Freelancing vs Full-Time Jobs: Which One Should You Choose?
Table of Contents
- 5 Benefits of Being a Freelancer
- Freelancing vs Full-Time Jobs in a Nutshell
- Key Takeaways
Often, we find ourselves debating freelancing vs full-time jobs. Much has been said and written about the two, but at last, it becomes a personal choice. As a freelancer, your options are only as scarce as your readiness to pursue them. The sense of control you can have over your fortune is compelling (and frightening), but if you’re self-motivated and have a big risk appetite, you can be a successful freelancer. Let’s look at why freelancing is still preferable to a steady, fixed-income job.
5 Benefits of Being a Freelancer
Both freelancers and full-time employees have their unique sets of challenges. However, there are certain benefits of being a freelancer that we’re totally here for. Let’s look at some freelancing advantages below.
1. Autonomy and personal freedom
Working as a freelancer puts power in your hands to choose your work and sleep hours. It is a huge benefit, especially if you are an evening person, who has had a bad experience getting up early for a morning desk job. As a freelancer, you can choose to work a couple of hours at night, a few hours the next afternoon, and a few in the evening. No one cares where you are as long as you are getting the work done and meeting the client’s expectations. You could be working from your couch or be sitting amidst the serenity of beautiful mountains and forests.
Also, you get to spend more time with family and friends. If you are a new parent, there is nothing more difficult than getting up in the morning when you’ve slept at 5 am.
Freelancing is a boon for new parents, because it gives them the freedom to reschedule without compromising on a good night’s sleep. Because no one is waiting at the office to confront you for being late in the morning, you can choose to work at your own pace.
A great benefit of freelancing is that it rarely becomes monotonous, because you have the power to break the weariness and bring in excitement. You can do so by switching locations and even clients. You hardly get to do this when you have a fixed schedule, hours, and location.
2. Freedom to select your clients
Many of us like to challenge our abilities and strengths by taking risks. A desk job may not necessarily offer it, especially where there are many gatekeepers, and seniority is preferred over excellence.
One of the biggest freelancing advantages is that you get the luxury of being able to say “no” to clients you do not want to work with, unlike in regular employment. It saves you from a lot of unnecessary stress, negativity, and ruckus in life. You represent yourself as a complete enterprise and choose to connect with clients who like your style or approach towards work. One of the major benefits of being a freelancer is that you get to establish yourself as a brand in your field of expertise.
However, you will need to work on building your presence in your field through networking, having your own website, a strong LinkedIn profile, and a good reputation. But once you succeed in executing these basics, there is no turning back. No matter where you live, freelancing allows you to gain access to clients regardless of geography. It could be different states or even different countries. This allows you to think beyond geography and focus on what best rewards your skills.
3. Saves commuting cost
According to a survey conducted by Awfis in 2020, the pandemic-enforced work-from-home obligation saved an average Indian professional nearly two hours of travel time and about Rs. 5,000’s worth of daily commute. In another recent study conducted by Citroën India, 92 percent of Indians find their drive to work uncomfortable. Furthermore, the study discovered that honking, noise, and pollution bother 55 percent of people.
Freelancing saves you from this pain, except if you are a part of essential services like hospitals, transport, law enforcement, agriculture, food manufacturing, processing, supply, etc. People working in the non-essential service sector have realized that working from home is possible without sacrificing time, money, and productivity.
4. Infinite earning potential
According to a study by the Stanford Graduate School of Business, working from home improved work efficiency by 13 percent, and a revenue increment of $2,000 was observed after employees were allowed to work from home. When compared to a full-time job, freelancing allows for faster growth opportunities. In a full-time job, you can typically increase your salary by 20–30% per year (on an average). However, with freelancing, you can double, triple, or even quadruple your earnings in a year.
Unlike in a full-time job, you are not bound by any contract or obligations as to how much money you can make. When you know you are the best in your field, you can pull in more money by quoting as per your expertise. An important benefit of being a freelancer is that you work for several companies, so you won’t be out of work if one of them decides to let you go. In addition, you can rake in more money and take time off whenever you find it necessary.
5. Independence to work on passion projects
Another benefit of freelancing is the opportunity to truly experiment with your skill-set. You are not required to follow any set of rules. Freelancing gives you autonomy over the choice of tasks and fields you are most passionate about.
Also, working on something you love may not feel like work, and you might end up having fun. You can hone your skills through your passion projects, which will eventually improve your ability to deal with various types of challenges. Due to time constraints, you may be required to multitask in a regular job. However, while working as a freelancer, you can truly expand your limits.
Freelancing vs Full-Time Jobs in a Nutshell
|Work from any place||Work from office|
|Several clients or bosses||One boss or limited clients|
|Multiple channels of earnings||Fixed monthly income|
|Challenging and exciting||Routine that can turn monotonous|
|No money spent on commuting||Money and time spent in daily commute|
|Take time off without asking for approval||Depend on seniors for approval of your vacation|
|You can work during the day or night||Fixed work hours (usually 8am to 5pm or 9 am to 6 pm)|
|Provides autonomy on workload||Workload decided by others|
- As a freelancer, you can upskill yourself constantly, and decide what and whom to work for.
- Freelancing lets you exercise greater control over your finances.
- Another freelancing advantage is that you can choose the time and place of your work.
- Freelancing may provide you with a higher learning curve.
When talking about freelancing vs full-time jobs, the latter offers more opportunities for work and high income within the confines of your home. When you have the time to pause and reflect on where and how you spend your time and energy, or what consumes you, you will have greater strength to focus on your mental health and pursue personal interests.
Due to fixed schedules and lack of autonomy, a full-time job may make it hard for you to reconfigure our thoughts and feelings. Freelancing provides you with the time to wield your powers of conception, judgment, or inference that a 9-5 job may not provide.
To begin with, build your professional network on LinkedIn, showcase your work on several social media platforms, offer your services at a competitive price, and create a website for yourself. While improving your skills, you can also register yourself on freelancing websites.
The main advantages of freelancing are that you get to decide when, where, and how you work, and whom you work for. The freedom to pick clients and projects and decide your rates is also a big freelancing advantage.
The COVID-19 outbreak has forced the world to reconsider work settings and conditions. The definition of security, as we know it, has changed. Working from home is already a new normal, and it has pushed the salaried employee to consider multiple sources of income. As a freelancer, your options are only as scarce as your readiness to pursue them.
Freelancers are paid more for what they bring to the table, which is independence and greater autonomy. Unlike in a full-time job, their efficiency in completing tasks in less time earns them more projects, as they get paid on a project basis.
It has been revealed in a survey by Awfis that in five years, more people will either work from home or near their homes. Professionals who used to work full-time are now offering their services during the extra hours saved from commuting to work and establishing themselves in their respective industries. Technology is also helping them pursue their endeavors, making freelancing an increasingly promising avenue for Indians.