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Freelancing Versus Full-Time Jobs

Freelancing Versus Full-Time Jobs

Independent contractors, self-employed individuals, and freelancers contribute to one-third of the emerging economy in the US. These individuals enjoy greater control and autonomy over their work.

Pros of Freelancing  

1. You Make Your Own Hours

While employees doing full-time jobs have a standard 9-5 daily routine and are required to put in 40 hours per week, freelancers can make their own hours. They have the freedom to prioritize tasks, make their own time, and work at their own pace.

2. Control over Decisions

As a freelancer, you have greater control over decisions. Whether it's deciding on a marketing strategy or adding a new service, you call the shots! Compared to that, employees can only control as much as their role allows them to.

3. Greater Visibility

As a freelancer, there are increased chances of your work being highly visible and proudly showcased. Whether you’re offering graphic design services, content writing, or SEO marketing, it will be your name that shines in the industry.

In comparison, employees can only manage to have their names highlighted in their department (and in rare cases, in public) due to the large number of departments and employees in a single company.

 

4. You Decide Your Office

As a freelancer, you no longer have to spend hours commuting to your workplace; you can set up your own work space.

You can choose to work from a café, set up a workspace in your home, or share a co-working space; you’re the boss, so you get to decide!

Cons of Freelancing

1. Income and Benefits

As a freelancer, your entire income depends on your clients, which means that you may end up suffering a loss if the client's delays or bails on your payment. On the other hand, employees receive a scheduled monthly payroll and can rely on a consistent paycheck.

What’s more, some employers provide various lucrative benefits such as insurance, gym memberships, provident funds, and others that you may not get as a self-employed individual.

2. No Guarantee of Work

The economy and market regularly go through recessions, which may leave you without work (and pay) for months. With demanding bills, fees, and other necessities, you may also need to take some loans that can leave you in debt. Additionally, freelancers aren’t protected under the various US employee relief packages.

Keep these factors in mind before your big decision to freelance!

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