139 - How Much $ Do Remote Workers Make?

Hello, Connectors 😎

The promise of remote work is "work from anywhere." 

But how much are remote workers getting paid?

Today, we're digging into the results of the first Remote Work Net Worth Survey.

Plus:

• 🛫 How to work remotely abroad

• 🏝️ Rent-free, limitless travel... for ~$90

• 🛜 10 websites for remote work beginners

And more!

Let’s jump in:

💰 How Much $ Do Remote Workers Make?

🥅 Net Net

• ~$9,050,000.00 remote worker net worth aggregated

• 32 professionals completed the Remote Work Net Worth Survey

💰Net Worth

• 56% of remote workers reported a net worth of +$100,000

• 25% of remote workers reported net worth of +$250,000

💸 Income

• 38% of remote workers earned +$10,000/month

• 3% earn over $50,000/month

🗺️ Countries Represented

The US was the most heavily represented country in this survey, with 56% of the respondents being from the United States.

After that it was:

• Netherlands

• Ireland

• Canada

• India

• Singapore

• Bulgaria

• Netherlands

• Germany

• Spain

• France

• Kuwait

🧑‍💻 Net worth by role

Top 10 roles by net worth:

• CEO

• Consultant

• Software Engineer

• Accoutant

• Software Engineer

• Customer Success Manager

• Marketing Manager

• Designer

• Business Development

• Customer Success Manager

One observation is the variance in income from folks with the role of CEO/Entrepreneur. Net worth sat at both poles of the spectrum, indicating the high risk/high reward game of entrepreneurship

Compare that to the Account Manager which sat firmly at the bottom third, or Software Engineer (at the top third).

Conclusion

I'm thrilled to put together this first Remote Work Net Worth survey. I'll publish the next one in the first half of 2024.

Besides trying to increase the sample size, I'll add an additional question around full-time employment vs. self-employment.

Haven't taken the survey yet? Click this link to complete it now (~2 minutes).

🔎 Remote Spotlight: The Online Business "Introvert" Who Discovered the Freedom Of Remote Work

My favorite part of Jessica Moe's story is how she "stumbled" into remote work, via a series of iterations and experiments until she found her niche. Here's Jessica:

Tell us about your remote work journey.

I was working a traditional in-office and laboratory role, but knew I wanted more.

Over time, this business as well as some other failed attempts eventually culminated into what I do now - helping visionary entrepreneurs manage the backends of their online businesses so they can spend more time doing what they love!

What's your number one piece of advice for someone currently looking for remote work?

Stick with it: Chris offers so many resources and help for finding remote roles. If you're committed to trying this lifestyle, my advice is to surround yourself with other people who are doing it successfully.

If everyone you know has a traditional in-office job, it will still seem impossible.

If you're surrounded with other people who work remotely, then it normalizes it and makes it seem so much more attainable.

How do you manage your work/life balance?

One of the biggest tradeoffs for me personally is having less in person connections with coworkers and the world around me.

I'm fairly introverted, so I like that with working remotely and consulting, I have more control over the volume and frequency of meetings and calls.

I have to make more of an effort to get out of the house, meet people, have conversations, and have that human connection. My husband can probably attest to the fact that if I am cooped up in my house all week, I'm probably not being my best self :)

How has remote work changed your life?

In short, much more freedom.

• Close my laptop and go for a walk mid-morning

• Book appointments in the middle of the day

• Freedom to start my day when I want

• Take lunch when I want

Having the ability to work remotely has given me so much more flexibility in being able to create the perfect schedule for me and my wellbeing.

Looking back, if there's one thing you could have done differently, what would that be? 

I wish I made the switch to remote work earlier... but everything worked out with perfect timing.

Each step had meaning along the way and opened up new opportunities. If I had to pick one thing, I would say I wished I had had more patience.

In the world of “overnight successes,” it's easy to get sucked into the expectation that everything should happen quickly, easily, smoothly. Just understanding that it's a process, it takes time, it takes learning, meeting new people, finding new tools and processes.

Where can people go to learn more about you and your work?

Jessica Moe on LinkedIn

What’s your favorite movie?

🔧 Remote Work Tool: Noad Exchange

The tools, technology, and guides that enable work from anywhere, living abroad, while accelerating your career.

Today's Remote work tool is Noad.

Did you know you can get rent-free, limitless travel with a Noad membership?

I know, I know... too good to be true, right?

But here's how it works:

1. Sign-up for Noad's home exchange network

2. List your home for fellow nomads and remote workers

3. Unlock other members' homes in 25+ countries and save 90–95% in rental fees (you just cover the cleaning cost)

Plus, sign-up using the invite code THECONNECTION and you'll get 3 extra credits to start with on top of the ones included in your membership -- that's 3 more free nights anywhere in the world 😍

Sign-up for Noad today and use THECONNECTION referral code.

Conclusion

That’s a wrap.

On August 29th, here’s what we’ll cover:

• 🐀 The 5 finance habits keeping you stuck in the rat race

• 👩‍💻 How to use remote work to get unstuck

• 📜 10 remote work job boards

...and more!

See you next week 👋

📊 Stats from last week's newsletter:

• 👋 Readers: 1,662 (+13)

• 📧 Open rate: 50.8% (+9%)

• 🐁 Click rate: 4.9% (+88%)

• 🔗 Most popular link: 5 countries that fast-track dual citizenship for your kids

Here are 3 more ways I can help you with remote work: