{"id":5309,"date":"2020-03-30T07:00:08","date_gmt":"2020-03-30T11:00:08","guid":{"rendered":"https:\/\/www.freelancinggig.com\/blog\/?p=5309"},"modified":"2020-03-29T22:36:39","modified_gmt":"2020-03-30T02:36:39","slug":"is-freelancing-better-than-full-time-jobs","status":"publish","type":"post","link":"https:\/\/www.freelancinggig.com\/blog\/2020\/03\/30\/is-freelancing-better-than-full-time-jobs\/","title":{"rendered":"Is Freelancing Better Than Full-Time Jobs?"},"content":{"rendered":"

Whenever freelancing<\/a> is talked about, one of\nthe most common questions many new and aspiring freelancers may have is whether\nit is better than full-time jobs? In this blog post, we address<\/a> this question\nin detail so that you can have a clear response to ‘is freelancing<\/a> better than\nfull-time jobs’ the next time someone asks you.<\/p>\n\n\n\n

As is the case<\/a> with everything, there are no clear answers. Freelancing CAN be better than full-time jobs<\/a> for some professionals, but not so much for the others. After all, both kinds of employment have their own advantages and disadvantages.<\/p>\n\n\n\n

Freelancing may be better than full-time jobs as a career option for you if you have the discipline to work by yourself, are comfortable with financial uncertainties, are interested to scale your operations, and are an introverted individual by nature.<\/p>\n\n\n\n

  1. Working for Yourself<\/strong><\/li><\/ol>\n\n\n\n

    The most easily distinguishable factor of\nfreelancing is that you do not have one person watching your every move and\ndecision. You are your own boss in the sense that you decide when to work and\nwhen to not. Granted, there may be times when you have no choice but to take up\nany project available, but the likelihood of such events reduces over time as\nyou build your brand equity.<\/p>\n\n\n\n

    In most cases, freelancers are almost NEVER\nunder a pressure to accept a project they do not think is worth their time. If\nyou have a potential client who is trying to lowball you, you could always\npolitely refuse it. After all, your time is precious and others need to respect\nthat.<\/p>\n\n\n\n

    Unfortunately, for full-time employees,\nthey have no choice but to perform whatever tasks they are assigned regardless\nof how mind-numbing they are. Employees at large companies such as Tata\nConsultancy Services (TCS) may be assigned projects that are neither\ninteresting to them, nor helpful to their career, and yet, there’s not much\nthey can do about it. As a freelancer, you are free to constantly hunt projects\nand opportunities that may either be financially rewarding or intellectually\nstimulating or both. <\/p>\n\n\n\n

    On the flip side, however, if you struggle\nwith discipline to get things done yourself, then freelancing might be a\nproblematic choice for you. I have personally known many professionals who\nswore by regular, full-time opportunities because they confessed their lack of\nmotivation or discipline to get things done without constant supervision. <\/p>\n\n\n\n

    So, it isn’t a bad thing necessarily if you tend to get lazy when you have nobody watching over your shoulder, but it could likely affect your success as a freelancer. <\/p>\n\n\n\n

    2. Earning Potential<\/strong><\/p>\n\n\n\n

    The second point that makes freelancing\nstand out from full-time employment is the concept of earning potential. As a\nsalaried employee<\/a>, your earning potential is largely linked to your overall\ncost to company (CTC); regardless of how hard you work, there are going to be\nlimits to how much you can earn.<\/p>\n\n\n\n

    Fortunately, freelancing presents the\ncomplete antithesis of this notion; freelancers have the choice to work more\nand make more money. As a freelancer<\/a>,\nyou are not tied to one company and can work for multiple employers at once\nprovided that you can handle the workload. If you are someone who doesn’t get\nburned out or tired easily, then freelancing could make you a lot richer in a\nfew years than most full-time jobs would.<\/p>\n\n\n\n

    Additionally, you can always choose to not\nrenew a certain contract if you find a better-paying gig. This privilege isn’t\navailable to full-time employees since it isn’t as easy to switch jobs,\nparticularly when they are full-time engagements. <\/p>\n\n\n\n

    An employee may build a career, but a\nfreelancer builds a market (for himself\/herself). As a salaried professional,\nyou may build a strong CV, but as a freelancer, you create a brand of your own,\nand it’s not new knowledge that the latter is more important. <\/p>\n\n\n\n

    However, if you are an individual who is more comfortable with doing the absolute minimum required to take home a salary, then freelancing may not be the most suitable choice for you. Freelancers are opportunists; they are constantly on the lookout to make more money or build their reputation. It’s not a bad thing though if that doesn’t sound like you, but you are more likely to benefit from freelancing if it does (or did). <\/p>\n\n\n\n

    3. Scaling Opportunities<\/strong><\/p>\n\n\n\n

    Yet another difference between freelancing\nand full-time employment is the opportunity and ability to scale. Full-time\nemployees may be able to switch jobs with better pay packages and more\nrewarding incentives, but freelancers can always hire interns or employees to\nwork under them. <\/p>\n\n\n\n

    If you have ever wondered what makes the\nrich richer, it’s because they understand the concept of leverage and use it to\ntheir advantage. A full-time working professional may not make as much money in\nhis\/her lifetime as a business owner or freelancer who employs contractors to\nwork under him\/her, and the reason is simple – leverage. <\/p>\n\n\n\n

    Leverage is essentially the magnification\nof your efforts and results; as an individual, you only have 24 hours in a day\nto utilize. Now, how efficient can you possibly be? How much work can you\nfinish all alone? Can you possibly do the work of 5-10 people all by yourself\non a consistent basis? <\/p>\n\n\n\n

    Not really, right? <\/p>\n\n\n\n

    But what if you were to hire those 5-10\npeople to work under you and help you accomplish your goal? Could it be doable\nthen?<\/p>\n\n\n\n

    Yes, certainly. <\/p>\n\n\n\n

    And that is what freelancing offers you. If\nyou fancy winning a huge $20,000 project, you can always hire some\nprofessionals to work under you to ensure that the deliverables are taken care\nof. Of course, you would need to manage and supervise their work, but once they\nare trained, your overall involvement is going to be much less.<\/p>\n\n\n\n

    Freelancing allows you to deploy leverage\nto maximize your earnings, but be warned – the risks are also higher. If you\nhire others to work under you and the client ends up absconding, then you will\nstill be liable to pay the fees or charges owed by you to your workers. Many\nfreelancers do end up ghosting and not paying their workers, but it isn’t an\nethical practice and is likely to hurt your reputation in the long-term.<\/p>\n\n\n\n

    If you have no intention to scale your operations (ever), then you may consider sticking to your regular, full-time job. The overall rewards may be lower, but so would the associated risks be.<\/p>\n\n\n\n

    4. Introvert vs. Extrovert Personality<\/strong><\/p>\n\n\n\n

    Finally, as a freelancer, you are likely going\nto be working alone most of the time. There may be times when you may have to\ncollaborate with the in-house teams of companies, but those opportunities may\nbe rare. <\/p>\n\n\n\n

    Being a full-time freelancer myself, I know\nseveral professionals who prefer regular, full-time employment not because of\nany other reason but the camaraderie they have. Office employees tend to form\nstrong bonds with each other and may have more avenues to socialize with each\nother.<\/p>\n\n\n\n

    Unfortunately, most freelancers aren’t as\nlucky. Unlike full-time employees who may have identical work and break<\/a>\ntimings, freelancers could have vastly different working hours depending on\ntheir clients. This makes it hard for them to hang out together. <\/p>\n\n\n\n

    Also, the fact that freelancers usually may\nwork on a per-project basis doesn’t help. When companies’ employees collaborate\nand deal with freelancers, they may keep their guard up since they do not know\nthe latter personally.<\/p>\n\n\n\n

    So, in short, a freelancer may not have a\nlot of friends. At least, I don’t. <\/p>\n\n\n\n

    Although this might sound like a bad thing,\nit may not necessarily be so. If you are an introvert by nature, you likely\ndon’t care about having a lot of friends. If this is the case, freelancing is a\nperfect choice for you. <\/p>\n\n\n\n

    On the other hand, if you are what others\nmight call a ‘people person’, then perhaps freelancing can end up mentally\ntaxing you severely. One of my students wanted to try her hand at freelancing,\nbut very soon, she ended up being miserable working all alone and having nobody\nto talk about her day-to-day life with. Naturally, she returned to full-time\nemployment for the said reasons.<\/p>\n\n\n\n

    If you too are someone who enjoys working\nin a team, then it is advisable that you stick with your full-time job. Sure,\nfreelancing might make you more money, but is it really going to be worth it\nfor you if you end up depressed and demotivated? You decide.\n\nUltimately, you should enjoy whatever you do. If\nyou prefer freedom with regards to your work choices, want to remove limits to\nyour earning potential, and are an introvert by nature, freelancing could be\nyour dream choice for a career; otherwise, you can always continue your\nregular, full-time employment. There’s no harm in sticking to whatever works\nfor you!\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"

    Whenever freelancing is talked about, one of the most common questions many new and aspiring freelancers may have is whether it is better than full-time …<\/p>\n","protected":false},"author":52,"featured_media":5310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[32,1800],"class_list":["post-5309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-freelancing","tag-freelancing","tag-freelancing-vs-full-time-job"],"yoast_head":"\nIs Freelancing Better Than Full-Time Jobs? - Developers, Designers & Freelancers - FreelancingGig<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.freelancinggig.com\/blog\/2020\/03\/30\/is-freelancing-better-than-full-time-jobs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Freelancing Better Than Full-Time Jobs? 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