Being Employed vs Freelancing
Being employed people look to be their boss and work according to the schedule. But freelancers envy the stability and security of salaried employees. You need to consider according to priorities and circumstances. Both of the fields have their pros and cons and what is right is dependent on your work. Here is a comparison between being employed and a freelancer
Stable And Flexible:
Paid employees have the security of their employment contracts. They have a predictable work schedule and predictable income. It helps them for future budgeting. Freelancers will not be paid on a single day or next day or the next week. Their incomes keep fluctuating unpredictably. They can work anytime. They can offer services to multiple businesses simultaneously. They can earn more if they meet the deadlines.
Benefit And Struggle:
There is a big advantage of full-time employees. They can get the benefit of health insurance, paid vacation, PF, and retirement scheme. Companies can organize training which can help them to develop a skill for free. Freelancers depend on their arrangement, they do not get paid leaves while taking their time off and they have to pay for their retirement themselves.
Security And Instability:
Employed persons are more secure than freelancers. They get a regular paycheck every month that they can rely upon. If they get fired then they will receive notice months earlier and will be provided with compensation. Freelancing is pretty unstable. one month you can get lots of work and in the next month you may not get a single assignment. It is harder to plan and manage financial affairs.
Freedom And Control:
Full-time workers have a boss who tells them what are the things to do. They must work with the rules and regulations which can be quite extensive. They have less control over their work. Where the freelancers of all their deeds. They can choose what they can work on and what not to. If the assignment does not interest them they can reject it.
Full-time employees get ready-made social life as they work with the same people every day. They become friends with most of them. Companies also arrange social events and trips for their employees. Freelancers are alone as they work to form their personal space. Full-time employment does not give much time to spend with friends, a family wherein freelancing you can reschedule work and spend ample time with families.
Politics In Office:
In some organizations, there is some sort of power and personality clashes to deal with. In freelancing they do not have to deal with these situations. They are not tied with any company. They can get themselves detached from office politics.
Working in a single company gives you motivation in a structured way. At the end of every year, you get performance reviews which can determine whether you will get a promotion, incentives, or a bonus. Freelancers have to motivate themselves. They need to find their clients, negotiate their contracts. They have to organize things by themselves.