Have you ever thought about going into freelancing, because Corporate just isn’t for you? Before you take that leap of faith in jump into freelancing, let’s discuss the Pros and Cons of freelancing.
You get to make your own schedule. As a freelancer, you are basically your own boss. You don’t have to report to anyone and you get to start your day whenever you want too. You can get started at 6am if you want or you can get started at 2pm if you want and nobody can say anything to you about it.
You get to work wherever you want to work. I believe it’s important for most freelancers to have a home office, so that you aren’t too distracted from the work that you need to get done, however one of the joys of being a freelancer is being able to work at the cute and cozy coffee shop down the street from your apartment or on the beach.
No office politics. You don’t have to deal with office politics. You can wear what you want to wear, be as loud as you want to be and don’t have any co-workers or executive leadership to deal with.
Compensation may be higher. I’ve seen a lot of people who decided to quit their 9 to 5 and become a freelancer say, “I’ve doubled my salary since quitting my job.” Hiring a freelancer may be cheaper for a company and therefore a higher rate of compensation is offered. You are also in charge of what you want to charge a company for your services and that charge could be way more than what your 9 to 5 would ever pay you.
Cutting out the commute to work. As a freelancer, you can work from home, which means you are cutting out a 20 to 30 minute commute to and from work everyday, which is essentially saving you money on gas because you aren’t doing as much driving.
Inconsistent work flow which means inconsistent cash. The work may not be coming in which means the cash isn’t coming in either. You don’t know when you’ll get your next client and it could take a while for you to get your next client.
Not knowing when you’re going to get paid or not getting paid on time. I’ve seen several threads on twitter about freelancers who didn’t get their paycheck from their clients on time and are scrambling to make ends meet because ummm…they were kind of depending on that check to pay their bills.
No benefits. Working as a freelancer means no PTO, no company paid health insurance, no maternity leave and no 401K.
Isolation. Working as a freelancer means you’re pretty much working alone, unless you’re a loner like me, this won’t bother you much, but you don’t get to be apart of a team or company.
Literally..everything is one you. When you are a freelancer, finding work, collecting income, and negotiating prices and deadlines are literally up to you.