woods said that being overqualified for a retail job makes it easy.

“I have 10 years of experience in sales, so I can look for another high-quality job,” he said. “But a lot of stress comes with one.”

But extra work as a furniture salesman doesn’t inspire him with those feelings.

“It’s the equivalent of meeting LeBron James for a game of 21 at a community college — a little bit of work here, but not much,” he said. “And I’m really successful at that.”