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☆ Meet the typical new entrepreneur: A young woman living in the South who's doing it as a side hustle
▼ + stars: | 2024-04-24 | by ( Jacob Zinkula | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.

Persons: They're, —, Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West

☆ A millennial who made $225,000 secretly working 2 remote jobs shares why he decided to give up overemployment: 'The juice wasn't worth the squeeze'
▼ + stars: | 2024-04-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

But he had a lot of downtime — and he's "not good with having a lot of downtime," the 37-year-old told Business Insider. Roughly three months later, he was secretly working two full-time remote jobs and earning about $225,000 a year in combined income. Luke wasn't sure if his job juggling had been exposed or if the company just changed its mind — he never found out. However, after weighing the challenges the hybrid policy would present, in addition to the other downsides of job juggling, Luke ultimately decided that "the juice wasn't worth the squeeze." AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Luke, jugglers, Luke wasn't, wasn't, peeking, didn't, I'm, it's Organizations: Service, Business

☆ TSMC's stalled Arizona chip factory is 'well on track' to start production next year — and it'll be charging more for US-made chips
▼ + stars: | 2024-04-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Last year, Taiwan Semiconductor Manufacturing Company reported its first profit decline in four years. The company said engineering wafer production began at the factory in April, an important step toward the eventual chip production. Last July, TSMC announced that chip production for the first factory would be postponed from 2024 to 2025. Barring further setbacks, TSMC's update could mean the first factory will begin production of chips in 2025. This funding could be particularly important for TSMC, given the cost of factory construction and chip manufacturing can differ between the US and Taiwan.

Persons: —, TSMC, Biden, Joe Biden, — TSMC, Dylan Patel, SemiAnalysis, that's, Morris Chang, C.C, Wei Organizations: Service, Taiwan Semiconductor Manufacturing Company, Business, Biden, Financial Times Locations: Taiwan, Arizona, Phoenix, Japan, Germany

☆ A millennial who moved to Canada for the quality of life shares why he wants to go back to Texas — and why he regrets not waiting to relocate until later in life
▼ + stars: | 2024-04-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

A millennial moved from the South to Montreal in 2015 to "get cultured" and attend graduate school. He said food, safety, healthcare, and quality of life are the biggest perks of living in Montreal. But he said he wants to move back to Texas for the weather, lower cost of living, and his family. In recent years, millions of Americans have moved south. "I wish we lived in Texas now and moved to Canada later in life," Linton said.

Persons: —, Dexter Linton, Linton, haven't, who've, it's Organizations: Service, Business, Lone Star State Locations: Montreal, Texas, Arlington , Texas, Kansas, Georgia, South Carolina , Florida, Canada, Linton

☆ Meet the typical immigrant worker who's recently come to the US: A young man working in construction or food services making under $40,000 a year
▼ + stars: | 2024-04-16 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +5 min

Read previewNearly three million more Americans are working than they were in January 2020, but the number of US-born workers has barely budged. Roughly 64% of these recent immigrants were working or looking for work, compared to 62% of US-born workers. Over 16% of recent immigrants worked in the construction industry, compared to 6.4% of US-born workers. Roughly 17% of immigrants worked in the professional and business industry, compared to 12% of US-born workers. AdvertisementAbout 12% of recent immigrants worked in the accommodation and food services industry, compared to 7% of US-born workers.

Persons: —, Goldman Sachs Organizations: Service, of Labor Statistics, Business Locations: Mexico, New York, Chicago, US, South America, Central America, Florida , California , Texas, New Jersey , Illinois , Massachusetts, Georgia

☆ AI could split workers into 2: The ones whose jobs get better and the ones who lose them completely
▼ + stars: | 2024-04-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Lower-income workers without a college degree could be at the most risk of AI job replacement. AdvertisementNothing is certain about the future of AI technologies, but three things are becoming more clear. That said, if and when some AI job replacement does come, some workers could be more at risk than others. Conversely, 17% of high school graduates had jobs with high AI exposure, and 14% had jobs with both high AI exposure and low performance requirements. Re-training workers who lose their jobs due to AI could help move the needle in a more positive direction.

Persons: —, It's, Angus Deaton, Deaton, he's Organizations: Service, of Economic Advisors, Walmart, Target Locations: China

☆ 6 people who made up to $500,000 a year secretly working multiple remote jobs share why they don't feel guilty — and why there's nothing wrong with 'overemployment'
▼ + stars: | 2024-04-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Read previewIf you could double your income by secretly working multiple remote jobs, would you do it? The share of US remote job postings on LinkedIn fell from over 20% in April 2022 to about 10% in December 2023. AdvertisementWilliam, a Texas-based tech worker in his 30s who told Business Insider he earned over $500,000 in 2022 secretly working multiple remote roles, agreed with this line of thinking. Steven said he didn't feel guilty about job juggling because he was still able to complete all the duties and tasks assigned to him. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, jugglers, shouldn't, they're, There's, Joseph, hadn't, Joseph isn't, Robert, John, he'd, there's, it's, Steven, overemployment, William, Justin, Xer Organizations: Service, Business, LinkedIn, Amazon, Google, Elon Locations: Florida, California, Asia, Texas

☆ A London millennial who turned about $6,000 into $30,000 through cryptocurrency investing shares his top investment tips
▼ + stars: | 2024-04-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

A London-based millennial sold $30,000 of his cryptocurrency investments in 2021 to buy an apartment. He shared the top investment strategies he's used since he began investing in 2017. It wasn't until 2017 that the London-based millennial began investing in crypto tokens, he told Business Insider via email. Bill sold roughly $30,000 (or €28,000) worth of Ripple and Stellar, according to documents viewed by BI. For now, Bill said he's waiting for crypto prices to fall or for an attractive investment opportunity to arise.

Persons: he's, —, Bill, he'd, Bill doesn't Organizations: Service, BI, Ethereum Locations: London, cryptocurrencies, Solana

☆ Remote work has been a mixed bag for women when it comes to pay. But it's helped some men be 'overemployed' and make six figures.
▼ + stars: | 2024-04-10 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

But a lot of women haven't been able to take advantage of this remote work perk. Remote work has helped women's progress toward equal pay, but it's had a mixed impact on women's career advancement. On the one hand, remote work has allowed more women to stay in the workforce when they otherwise might forced out due to childcare demands. Women's relationship with remote work both helps and hurtsWomen are working at near-record levels, and the growth of remote work in recent years is among the key reasons. AdvertisementMen and women work from home at very similar rates, but there's some evidence that remote work is even more prevalent among women.

Persons: —, haven't, it's, jugging, jugglers, Aaron Terrazas, Nicholas Bloom, Sarah Small, Small, Nicole, Stanford's Bloom, Meredith Whitney, Utah's Organizations: Service, Business, Stanford, University of Utah, of Labor Statistics, WomenTech Network, Labor Department, Bard College Locations: Washington, overemployment

☆ The best use of generative AI for office workers so far could be relieving a massive productivity drain: meeting overload
▼ + stars: | 2024-04-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Many workers say meeting overload can hurt their productivity. Microsoft's research suggests that using AI tools to chip away at meeting time could be the low-hanging fruit for some new adopters. Meetings summaries aren't the only way AI tools are helping workers save time. AdvertisementA Slack survey of over 10,000 global desk workers conducted in January found that 24% had tried using AI tools on the job. The learning curve that can come with AI tools is why some companies are providing employees with more training resources and encouraging them to experiment with these technologies.

Persons: —, they'd, Steven Rogelberg, Rogelberg, HubSpot Organizations: Service, Microsoft, Wakefield Research, Business, University of North Locations: North America, Europe, University of North Carolina, Charlotte

☆ A millennial who made $170,000 secretly working two remote jobs says it helped him pay off about $50,000 in student loans
▼ + stars: | 2024-04-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

This made it possible for him to reduce his loan balance by over $50,000 — he has about $65,000 left in student debt as of March, he told BI via email. That December, he stumbled upon a YouTube video that provided him with the idea he'd been looking for: He could try to secretly juggle multiple remote jobs simultaneously. As for his student debt, his repayment goal is right on schedule. Advertisement"I'm expecting to have all my student loans paid off before Christmas," he said. Are you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Adam, he'd, he's, didn't, overemployment, it's, — didn't Organizations: Service, Business, LinkedIn Locations: Arizona

☆ Here's how much engineering students make in the middle of their careers
▼ + stars: | 2024-04-04 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +1 min

Mid-career median wages of bachelor's degree graduates who majored in engineering are robust. The median mid-career wage for four types of engineering majors was $100,000. Five types of engineering majors had a median wage above $100,000, including electrical and chemical. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Mid-career wages in this analysis means full-time workers between the ages of 35 and 45.

Persons: — Organizations: Service, New, Survey, Business Locations: New York

☆ Don't secretly work multiple jobs if you want to advance in your career, overemployed workers say
▼ + stars: | 2024-03-30 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some people have made as much as $500,000 a year secretly working multiple remote jobs. "There is a certain level you cannot be at to perform well on multiple jobs," Robert said. AdvertisementBut life is full of tradeoffs, and that's as true as ever for the people secretly working multiple remote jobs. Overemployment can provide workers with valuable experienceNot every overemployed worker agrees that working multiple jobs is bad for career advancement. AdvertisementAre you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: —, Robert, who've, They've, jugglers, William, John, he's, Justin, wasn't, I'm Organizations: Service, Business Locations: Florida, Texas, California

☆ 14 college majors where the typical graduate is making at least $100,000 by the middle of their careers
▼ + stars: | 2024-03-28 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +1 min

The New York Fed analyzed the mid-career wages of college graduates with a bachelor's degree. Those graduates aged 35 to 45 with one of 14 majors had a median wage of at least $100,000 a year. Nine of those 14 college majors were related to engineering. AdvertisementWhen undergraduate college students choose their majors, there can be several factors that go into their decisions. A New York Fed analysis of 2022 American Community Survey data found that college graduates who majored in one of 14 areas of study had a median mid-career wage of at least $100,000 a year.

Persons: — Organizations: New, Fed, Service, Survey, Business Locations: New York

☆ An athletic scholarship and NIL deals aren't going to pay for your kid's college tuition. Here are the odds they're up against.
▼ + stars: | 2024-03-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Many of these student-athletes have full-ride athletic scholarships that cover their tuition and fees, course-related books, and room and board. What's more, landing an athletic scholarship often isn't enough to fully pay for one's college education. While 2% of high-school athletes receive an athletic scholarship, Strasman said only about 1% receive a full-ride scholarship that fully covers expenses like tuition, books, and room and board. While any scholarship money is better than none, there's no guarantee those funds will be there all four years. "I would say likely the kids that have the biggest paydays that we're hearing about are often already on scholarship," Strasman said.

Persons: —, it's, Lisa Strasman, Strasman, Strassman, there's, University of Iowa's Caitlin Clark, Clark, Bill Carter, haven't Organizations: Service, Business, Power, NCAA, University of Iowa's, Sports Business

☆ The gig economy, overemployment, and job switching have made it easier than ever to boost your income. But those strategies aren't always worth it.
▼ + stars: | 2024-03-18 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Some side hustles come with a significant time investment and unpredictable pay. Related storiesNot all side hustles come with the time investment that ride-hailing does. But everyone with a side gig is faced with the same question: Are the extra working hours worth the financial reward? Only eight months after he started, he resigned from his two extra roles and decided to stop job-juggling for the time being. But all prospective job-switchers are faced with the same question: Are the uncertainties that come with a new job worth the financial reward?

Persons: —, switchers, Lyft, There's, overemployment Organizations: Service, Business, Harris Poll, Uber, Twin Cities, Bureau of Labor Statistics —, Federal Reserve Bank of Atlanta, Harris, Atlanta Fed Locations: Atlanta, Minnesota, Texas

☆ A Texas millennial wasn't satisfied with his dating life. He said things changed when he started earning $100,000 a year.
▼ + stars: | 2024-03-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

A Texas millennial says his dating life improved when he started making more money as a pharmacist. AdvertisementWhen Benjamin Gibson was in his early 20s, he didn't have much success in the dating scene. Gibson isn't the only American who thinks a strong career and financial profile could help their dating success. "I do feel better because it took me time to have confidence, even after I started working as a pharmacist." Has career success helped your social or dating life?

Persons: —, Benjamin Gibson, Gibson, he'd, Pinghui Wu, he's, doesn't Organizations: Service, Business, Bureau of Labor Statistics, Federal Reserve Bank of Boston, Boston Fed Locations: Texas, Virginia

☆ Uber and Lyft are threatening to leave Minneapolis over a ride-hailing proposal supporters say would guarantee drivers earn the city's minimum wage
▼ + stars: | 2024-03-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

The conversation around ride-hailing driver pay has been heating up across the country over the past year. AdvertisementLoren Balazs, a full-time driver in Minneapolis, told BI he's worried the city council's proposal would hurt his ride-hailing business. The study estimated that a minimum pay rate of $1.21 per mile and $0.49 per minute would guarantee drivers earned the city's minimum wage. AdvertisementThe debate over minimum pay for ride-hailing drivers has been building in Minneapolis for over a year. Tim Walz vetoed a bill that would have established minimum pay standards for Uber and Lyft drivers.

Persons: —, Erin Hatton, Jacob Frey, Lyft, Lyft haven't, Uber, behemoths wouldn't, aren't, Axios, Alexandrea Ravenelle, Sergio Avedian, Guy, Austin, Avedian, Joe Pierce, he'd, Loren Balazs, Sheri Wegner, they'll, Mayor Frey, Tim Walz Organizations: Service, Business, University at Buffalo, Minneapolis City Council, Minneapolis, New, Seattle, Minnesota, University of North, Star Tribune, Minnesota Gov, Uber, Minneapolis City Locations: Minneapolis, Minneapolis ? Minnesota, New York City , Washington, California, Chicago and Massachusetts, Washington, Seattle, Minneapolis . Washington, Alexandrea, University of North Carolina, Minnesota, Twin Cities

☆ A millennial who moved from Vancouver to LA says he has no plans to head back to Canada. An improved social life offsets high rent costs and the US healthcare system.
▼ + stars: | 2024-03-12 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

After all, his entire personal and professional life had been in Vancouver, Canada, the 33-year-old told Business Insider via email. Last October, after several months of splitting his time between Canada and LA, Martin and his husband secured visas and moved from their Vancouver suburb to West Hollywood. While he's not a fan of LA's rent costs and the US healthcare system, he said the move has had a "life-changing" impact on one thing: his social life. Business Insider asked Martin what the biggest pros and cons have been of his Canada-to-California move, and whether the improvement to his social life has offset the downsides. Their social life is a big reason why.

Persons: —, Stuart Martin, Martin, he's, He's Organizations: Service, Business, West Hollywood, Survey, LA, Wall, of Agriculture Locations: Vancouver, Canada, Los Angeles, LA, West Hollywood, West, California, Louisiana, West Virginia, Hawaii , Illinois, New York

☆ Dartmouth men's basketball is the first college team to vote to unionize. But the fight over the future of college sports could just be beginning.
▼ + stars: | 2024-03-10 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

By a vote of 13 to 2, the team voted to join the service employees union SEIU Local 560 — making them the first college athletes in US history to vote to join a labor union. Then, last month, the NLRB ruled that the Dartmouth players were employees of the school, clearing the way for the unionization vote. The Dartmouth vote also comes as the share of union members in the US reached a record low of just 10% in 2023. AdvertisementIn the short term, however, the impact of the Dartmouth vote could be limited. AdvertisementIf the NLRB's decision to recognize the Dartmouth players stands, it could establish a precedent that enables other teams to follow suit.

Persons: —, Dartmouth, Kaiser, There's, Victor Chen, Chen, Jake Rosenfeld, Louis, Trump, Rosenfeld, VCU's Chen, Matthew Johnson, Johnson, Barry Eidlin Organizations: Service, Dartmouth men's, Harvard, SEIU Local, National Labor Relations Board, Dartmouth, NLRB, Business, US, UAW, Hollywood, Kaiser Permanente, Virginia Commonwealth University, Washington University, NCAA, Northwestern football, Northwestern, Big, Associated Press, University of Southern, —, USA, Duke University, McGill University Locations: Dartmouth, St, University of Southern California, Angeles, Montreal

☆ Harvard researchers think they know why the booming economy still isn't being felt by average Americans
▼ + stars: | 2024-03-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Now, a group of them has created an interesting model that suggests much of people's dissatisfaction with the economy comes down to interest rates. In fact, the impact of rising interest rates isn't directly accounted for anywhere in the official CPI report — even though they've also contributed to surging car payments and made credit card debt much more costly. That's why the economists developed their own inflation measure, and they think it provided a more accurate prediction of economic sentiment. Cramer said additional evidence for the impact of interest rates on consumer sentiment has come in recent months. Between November and January, the Michigan consumer sentiment index saw its biggest two-month increase since 1991 — just as mortgage rates fell from their recent peak.

Persons: —, Judd Cramer, Larry Summers, they've, hasn't, Harvard's Cramer, Cramer, pocketbooks, it's, Joe Biden's Organizations: Service, Business, National Bureau of Economic Research, Harvard University, International Monetary Fund, of Labor Statistics, University of, Harvard, BLS, Federal, CPI, Federal Reserve Locations: Michigan

☆ Oldest siblings tend to make more money. Researchers have a new theory that explains why.
▼ + stars: | 2024-03-07 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

An NBER working paper found that older siblings tend to make more money than their younger siblings. AdvertisementFor years, researchers have found that the eldest child tends to earn more money and perform better on cognitive tests than their younger siblings. AdvertisementOther reasons first-born siblings might have an advantageDayal told BI that studies across various countries and contexts have corroborated the idea that older siblings tend to have more education and economic success than their younger siblings. "Interestingly, these benefits start to emerge around age 12, when older siblings have more to teach and younger siblings are more ready to learn." AdvertisementGrant cited a study of 240,000 Norwegian teenagers that found younger siblings who had firstborn siblings die in infancy went on to have higher intelligence scores than laterborns with firstborn siblings.

Persons: —, Meltem, Daysal, Younger, Dayal, Sandra Black, Columbia University who's, Adam Grant's, Grant Organizations: Service, National Bureau of Economic Research, of Economics, University of Copenhagen, Columbia University Locations: Denmark

☆ Meet an atypical overemployed worker: A millennial woman earning $95,000 secretly working 2 non-tech jobs
▼ + stars: | 2024-03-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A millennial woman started secretly working a second remote job in January to boost her income. Nicole is among a niche group of people secretly working more than one remote job and getting away with it. This year, the Washington-based 30-year-old is on track to earn nearly $100,000 across two remote jobs, according to documents viewed by Business Insider. Differences in gender roles and expectations could also be holding some women back from pursuing overemployment, Nicole said. Are you working multiple remote jobs at the same time and willing to discuss details about your pay and schedule?

Persons: —, Nicole, she's, overemployment, hasn't, jugglers, doesn't, Overemployment, she'd, She'd Organizations: Service, Fortune, LinkedIn, Business, WomenTech Network Locations: Washington, overemployment

☆ A Gen Xer who made over $300,000 secretly working 3 jobs at the same time says overemployment allowed his partner to stop working and paid for a $20,000 cruise
▼ + stars: | 2024-03-02 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A Florida Gen Xer made over $300,000 secretly working three jobs in the tech industry. AdvertisementAfter being laid off from his tech job in 2019, Robert wanted two things: job stability and multiple sources of income. By 2021, he'd found a remote job that he said paid $180,000 a year and had a part-time gig that was bringing in an additional $2,000 a month. He went looking for other remote jobs and landed one that paid $190,000 a year. Robert said his overemployment journey likely wouldn't have happened if the pandemic hadn't led more companies to adopt remote working arrangements.

Persons: Xer, —, Robert, he'd, Overemployment, Robert's, overemployment, COVID Organizations: Service, BI Locations: Florida

☆ It's not just Nvidia: The AI boom could create semiconductor jobs across the US and reduce reliance on risky Taiwan
▼ + stars: | 2024-02-29 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

The demand for Nvidia's AI chips could bolster job growth across the semiconductor industry. It could also help bring more semiconductor chip manufacturing stateside and reduce the US's reliance on Taiwan — which remains vulnerable to Chinese invasion that would wreak havoc on the global economy. AdvertisementEven without the AI boom, the semiconductor industry was already poised for big job gains in the near future. Of the 115,000 US new semiconductor jobs the Semiconductor Industry Association is projecting by 2030, it said roughly 67,000 of these positions risk going unfilled given current college degree completion rates. In an effort to prevent a worker shortage, community colleges and universities across the country have partnered with semiconductor companies.

Persons: —, Pat Gelsinger, It's, who've, TSMC, Syed Alam, Ed Kaste, GlobalFoundries, Mark Muro, Muro, Jensen Huang, hasn't, Dylan Patel, SemiAnalysis, Patel, Accenture's Alam, Alam Organizations: Nvidia, TSMC, Service, Deloitte, Semiconductor Industry Association, Accenture, Meta, Intel, AMD, Brookings Institution, Samsung, Google, IBM, Lam Research, Materials, KLA Corporation Locations: Taiwan, Arizona

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