Freelancing vs. Full Time Work – Pros and Cons of Each
By Space Coast Daily // July 12, 2021
Unfortunately, we all have to work. Unless you are born into a super rich family or win the lottery, it’s just a way of life. And with work, comes the responsibility of life and making sure you have money to always keep you and your family safe.
And while that intro might not have sounded that exciting, the good news is that individuals now have more of a say about when, where, and how they want to work than ever before.
It comes down to choosing between a full-time job, where you are comfy in your situation, but might not enjoy it 100% of the time, versus a freelancing job where it’s more on your terms, but it can be a bit bumpy at times.
With all of that being said, today we are going to take a look at the many different pros and cons of each situation, while also giving you some unique options and perspectives on each.
Let’s get started!
How to Prepare Yourself for a Freelance or Full Time Position
If you already have a job, perfect! But, what if you are a freelancer and are thinking about making the move to a full-time position? (or vice-versa). In either case, it’s important to know what you are going to need to get started in either scenario.
Right off the bat, a freelancer is going to take on the world by themselves. It’s more of a rebel position and one that needs the necessary time, work and effort put in to see any results. It’s also a good idea to make sure you build a brand, have an online presence and a portfolio to showcase what it is you can offer to others.
This might all seem confusing and overwhelming at first, but it’s actually pretty fun and exciting to get started with. To help in this process, you can learn about Wix’s free business tools and you’ll see that there are many affordable or free tools online that will help you set up your freelance business.
When looking to jump into a full-time position, it’s exactly what it sounds like. You are going to work for “the man” and will be paid on an hourly basis or through an annual salary. In order to get hired from a company, you are likely going to need some college education and working experience (depending on the job). It’s also a good idea to have a resume and some professional references as well.
Explore the Pros and Cons of Freelancing vs. Full Time Work
Now that you’ve had some introduction into how freelancing and full time work compare with each other, it’s time to look at some of the many pros and cons of each. We could literally sit here and make comparisons all day, but the choice will ultimately be up to you.
Freelancing is all about being in control of your own destiny and putting your skills, expertise and work ethics ahead of you. And it also comes with the huge benefits of being able to work from home, while also working around your own schedule.
■ The ability to work your own hours and from anywhere
■ Micro-job sites and marketplaces can provide work
■ Scaling from one niche market or service to another
■ Not having to drive in or commute to work every day
■ Using social media to grow your brand and reach
■ Possibly becoming an expert and big talent in your niche
■ You only make money when new work comes in
■ A very competitive market for newbies
■ Earnings come and go as new clients do
■ No company contributions towards 401k or retirement
Full-time work positions should never be taken for granted, even if you are currently in one that you don’t love. Of the many benefits associated with full-time work, you know what your job is and how much you are going to get paid for it.
This stability and consistency is why most people jump into this space, and stay there until they retire.
■ Earnings are received for the time you work
■ Health insurance is usually included
■ Part of a team and not working on your own
■ The ability to grow and move up in a company
■ Stability and not worrying where your next payment is
■ Company bonuses paid out on performance
■ Possibility of retirement and 401k contributions
■ You must work whenever you are required to work
■ Transportation to and from your work location
■ Bringing your work home with you and not getting paid extra
■ Dreading the thought of a new work week starting up
How to Choose Between Freelancing or Full-Time Work
At the end of the day, the decision is ultimately up to you. There is also a very big difference between the two and there is no right or wrong answer — however, everyone is different and might have a completely different interest in the alternative.
Some people hate the idea of going into work every day and doing the same thing, while others would have no idea how to jump into the world of freelancing and fight for new clients and incoming revenue on a daily basis.
In order to truly answer this question, you must look at each of the Pros and Cons listed above, and then see which one tilts more in your direction. It’s also important to consider where you want to be in the next five or ten years, and how your decision may fit into that scheme.
With so many different resources on the internet today, it’s important to put in the time and effort to make the right decision. And if all else fails, you can also jump over to the other side at any time.