Surveys for money online are an excellent way to earn a little extra…At least that’s what the adverts say.
But in reality, surveys are no longer a lucrative business. In the digital era, plenty of data can be obtained in easier ways than people filling in surveys, so the incentives just decrease! Ultimately, filling in surveys for money online simply isn’t a viable option anymore, and here’s why:
When we say the pay is low, we mean it. Completing surveys for money online does not come with a generous remuneration package; in fact, the compensation is laughable. There’s no way you can quit your job and take up filling in surveys to make a living.
Think about it from the perspective of survey companies. They make money online by designing surveys and quizzes on behalf of companies who pay them. To run a survey, they incentivise participants with nominal amounts.
The difference between what they earn and the amount they spend is their profit. Survey companies want to maximise their profits, and the easiest way to do that is to keep costs low. Therefore, payments to participants are tiny.
On the surface, filling in surveys for money online might seem like a quick and easy way to work. However, you’d need to complete a lot of surveys to make even a minimal amount of cash, and that would take a substantial amount of time.
Survey companies present participants with what seems like an easy way to earn money online, but the reality is that they’re not giving anything away for free. The more in-depth a survey is, the more money the company running it can make. Data-rich surveys require participants to wade through lots of questions. Therefore, the surveys you complete end up being very time-consuming.
As an example, let’s say you’re paid £1 per survey and they take around 15 minutes each, at best you’re looking to be paid the equivalent of £4 an hour, at worst £2 (when you factor in time finding and applying to other surveys to participate in. There’s plenty of other viable online working options with higher take-home than that!
Filling in surveys as a way to make money online is something of an old relic. In the early days, it was possible to earn some extra pocket money with this approach, but as time goes on – and the number of potential participants rises – the ability to rake in the cash has all but evaporated. In short, it’s very 1998!
There are far better online roles out there
The proliferation of online work has accelerated to such an extent that there are now plenty of roles you can do from home that pay just as well as a regular 9-5. You just need to get out there and find them!
If you want to earn money online, there are far better ways to do it than completing surveys. Check out our guide to decent remote jobs you can do to make money online in 2019 and 2020.