Like any other job, there are pros and cons of freelance work. Many people seek freelance work because of the freedom it provides, but weigh all of the pros and cons of this type of work before making a life-changing decision to quit your job and work from home doing freelance work.
If you are a college grad or someone who is looking to make a career change, freelance work may be an option for you. If you are just starting your career, completing freelance jobs is a great way to build your portfolio and gain experience in your field. Maybe you are considering being a freelancer as a side job to earn extra money, but take the time to look over both the pros and cons first. Many times people only see the benefit of working from home, but that is not always the best choice.
With the vast growth in this industry there are plenty of places for a freelancer to find work. Last year alone, US businesses spent $604 million on hiring freelancers online.
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Pros and Cons of Freelance Work
Earn more money – Most jobs will hire people for entry level positions. Even though starting as a freelancer worker may not make a ton of money it has a huge potential to earn more than a typical full-time income. Not only do you have the freedom to take on as much work as you can handle, but often times you get to work at your own pace and you can slowly increase your prices for your skilled work. As a freelancer you have the option of taking on several revenue streams with the variety of jobs you complete and you can negotiate the amount of money you are paid for each job unlike a regular employee of a company.
Flexible schedule – This seems to be a huge pro of doing freelance work. Depending on what your life is like you may be seeking a flexible schedule. Most parents love having the benefit of a flexible schedule so that they can work around the times with their children.
Being your own boss – I always hear people complaining about their boss. For the people who are natural leaders and have good direction this is definitely a plus of doing freelancer work to earn an income. Not only do you get to call all the shots, but you do not need to report to some everyday or have some watching over your shoulder.
Variety of work – From personal experience I can say that when I used to work a normal nine to five job I got tired of doing the exact same work day after day. As a freelancer you have the freedom to work on different projects whether that is writing new topics for clients or working on design projects as a graphic designer.
Work from anywhere – Working from home is always a huge bonus when it comes to finding a job that you love, but most freelancers can actually work from anywhere.
Maintaining steady work – As a freelancer you do not have job security. It may be hard finding steady clients especially when you are first starting.
Isolation – Since you will be working from home you will not be creating relationships with co-workers or having daily conversations with other people in the same field as you. Although there are many freelance networks where you can connect with other people this is something you should take into consideration if you enjoy the company of other people.
Benefits – It is important to remember to factor in all of the benefits you would be receiving from a traditional job like a pension and/or healthcare. Since you are self-employed you will not be given these benefits. This may or may not be a deal breaker. There are alternative ways of having these benefits but you will be paying for them yourself.
Fast turnaround time – Often times you are called in because of a quick deadline and will be expected to get the work done immediately. Managing your time between jobs can be difficult especially if you are working from home with your kids.
Less creative input – Depending on what kind of freelance work you do you may actually have less creative freedom because a client can be extremely detailed and want it their way.
As you can see there are both up sides and down sides to becoming a freelance worker. If you are new to this line of work consider all of your options and make a decision based upon on both your personal goals and income expectations from these pros and cons of freelance work.
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