Salary or Freelance Job: Which Is Better?
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More and more people sink into a reverie whether freelancing is better than salaried employment. Actually, the answer is not simple. Both have pros and cons and to make the decision, you should compare several aspects, like flexibility, stability, control over your work, community and others. Here are just several things to consider.
Benefits of Salaried Employment and Freelancing or Working in House
Salaried EmployeesA huge advantage of salaried employment is the access to such things as parental leave, pension, health insurance, paid vacation time and so on. Besides, many companies organize events for the employees and provide access to certain discounts, free gym memberships, subsidized company cafeterias and other benefits. In addition, companies usually have a budget for training so that employees can develop their professional skills for free.
FreelancersWhen you choose freelancing, you are on your own. You do not get paid if you take time off, you have to arrange the health insurance and plan for your own retirement. However, as a freelancer, you are the only person who is responsible for your work-life balance, and you can manage your time by yourself.
Security and Stability
Salaried EmployeesIn general, salaried employment is more secure than freelancing. Employees get regular paychecks, and they can rely on them every month. Even when an employee gets fired, his/her employer usually provides him/her with some compensation.
FreelancersFreelancing is very unstable. One month you may be swamped with orders and the next one, you cannot find even a couple of assignments. For this reason, it is often hard to plan and manage the financial affairs. Even if you have regular clients, chances are that you will lose them one day.
However, those people who are employed usually have all their eggs in one basket, and losing their job is literally a catastrophic event. Freelancers always have many clients, and if they lose one, they simply rely for the income on the others until they find a replacement.