Which is better? Making a living through having a freelance career or having a standard office job? It really depends on you and which option gives you what you need, all while aligning with how you want to work. Whether you choose to work in an office or from your living room, there are definite perks to each one. The choice can be tough, so here is a breakdown on the three biggest pros and cons of remote work with a freelancing career, from the flexibility to the instability.
Things To Consider in Freelancing
Flexibility
Tons of companies nowadays are making serious efforts to improve the balance between work and personal time for their employees, whether that means offering more paid time off to use as you see fit or including perks like gym discounts and encouraging after-hours socializing with your coworkers. But no matter how far companies may come, they generally always want their employees to be in the office Monday through Friday, nine to five – though some companies do offer some wiggle room with this.
When working as a freelancer, you generally have way more flexibility since you create your own work schedule. You can set your own hours, decide where you want to work, choose which assignments you want to do, work around any commitments you may have and even work while traveling if you want. As long as you get your work done, it doesn’t really matter how or when it gets done. That said, working remote is not necessarily easier because of its flexibility. When you don’t have a direct supervisor to answer to, you have to make and stick to your own deadlines. There will be many nights that you won’t be able to go out because you just have to finish a project. There is also the risk that because you work remote, you may take on way too much work to handle and then be buried underneath it.
Benefits
Now, this is the one area where it is pretty obvious which job style is better. Working for larger company means that you have a set amount of paid time off already figured out. The same goes for retirement, health insurance and sick leave. Aside from figuring out which insurance you want and how much to contribute to your 401(k), you don’t have to do much. Plus, a lot of companies offer perks, like social outings, massive holiday parties, discounts on specific brands and catered lunches.
Working as your own boss as a freelancer means that you are solely responsible for your own health insurance, paid time off, sick and parental leave, and retirement. You have to plan ahead for all of those things in a way that those working for a larger company never has to. You are basically all on your own and that is seriously daunting. If you choose a career in freelance, you better make sure that you seriously think about all of your options and come up with a plan to protect yourself in the future.
Stability
This one may also be a clear no-brainer for a lot of people, especially those who get nervous when they feel unstable and insecure. Salaried employees may not be guaranteed their job for the reminder of their lives, but for the most part, you would have to actually do something to warrant being fired. No matter how stressful a month has been, as long as you do your work to the best of your ability, you will still be getting a set paycheck. And let’s say you do get fired for some reason, your employer will typically give advanced notice and/or some sort of severance.
Freelancers don’t really enjoy the same level of stability. Not only are you on your own, you have to go out and hunt for business, which means that some months may be incredibly slow and pull in next to nothing in terms of profit. You will just have to make sure that when you are in an upswing, to put aside money for those low periods so you can still pay your rent on time. The perk fund within finding your own business means that you will probably have several different clients, so even if one falls through, you will have many others still on board. When looking for new clients, check out online jobs for job seekers on Remote.com.
