New research from Branch and Stripe shows that gig work has become more than a source of supplemental income. For many workers, it is now a primary income stream, a flexible way to earn, and an entry point to entrepreneurship. Branch is a provider of workforce financial infrastructure, and Stripe is a programmable financial services company.
According to the new Branch + Stripe Gig Workforce Index, 56% of gig workers surveyed say gig work accounts for the majority of their household income. At the same time, many workers see gig work as more than a short-term stopgap: nearly half view it as either a permanent way to earn or a stepping stone to starting their own business.
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As gig work becomes a more established part of workers’ financial lives, the findings point to the need for better financial infrastructure. According to the survey, fast payouts ranked as one of the top factors that would make workers stay with a platform, second only to higher pay, and 3 in 10 workers (30%) say they have stopped using a platform because of a payment or payout issue. 84% say financial management tools provided by their platform would be moderately to extremely valuable.
“Gig work has become a meaningful path to income, flexibility, and long-term opportunity for many professionals,” said Atif Siddiqi, founder and CEO of Branch. “When gig work becomes someone’s primary income, getting paid quickly matters, but so does what happens next. Marketplaces and platforms that go beyond fast, reliable payouts to support workers’ broader financial lives will be best positioned to support and retain today’s flexible workforce.”
“As gig workers increasingly turn to marketplace and platforms as their primary source of income, they’re looking for financial tools that help them manage and grow their earnings,” said Sateesh Srinivasan, Product and Business Lead for Money Management at Stripe. “Together, Branch and Stripe give those companies an easier way to deliver those richer financial experiences, earning deeper worker loyalty and accelerating their own growth in the process.”
The research also finds that many gig workers see AI as a tool to help them find and manage opportunities: 77% of respondents say AI could help them in at least one area of their work, including finding new gigs or clients (50%), scheduling or managing their time (44%), setting prices or negotiating rates (32%), and writing messages, listings, or proposals (32%).
Key Findings
Gig work rewards speed and flexibility.
- More than 60% of respondents say they need to respond to a posted gig in less than two minutes before it is gone, including 29% who say they need to respond in under 30 seconds.
- 46% of gig workers actively use three or more platforms or apps to pick up work.
Fast payouts can influence platform choice and retention.
- 89% say faster, more reliable payouts would make them more likely to choose one platform over another.
- 3 in 10 workers (30%) say they have stopped using a platform because of a payment or payout issue.
- 72% use their pay within 24 hours of it landing—most often to pay bills (45%) or buy essentials like groceries and gas (27%)—while only about 1 in 8 are able to move any of it into savings.
Gig workers see AI as a tool to help grow and manage their work.
- 77% of respondents say AI could help them in at least one area of their work.
- 50% say AI could help them find new gigs or clients.
- 44% say AI could help with scheduling or managing their time.
- 32% say AI could help with setting prices or negotiating rates.
- 32% say AI could help with writing messages, listings, or proposals.
Gig work is an entry point to entrepreneurship, but costs can get in the way.
- 23% of respondents view gig work as a stepping stone to starting their own business.
- Among those interested in starting a business, the top barriers include startup capital (49%) and inconsistent income (37%).
- 53% spend more than a quarter of their gig earnings on job-related expenses such as gas, vehicle maintenance, parking, and supplies.
- Fuel and transportation is the single largest out-of-pocket cost for 61% of workers, well ahead of vehicle maintenance (22%).
Financial tools can help workers manage income volatility and upfront costs.
- 68% of respondents say they could not cover, or were unsure they could cover, a surprise $400 emergency expense.
- 78% say their weekly gig income varies from week to week.
- 84% say financial management tools provided by their platform would be moderately to extremely valuable.
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Tags: branch, entrepreneurs, entrepreneurship, gig economy, gig work, Payroll, rideshare, stripe, workforce
