11 Best Side Hustles for Finance Professionals

Earning potential: $20–$40 per hour

What it is and how it works: As a bookkeeper, you’ll help businesses record and maintain their financial transactions, including their revenue and expenses (e.g., payroll). You’ll also help them stay compliant with tax and finance-related rules and regulations.

What it takes: To do this job, you’ll need to be detail-oriented and comfortable using accounting software, such as QuickBooks Online. You should also be a great problem-solver; you might encounter errors and need to quickly devise a plan to fix them.

How to get started: To become a freelance bookkeeper, look for work on online job boards, including:

• FlexJobs (a great source of remote jobs)
• Indeed
• LinkedIn

You can also search on freelance job platforms, such as Upwork and Fiverr.

While it isn’t required, you may want to earn a bookkeeping certification, such as the one offered by the National Association of Certified Public Bookkeepers (NACPB). This will make it easier to land your first few clients.

Earning potential: $15–$25 per hour

What it is and how it works: A tax preparer helps their clients (who may be individuals or businesses) prepare and file their taxes. They may also advise their clients on how to maximize their returns (e.g., with write-offs and tax credits) and minimize their liabilities.

This side hustle has flexible hours and can be done remotely.

What it takes: If you want to work in tax preparation, it’s important to be familiar with tax law. You also have to be meticulous and organized. Being tech-savvy is a plus, as e-filing is much more convenient for preparers and their clients than paper filing.

How to get started: If you want to work in tax prep, you need to pass a suitability test and apply for a Preparer Tax Identification Number (PTIN) from the IRS. After that, you’ll need to get an electronic filing identification number (EFIN) to become an authorized IRS E-File Provider.

Depending on your credentials, you may need to acquire a license if you plan to operate in one of the following states:

• California
• Connecticut
• Illinois
• Nevada
• New York
• Oregon

Do your research and make sure you meet all the requirements for your state. Once you do, you’ll be ready to take on your first job.

You may already have a base of potential clients. Many of the people you work with for your main job probably dread filing their taxes and would love to have the help of someone they know and trust.

Earning potential: $20–$50 per hour

What it is and how it works: As a payroll manager, you’ll calculate and process wages, taxes, and deductions for a company’s employees. You must complete this accurately and punctually, in compliance with all the relevant regulations.

What it takes: You’ll need to be familiar with payroll software, such as Quickbooks Online Payroll and Gusto. You also have to be highly detail-oriented—one mistake could cause major issues for your client.

How to get started: If you have a bachelor’s degree in accounting, finance, business, or a related field, you can start applying to payroll management positions. These are often full-time roles, but you may be able to land part-time gigs for smaller companies on sites like FlexJobs.

If you want to stand out from the competition, consider taking the exam administered by the American Payroll Association (APA) to get your Certified Payroll Professional (CPP) certification.

Earning potential: $30–$100 per hour

What it is and how it works: Forensic accountants use their skills to investigate financial transactions and hunt for discrepancies that suggest fraud or misconduct. They are often called upon to testify in court about their findings.

What it takes: Forensic accounting is a great side hustle for auditors and other finance professionals who possess strong analytical skills. You’ll need to have a keen eye (and, ideally, a fair amount of work experience) to succeed.

How to get started: To provide forensic accounting services, you must be a Certified Public Accountant (CPA); the requirements to become one vary by state.

Assuming you’re already a CPA, you can also consider becoming a Certified Fraud Examiner (CFE) through the Association of Certified Fraud Examiners (ACFE). This will show potential clients that you have investigative expertise and take your job seriously.

Earning potential: $35–$45 per hour

What it is and how it works: Accounting software can be frustrating and unintuitive, and there’s a market for experts who can teach novices how to use it. You may also have to help your clients set up and configure their software, in addition to troubleshooting issues and providing other technical support.

What it takes: First and foremost, you should be a master at using accounting software systems. Training people also requires strong communication skills; essentially, you’re a teacher and your clients are your students.

How to get started: Software training doesn’t require any specific certifications. You may be able to find work on freelance marketplaces like Upwork, but you’ll probably be more successful if you tap into your network. Try asking around and reaching out to potential clients directly.

Earning potential: $50–$150 per hour

What it is and how it works: Financial consultants help their clients (who are often small business owners) improve their operations.

Depending on what businesses you consult for, you may advise your clients on how to plan their budgets, minimize their tax burdens, manage their assets and investments, or keep their businesses financially healthy in other ways.

What it takes: If you have strong communication and analytical skills and an understanding of the trends in your chosen industry, you’re already on your way to becoming a financial consultant. To land high-paying work, you’ll need a solid reputation, making this a good side hustle for mid- and late-career finance professionals.

How to get started: Financial and business consultants usually focus on a specific area, such as risk management or tax planning. Once you’ve chosen your specialty, you can decide whether you want to get any additional qualifications, such as the Chartered Financial Analyst (CFA) certification (if you don’t already have it).

To land work, create a website and put out feelers on your professional network.

Earning potential: $30–$300 per hour

What it is and how it works: If you become a financial coach, you’ll help your clients set and meet goals, such as coming up with a budget or savings plan. Alternatively, if you’re interested in guiding people academically, you can become a finance tutor (e.g., by helping fresh graduates prepare for the Securities Industry Essentials exam to become licensed stockbrokers).

This is a job that lends itself very well to a part-time, flexible schedule. If you like, you can meet with your students for just a couple of hours each week, and you may be able to do so remotely (e.g., via Zoom).

What it takes: As a financial coach or tutor, your clients will be individuals—not businesses—so you’ll need to have empathy and patience. Strong communication skills are also a must. You’ll need to simplify complicated financial concepts in a way that your students can understand, regardless of how financially literate they are (or aren’t).

How to get started: To find people who are in the market for financial coaching, your best bet might be to pitch your services to your existing clients (essentially upselling them). This will be especially effective if you’re a financial planner or portfolio manager.

As far as tutoring goes, there are several online platforms that you can use to find students, including:

• Superprof
• Wyzant

You can also put flyers up around local university campuses (check ahead of time to make sure that’s allowed).

Earning potential: $40–$60 per hour

What it is and how it works: This is essentially a larger-scale version of tutoring. You’ll give lectures and hold discussions on finance-related topics, and afterwards, you’ll chat with the attendees, answering their questions and providing specific advice.

What it takes: Aside from the financial expertise that you already possess, you need to have strong public speaking skills. It helps to be outgoing and to have prior teaching experience. If you ever worked as a TA in school, this job will feel somewhat familiar.

How to get started: If you’re interested in holding seminars or workshops, you’ll need to have a well-established professional network. It’s okay to start small—if participants enjoy your seminar, they will want to come to the next one (and maybe even bring a friend or coworker!)

Consider recording your workshops and uploading them to online video platforms or social media sites to reach a larger audience. If you go down this route, you can also create a (paid) online course and upload it to an educational platform, such as:

• Skillshare
• Teachable
• Udemy

Earning potential: $125+ per hour

What it is and how it works: A Chief Financial Officer (CFO) oversees a business’s finances and provides strategic guidance. This is often a full-time position, but some start-ups and small businesses hire virtual, part-time CFOs (which means it’s sometimes possible to serve in this role for more than one business at once).

This role can be very lucrative, and gives you the opportunity to provide high-level expertise from the comfort of your home without being tied to a full-time contract.

What it takes: Becoming a virtual CFO requires years of experience in financial management and leadership. In addition to being skilled and knowledgeable, you need to be comfortable assuming quite a bit of responsibility, as the financial health of the business will ultimately rest on your shoulders.

How to get started: To land your first client, you’ll need to sell your financial expertise. Make sure you have a strong online profile by creating a professional website (if you don’t already have one) and brushing up your LinkedIn profile.

Virtual CFOs often set their own hourly rates, so do a bit of research to see what other people in comparable positions are charging. Starting out lower may help you land your first job, but don’t undervalue your time.

Earning potential: $20–$30 (plus a commission)

What it is and how it works: Someone who sells insurance is known as an insurance agent—essentially, a salesperson. Agents help insurance companies bring in customers by reaching out to potential clients, assessing their needs and recommending products, such as life insurance or annuities.

What it takes: You’ll need to have experience in risk management and potentially financial planning, as well as knowledge of the insurance industry and all the regulations attached to it. For obvious reasons, if your day job requires interfacing with other insurance professionals (e.g., underwriters, brokers, etc.), you’ll have a leg up here.

Since you’ll be selling products, you’ll also need strong interpersonal skills to succeed. This is a good side gig for finance pros with sales or marketing experience.

How to get started: You need a license to sell insurance products, and there are different categories of licenses for different types of insurance. The exact requirements vary depending on where you live.

If you’re not licensed, start by looking up the insurance license requirements by state on the National Insurance Producer Registry’s website.

Earning potential: Highly variable

What it is and how it works: Investing refers to buying assets that you believe will grow in value or otherwise generate money over time. This is something that you’re hopefully already doing, even if that just means you’re paying down your mortgage (a form of real estate investing) or putting money into a retirement account every month.

There are many different assets you can invest in, including:

• Stocks
• Bonds
• Real estate
• Commodities
• Cryptocurrency (a new and risky asset class)

What it takes: As you probably know, investing is a smart move for almost everybody, not just finance professionals. It’s less a side hustle and more an aspect of your overall financial health.

That said, as someone with an above-average knowledge of the finance world—and, presumably, strong research skills—you might be well-positioned to take a more active role in managing your investments than most people do, particularly if your day job involves researching and evaluating securities or other assets.

(Note that “taking an active role” doesn’t necessarily mean buying and selling frequently; this depends on your chosen investment vehicle, but investing is generally safer and more lucrative when you adopt a long-term outlook.)

How to get started: Getting started with investing means opening an account with a brokerage, at least if you’re planning on investing in the stock market. There are dozens of different brokerages out there, and as an industry professional, you’re well-equipped to sort through and evaluate them.

Once you have your trading account set up, you can set a budget and get started. Exercise good judgment about how much money you plunk down. Investing always means assuming at least a little risk, and even seasoned finance pros can lose money, particularly in the short term.