Freelancing vs. full-time: Understanding the pros and cons
Freelancing and working full-time, both have their own pros and cons. While some people crave the autonomy, authority, and freedom that comes with freelancing, others crave stability and prefer a full-time job for the same. Although the grass would always look greener on the other side.
However, if you are looking into either becoming a freelancer or ditching freelancing in order to get a full-time job, you might want to weigh out the pros and cons against one another before taking a call.
Let’s take a look at the pros and cons of freelancing before we look at the pros and cons of working full-time.
Pros of freelancing:
- There are plenty of pros of freelancing. The first of the many pros is that a freelancer is their own boss. There is a lot of autonomy and one can work from wherever they wish to. There is nobody to overlook things and you are responsible for everything.
- Freelancers get to work from the comfort of their own homes or from anywhere in the world. There is no barrier and there is a lot of flexibility in operations.
- Additionally, there are no fixed timings such as in a normal 9 to 5. A freelancer can work at any time he wishes to. As a freelancer, if you’ve had a stressful few weeks and wish to take a vacation, it becomes very easy as you don’t have to apply for leaves.
- Another pro of freelancing is that you can charge whatever rate from your clients as you deem fit. Because freelancers get paid per project instead of a monthly fixed salary, you will not have to wait till the end of the month to get paid. The sooner you finish up a project, the faster you will get paid.
Cons of freelancing:
- While there are plenty of pros of freelancing that make freelancing an attractive option, there are also cons to look at in order to make an informed decision.
- One of the major cons of freelancing is that there is no stable income. A monthly salary is an advantage to those that have mortgages and several fixed expenses as well as uncertain expenses. The fact that there is no fixed monthly income becomes a red flag for many that crave a stable and secure life.
- Freelancers are paid per project and not on a monthly basis, so the more projects you have, the more you will get paid.
- A full-time job offers certain benefits such as insurance and flight tickets. Freelancers tend to miss out on these perks. Because freelancers work by themselves, without any teammates or colleagues to build motivation, it can cause one to feel isolated and lonely.
Pros of working full-time:
- One of the things that make a full-time job seem attractive is the monthly salary offered. This gives one security and stability.
- An employee also gets additional benefits such as insurance for himself and his family, flight tickets, commissions, and bonuses.
- Additionally, a full-time job allows one to grow. There is a lot that one can learn from the experiences of colleagues and from the responsibilities that come with the job.
Cons of working full-time:
- There are several cons associated with having a full-time job. With the job market not being at its best, employees are not getting paid as much as their work is worth.
- A fear that is instilled in those working full-time is that they can be fired at any time which would leave them in a completely uncertain situation. There is no freedom or autonomy, and an employee has to do what he is told. He is not his own boss.
- Another con of working full-time is that most of the payment that one is supposed to receive for making sales, goes to the company and an employee only gets a small commission.
- An employee has to spend his time working for someone else from 9 am to 5 pm which barely leaves any room for personal activities such as spending time with his family, going to the gym, making dinner, and doing house chores.
How does Freedom2Work help?
At Freedom2Work, we provide exceptional services that can help you start your freelance business and begin your journey towards financial freedom. With expert guidance and prompt results, you can rest assured that your business can start on the right footing.
You can get in touch with us at our toll-free number, 800-FREEDOM, or at email@example.com.
Freelancing and working full-time, both have their own pros and cons. A general statement cannot be made stating that one is better than the other. After evaluating the pros and cons, one can make a decision about what is best for oneself. For some people, freelancing might be the better option, while for some, working full-time might be a better option.
No matter what you choose for yourself, ensure that you make the decision after understanding the pros and cons of freelancing as well as of working full-time before committing to anyone or anything.
Frequently asked questions
1. Is freelancing better than a full-time job?
A full-time job does not offer the freedom and flexibility that comes with a freelance gig. However, both aspects have their own pros and cons; when making the right choice for yourself, you would have to take every factor into account and do what would suit your needs best.
2. How many hours a day do freelancers work?
Most freelancers work more than 40 hours a week, which is at least 6 hours a day.
3. How long do freelance projects take?
There is no specific timeline that can be set for every freelance project. For example, an illustration project—depending on its scope—could take anywhere from a week to as much as six months. Branding projects, on the other hand, generally take a month to three months to complete.
4. Why do people choose to freelance?
When you freelance, you only have yourself to rely on. People could have multiple reasons for choosing a freelance career which include, but are not limited to, higher-earning opportunities, flexible work schedules, confidence, accountability, and much more.