Bankers have all the money in the bank, but why look for side hustle as bankers?
Well, jokes apart, all of those who work a day job know that a single source of income isn’t just enough to cover the rising bills.
The global debt reached up to $303 trillion in 2021, a growth of 34% from 2020. (as per IIF)
Many day job goers will agree that constant never-ending credit card debt and loans remain to be one of the major stress factors in life.
Starting a side hustle is the best way to supplement your regular income and add another source of income (even passive income).
Today we are going to look at 16 side hustles to start as bankers and what to expect from them.
Let’s get started now…
In this Guide
List of Side Hustle to start as bankers
Before we look at each of the side hustle to start as bankers, let’s summarize what we are about to discuss today:
|Start a Blog||Earn at least $500 per month|
|Become a freelance content writer||$10 – $125 per gig|
|Be a YouTube creator||$5 RPM for ads|
|Become a financial advisor||$29.96 – $76.49 per hour|
|Start a Podcast||$3 – $7 funding per Patreon|
|Be a Tutor for others||$100 per month|
|Create a course related to banking||$8 per course|
|Earn from affiliate commission||$10 – $200 per product sale|
|Partner with others for ad revenues||$100 – $500 per month|
|Sell ebooks or guides related to banking||$21 per ebook|
|Become a data entry operator||$5 – $15 per gig|
|Start a Print on Demand business||$3 – $17 per sale of merch|
|Start a Dropshipping store business||Up to 5 figures earnings of the business|
|Become a Virtual Assistant||$5 – $15 per gig|
|Be a petsitter||$30 – $50 per visit|
|Become a babysitter||$50 per hour|
|Become a social media influencer||Long-term affiliation with brand promotions, sponsorships, other partnerships, etc|
Let’s start with my favorite side hustle, i.e. BLOGGING.
Start a Blog
Blogging is the first and foremost side hustle for bankers to look at.
Well anyone on the internet would also love to reads stuff alongside watching videos or listening to podcasts when it comes to gaining knowledge.
As a banker, you can share a lot of information related to what’s happening around the globe related to plenty of things, such as
- Information related to credit cards.
- Personal finance topics such as loans and mortgages.
- Best ways to invest money.
- Best ways to take insurance for life and more.
All of these would matter a lot when it comes from the horse’s mouth…🙂
And blogs can make a really good amount of money if you stay consistent with them in the long run.
Niches such as personal finance and credit cards have high RPMs and make a solid income in the long run.
There are plenty of examples in the personal finance niche, where blogs have made a ton of money.
Here are a few examples of personal blogs making good money:
|thisonlineworld.com||$92000 in 2021|
|believeinabudget.com||$109879 in April 2018|
|dollarsprout.com||$61915 in October 2018|
|makingsenseofcents.com||$5 Million from blogging|
|themoneyninja.com||$31156 from Q1 of 2020|
Become a freelance content writer
If you don’t want to start your own blog, you can look to become a freelance content writer.
As a freelance content writer, you can definitely write articles based on the above topic for the finance sites.
There is so much scope to learn and you can add your expertise and knowledge on topics related to finance.
A content writer will always be in demand as long as other content creators are also trying to build their content around the audience.
Fiverr is one of the largest freelancing sites which offers around $10 – $125 per gig for content writers.
As you are in the field of banking you are in a better position to serve the topics such as:
- Best personal credit cards
- How to take insurance coverage for family
- What are the Dos and Donts while taking a mortgage loan and more?
This will be a job that is also more suited for introverts who are looking to make money behind their computer.
Be a YouTube creator
Starting your own YouTube channel would be probably the most desirable side hustle for bankers.
YouTube presents a plethora of opportunities and is one of the best ways to connect with people as well.
One can even opt to make videos without showing their face and create content behind the computer as well.
All you need to start creating content for YouTube is an internet connection and a mobile preferably.
There are again so many niches and sub-niches that you can cover if you want to hustle on YouTube.
When it comes to earnings on YouTube, you can expect to have at least $5 RPM (on the lower side and make money with time):
Here’s an interesting analysis of numbers as to how much you can expect from views on YouTube:
|Total Views||Ads Income (based on $5 RPM)|
Become a financial advisor
A financial advisor is a lucrative side hustle to look into beyond your day job and what you do as a banker.
If you are already doing this actively full-time, kudos you need not refer to this one and look into the next.
But, if you are someone who doesn’t advise on financial matters, you can definitely start advising clients on financial matters.
Being a financial advisor requires not only knowledge and educational degrees but also needs trust and expertise in what you are advising the clients about.
Many people fail in this industry because the advice they share doesn’t evoke confidence and trust among potential clients.
While this is a high-risk job, it does have high-paying rewards too.
A financial advisor can charge between $56,250 and $532,369 in 2022 with an hourly rate of $29.96 – $76.49 per hour (excluding CFO).
Start a Podcast
A podcast is one of the best ways to start connecting with your audience when all you need is to lend your voice.
Starting a podcast requires a bit of investment, but the returns can be fantastic in the long run.
An estimated 505 million users are expected to tune in to the podcast in the next 2 years.
This speaks to the opportunity available to monetize and make money online from this side hustle as a banker.
The above shows one strong method of monetization of content and that is Patreon support.
Patreons love to support their favorite content creators and help bring revenue for the creator.
This is an example of a banker making money from podcasts from Patreon support at $2.83 – $7 per Patreon.
Be a tutor for others
Coaching is quite popular for bankers who have prepared hard in their life and cleared exams to reach
You can act as a mentor or guide and tutor others in the process to explain the topics you have learned the hard way.
As this is a field of study that involves learning and implementing the things learned, you can help someone else in their preparation for the exams as well.
This would involve providing live classes to students who are looking to learn the tricks of the trade in the banking business.
Some of the things that would be a part of tutoring would include the following:
- How to prepare for the exams
- Which subjects to look into for preparing for the exams
- Planning for the exams etc
Create courses related to banking
A course is always something which anyone would take to learn about banking.
There are plenty of things you can offer in a course if you don’t want to tutor students.
The above are examples of 2 courses that have been selling really well over Udemy.
As you can see the pricing of the course is somewhere around $8 for each course.
There are plenty of sales registered for the course already on the platform.
This is a really great source of passive source of income with each one selling and bringing in revenue month on month from the people.
While there are so many courses that are based on banking and its whereabouts, each of the courses sells with a new perspective added to it.
Even a course on How to use Excel also has a lot of value and can bring a huge amount of revenue as it did for Miss Excel.
Miss Excel is Kat Norton who has taught over 100k students about Excel in an interactive manner which has made her over $100k each day.
The creation of a course requires you to record the information and put it onto a package for better understanding for the audience.
Earn from affiliate commission
Affiliate commission is quite common among all who are looking to earn money online.
If you have any particular product which you would like to market to others, then you can definitely expect to make a steady income of at least $500 per month.
In the space of personal finance, there are a lot of really good products to promote for.
Credit cards, loans, debt, and mortgages all are affiliate heavy products are sellers earn a hefty commission from them.
Here’s a quick summary of the top 5 best credit cards and their affiliate commission:
|American Express||€2.50 – €110|
|M1||$20 – $70|
|Barclays||$90 – $170|
|Upgrade||$75 – $200|
|Chime||$8 – $10|
As you can see there is a lot of potential if you happen to sell these credit cards to other people.
Some of the most common ways to sell these would be your own Blogs, YouTube channels, or even Instagram to promote these to others.
Partner with others for ad revenue
This is quite a new and innovative way to bring money into your account.
There are many mobile applications that are actively working each day to acquire more and more customers.
What most miss out on is adding valuable customers who would bring meaningful business for them.
What this means is if you have a BLOG or a YouTube channel that has a steady audience base, you can partner with such applications to bring business.
Source: Google Play Store
Here’s a quick reference image of applications that are based on finance topics.
If you happen to run a blog or site based on a personal finance niche, you can reach out to these people to advertise their product on your page and earn revenue for that.
This can be a good sum of money such as $100 – $500 per month depending upon your popularity and the reach of your audience.
Sell ebooks or guides related to banking
Selling ebooks or guides is one of the most interesting ways to make money from your side hustle as a banker.
These are digital products that provide ample opportunity for scalability and give enough leverage to scale your business.
Some of the best examples of ebook sellers in the banking industry are:
- Credit and creed.
- Financial Modeling and valuation.
- The Federal Reserve and Financial Crisis
- Banks on the brink etc.
You can opt to sell your ebooks or guides on several issues related to the banking industry through several platforms.
These are always the preferred model and best sellers to bring business.
In the above reference image, we can see a $21 ebook that has been sold over 72 times.
This goes to show there is a business to be made selling ebooks in this industry.
Become a data entry operator
Data entry operators are the one job that everyone talks about and there’s plenty of work out there with each day passing by.
This is also suitable for someone who has knowledge of accounts, such as an accountant.
If you look at Fiverr, you will find a lot of people offering the services of a data entry operator online.
We are living in a digital economy and the world is always powered by numbers.
But too many numbers on the plate are always difficult to process on a spreadsheet even for the most prudent business players.
So, in a way putting the data onto one spreadsheet to make it meaningful for proper analysis and interpretation is really relevant.
As a banker, you can take up this side hustle alongside your day job and look to make around $5 – $15 per gig online.
There’s so much you can do besides being a data entry operator.
If you happen to get a job as a data entry operator, you can also look to extend any financial advice that you would have for the business you would be working for.
This can be an additional source of income that will make it relevant for you to bring more business.
Start a Print on demand business
A Print on Demand business is one of the most profitable segments of the business which can bring tremendous returns with time.
This is simply printing out merchandise on demand as per the customers who are looking to get any of the following such as:
- Pillow etc
As a banker, you can simply create an e-commerce site or register on the free Print on Demand platforms to sell merchandise such as
- Redbubble etc.
This is a really valuable business model and is an excellent source of passive income as well.
As you can see that bankers can make around $3 – $17 worth of money selling each piece of merchandise on display over here.
Besides the above, you can definitely sell other things as well which include T-shirts and hoodies too.
This model of starting a side hustle as a banker requires zero investment and is something that involves creativity similar to an artist.
Start a Dropshipping Business
Did you ever dream of setting up your own virtual e-commerce store online?
Dropshipping is another business model which can give good returns and can be a profitable side hustle if done correctly.
What this involves is selling a product online that you have knowledge about and want to make money from.
Essentially, what you are going to do is list items for sale in your eCommerce store online.
Once the products start to sell online, you can let the retailers or manufacturers of the product take care of the shipping and delivery.
What you would earn in the process is earning the commission from each sale of the product.
This might seem simple, but it takes a significant effort to set up the side hustle, especially for bankers who might not have technical expertise.
But, once you have a store ready you can sell the products of your choice and make money in the long term.
Here are some of the top earners who make significant money from their dropshipping business:
|Irwin Dominguez||More than $1 Million under 12 months|
|Kate||Around $30,000 every month|
|Aloysius Chay and Galvin Bay||5 figure earnings in a day|
Become a Virtual Assistant
A virtual assistant is someone who assists and helps in the growth of the business by working from home.
This is a demandable job and requires persistence and consistency in bringing results for businesses.
All of these need a specialized person who knows stuff about how to handle the core functionalities to do a side hustle long term as a banker.
Essentially, there are several nitty-gritty involved in running a business, which has many things to consider, such as:
- Scheduling meetings with clients.
- Marketing services
- Blog Writing
- Managing accounts and affairs of the business etc.
Anyone who wants to be a virtual assistant can earn around $5 – $15 per gig working as a virtual assistant.
Become a petsitter
Are you a pet lover or love to spend time with pets around you?
If yes, then this can be an amazing side hustle job for bankers who love to stay in touch and play along with animals.
Dog sitters are quite common to find these days and this job is going to rise up with increasing demand in the time to come.
People who look to go out, especially during summer are hesitant to do leaving their house because they have a pet in their house.
A dogsitter is someone who takes care of the dogs in the absence of their owner and manages to look after the needs of the dog when they are away.
This is a healthy paying job and requires you to have the physical fitness to do the job dutifully with proper attention.
This can be a really good side hustle to try for men.
It requires a lot of physical activity outside and one needs to stay outdoors to perform the job properly.
Rover offers around $30 – $50 per visit for the dogs and this can earn you some good handy money long term.
Besides dogsitting, there’s also dog walking which can pay you money preferably around $20 per walk.
Be a babysitter
When we have talked about dogs, how can we miss out on babies?
Again, parents are always concerned while leaving their babies away for their duties.
This is kind of a different side hustle for a banker considering it involves different skillset altogether.
If you have got extra time during weekends you can definitely opt to do this job during weekends as well.
Babysitting is a common task that many people love to do especially when you have some experience in handling kids.
The pay rates are normally $50 per hour with an average reported pay rate of around $15.25 per hour.
This can also be a friendly side hustle especially for those who are 18 years old and above too.
Some of the top babysitters are even earning 6 figures in a year with this business and it’s growing with time.
As more and more people are not having time to give to family, hiring a nanny or a babysitter is the best option out there.
This industry is heavily dominated by women while men can definitely take part in this side hustle being a banker.
Become a social media influencer
A social media influencer can be anyone who has something to share that the masses can connect with.
If you are a person who likes to talk about new ideas and interests such as any tool or product which can be beneficial for others, then social media is for you.
Instagram, TikTok, Facebook, and many other platforms are wide open to showcase what you know about.
If you have an interesting idea to share in your community, then people will stick to your idea and will follow what you say.
Brand deals, sponsorships, and partnerships with others can give benefit you by starting a side hustle as a banker.
We have covered 16 Best Side Hustle to start for bankers.
Final Words on Side Hustle for Bankers
We have come to the end of the discussion on side hustles to look for in bankers.
An important thing to understand is that every side hustle comes with an opportunity to give something in return.
If you are not willing to take the much-needed risk and put time, then it’s never going to be easy to get results from any of the side hustles discussed above.
So it’s up to you to decide when you want to take action and start putting efforts to make money from any of the side hustles that we discussed above.
Quick action takers are always the ones who look to hustle hard in life for results.
Are you the first one to do so?
Do let us know your thoughts in the comments section below.