Independent contractors engage in work which can be divided into two main categories: gig/task work, which is typically short duration and input focused, or project based where the freelancer works with an organisation to achieve an end goal or output. Therefore, while gig work is incremental and where the contractor is usually only responsible for the provision of their own service, project work is typically more continuous and engaged with the organisation as the contractor tends to work with employees to ensure that the performance targets for the overall project (and not just the freelancer’s own input) are achieved.
The Project Economy
“To end up in this kind of role you need to be well-skilled and experienced. The ability to be able to join a start-up in a part time role at a reasonable cost is a big benefit to these smaller companies. The start-up or SME benefits, from the experience of a very senior person it’s great to be able to help steer a business without having to run it, so I think this needs to be recognised... I find one becomes very heavily involved with the team and they benefit from this.”
Quote from Respondent
The project economy typically entails the more dynamic and high value-added component of the overall economy involving activities such as innovation, scaling of business, new ventures, and the adoption of new technologies. These encompass both corporate enterprise as well as entrepreneurial start-up and scaling by SMEs.
Our survey is predominantly drawn from high-skilled contractors. 93% of the participants in our survey are in managerial, professional, high-tech, and associated professional occupations, or categorized as Standard Occupational Classifications (SOCs) 1-3. 86% of them engaged in the project economy while 14% work on a ‘task’ or ‘gig’ basis. However, what is important to note here is most respondents were high skilled and high-paid.
Gender Split
The project-based contractor is predominately male 78% while task/gig sector has a higher percentage of females 34% it is still male dominated. There has been a slight increase 3% in the percentage of females engaging in both project and gig/task work since 2023.
Age
Contractors in project-based work tend to be older than those completing gig/ task-based work. 52% of project contractors are 50 years of age or older, with a mean age of 49 years. 34% of gig/task workers are aged 50 or older with a mean age of 44 years.
47
2022
46
2023
44
2024
Average Age of Task/Gig-Based Contractors By Year
50
2022
50
2023
49
2024
Average Age of Project-Based Contractors By Year
Education
What Professional Contractors are Earning
Amongst high skilled contractors in managerial, professional, high-tech, and associated professional occupations, those who are engaged on a project basis are paid roughly €603 per day up from €589 in 2023 with high-skilled contractors hired on a task/gig basis earning €542 per day up from €528.
In terms of annual earnings, independent professionals working in the Project Economy earned an average of €132,600 per annum, almost (11%) more than similarly skilled professionals working on an ad-hoc task or gig basis whose average earnings came in at €119,634 per annum.
Job Satisfaction
Contractors working on projects, when asked about their level of satisfaction with seven key elements of their job and working life, scored higher on every count than contractors with gig/task-based roles. The work itself gained the highest satisfaction from the project-based contractors 85%, compared with 80% for task/gig contractors. 79% of project workers reported that they were satisfied with their current life in general compared with 67% for task/gig contractors.
Satisfaction with the rate of pay has declined considerably since 2023, when 81% of project workers expressed satisfaction, this has dropped to 70% in 2024 results. Similarly, task /gig workers also reported a drop in satisfaction with the rate of pay from 72% in 2023 to 62% in 2024. Task/gig contractors reported a significant drop of 17% in the satisfaction rating of their remote working options from 66% in 2023, to 49% in 2024.
Wellbeing
The well-being for both Project-Based and Task/Gig-Based Contractor groups is high with project-based contractors expressing a lower burnout rate at 14% than task/gig workers at 24%. Task/gig workers experience some loneliness recorded at 24% in 2024, while a lower rate of loneliness 22% was experienced by project-based workers, both groups experienced less loneliness than they did in 2023.
LOOKING TO THE FUTURE
Confidence Index - Contracting Sector
Both groups of contractors remain positive in outlook towards the contracting sector in the next 3-5 years. Project-based contractors have a confidence index score of +33 down from +34 in 2023, while task/gig-based contractors have a score of +17 down from +22 in 2023. While both scores have dropped the project-based workers are more positive about the future of the contracting sector than the task/gig workers.
| Project-based contractors | Task/Gig-based contractors | |
| 2024 | +33 | +17 |
| 2023 | +34 | +22 |
| 2022 | +34 | +38 |
| 2021 | +33 | +20 |
+33
Contracting Sector
Project-Based Contractors
+17
Contracting Sector
Task/Gig-Based Contractors
Confidence Index - Irish Economy
As project-based work is predominantly in the innovative and transformative side of business, which is part of economic growth, independent professional contractors engaged in this type of work get an advance insight into the growth of related activities of businesses. Therefore, their outlook on the economy is of particular interest. Project-based high skilled contractors expect the Irish economy to perform better in 2024 than it did in 2023, with a confidence index score of +19. Task/gig contractors are feeling much more optimistic than last year with a confidence index score of +7 a real show of optimism when compared to their outlook for 2023 which had a negative confidence index score of -9.
| Project-based contractors | Task/Gig-based contractors | |
| 2024 | +19 | +7 |
| 2023 | +13 | -9 |
| 2022 | +31 | +40 |
| 2021 | +12 | -14 |
+19
Irish Economy
Project-Based Contractors
+7
Irish Economy
Task/Gig-Based Contractors