Is freelancing a better alternative than a full-time job?
Freelancing has been surging in popularity, especially after the pandemic, which has taught people the importance of spending time to themself and with their families
There is a massive trend of people leaving their current full-time job and opting for freelance or part-time opportunities. But the question remains, is freelancing a better alternative to regular jobs? Or in the long run, it creates more issues than it solves.
Stability vs Flexibility
When considering the pros and cons between freelancing and a full-time job, the main differentiating factor remains how stable or flexible you want your job to be. A full-time job offers the security of a job contract, a consistent work schedule, and a predictable paycheck, which allows them to budget for the future. While freelancers will not be paid for any days, they do not work, and there is typically no assurance of employment the next week or day. Their earnings are constantly shifting. They do, however, have the flexibility to work whenever and wherever they want. They set their own working hours and can even provide services to many companies at the same time and earn additional money if they reach the agreed-upon dates.
Most full-time jobs have other added employers benefits alongside their regular wage like health insurance, paid vacations, sick leaves, parental leave when you have kids, and retirement benefits. There is also training events to improve skills that the company finances.
On the other hand, Freelancers are of their own; they have no other benefits and have to finance all their needs and skill development all by themself.
Security also plays a major role in choosing between full-time and freelance jobs as full-time employees are more secure than freelancers since they receive consistent monthly payments. Even if you are fired, you will be given notice a few months in advance or be compensated somehow.
Freelancers, on the contrary, do not have any fixed income, and their earnings vary significantly from month to month, meaning it is not secured at all. Freelancer may also lose their regular client or find their job getting canceled without any notice or compensation.
Control and freedom