After completing their education, one can take up a traditional 9-to-5 job or become a freelancer. Both options have unique benefits. For instance, a 9-to-5 office job provides a stable income and an opportunity to network with colleagues. On the other hand, freelancers can work from anywhere and at any time. Choosing between freelancing vs. traditional jobs requires some thought. One will need to compare the benefits of both before deciding what works for them.
Benefits of freelancing over a 9-to-5 job
There are several reasons why many people choose freelancing over a full-time job.
Flexible work hours
People working in an office usually must show up at a fixed time. Some like having a fixed schedule as it helps them stay organized and plan their day. However, some also feel time-bound shifts stifle their creativity. If that is the case, freelancing is a suitable option. Freelancers do not have to visit an office or start their work at a fixed time during the day. They can work from anywhere and anytime as long as they finish their projects before the deadline. Their clients allow them this flexibility and control. Freelancers can also take up projects throughout the year or only during particular months. Some even opt for long weekends and compressed workweeks for better work-life balance.
Full control over earnings
A freelancer can earn as much as they want. Unlike traditional jobs, there are no earnings caps in freelance gigs. Freelancers who work long hours can increase their earnings exponentially. While traditional office jobs sometimes pay for overtime, the extra amount may not be significant. That’s one reason people consider taking up freelance projects instead of a salary-based job.
Bandwidth for other part-time jobs
As freelancers get to make their daily schedules, they can allocate their time to work on a variety of projects across different companies and industries simultaneously. This increases their income streams and provides them the exposure to enhance their skills, improve their communication and negotiation abilities, build a diverse portfolio, and prevent the monotony that traditional 9-to-5 employees occasionally experience.
Things to consider before freelancing
While freelancers enjoy a lot of benefits, one should consider a few things before pursuing this type of job.
Possibility of burnout
As freelancers are not bound by a fixed schedule, they must be disciplined and ensure they finish their work on time. People sometimes take on too many projects only to realize they cannot handle them, which leads to burnout within a few months.
Risk of isolation
Many freelancers work independently, which sometimes causes them to feel alone and isolated. Full-time employees can build lasting connections and friendships with their co-workers at their workplace. Unfortunately, freelancers miss out on this. Isolation can limit freelancers’ career growth and networking opportunities.
Finding clients can be difficult
Freelancers must find their own clients who will pay them for their work. Building a reliable client base takes weeks and months if not years. For freelancing beginners, doing so can be challenging. Finding clients requires freelancers to possess exceptional networking skills and marketing acumen, two competencies that take time to hone and self-develop for many.
Benefits of traditional jobs
Like freelancing, working in a traditional office space has its own set of advantages.
Employee benefits
Organizations that hire employees to work full-time offer them exclusive benefits, such as wellness insurance, compensation packages, retirement contributions, and paid time off. These benefits keep employees productive and encourage them to stay with the company for longer. Freelancers do not enjoy these benefits, which can be hard to accept for some people.
Clear career progression
Freelancers can choose their work hours and take on additional projects to earn more, but their jobs aren’t stable. A full-time job provides employees with a predefined corporate ladder/structure and the know-how regarding how to scale it. Full-time employees who work hard can be promoted to higher positions over a few years. Unfortunately, freelancers mostly do not have a corporate ladder or hierarchical structure by which they can track their professional progress.
Accessible office space and perks
Conventional jobs let workers access typical office amenities such as loaded vending machines, ping-pong tables, in-office libraries, and subsidized meals. Other perks include membership points that can simplify flight and accommodation bookings. Freelancers do not enjoy these perks and benefits.
Things to consider before working a 9-to-5 job
Regular jobs also have a few considerations that may make freelancing seem better.
Exposure to office politics
Politics is part of most workplaces. Full-time workers in an office are likely to expose themselves to these unsavory attributes, which can take away one’s peace of mind. Office politics occasionally thwarts the professional progression of individuals and breaks their morale and sense of self-worth.
Reduced versatility on worker resume
Although working in multinational corporations looks good on one’s resume, the list of skills and competencies tends to remain stagnant for a large percentage of people working in traditional 9-to-5 jobs. Freelancers have greater time, freedom, and bandwidth to invest in several vocations and develop diverse skills.
Boredom
Spending 9 to 10 hours at an office desk every day, day after day, for months and years can chip away at the joy and vibrancy of employees. Stress and boredom are commonly experienced by people working in traditional 9-to-5 jobs. Boredom also dissolves any sense of creativity in full-time employees.