Servers can make bank
As the commenters on Lans’ video explain, the notion that working in service is just a fall-back option or low-paying couldn’t be more wrong.
“People shame me for bartending but I make my rent in 5 hours and work 3 days a week,” one user writes.
The Bureau of Labor Statistics reports that wait staff make a median salary of $29,120 per year. But much of the money that servers bring in is from tips — which often go unreported on their taxes.
There are no exact numbers on how much servers make in tips, but it’s approximated to be $100 per shift, according to staffing platform Adia. If you’re working five shifts a week, that can amount to an extra $500 a week — or $24,000 a year. This would nearly double your $29,000 base salary to $53,000.
Though tech can be a lucrative industry, the median salary for a tech worker is actually less than what a server makes with tips: $43,680 per year, according to employment marketplace ZipRecruiter.
Meet Your Retirement Goals Effortlessly
The road to retirement may seem long, but with WiserAdvisor, you can find a trusted partner to guide you every step of the way
WiserAdvisor matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you've always dreamed of. Start planning early, and get your retirement mapped out today.
Get StartedCorporate layoffs are rampant
Lans is just one of many white-collar workers experiencing layoffs. He didn’t specify the industry he worked in, but he says that he has previously worked in equity trading at a bank and data analytics at a tech company.
It’s been a rough start for the tech industry in 2024. Nearly 50,000 employees have been laid off from 201 tech companies so far this year, according to tracking website Layoffs.fyi. Reuters reports that these companies include Google, Amazon and Twitch, with sources explaining that focus on AI as the main reason.
If that means people can’t rely on the tech industry for job security, they may have to be more flexible in their careers, like Lans.
“My current situation is not ideal, it’s not where I saw myself, it’s not what I wanted out of these years of my life,” he says. “But I’m trying to make the best of it.”
Even if you think it’ll never happen to you, it’s a good idea to build up a good cushion in case of unexpected job changes. A robust emergency fund (or secondary source of income) That can be saving up for an emergency fund while you’re employed or finding a second job or passive income.
Sponsored
Follow These Steps if you Want to Retire Early
Secure your financial future with a tailored plan to maximize investments, navigate taxes, and retire comfortably.
Zoe Financial is an online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The best part? - there is no fee to find an advisor.