Sydney lawyer on $15k a month claims second job is ‘necessary’

A successful lawyer earning $180k says it is not enough to survive in Sydney. Which is why he had to find a way to double his income.

Samuel Li earns about $180,000 a year working as a successful lawyer, but that’s still not enough to survive in Sydney.

With two young kids and a mortgage, the 32-year-old says “doing something on the side” is a necessity.

Mr Li decided he needed a second job and it was a smart decision.

Since starting his media company New Impressions 18 months ago, Mr Li earns more from that business than he does using his law degree.

He pockets about $15,000 a month — or $180,000 a year, which matches his annual salary as a lawyer — but that amount can rise on a good month.

“My day job is very stable but when we have big events and big sponsorships, what I make from my side hustle can go up. They’re very similar, bringing in about $15k each, a month,” he said.

Samuel Li insists a second job has given him the financial freedom to travel and spend more time with his children. Picture: Supplied

WHY HAVE A SIDE HUSTLE?

Although he’s an executive, earning well above minimum wage, Mr Li is among a growing group of workers taking cost-of-living pressures into their own hands.

“Of course, with big mortgages in Sydney, having an extra source of income is a big help and it allows me to have freedom to not be so worried about my billable hours as a lawyer,” Mr Li explained.

Rising living costs and stagnant wages have sent even the most educated and qualified scrambling to lock in multiple jobs.

“I think it’s just about having a better sense of security, because I’m not so reliant on any one source of income,” said Mr Li.

The media platform gave Mr Li what so many young people deem necessary nowadays: flexibility and in a worst-case scenario, a Plan B.

“If I decided to go overseas, I could be in Europe, I could be in China and still be writing. So it gives me a lot of freedom to travel,” he said.

Mr Li has doubled his annual salary. Picture: Supplied

TWO JOBS TOO MANY?

Last year, Australia saw a 3.3 per cent increase in the number of secondary job holders.

That’s more than one million clocking on to two workplaces.

If that figure continues to rise, working multiple jobs may be the new norm.

International speaker and podcast host Ruby Lee has even managed to make a career out of helping out with other people’s side hustles.

If you’d met her 18 months ago, Ms Lee would have smiled warmly and introduced herself as an executive recruiter.

Now, she’s a full-time side hustle coach.

“I believe side hustles are the future of work,” she said.

After coaching thousands of side hustlers around the world — building her own six-figure business in the process — Ms Lee predicts the ideas of ‘side hustle’ and career won’t be mutually exclusive in the future. “It’ll just be a naturally accepted part of how we live, how we share our talents and how we earn our living.”

But it’s not for everyone, she warns.

“Having a job is a necessity for most of us to survive but the side hustle is something that’s born from purpose. And not everyone is cut out for the side hustler’s lifestyle. While it may be sexy to say ‘I have a side hustle’, the reality is you’ll be burning the midnight oil, joining the 5am club or sacrificing your favourite Netflix series for the season.”

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Ruby Lee has built a highly successful career around coaching other side hustlers to achieve their own version of freedom. Picture: Supplied

‘YOU’LL BE REPLACED TOMORROW’

While extra cash is great, plenty of side hustlers insist there’s more to it than that.

“I always say ‘You’re as good as four weeks’ notice,’” said Mr Li. “Maybe you did nothing wrong, but just a change in the economy and you’ll be replaced tomorrow.”

It’s this fear of potentially being without cash flow that keeps an entrepreneurial bonfire burning bright in the minds of millennials. And it’s a torch they plan on passing down to future generations.

Mr Li said his son was already onto his first business venture.

“I’m trying to make my son makes money now,” joked Mr Li of his five-year-old. “A little lemonade stand; I said, ‘Son, just sit here and smile at everybody.’”

Samuel Li's wife and their five-year-old son and three-year-old daughter. Picture: Supplied