Employment vs. Freelancing: Which Is a Better Career Choice?

Another Zoom meeting that could have been avoided by sending an email. You fantasize about working as a freelancer on your own terms—your own schedule, clients, flexibility, and independence. Isn't it appealing?

Perhaps you work as a freelancer. However, the month had been difficult. You haven't had a constant flow of client business in a long time, and the prospect of a steady wage is becoming increasingly appealing. In the end, all solutions have their own set of advantages and disadvantages, making neither a "better" option than the other. It all boils down to analyzing both job options and using the information available to make the best personal decision.

The Pros and Cons of Freelancing

Freelancing is enticing since it allows you to choose your own schedule and work from anywhere. Many of us have also seen on social media the glamorous lives of digital nomads—those who travel the world while earning money through freelancing. Those influencers, however, don't necessarily get into the meat of the freelancer vs. employee discussion. Let's have a look at everything.

Freelancing Pros

Managing Your Own Business

You're a business owner! New freelancers don't always know that freelancing is running a full-fledged business, whether you're a graphic designer, programmer, writer, or something else. You create your brand, cultivate client contacts, establish company hours, and keep track of your revenue and expenses. One of the most exciting aspects of being a freelancer is starting a business from the ground up.

Working from Home

You don't have to commute to a gloomy workplace every morning. You get to work from the comfort of your own home! Alternatively, you can get it from a coffee shop. Alternatively, you could come from a park. Alternatively, you could be from another country. You can work from anywhere in the gig economy, from the largest city to the most remote alpine town (so long as you have an internet connection). The options are literally limitless!

Flexibility

Flexibility is one of the most appealing aspects of working as a freelancer. Is it necessary for you to take a day off to care for your children? Or do you prefer to run errands? Or are you just doing it because you want to? You're your own boss as a freelancer, and you may create the schedule that works best for you, modifying it as you go. The adaptability does not stop there. You get to work with folks from all over the world instead of seeing the same faces every day in the office!

Set Your Own Rates

You can often earn more as a freelancer than you would if you worked in a typical job. You can establish own rates and raise them as you gain more experience, rather than waiting for your supervisor to adjust your pay. Not only that, but because you have the opportunity to take on as many clients as you like, your annual income might explode compared to people who work the same profession full-time.

Choose Your Projects

You have the choice of sticking to the same types of projects or mixing them up at any time. This avoids the boredom that comes with working as a regular employee. When you work as a freelancer, you have the freedom to seek out jobs that interest you and mix them up to keep your work feeling fresh and exciting.

Freelancing Cons

Managing Your Own Business

Isn't this a professional? Yes. Managing your own company, on the other hand, is a double-edged sword. The most difficult aspect of being a full-time freelancer is learning the ins and outs of running a business. Aside from all the cool stuff, there's a lot of uncool stuff that comes with it, such as keeping track of your finances to pay income taxes, looking for new clients, purchasing your own office supplies, acquiring insurance, and planning your retirement without the help of a company. All of these things are manageable, but they all necessitate a learning curve and the ability to persevere in the face of adversity.

Instability

As a freelancer, you are unlikely to have a steady income. Clients have the option to stop working with you. It's not always easy to get new ones. This implies that while some months may be fantastic, others may be challenging. Any freelancer should be able to cope with unpredictability and instability.

Loneliness

While freelancing allows you to work at your own pace, how you spend those hours can be quite lonely. Every day at work, you'll have coworkers to chat to, people to see, and team activities to participate in. You don't have these things while you work alone, so you have to come up with solutions to deal with the feelings of loneliness that creep into your home office from time to time. This means remembering to get outside, spend time with friends, and recharge so you're ready to take on the next day.

The Pros and Cons of Being a Full-Time Employee

Employee benefits are more well-known, but I'll go over the ones I believe are the most crucial in order to build a clear picture for comparing and contrasting purposes.

Full-Time Employment Pros

Employer Benefits

Employers take care of their full-time employees—health insurance, taxes, paid vacation—and the list could go on and on, depending on the company's quality. Being able to rely on a firm for these things is likely the most significant advantage of being a full-time employee over a freelancer.

Job Security

Working as a freelancer means you never know when you'll get a new client. Employees are unconcerned about these issues because work is constantly available. A steady income is always available. For people who work full-time, consistency and stability are huge benefits.

People

Consider this one pro for the freelancer if you don't like being around people too much. However, if you do, one of the best aspects of coming to work is having others around you. You connect with your coworkers throughout the day, cooperate on projects, and even share lunches. This can make work more enjoyable, and it's something that many people miss now that they're self-employed.

Career Growth

A full-time employee follows a much more typical path to advancement. As a result, you'll be able to get directly into a company, work hard, and have a general notion of what your future holds.

Full-Time Employment Cons

Lack of Flexibility

This is not an option for full-time employees. Employees usually work from 9 a.m. to 5 p.m. and report to their employer only when their boss requests it. This lack of flexibility might exacerbate the stress of working life.

Office Politics

Workplace culture differs from one organization to the next, but workplace politics are always present—even if just to a minor degree. Trying to figure out how to act around particular people, cultivating the correct relationships to obtain that promotion, and other aspects of workplace culture may be tiresome and unrewarding. When working for a corporation, part-time employees, full-time employees, and even independent contractors must negotiate these waters.

Stagnation

Working full-time is a fantastic safety net for all of the reasons mentioned in the benefits section. However, it's easy to become complacent in a full-time job and see little possibility for advancement. Your pay is fixed until you get a raise from your boss or management, whereas a freelancer's earnings can fluctuate month to month. Freelancers, on the other hand, seek for development because it is an important aspect of running a business. While working for a company, employees may not always have the same growth perspective.

Balancing Family Life

Many people got a taste of freelancing and the benefits of working from home after the COVID-19 outbreak. People mentioned how much more time they had with their families at the top of the list. Working a regular 9-5 job keeps you away from your family for long periods of time each day. Furthermore, many days are spent working late in the office to complete assignments in order to meet looming deadlines.

You Can't Choose Your Projects

When you can't choose your projects, you run the risk of being bored at work. One of the biggest reasons people are dissatisfied with their current jobs is because of this. You can soon lose interest in your career if you perform the same tasks every day.

CV Lacks Versatility

If you're employed, you're more likely to stick with a firm and want to advance up the corporate ladder. And, while this was a positive thing for many decades, many employees are being laid off today. Do you have a CV that demonstrates your versatility?

As a freelancer, you work with a wide range of clients on a wide range of projects while utilizing a wide range of abilities. Your CV can provide a more accurate depiction of your capabilities in a shorter amount of time due to the diversity of your experience. Also, because you may seek out new clients to work with, it's a lot easier to put new talents to use.

Making a Decision

When it comes to the freelance vs. employee issue, keep in mind that both freelancers and full-time employees can have a happy existence. Choosing between the two requires assessing the benefits and drawbacks and determining which best fits your ideal lifestyle. If you're a full-time employee considering turning freelance, I strongly advise you to start with part-time side work and term projects before going full-throttle. This will offer you a true sense of what freelancing is like without risking your present employer's stability. If you're thinking about making the switch to freelancing, FlogApp can help you manage your freelance business more easily than before.