Written By Melanie Lockert
Although a career as a professor is challenging, rewarding, and fulfilling on different levels, your income can vary. Factors like working as an adjunct professor versus working full-time on a tenure-track impacts your earnings, as does your field of study and location.
According to the Bureau of Labor Statistics (BLS), post-secondary teachers’ median pay in 2020 was $80,560. However, The American Federation of Teachers 2020 survey report notes that 47% of college instructors hold part-time positions. About 25 percent of respondents made less than $25,000 and 35.3% earned between $25,001 and $50,000.
On top of low wages, being a professor requires an advanced degree, driving up higher education debt in tow. According to the National Education Association (NEA), educators borrowed an average of $55,800. That number might be much higher depending on your degree level and whether you studied at a public or private institution.
To avoid having these statistics derail your financial and life goals, consider exploring side hustles for professors for extra money.
1. Freelance writing
If you’re a professor it’s likely you have moderate- to expert-level skills in writing and expertise in a specific field. Leverage those skills and your know-how through freelance writing.
Through freelance writing, you can get paid to write articles or blog posts for a niche website based on your field of study. Given your degrees and your experience as a professor, you can market and establish yourself as an expert.
You might earn several hundred dollars per assignment, though rates range from $25 to $100 per blog post or up to $1 per word or more for an article. Find “freelance writing” jobs on LinkedIn, check out Twitter for editors posting calls for pitches, and cold email websites that you think might be a good fit for your experience.
2. Tutoring
When college students have a question in class, who do they turn to? Likely, you. A lucrative side hustle is offering that same service through one-on-one tutoring. You can teach English, Math, or other subjects to students who might need extra attention with a particular subject matter.
Given your diverse experience and knowledge, you might be able to earn $14 to $60 per hour or more. Explore tutoring side gigs on the following websites:
3. Consulting
Depending on your field of study and expertise, you can leverage your professional skills by offering consultation services for businesses, nonprofit organizations, or government entities. For example, if you’re a business, psychology, sociology, or marketing professor you could help organizations gain deeper insight into their customers, clients, business strategy and more.
If you’re a history or language professor, a great side hustle is proofreading or fact-checking film or TV scripts for accuracy. As a consultant, you’re essentially a small business and can set your own rates. This gig can help you earn $25 to $80+ per hour.
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4. Podcasting
The ability to talk for hours about specific subjects in academia is a soft skill that many professors have mastered. Podcasting leans on this skill set. It’s not a surefire way to make extra cash quickly, it’s a long-term plan to build your reputation, credibility and expertise over time.
One professor who’s done this well is Andrew Huberman of The Huberman Lab podcast. Huberman is a tenured professor at Stanford University School of Medicine and discusses complex neuroscience topics on his podcast.
Once you build a following, you can attract podcast sponsorships and advertisers or earn through affiliate marketing. You can also ask your listeners to fund the podcast through BuyMeaCoffee or Patreon. How much you can earn varies widely from a couple of hundred dollars to several thousand dollars.
5. Public speaking
When it comes to great side hustles for professors, another option is public speaking. Professors are lecturers at heart. You can get paid for speaking on your areas of expertise at conferences, business workshops or special events.
Keep your eyes peeled for speaker requests or applications on social media and through professional networks and organizations. Make sure you have video snippets of your speaking engagements on a YouTube channel. This channel acts as a speaking portfolio and can be used as a marketing tool to help you get booked.
Start pitching organizations, be open to calls for pitches for events, and share with your network that you’re open to speaking opportunities. You could earn $500 to $10,000 or more per session, depending on your experience, the topic, the event, and the client’s budget.
6. Tour guide
Your passion for teaching and connecting with others can translate into being a fantastic tour guide. If you live in a major city that attracts tourists, you can offer your unique experience and insight about the city and earn money on the side.
As a tour guide, you’re essentially educating tourists about the history of the city, local landmarks and points of interest. You can earn close to $22 per hour and can earn $60+ in tips, according to Indeed.
Although it might be one of the more unconventional side hustles for professors, it can be more gratifying than you think. Google [Tour Guide + Your City] to find tour companies in your area, offer special experiences through Airbnb or look at tour guide opportunities through sites like Indeed.
7. Teach workshops
You have tons of teaching experience so why not teach more, but in a different way? One of the top side hustles for professors is teaching workshops. Think of something that you could teach based on your experience and expertise. You might be able to teach workshops at your local library, community organizations, or businesses in your area.
Many libraries offer stipends for workshops or you might be able to set your own rates. You could earn several hundred to thousands of dollars teaching workshops depending on the location, size of the audience. You might also consider creating your own online course or workshop through a platform, like Udemy.
When professor side hustles make sense
Full-time professors with generous salaries might not need to take on a side hustle. But if you have six-figure debt from a Master’s degree or Doctorate degree, a side hustle can help you get out of student debt faster (though forgiveness might be a good option, too). If you’re part of the group of professors who fall under the lower income camp, a side hustle can be a much-needed income boost.
Earning more through side jobs can help you increase your income, pay down debt, and have more stability and security. Of course, be mindful of the requirements and regulations of your primary job before taking on a side hustle or second job.
Some colleges may have clauses about taking on outside work or work that’s considered a “conflict of interest”. Before taking on any side hustles, make sure you get the green light from your main employer, first.
The bottom line
Working as a professor can be rewarding, but depending on your situation, you need to identify additional income streams. These seven side hustles for professors, let you leverage your existing skills into extra income.
Although you can go the gig economy route — selling goods on Etsy, renting a room on Airbnb, or driving for ride-share apps — the list, above, are the best side hustles that are catered to your skills and experience as a professor.
