Freelance VS Full-Time Jobs- Pros & Cons!
Freelancers are often considered as consultants. They’re professionals whom people seek out temporary advice or work from. They’re not permanent employees and they often have to look for work on freelance sites. Freelancers are usually hired on short-term contracts, project-based work or hourly input. With easy access to the internet across the world and multiple freelance sites out there, many people choose to freelance over traditional full-time jobs. This article will walk you through the pros and cons of both freelancing and a full-time job. The purpose is to educate you about both pathways and leave the choice to you.
Let’s get into the details:
Pros of Freelancing
- You’re your own boss. You decide your work hours and if you’re experienced enough, you get to have a say in the hourly rates you work for.
- You get to work with more than one client at one time.
- Working with multiple clients and short time periods means you will never get bored.
- Freelancing teaches you great management skills and also gives you insights into different aspects of running a business.
- You have the freedom to choose the clients and the projects you want to work with
- You have more time to spend with friends and family.
Cons of Freelancing:
- You sometimes have too much work to handle at times, if you don’t properly manage your time.
- The cash flow is inconsistent and depends on the number of projects you’re currently working on.
- You’re the team, there is no one to take the blame for your mistakes.
- You don’t get any employee benefits like medical insurance etc
Now that we’ve covered the advantages and disadvantages of taking on freelancing as a career, let’s move on to the pros and cons of full-time jobs:
Pros of Full-Time Jobs:
- Consistent cash flow. You will have a steady income, this can be monthly, bi-weekly or weekly depending on what’s in your contract.
- You can avail paid and sick leaves and vacation time depending on what’s agreed between you and your employer.
- You will be entitled to employee benefits like medical insurance which can extend to your family as well.
- You will have access to an instant support and social circle in shape of your fellow colleagues.
- There will be opportunities for you to grow as a professional in the organization.
Cons of Full-Time Jobs:
- Your work hours are usually fixed with no room for flexibility.
- There is a lack of job security unless you have a fixed time contract
- You can sometimes feel trapped and bored as you will be working with the same type of clientele and often not be able to choose what you work on.
- The commute can be taxing on your health if your workplace is more than 30 minutes away from your home.
There you go, we have laid down the benefits and pitfalls of both full-time jobs and freelancing. Depending on what suits your financial and personal needs, you can now do an analysis and determine what suits you the most. Good Luck!