The Forbes article Six Figure Solo Businesses Grew by 45% in 5 Years, Study Finds reports on the growing number of U.S. independent workers who report earning more than $100k.
The key quote comes from Gene Zaino, CEO of MBO Partners:
“It’s a reflection of what’s happening in the traditional workforce,” Zaino says. “There’s segment of our workforce that is in high demand ... As these people realize they’re in high demand – if they see their consulting firm billing them out at four times what they are being paid – they become even more entrepreneurial because they see opportunity. More of the high-talent people are realizing they are able to go off on their own and make more money and they’re doing it.”
The data comes from the 5th annual MBO Partners State of Independence report. We work with MBO Partners on this study.
With Uber, Lyft and other 1099 economy companies getting so much attention these days, the focus of the media is on independent workers that have relatively low earnings.
This data shows there's also a substantial number independent workers who are highly skilled and well compensated. In fact, there are many more independent workers making more than $100k (about 2.9 million) than currently working full-time in the on-demand economy (less than 700,000).
The chart below shows the growth of this talented and well compensated group of independent workers.
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