The Science Of ...

Many South Africans (rich and not-so-rich) are working more than one job

It’s more middle- to upper-income people who are slashers.

Lynette Nicholson, Old Mutual

Many people said they wanted to do something they’re passionate about.

Lynette Nicholson, Old Mutual

In Nigeria more than 50% to 60% of people working are slashers.

Lynette Nicholson, Old Mutual

More and more of us are making ends meet by becoming “slashers”, according to the 2017 Old Mutual Savings and Investment Monitor survey.

The term “slasher” refers to someone with more than one regular source of income.

943 people took part in the survey.

Here are some of the findings:

  • 24% of those interviewed were true slashers (i.e. their jobs were unrelated)

  • 13% had a secondary job related to their primary one

  • 53% of respondents would prefer to make a career of their secondary job

  • 63% enjoy being a slasher

  • Having more than one job can negatively impact on family life, as indicated by 17% of respondents

Sumitra Nydoo (in for Bruce Whitfield on The Money Show) interviewed Old Mutual Research Manager Lynette Nicholson for the weekly “The Science Of” feature.

Nicholson discussed the survey and this growing trend.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

There is no industry or age skew.

Lynette Nicholson, Old Mutual

Lower income earners are less likely to have the time to have two jobs.

Lynette Nicholson, Old Mutual

The issue of job security came up as well.

Lynette Nicholson, Old Mutual

Millennials are more confident about what they can and can’t do.

Lynette Nicholson, Old Mutual

Between 8% and 12% of South Africans are self-employed. That’s very low.

Lynette Nicholson, Old Mutual

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