These individuals, referred to as “slashers” due to the “slash” between their job titles (communication manager/yoga instructor), are part of a global phenomenon where people supplement their main source of income for various reasons. American author Marci Alboher coined the term in 2007.
Conducted towards the end of June among a booster sample of 943 individuals as complementary research for the annual Old Mutual Savings and Investment Monitor, the survey studied the habits of working South Africans. Twenty-four percent of respondents indicated that they earned additional income by doing something that was vastly different from their current job. An additional 13% said they earned more money by doing something similar to their current job.
Lynette Nicholson, research manager at Old Mutual, says it is typically entrepreneurial, go-getters who become slashers, in part to ensure greater job security and because their income may not be coping with growing expenses.
The South African economy recently entered a technical recession with some corporates cutting staff and many households feel the pinch of a higher effective tax burden.
One of the slashers who participated in the research project was Matilda Harris, a printing business manager and water aerobics instructor.
“The reason I have two jobs is the economy has become very tight and I needed a bit of extra income,” she says.
Having two jobs also means that if the printing business does not make enough money her extra job can help pay the bills and vice versa. Any extra money will be saved, but because of economic pressure this does not always happen, Harris says.
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