Every coin has two sides. Similarly, freelancing or not, it depends on your line of work and your preferences. You might have heard that if you wish to be your boss, quit your 9 to 5 job today and start freelancing. Well! It’s true but it has a lot more to it. No job is easy whether it is a traditional 9 to 5 or freelancing. It comes with its own merits and demerits. One has to choose which path is the best for them. The most common difference is the working style. It’s a shift from reporting to someone and working under the radar to creating your schedule and managing it all by yourself.
If you doubt the number of opportunities in freelancing, there are plenty of them. You can check out UpTecHunt which offers huge opportunities to highly skilled professionals. Freelancing is more of a choice of autonomy over job security or stability, and flexibility over a fixed schedule. Think of it this way, you take sick leave and still get paid, on the contrary, it’s not the same in freelancing. At the same time, you may choose to take a break in a day anytime, play or do your thing and have no questions unless the work is done. Yes, there are pros and cons of freelancing as well as traditional jobs.
Have a good read of the pros and cons of freelancing vs traditional jobs to make a better career choice;
Freelancing Pros:
Remote Work
You can work from anywhere you want. No VDIs or virtual software monitoring your base location IP address. It’s the best for those who function better working from home. It doesn’t matter which corner of the world you are located in. No commitment is required to work from a specific location. Someone willing to work during their maternity leave is free to do so. Moreover, how cool would it be to travel to any place and continue to work? No stress of asking for leave approval too.
Flexible Hours
A freelancer is free from specific work timings or shifts unless there is a meeting that one has to attend. That is something that happens occasionally. Otherwise, you are free to work as per your schedule. No ad hoc tasks or restricted 7 or 8 hours to log. You are aware of the tasks and their deadlines, so work anytime.
No Annual Leave Approval Required
Imagine one day you don’t have to count the number of leaves or other scheduled commitments. Take your time off whenever you wish to. There is no permission you need.
More Income
Freelancing can generate more income compared to full-time employment. How?
The payment is received on a project basis rather than monthly. On top of that, a freelancer can work on multiple projects at the same time. Depending on your expertise level, the payment can be higher than expected. So, the amount you get paid would be double the money than the monthly salary.
Freelancing Cons
Lack of Income Stability
As a freelancer your income might be better than your salary but, the chances of it being stable are low. There is a possibility you might have projects lined up in a month and no projects in the next month. The scenario would change if you have an ongoing project with some company but it still exists.
Lack of Compensation Benefits
Full-time jobs offer benefits such as leave allowance, paid sick leaves, annual/privileged leave, maternity/parental leave, annual bonus, contribution to your salary and many other corporate benefits, unlike freelancing. A freelancer is responsible for all these costs involved.
Traditional Jobs Pros
Fixed Income
No matter what, an employee is relieved that at the end of the month there is a certain amount deposited in the bank account. It may not match with freelancers’ income but there is a regular cash flow.
Teamwork
You aren’t working by yourself. There is some social interaction and duties are delegated to share the load of the work. One can rely on a team when required.
Better Career Growth
An employee spends a lot of time with their colleagues and gets to meet the senior/executive team too. This opens the door to learning and provides good exposure for them to increase their knowledge along. They get recognition and visibility in the organization which plays a big role in climbing the ladder of growth.
Traditional Jobs Cons
Expected To Be Out There
It becomes an obligation for the employees to be a part of professional events as a part of social life. It does take a lot of time outside office hours which could be exhausting.
No Freedom To Pick Your Tasks
At the end of the day, an employee is reporting to someone in the hierarchy. Hence, it is difficult or impossible to choose your tasks making it obligatory for them to work on them.
Fixed Schedule
If you are not a morning person and need to be at work around 8 am then you have to change your routine.
Either way, one can earn money as a primary source of income, but, you have to choose which suits you the best. Remember, freelancing can also be treated as a second source of income. If you have chosen to explore freelancing and have got the time and attitude to do it, then UpTecHunt can help you to begin this journey.