Freelance work is a type of work that means using self-motivation and dedication to be successfully self-employed. It comes with a lot of risks as compared to full time employment but can also be very rewarding. In this article we will talk about the pros and cons of freelance work versus full time work.
Freelance work:
Pros
Work your own hours. When you’re working freelance you can usually set your own work hours especially if it’s a role you can work from home. This can be hugely beneficial to people who have children, for example, so they can be at home with their children more often.
Set your own rates. Once you are a successful freelancer you can set your own rates for your work, which means deciding what a fair rate is to charge people for your services, while still making sure you earn enough to justify the work. This can be great because it allows you to decide on your own salary dependant on your situation.
Work with people you want to work with. If you are working as a freelancer and find that one of your clients is difficult to work with you can choose to stop working for them. This means that you only have to tolerate as much as you are happy to from difficult clients and gives you control of your own happiness at work.
You will always be doing what you want to do. Working as a freelancer means always doing work you enjoy doing and working in your career of choice. This means you will be less stressed while you work and therefore have a happier work life in general.
Cons
It’s unreliable. Contracts with clients can fall through easily, new clients can be difficult to find because you have to prove your abilities to them first and you have to wait for people to pay their invoices on time. This can cause anxiety and stress due to never feeling 100% secure.
It can be very hard work. With freelance work you don’t have set hours so you never really feel ‘done’ unless you have a specific project that you bring to completion. For example, a freelance writer will always have another piece to write, so even when their work for the day is done there is always more to do. There is a level of self-control needed to stop yourself from working and give yourself a break.
It’s self-motivated. When you are working as a freelancer you will have to find ways to motivate yourself every day because you don’t have a boss to answer to. You have deadlines from clients but there isn’t someone standing behind you and making sure you finish the job.
You have to build up to success. No one (unless they’re very lucky) starts out successful as a freelancer. You have to build up a reputation for your work so that you can begin to earn money and then for the most part to begin with you won’t control your rates. This means a lot of the power is given to your clients to begin with and you have to be happy with that until you reach success.
Full Time Work: Pros
Financial stability. While no job is guaranteed forever, there is a significantly larger chance of financial stability when working in a full time job versus freelancing. You know that you will always have a set amount of work and a set pay at the end of every month, which can be important if you have a mortgage or debts to pay.
Set hours. Some people prefer working set hours because it means they have a routine that they can follow every day and do a set amount of work before going home. This will bring a level of stability to your daily life.
It’s easier to find. Full time work is easier to find than freelance clients can be. If you’re willing to take literally any job that is offered to you, full time work can generally be found quite quickly.
There is a chain of command. Working full time you will always know who you report to and who reports to you. It’s easy to determine who is in charge and who isn’t.
Cons
You’ll always have a boss. In contrast to the last pro on the list, you will always have to answer to someone. You might not always like that person, which can make for a difficult work life.
You’re not in control of your earnings. You earn as much as the company is willing to pay you and you have to wait for a promotion or raise before that changes, which is largely down to the company to decide to give you when they want to. You could go and get another job but most roles will operate on the same pay scale so largely you will be looking at the same pay for your role wherever you go.
Commuting. Most jobs will require you to commute to work. This could be a few minutes away from your house but will generally require some driving, bus or train travel every day. This adds time to your day and makes it longer than your shift, giving you less time at home with your family.
Set breaks/lunches. When you work full time you don’t get to decide when you need a break, your employer does. Your employer will decide if you get to take your breaks in a set time or when you need them, how long you can take a break for and how often you can go for a break. This can be frustrating if you suffer with a condition that requires you to take breaks often.
There are reasons on both sides of the fence for and against working as a freelance worker vs working full time. In the end, it is up to you if you want to become a freelancer. If you have a talent and want to use it to become self-employed, why not consider it? As always, good luck!
