When it comes to choosing your career, you have two main options: employment or freelancing. Both have their own pros and cons, but which is the better choice for you?
So let’s take a look at employment vs freelancing to see which one is the right fit for you. For many people, working as an employee instead of freelancing seems like a safer choice.
After all, working as an employee means having set hours and a stable income. But there are also downsides to being an employee mainly that you don’t get to choose your own work hours or how much money you make.
On the other hand, freelancing has its own advantages. You get to decide what projects you take on and how much money you want to earn from them.
However, being a freelancer does come with its downsides too mainly that there’s no stable income and no set amount of work hours each week.
Employment Vs Freelancing
The first thing to note when comparing employment vs freelancing is that although they both refer to people who work off the books, that’s where the similarity ends.
These two career paths have very little in common. Employment usually refers to a full-time job where the employee works for one company. Freelancing, on the other hand, is a type of work that you typically do on a part-time basis for multiple clients.
Benefits Of Being An Employee
One of the main benefits of being an employee is that you have a consistent and relatively secure source of income. Since you get paid a set amount every month, you also don’t have to worry about finding new clients every month.
Another key benefit of being an employee is the stability of your work hours. You know exactly when you’re supposed to work, and you also know that you don’t have to put in more than the required hours.
Working as an employee also means having regular social interaction with your co-workers. This is something that freelancers don’t have.
Another advantage of being an employee is that you get to do different types of work every day. This can be very helpful if you want to learn new skills.
If you work for a bigger company, you might have opportunities for promotion. This could help you earn more money and move up in your career.
Last but not least, employment is easier than freelancing. In general, it’s easier to find a job as an employee than a freelancer.
Benefits Of Freelancing
As a freelancer, you have more freedom than an employee. You can set your own work hours, work from anywhere, and decide which projects to accept.
Another thing that you don’t have to deal with as a freelancer is micromanagement. Your boss will not be breathing down your neck or telling you what to do every minute of the day, which can be a nice change of pace compared to working as an employee.
Since you’re the one choosing which projects to accept and setting your own rates, you have the potential to make a lot more money as a freelancer.
Another big advantage of freelancing is that you get more ownership over your work. Since you’re the one who chose to work as a freelancer, you get to make the decisions and are ultimately in charge of your work.
One thing that many people dislike about being an employee is the office politics and drama. You don’t have to deal with any of that as a freelancer.
And finally, another benefit of freelancing is that you don’t have to work set hours. You can work as much or as little as you want.
Downsides Of Being An Employee
Too Much Work And Stress
One of the downsides of being an employee is that you can end up working too much. This can lead to stress, which is never healthy.
You might have to work extra hours if you have too much work, or if someone on your team is out sick, and you have to take on their responsibilities as well.
While most employees like having a steady paycheck, there are downsides to this too. For example, many employers micromanage their employees.
This means that the employer keeps an eye on everything you do, from how many minutes you spend in the bathroom to how much time you spend on each project. This can be very stressful.
Having No Control
Many employees don’t have much control over their schedules. They might have to work on weekends or during certain hours because their managers tell them to. This can be very stressful if you have family or other obligations to take care of.
Downsides Of Freelancing
No Steady Income
One of the biggest downsides of freelancing is that you don’t have a steady source of income. You don’t know how much you’ll earn from one month to the next.
No Set Work Hours
Another disadvantage of freelancing is that you don’t have set hours. You might have to work late nights or weekends if you have a lot of projects at once.
Lack Of Social Interaction
Freelancers don’t get to interact with other people as much as employees do. This can be a drawback if you’re a very social person and like having people around you.
No Office Politics
While many employees dislike the office politics and drama, it’s something that you don’t deal with as a freelancer. But that also means that you don’t get any of the benefits that come with working with a team that works together on a regular basis.
Managing Your Own Finances
Finally, when you’re a freelancer, you have to take care of your own finances. You have to make sure you have enough money in your savings account to get you through the month if you get paid later than expected.
Is A Freelancer An Employee?
If you choose to become a freelancer, you’re not technically an employee. You’re a contractor. This means that you work independently and are responsible for your taxes.
You don’t get benefits or have a set salary like employees do. But the thing is, you can make more money as a freelancer than an employee.
This is mainly because you set your own rates and decide which projects to take on. You don’t have set hours or a salary, but you make more money in the long run because you don’t have to pay taxes on your income as employees do.
Employees are paid a set amount each month, and they pay taxes on that amount. But freelancers pay taxes on the money they actually earn. In the long run, this means that you actually make more money as a freelancer than an employee.
Perks And Flexibility
When you work as an employee, you have set work hours, and you make a steady paycheck each month. Depending on your employer, the work environment can also be somewhat flexible.
Some companies allow employees to work from home, while others offer flexible hours that let you work while you’re child is in school.
As a freelancer, you don’t have a set amount of work hours. You have to work whenever you have a project to complete. Plus, with freelancing, you don’t have a steady paycheck.
Instead, you have to wait until clients pay you for your work. This can make it difficult to budget for the month and cover your expenses. Plus, you don’t know when clients will pay you, which can make it challenging to pay your bills on time.
Stability And Struggle
When you work as an employee, you have a steady paycheck and benefits. But you might not get the type of work that you want to do or the benefits that you want, such as health insurance.
When you work as a freelancer, you have no steady paycheck and no benefits. You only get paid when you finish projects, and it can be difficult to make a living as a freelancer without any steady income.
As an employee, you might struggle to make ends meet during certain times of the year, but you’re guaranteed a paycheck at the end of the month. As a freelancer, you never know how much money you.
Being an employee is a very stable and secure way to make money. However, it has a few drawbacks that some people don’t like.
You typically have set hours and a steady paycheck, so you don’t have to worry about finding a new job every day. The drawback is that you don’t get to choose what projects to take on or how much to make from them.
The other drawback is that you can end up doing the same work over again and again, which can get boring and stressful.
However, freelancing is a great option for those who want more freedom, more variety, and more ability to be in control of their work. You can set your own work hours, work from anywhere, and decide which projects to accept.