27.05.22

Freelancing VS Full-Time Employment

The grass is always greener on the other side, right? It’s an inherent trait of human nature to yearn for something different, something better. 

Your workplace is not an exception to this rule, though. Many employees dream of escaping the 9-5 routine, craving freedom and flexibility they desperately lack. To work on your  terms, without unnecessary stress, early rising, and commute to and from work — would be such a blessing. 

On the other side of the fence, it’s no secret that some freelancers are craving a stable paycheck, steady work income, and employee benefits, such as paid leave or 401K. There is something liberating when you know that all you have to do is show up and do your work. You don’t have to bother with chasing new clients or stressing about how you will  make it through the month when you don’t have enough work on the plate. 

It seems really difficult to choose the best possible option, isn’t it? Don’t worry; we’ve got you covered.

In this article, we’ll take a look at the pros and cons of freelancing and full-time employment, so you can determine what’s your best method to maximize your income and enjoy life on your  terms. So, let’s begin.

Pros and Cons Of Full-Time Employment

Is working full-time the best career choice you can make? 

It depends on your perspective, needs, and your priorities in life. If you value routine and stability, financial security, many perks, and benefits, full-time work will be the perfect choice for you in the long term. 

Let’s take a look at some of the most important benefits of this type of job: 

• A steady income 
• Paid leave 
• Social security benefits 
• Your employer is paying your tax and pension contributions
• Work on a fixed schedule, the hierarchical corporate structure which enables you to “climb up the ladder of success”.
• Your only responsibility is to dedicate yourself to your work assignments
• Many perks include discount commuting, using a company phone or car for business expenses, free networking events, covered costs for seminars and training, discounts on company services, free kindergartens, etc. Perks come in all shapes and sizes, and their role in acquiring new workers is huge.The bigger and more successful the company is, the more bonuses available for its employees . And so is the competition, because — hey, everyone wants to work there!

It all seems quite impressive, doesn’t it? So why bother with freelancing at all, you may ask? Here is the catch: the pandemic has significantly shattered the “100% safe and secure job” premise. Countless employees worldwide have been fired on short notice in the last two years, and many businesses have shut down. Yes, full-time employment should guarantee you a stable income for years, and if you take that away, what’s left? 

Here are some downsides to full-time employment which you might reconsider: 

• You’re stuck in a routine; there isn’t much space for creative work or variety. Boredom may also make you unproductive in the long run. 
• Not enough work-life balance; you have to put your job first if you want to advance and succeed on your career path
• Your stress levels may soar 
• You can’t choose whom will you collaborate with and what kind of project will you work on
• If you get fired, it can be really tough for you to land another job compared to more versatile, street-wise candidates. 

With all of this in mind, let’s look at freelancing and see if it’s the right fit for you.

Is Freelancing Right For You?

If full-time employment was a standard until recently, the pandemic has shown that we live in a time of changes, and we have to adapt or risk being left behind in the dust. 

One of such “radical” changes was in the workplace: millions and millions of people were fired from their “stable” jobs, and many companies introduced the new “work from home” concept for their employees. Result? An overwhelming number of employees now don’t want to get back to the office and state that they’re most productive when they work from home. 

Freelancing has been on a steady rise, either as a second source of income or as an only employment option, especially if you’ve just entered the job market, or are looking for a new job. 

And why is it so popular? Here are the most significant pros of freelancing: 

• Freedom all the way! You’re free to work whenever, wherever you want, on your own terms: you can work from your sofa, in a café, in the park…the possibilities are endless. When and how long will you work — it’s up to you. 
• As a freelancer, you’ll be hired for many exciting  projects for clients all around the world. You’ll be paid timely and safely for every hour you work by your clients. Numerous freelance websites hire freelancers and foster the new age of the gig economy. One such example is Djobzy, where you can register for free and instantly apply for numerous online or offline gigs/tasks. Check them out if you’re just starting your freelance journey and see what the other freelancers are raving about: www.Djobzy.com. 
• Forget the monotony, boredom, and routine. Freelancing makes you a lifetime learner, constantly learning new skills and upgrading yourself. And if that’s not the hallmark of the best workers, we don’t know what it is. 
• You’ll finally achieve that precious life-work balance. There is no commute, no stress, and you can sleep well and eat better. These factors contribute to much higher productivity and better quality of life. 
• Freelancers have complete freedom in choosing their projects and whom they’ll collaborate with, unlike full-time employees. 
• Once your gig/task ends, you’re competent to land a new deal in the nick of time because of your competitive edge and skills — a massive advantage over the “traditional” workers. 

Freelancing comes with its own unique set of challenges as well, so let’s look at some unexpected risks: 

• You don’t have a steady job and a guaranteed paycheck. There may be times when you’re literally overbooked for months, and there are “dry periods” with no client within eyeshot. That’s why you have to learn the basics of money management and save some money for rainy days cause you’re entirely on your own.
• No paid leave, no maternity or sick leave, no security benefits. You have to pay your taxes, and there is no guaranteed pension for you, as well. 
• Don’t risk working with unreliable clients. Always check their credentials (if they’re verified) and ways of payment. Many beginners have been burned by working for unreliable clients who haven’t paid them in the end. 
• Freelancers usually work on their own, so isolation may rear its ugly face, especially if you’re used to communicating with coworkers every day. The more extroverted you are, the more difficult it will be for you to adjust to this digital nomad lifestyle. 
• Big companies have sectors responsible for accounting, law, and IT. But when you’re a freelancer, you have to become familiar with tax regulations, contract law, technology, marketing, as well as office management, and business communication with new clients. If you’re willing to learn and constantly improve, then it will be definitely a breeze for you, and you’ll enjoy learning as much as you can. 

 

We hope this little guide has helped you decide on your priorities and pick the best type of career.

Freedom or stability? Freelance or full-time? Which option works for you best? Share your insights in the comments below; we’d love to know what you think. 

At the end of the day, it all depends on your needs and perspective. There isn’t a one-size-fits-all answer suitable for everyone under the sun. Observe your primary needs: what kind of work can make you happier and more fulfilled? Then go for it without any reservations or doubts. 

And finally, if you ever decide to change the route, you can always do it: we live in a really flexible time, and you’re always free to choose freelancing as your primary profession or use it as an addition to your regular full-time job. People and preferences can change over time, and it’s perfectly normal. Remember, you deserve to live and work on your own best terms — whichever they might be.

Read More: Refer and Earn With Djobzy