Yahoo Finance Forget Side Gigs — ‘Fractional Work’ Is the Most Lucrative Way To Boost Earnings
Today’s job landscape enables a number of different working arrangements, from full time to part time to somewhere in between. One of the latest — and most lucrative — job trends is the concept of “fractional work.” According to Forbes, fractional work “refers to a work arrangement in which a person — usually a mid- to senior-level executive — provides specialized skills or management services to multiple organizations on a part-time or project basis.”
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If this is something that appeals to you, read on to find out how to find fractional work — and how much you can expect to earn.
Are You a Good Candidate for Fractional Work?
To be eligible for fractional work, you typically need specialized skills or job experience in a particular field — and that’s not the only requirement for success.
“A fractional worker must be adaptable to the timeline designated by the employer,” said Scott Lieberman, founder of Touchdown Money. “They must be able to problem-solve independently and resolve any issues while getting the job done on time.
“Above all, a fractional worker must have an entrepreneurial mindset,” he continued. “This means being outgoing, self-reliant and taking the initiative to find jobs consistently.”
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How To Find Fractional Work
You might not be able to find fractional work gigs posted on jobs websites. These jobs are typically secured via networking.
“To secure a fractional job, it is imperative to be a good networker who is constantly connecting with industry peers and potential clients to hear about new opportunities and secure projects,” Lieberman said.
These jobs also tend to be more competitive than traditional roles.
“When you apply for a regular job, you must demonstrate that you can do the role better than other potential candidates. The stakes are greater for fractional work,” said Tim Toterhi, coach at Plotline Leadership. “Before pitching for an assignment, you need to clarify your value statement — what you, and only you, can provide. Then, you must articulate how you can achieve those results quickly under a variety of challenging circumstances.”
How Much Can You Expect To Make?
For those who are qualified and are able to secure these coveted roles, the payoff can be great.
“Fractional work can be as, and in many cases more, lucrative than a traditional full-time role,” Toterhi said. “However, earnings will vary based on industry, experience and value created.”
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This article originally appeared on GOBankingRates.com: Forget Side Gigs — ‘Fractional Work’ Is the Most Lucrative Way To Boost Earnings
