Freelancing vs Full-Time Employment: Which One Should You Pick?

Freelancing vs Full-Time Employment

Is freelancing better than a full-time job or vice versa? Find out what fits your lifestyle!

Whether you are a young working professional or an experienced employee with a big-league company, the quest to find the perfect balance between your work life and your personal life is a challenge for most. 

If you are confused about what suits you better, freelancing or a full-time job, we can help you make a choice. 

Freelancing

Defining exactly how you want to work

For those who want a life where they decide exactly what they do and how much time they want to spend doing it, freelancing is a way to go. A freelancer is a self-employed person taking on projects with various companies. If you choose to become a freelancer, you will no longer be tied down to a specific location every day from 9 to 5 (or even longer), making it possible to work from anywhere you like! 

Being a freelancer also gives you the flexibility to choose not just where but also when and for how long you work. You can work as little or as much as you like and pick meaningful projects. Full time freelancers earn around US$22 an hour as of 2020 and are reportedly more satisfied with their work.

Some typical freelancing jobs include web design, computer programming, writing, videography and copywriting.

Inconsistency and no benefits 

All is not fun and games in the freelancing world. The cost of flexibility is an inconsistent income and hustling day after day looking for new gigs. Another key concern faced by freelancers is the lack of benefits. Unlike full-time employees, freelancers don’t have paid time off and have to create backup plans for any time they need a day off or are unable to work.  

Full-time work

Social security, job security and a sense of community

Those who love stability and a structured life might want to go for full-time work. Full-time employment provides you with a fixed schedule with regular working hours so that you can plan the rest of your day around it. A full-time job also means a fixed monthly income, which means that you don’t need to actively look for clients to work with. Besides, you also get benefits, such as medical insurance and paid leave

A full-time job also comes with the benefit of having a community to work with and a sense of belonging. If you ever feel like you can’t tackle a problem alone, you can simply ask your co-workers for advice. 

Some jobs that are typically full-time include financial analysis, administration and human resource management.

Too little free time to socialize

The structured work routine and regular salary of a full-time job come at a cost. If you have a full-time job, you can’t always make time for a social life. As a full-time employee, most of your waking hours are occupied by work, which means you only have weekends and after work hours for your friends or family. It also means that each day rarely varies from the other, unlike being a freelancer which allows you to decide what you do every day. It also means that you might often find yourself embroiled in office politics.

So now that you know all this, which one should you go for? The answer isn’t quite as simple as picking one or the other on a whim; it entirely depends on what you are looking for. If you are looking for more flexibility, freelancing is definitely the way to go. However, if you have a family to support, employer benefits for a full-time job can be too hard to pass on. 

Header image courtesy of Freepik

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