Advantages and disadvantages of Freelance Jobs
Advantages and disadvantages of Freelance jobs:
Freelance Jobs and Full-time Jobs are like two sides of the same coin. Being a freelancer is much more than just that image. If you’re in a field that offers self-employment opportunities, and you’re considering to choose a freelance job, it’s important to sit back and take a hard look at the pros and cons of becoming a freelancer. There are many things in life, and they are more likely to play freelance, and you can decide whether you like it or not.
Freelance job has several advantages. Following are the Top five reasons are among the main reasons why people decide to choose a full-time freelancer job:
Advantages of freelance jobs
- Work whenever You Want : In a freelance job, you can work whenever and wherever you want. For many people, working nine to five hours is one of the most productive and effective hours. In a Freelance Job, if you work better in the early morning or late at night, you have the freedom to adapt your work schedule to your best, most productive time. You also have the opportunity to adjust your schedule so you can better live your life. Have you seen your friend in college in the near future? If your time allows, you can plan a long and enjoyable lunch with him to try to catch up. And medical and dental appointments? You cannot be busy during the day.
- Work wherever you want: Freelance Job, these days does not affect your travel time from one hour to zero minutes. With the increasing connectivity of our everyday world, it’s not just the opportunity to work from home, but also in their hometown, at the local Starbucks, in a park on a beautiful spring day. If you are more adventurous and do not need a job at your workplace, you could find yourself in a growing world.
- You are your own boss: You know what you love and what you do best, but when you work for someone else, none of these matters to your supervisor or manager. When you are a freelancer, you are responsible for the assignments you accept. You build the career you want. Of course, you sometimes work on projects, but it’s a choice to choose a freelance job. Unlike an employee, you have the freedom to fully control your work and who you work for.
- You have more income potential: Nothing is more discouraging than discovering, as an employee, who bills a customer who is willing to pay a fee. In a freelance job, you get paid for your work. Your income is not capped by your hourly or wage rate either. The more you strive to find customers and land, the more you have the potential to do it.
- You can enjoy more tax deductions: In a freelance job, you’ll be able to deduct a lot more, deductions that are not available to employees. Deductions you can apply to your business Costs. There may also be freelancers, so it may be a country that will consult your tax expert and / or your financial planner to see how freelance job might affect your taxes.
Disadvantages of freelance Jobs:
There are also many disadvantages of freelance jobs. In conducting your own risk-benefit analysis, you should pay particular attention to each of the following:
- Work more than your previous salary: In freelance job, too many people make the mistake of assuming that they are fine if their freelance income matches the one they earned when they were employed. To succeed as a freelancer, you must calculate an hourly rate or per project that gives you an annual income that does not only match your previous salary, but also includes the cost of any benefits you receive. no longer receive. Depending on the generosity of your previous employer, these benefits may include such things as paid sick leave, health insurance, 401 (k) contributions, vacation pay and disability insurance. You must also include an amount for the expenses you will incur to run your own business.How much do you charge to be properly compensated for the value of these benefits and other costs? This will depend on many factors, including the industry you work in and the type of benefits your previous employer has provided you with. In general, you may need to earn between 2 and 2.5 times your previous full-time base salary (the multiplier varies depending on your personal circumstances) to take into account the value of employee benefits. give up as a freelancer and all the other expenses you have to pay to run your business.
- Multi Tasking Work load: In a freelance job, you need to do multi tasking. While you offer a specific service to your clients, as a freelancer, you will find yourself spending a certain amount of time every week on business activities you have never had to do before as an full-time employee. Not only will you be responsible for the work that your client has hired you, you will also need to do all the necessary administrative work, such as billing, paying bills, and handling other accounting issues. You will also have to do your own sales, marketing and advertising. Overall, it is likely that you spend at least seven to ten hours a week on these extra, unfortunately un-billable activities.
- Unstable Income in a freelance job: Your rent or mortgage must be paid monthly, you must buy food every week, the payment of the car must be made – unfortunately, none of these costs will adjust to your current cash flow. As an employee, you can count on a regular salary, but in a freelance job, unless you have the chance to find a few clients with regular and consistent work for you, the money you receive will enter not. arrive uniformly. You may have four or five times this month’s rent in the next 30 days, but unfortunately it will not matter much to your landlord or the bank the day your rent or mortgage is of.
- Self Promotion: When you are employed, you go into work and someone will give you work to do, where as in a freelance job, you do not have that luxury. From time to time, especially once you are established as a freelancer, you receive an email or a call from a potential client who has heard about you by word of mouth, but in most cases, it are you who have to do it. the steps to obtain these freelance jobs. Whether it’s going to independent job sites – there are many online, especially in the creative industries, such as freelance web developer jobs, freelance web design jobs, and jobs online writing – or through a good old-fashioned network, it is up to you that it will pay the bills.
- Sole Responsibility: You will not have the luxury of passing on customer or office problems to someone else. In a freelance job, the proverbial Buck stops with you. In addition to dealing with the occasional deadbeat customer (this even happens to the most cautious) and appeasing the angry customer, you will also have to deal with issues such as office equipment malfunction and missed payments. Thus, when your laptop falls in love with the blue screen of death, there will be more computer specialist at your disposal to solve the problem for you or to offer you a new one. And when a reasonable customer so far proves extremely demanding, yes, it is unfortunately you who will suffer the repercussions.