Taskrabbit's CEO says gig workers can make a lot of money – up to six figures – by taking on side hustles.

As the job market continues to slow down, many individuals are looking for alternative ways to supplement their income. One such avenue is through side-hustle platforms, which have seen a surge in demand lately. According to Taskrabbit CEO Ania Smith, some users are even earning six figures annually through the platform.

With the current state of the economy, the rise of AI, and the high cost of living, job seekers are facing a tough landscape. However, Smith believes that Taskrabbit continues to provide a viable path to extra income. Since taking over as CEO in 2020, she has made it a priority to better match the supply and demand on the platform.

As a result, she has seen a recent graduate in New York City earn over $200,000 in his first year on the platform. “He was a student at NYU who had just graduated and was still looking for a full-time job,” Smith shared in an interview with Entrepreneur. “But he had heard of Taskrabbit and realized that he could use his skills in mounting TVs to his advantage.

He was also very familiar with Manhattan and even got a mini scooter to get around quickly. He was able to complete two to three TV mountings per hour by grouping jobs close together. In the end, he made well over $200,000 in his first year on the platform.

There are many success stories like that.” The amount one can earn on Taskrabbit varies depending on their location and the type of work they do. Different markets demand different hourly rates, with the U.S. average being around $50 per hour.

In places like New York City, the hourly rate can reach up to $55. Smith believes that success on the platform ultimately comes down to a user's skills and their goals. “Users can choose to specialize in one category and become great at it, or they can expand into multiple categories.

They can also choose to focus on one geographic area or widen their reach. Depending on their skills, they can either do more jobs at a lower base rate or fewer jobs at a higher base rate. There are many ways to maximize earnings on our platform,” she explained.

With the job market shifting, side hustles are gaining popularity once again. It is estimated that 33% to 45% of Americans, roughly 70-80 million people, rely on them to supplement their income. In fact, 44% of individuals consider these side hustles essential for their financial survival.

While some use the extra earnings to cover expenses, others put it towards savings or even turn their hobbies into businesses. For those considering trying out Taskrabbit to earn extra income, Smith has some advice: “The first step would be to sign up on the platform and take a look at the types of jobs available and the categories we offer services in. Then, understand your skill set and think about how to best market yourself.

On Taskrabbit, you can add photos and describe your skills. It's also important to be prompt in responding to job requests and to be reliable, so you show up when you say you will. Setting your hourly rate within the appropriate range is also crucial in attracting customers.

And finally, be courteous and do a good job when you show up to complete the task.” In summary, with the current state of the job market, side hustles are becoming a popular way to supplement income. Taskrabbit, in particular, has proven to be a successful platform for many, with some even earning six figures annually. Whether one is looking to cover expenses or turn their hobbies into a business, Taskrabbit offers a variety of opportunities for individuals to make extra income.

It all comes down to utilizing one's skills, marketing oneself effectively, and providing quality and reliable services.