For you who is in college now or just graduated and wondering what should you do in our life this article is for you. Everybody has their own life path no one is better than others. Maybe someone looks brighter in terms of money and job title achievement but actually that person is not really happy. While some others might look jobless but actually make money from home. Either you are still figuring out your career choice between Freelancing and Employment or you just want to quit your current full-time job. We will explain to you the pro and cons of being a corporate employee and freelancer.
If currently you considering to quit your job to work for yourself. After all, it appears that everyone else is doing it lately. This trend is growing more pronounced year after year as the gig economy expands. Is that, however, a good idea? Here are advantages and disadvantages Freelancing and Employment that you should be aware of if you’re considering making the transition.
Freelancing and Employment Pro and Cons
Being Full Time Corporate Employees Pros
- Stable Income
The most obvious advantage of working as an employee over as a freelancer is the financial security it provides. A consistent monthly paycheck allows you to relax, knowing that your future is secure and your finances are predictable. You would be compensated even if the company did not produce any profits this year.
- Easier in Budgeting
Budgeting for your household will be simple because your income as an employee is consistent and predictable. You can set aside a percentage of your salary for needs, wants, savings, investments, and emergencies.
- Compensation and Benefits
Taxes, Paid vacations, reimbursements, allowances, parental leaves, health insurance, retirement plans and pensions, and other benefits may be included. These compensations are usually inclusive when you are working with a company. These benefits might the most crucial thing to consider in this Freelancing vs. Employment career choice.
- Career Growth
Career Growth can be an advantage or not depending on how you look at it. However, for most workers, knowing that they will receive consistent increments in the form of raises is sufficient motivation and reassurance to remain with their employment.
- Social SkillsDevelopment
Working at office is Improving your social skills because you are constantly conversing with your coworkers. You are exposes to an environment where you can improve your social skills, whether it’s about something work-related or something completely different.
Being Full Time Corporate Employees Cons
- 8-5 working hours
One of the most inconvenient aspects of having an employee is how it dictates your entire schedule. There are set working hours that you must adhere to. Unless your company has provided you with flexible work hours, your employment will have a significant impact on how your day goes.
- Fixed Salary With Slow Increments
Negotiating a pay in an interview and then having to keep to that figure for the rest of the year is not a pleasant experience. While a steady salary provides security, it also places a restriction on your advancement because you must wait an entire year for a possible raise.
- Must Commute to Work
Commuting to work is inefficient in three ways: it wastes your time, energy, and money. It’s a lose-lose situation because it not only consumes man-hours that could be spent doing your job, but it also exhausts you and requires you to spend money on fuel. Commuting will be a challenge unless you work remotely.
- Yes Boss
Yes, Boss is a must, many managers and supervisors micromanage their subordinates, that is, they monitor the tiniest of their acts and blame them for not doing something in a certain way. In other words, they want it the way they want it, not the way it is most comfortable and natural for you.
- Bound by Corporate Policies
As an employee, you are bound by your employer’s terms and policies. While some policies are more flexible than others, you usually don’t have much influence over those decisions. And if you do not strictly adhere to the policies, you may face consequences.
Being a Freelancer Pros
- Flexible Hours
When you are freelencing, you are not limited by the fixed working hours that an employee is. You have the freedom to change your schedule and work when you feel most productive. This kind of adaptability is especially important if you are a student, a stay-at-home parent, or simply do not like getting up in the morning.
- No Commute
You can save a lot of time if you don’t have to commute to and from work. This extra time you now have at your disposal might be spent with loved ones, on additional tasks, volunteering, or simply relaxing and engaging in leisure activities.
- Control Over Income
Freelancing gives you that control and the freedom (and responsibility) to make your own decisions. Self-evaluation and market research can help you determine your rates. Meanwhile a steady salary is nothing to be taken for granted as an employee, power over that money remains in the hands of your employer.
- All Profit for You
You are the boss of yourself, there is no need for an intermediary because you sell your services directly to your clients. This means that the cash created by your effort is totally yours to keep and is not shared with an employer. Whatever you acquire through your hard work is yours to keep.
- Your Work is Your Terms
The ability to operate by your own rules is perhaps the most liberating aspect of being a freelancer from the battle of Freelancing vs. Employment. You are not required to follow an employer’s policies; you have the authority to design and write your own terms and negotiate them with your clients in order to close a contract.
Being a Freelancer Cons
- Less Financial Security
Because their income is not guaranteed, freelancers do not have the same level of financial security as employees. You are compensated for your labor, not your time. This uncertainty makes budgeting difficult. This is might be the hardest thing to be a freelancer in this Freelancing vs. Employment career comparison.
- Unstable Workloads
As an employee, you understand what is expected of you; your workflow is somewhat stable and predictable. When it comes to freelancing, this is not the case. You can be swamped with work one month and struggle to locate tasks the next. You may alleviate this inconsistency by encouraging your customers to remain loyal.
- Keep pushing yourself to work
Being a boss is nice, but it comes at a cost. Even if you don’t have a boss instructing you what to do, you might be able to fill that need on your own. It can be difficult to enjoy your leisure time if you continually thinking yourself, “I could be working right now.” Make a schedule to assist you prevent this.
4.Prone to Loneliness
Because you don’t have coworkers to connect with, freelancer can feel lonely after a time. While you may enjoy your solitude, losing track of your social life might lead to feelings of isolation and anxiety. Setting aside time to see loved ones or do volunteer work is an excellent strategy to combat this.
- Many Responsibilities
Writing is simply one aspect of being a freelance writer. As the single proprietor of your company, you are in charge of marketing, information technology, customer service, human resources, accounting, legal, operations, administrative, purchasing, and so on. All of this can be really overwhelming. If you have the budget, it’s a smart idea to hire professionals to delegate some of these obligations.
You have read all the pros and cons of become Freelancing vs. Employment. Now the choice is yours, are you the type person who prefer freedom rather than money ? Or do you prefer steady and safety income and career track ? Everyone has their own preference in career choice depends on what are you looking for in life.
Flexgigzz is the Asia leading marketplace for freelancers service and together with SOHO Learning Hub which is an online platform for short courses and both of them aims to be the number one provider in Asia. For growth industries such as E-Sport Authority which is dedicated to providing independent media coverage to all E-Sport News related from around the world and for the art world, there is Atelier Auction which is an investable art auctioneer and being in the art scene for decades.