In the past, most working people had only one job. However, nowadays, more and more people have more than one job at the same time.
What are the reasons for this development?
What are the advantages and disadvantages of having more than one job?
What are the reasons for this development?
- To make ends meet in times when the cost of living is extremely high
- To afford better facilities and improve quality of life
- To create buffer for emergencies and also autumn years
- To create job security
- To switch careers
- To develop skills in multiple areas
- Sometimes many aim to establish their own business someday, and multiple careers can give a broader exposure and also help create diverse network
Benefits
- Reduces dependence on others for continued subsistence
- Creates better opportunities for a good life for self and the kin
- Do not have to suffer in tough times
- Can create a versatile network
Drawbacks
- Hampers work life balance
- Impacts health issues
- Can cause marital discord
Economic compulsions are forcing many to engage in multiple professions, turning this propensity into a ubiquitous phenomenon, and I feel that it can bring rich dividends, overall, despite having certain pitfalls.
Inflation has adversely impacted purchasing power, compelling a growing number of people, regardless of age, to work for more than one employer. Similarly, the intensifying competition for employment has resulted in a decline in wage rates, leaving workers with few options but to work in different occupations simultaneously. These two aspects are duly substantiated by the International Labor Organisation 2024 report, stating that financial constraints posed by rising prices, and low paying jobs, are fueling this inclination.
This penchant is proving to be extremely advantageous, in terms of helping amass sufficient monetary resources to act as a buffer against uncertainties presented by soaring cost of living, inadequate compensation, unannounced emergencies: medical, and so on. Moreover, one can also create financial reserves to cushion life in autumn years, thereby nearly eliminating the need to depend on others. To illustrate, a majority of Japanese follow this pattern, and admit creating enough savings to handle financial obligations in young years efficiently, and lead a life in twilight years comfortably.
However, this proclivity can turn lifestyles into chaos, wherein every sphere - from professional and personal to familial and social - can fall into disarray, causing mental agony. Additionally, overwork, resulting from multiple professional engagements, could have severe ramifications for physical and mental wellness. Nevertheless, these complications can be surmounted by carefully navigating through personal and professional domains, and taking regular breaks from work.
Overall, financial compulsions are the primary factors underpinning this phenomenon, and if people balance their professional, and other domains, judiciously, they can lead a comfortable and satisfying life, and avoid unfavorable impact.
