Top 20% of Urban Company partners earn 50% more than entry-level IT staff

economictimes.indiatimes.com:

Urban Company said in a report.

As per the firm’s H2 2023 Earnings Index, service partners who provide over 30 services per month earned a monthly net income of Rs 33,469.

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In calendar year 2023, the Tiger Global-backed company provided loans totaling Rs 31.16 crore to service partners through third-party non-banking financial corporations (NBFCs). These loans included personal loans and service kit loans.

“This is crucial as this allows our service partners to be a part of a formal economic environment that protects them from getting into debt traps with third parties,” the company said in the report.
Urban Company primarily functions within two major categories: beauty and wellness, which includes salon and spa services along with laser hair reduction; and home repairs and maintenance, comprising tasks like plumbing, electrical work, carpentry, cleaning, pest control, appliance repair, and painting.

The services in which the partners earn the most are appliance repair and salon services, with AC repair and servicing being particularly lucrative.
There has been a consistent increase in the demand for freelance jobs in the country, offering individuals more flexibility compared to traditional organised employment. According to Urban Company, it has