Pros and Cons of Freelancing
What do we mean by freelancer?
Freelancing means that work independently rather than working as an employee. Freelancers are typically considered independent employees who can perform their contract work full-time or part-time to support full-time employment, depending on their schedule.
A freelancer usually works in the creative, skilled, or service industries, such as film, art, design, editing, copywriting, proofreading, media, marketing, music, acting, journalism, video editing, production, illustration, tourism, consulting, website development, computer programming, event planning, photography, language translation, tutoring, catering, and many other fields.
The pros of freelancing
The following points can highlight some of the benefits of becoming a freelancer.
One of the most important advantages is the independence and flexibility it provides. Freelancing might offer safe refuge if you’re restricted due to childcare responsibilities or concerns about work-life balance. Depending on your field, freelancing enables you to choose your hours, how long you work, or where you work.
This can be a significant benefit since freelancers can spend time with their families or care for their children while still working. Remember that management is essential, and you’ll need to put in a significant amount of time to make your freelance business successful.
If you work as a worker, you will most likely only get a slight rise in your salary per year, if at all. When you work as a freelancer, though, you have more negotiating power. Of course, you must offer reasonable prices, but you can earn more money if you position yourself as an authority on your subject.
It also means that the more you labor and the greater the tasks you take on, the more money you’ll make. Furthermore, if you operate your firm as a limited company, you will almost certainly pay less tax than if you were an employee.
- You can be your boss.
If working for someone else makes you feel bound in your career, freelancing may be right for you. You make all the decisions, from your work hours to your chosen projects. For some people, this is liberating and helps them to flourish. If you want to be a successful freelancer, you must be self-assured, ready to learn, and capable of managing a business.
- There is no need to travel.
Working from home may be an option, depending on your industry. Another fantastic feature of being a freelancer is the ability to perform from home. You can entirely avoid long drives to work and use that time to work or do other things that require your attention.
Some commuters can eat up hours of your day, can be long and stressful, and leave you in a foul mood even before you arrive at work. Working from home has its advantages, but it also ensures that you work successfully and effectively from home.
- Build skills.
As the boss of your freelance firm, you will be encouraged to improve your skills. This might be a fantastic way to broaden your thoughts and improve your overall abilities. Furthermore, if you concentrate on a specific specialisation, you can develop your talents and become an experienced professional.
- Choose your partners carefully.
As an employee, you have little to no choice in who you work with. Your supervisor will hire people they believe are the best fit for the company. You are not compelled to work for people you hate or deal with a terrible co-worker. You can create your own rules as a freelancer and work with people and customers who are a good fit for you.
This does not rule out the possibility of working for a problematic or irritating customer occasionally. However, if they truly make your life challenging, you will have the choice of not dealing with them again.
The cons of freelancing
Along with benefits, there are disadvantages of freelancing too, such as
Ø Unusual income
If you leave behind a job, you leave behind the assurance it provides in terms of steady income. This is undoubtedly one of the most significant disadvantages of earning a freelancer.
Freelancers must always plan and be concerned about the next task. To gain employment, freelancers must always be actively communicating with potential clients. However, if a freelancer has a few regular customers, it relieves the stress of constantly looking for work.
Ø Admin duties
As a freelancer, you may assume you only work for customers and do the work in your field. For example, you could expect to undertake just photography-related work if you’re a freelance photographer. However, as a freelancer, you are effectively a business owner, and you will also need to perform administrative tasks. This includes handling business funds, tracking down invoices, and so on.
Working as a freelancer by yourself can be isolating. The office can be noisy and full of distractions such as co-workers, yet you may discover that working alone isn’t as enjoyable as you thought. Colleagues might sometimes be an essential element of your support system.
How to Make a Living as a Freelance Photographer Photography is just one example of how the skill and technique of taking photos can be used in a wide range of areas and enterprises.
Everything from broad (professional) uses, such as capturing photographs for calendars, advertising/marketing purposes, or images for collectors/dealers, to particular uses is included in the field of photography. You will need to establish your network as a freelancer actively.
Ø Lack of employee benefits
This is also another major drawback of freelancing. You will not be compensated if you take a vacation or are forced to take time off due to illness. This means that freelancers should keep an emergency fund on hand if they cannot work or need to take time off. Other corporate advantages may include pension plans, private healthcare, and other perks that freelancers will not have access to.
Does freelancing count as work experience?
Freelancing does not depend on work experience because it usually means working without benefits.
On the other hand, freelancing is comparable to job seeking in that you must look for possibilities, tasks, and projects that match your talents. Yes! The most effective method is to obtain the most relevant prior work experience.
However, there are drawbacks: freelancers have less stability than full-time workers. Therefore, they are more vulnerable to economic risks.