The Benefits and Drawbacks of Working Full-Time vs Freelance

When it comes to freelancing vs. full-time employee job, the biggest benefits of one are frequently the biggest disadvantages of the other.

In an ideal world, we’d all have unlimited paid vacation, flexible hours, unending perks, and complete job happiness.

However, while freelancing is not for everyone, if you’re debating whether to stay in a safe, stable job or strike out on your own as a freelancer, here are some things to think about before making any major decisions.

Time:

You have some spare time. It’s time for me. It’s time to truly concentrate on the job at hand. It’s time to start looking for new clientele and tasks. It’s time to take control of your career. As a freelancer, you have all the time in the world, which must be rapidly filled with paid work. When you consider the benefits of freelancing, such as managing your own schedule, working from cafés, shared workplaces, or even the sofa, and making time for coffee with friends in between pitches and meetings, time is the most valuable asset and luxury each of us has.

Time is valuable, yet as a freelancer, you may feel like you don’t have enough of it. To avoid burnout and being “on” 24 hours a day, it’s critical to strike a work/life balance.

In the long run, the consistency and structure of checking in in the morning and clocking out in the evening without a care until the next clock-in time creates more free time.

Control:

As a freelancer, being in charge of your own workflow is one of the most satisfying and freeing elements of the business. It’s a real luxury to not have a boss (but yet being accountable to clients who pay your bills). However, like in an office, having a team around you to bounce ideas off of and a talented team of experienced individuals guiding the team forward has its advantages.

When it comes to control, it’s also not part of your job description to oversee every facet of your company’s operations while working full-time. You share responsibility among your coworkers, and no single person is responsible for every issue. When working as a freelancer, however, it’s a different story.

Workflow:

Working in a team and reporting to a manager might make you feel like you’re juggling a never-ending to-do list.

Deadlines, meetings, and reports pile up one after another as you fantasize about that summer vacation that passes in the blink of an eye before the cycle repeats itself. It’s true that having control over your own workflow is a huge benefit of freelancing. When you’re busy and comfortable, saying no to initiatives, chances, and job offers is a lovely luxury… However, when the work stops coming in and the offers stop coming in, and you’re worried about not having enough employment, it might add to your anxiety.

Admin:

Isn’t it great to submit your personal information, sign a contract, and know that in exchange for the work you do, you’ll get a regular pay, paid time off, a few extra perks, maybe even an annual bonus, and a few of staff social events during the year? All for a small amount of administrative effort on your part — Human Resources will take care of the rest.

You are the creative, the manager, the receptionist, the accountant, the supervisor, the intern, the HR department (if you wish to expand your company), and so much more as a freelancer. Yes, there are resources and support available to help, but expect to be the captain of the ship, spending the majority of your time chasing bills, filing taxes, and being surrounded by paperwork.

Diversity:

One of the best things of freelance life is getting to work with new clients, diverse requirements, exciting projects, and fun partnerships. It can offer a diverse range of tasks that keeps you energized, on your toes, challenged, and happy in your job.

If you aren’t consistently pushed or empowered with diverse work, full-time employment can get very monotonous. Is it necessary for you to quit your full-time job and work as a freelancer to address this, or do you need to sit down with those in control at your full-time employment and explain your situation and how it could be improved?

Loneliness:

We’ve all been there: stuck at work with irritable coworkers, yearning to be somewhere else, preferably on a peaceful island by ourselves. However, being confined to a one-person team is a significant component of being a freelancer.

So, while you might miss the companionship, the meaningless banter at the coffee shop or the hum of everyone talking in the office while you’re trying to focus on getting something in before the deadline may be something you take for granted.

There’s a comfort in being part of a team, and there’s a harsh loneliness when you’re alone for the most of the time. As a freelancer, everyone’s work circumstance is different, but loneliness is becoming more and more of a disadvantage. Isolation from others can be a problem, so freelancers should schedule activities that involve meeting and being around other people on a regular basis, such as scheduling a yoga session twice a week, taking a cooking class, learning a language for a semester, prioritizing friend get-togethers, or attending networking events.

When it comes to work circumstances, the positives of one might frequently be the negatives of the other. When it comes to deciding between full-time job and self-employed freelancing, there are several advantages and disadvantages, benefits and downsides, risks and possibilities.

You must first ask yourself, “What do I want out of this situation?” Control over my profession, variety in my work, setting my own hours, dealing with solitude, admin, and every day-to-day aspect in order to potentially achieve on my own? Or, being a member of a team with a steady paycheck, benefits, and structure but in a function that may or may not be fulfilling, routine, and requiring you to work to someone else’s schedule? Only you have the ability to respond to the questions…