Full-Time Job or Freelancing: Which one is the Best?
Is full-time employment better than freelancing or vice versa? The truth is both have some good sides and some bad sides, making neither a definitive ‘better’ option than the other. So, which one should you choose to find the perfect balance between your professional and personal life? Let’s find out.
Imagine your perfect workweek.
Do you work as a full-time employee for one organization or collaborate with various clients? Are you working from the office or remotely? How much flexibility do you need every day? How many days do you want to work in a week?
Whether you want to work as a freelance or full-time corporate employee, it all depends on your lifestyle, personal work preferences, and what you wish your workweek to look like.
Working as a full-time employee or freelancer, both have pros and cons. So, what’s the difference?
While freelancers are open to many work possibilities, such as working with as many clients as they want, creating flexible schedules, and offering services directly to clients, corporate employees generally work full-time for a single organization and get paid monthly or weekly with additional benefits.
Are you struggling to choose your fighter? Don’t worry. By the end of this post, you will be able to pick which job option is right for you. Stay tuned!
What is full-time employment?
Full-time employment has its advantages and disadvantages. If you are happy dedicating your workweek to a single employer and comfortable with salaried pay, full-time employment is the best option.
Benefits of full-time employment:
Stable source of income, weekly or monthly, plus financial securityStable source of income, weekly or monthly, plus financial security
A full-time job provides set working schedules
Opportunity to inculcate new habits and self-discipline and make your career grow
Additional perks like a gym membership, cultural days out, yearly bonuses, mobile allowance, and many more.
Complete coverage of social package benefits
Opportunity to work with a team.
Great retirement options.
Disadvantages of full-time employment:
Full-time employees may face difficulty in balancing their personal life
You may become super comfortable with your daily routine
Your CV may lack variety and versatility
Full-time employees are more prone to work-related stress
Fewer opportunities to work with multiple clients
What is freelancing?
Working as a freelancer has merits and demerits – what might be a disadvantage to some might benefit others. Nonetheless, choosing freelancing as your career option solely depends on your goals and needs.
Benefits of freelancing:
Be your own boss and work according to your own schedule
Work from anywhere across the globe
Freelancers have control over their salary
Try new things or cultivate new skills that you may not be able to acquire during a 9 to 5 job
Work independently with any number of clients or pick jobs of your choice
Disadvantages of freelancing:
Starting off as a freelancer can be challenging with an already-established network
No one, senior or management, pushes you to improve or learn new skills
No one will review your work before sending it to the client. Sometimes, the client won’t offer feedback, which means it is up to you to look out for ways to improve yourself
Taxes can be challenging and expensive as they need to account for income and expenditure separately
No paid leaves
Work is guaranteed or constant
Which one is better?
Well, there is no one-answer-fits-all for this question. It depends on your preferences and lifestyle. We cannot say one choice is better than the other. Both are just different in their own ways.
If you are motivated to seek an independent lifestyle and want to pick jobs and clients of your choice, freelancing should be your go-to option.
On the other hand, if a perfect routine and stability are your choices, nothing can beat full-time employment. It decreases your stress and helps you live a more comfortable life.
In the end, it’s all about finding the ideal fit that suits you and your life.
List of questions to help you decide
We have compiled a list of questions and tried to answer them from the perspective of both a freelancer and a full-time employee. Let’s have a look.
1. What motivates you?
Full-time employee – Financial security and job stability are two vital things for me, and I can achieve that with full-time employment. I love knowing that I have steady pay coming in each month, irrespective of how much work I did that month. Safer bet.
Freelancer – I love working independently. I like how I have complete control over choosing the projects I want to work on. For me, freelancing is a great work-life balance where I can work remotely and travel whenever and wherever I want.
2. Are you comfortable working in a group?
Full-time employee – That’s my favourite part of the job – working with others. I am kind of a social bee and love having friends at the workplace. Basically, I prefer to be part of a team rather than working alone.
Freelancer – It’s fine with me to work in a team, for example, when I have to collaborate with the client’s team. However, that’s not a dealbreaker for me.
3. What does your savings look like?
Full-time employee – I get a fixed monthly income; out of my total salary, I deposit a fixed amount of money as savings. So, if I started freelancing, I would need to earn what I earn at the moment to cover my expenses.
Freelancer – I have enough savings and can comfortably pay my bills for the next three months without working. But after that, I’d need a steady income source.
4. Are you comfortable working directly with clients?
Full-time employee – Talking directly to clients is not my favorite part. I prefer working behind the scenes.
Freelancer – Talking directly with clients and getting their feedback is rewarding. It allows me to ask questions and work according to their specific needs.
5. Are you serious about work?
Full-time employee – Definitely. I’m disciplined when I know there are deadlines and I have to answer my manager for work. My manager and colleagues know how to motivate me.
Freelancer – I’m disciplined and self-motivated towards my work, even when no manager is checking in. My time management skills are great and I don’t procrastinate.
Whatever option you pick, it’s essential to ensure that your choice suits your lifestyle and helps you maintain a healthy work-life balance. Build boundaries and give yourself time to live. Work isn’t everything. You need to spend time with your family and indulge in activities you enjoy. Make sure you plan out everything beforehand.
Think about what do want to do in the future. What are your dreams and which job option can help you fulfil them? For example, if you want to open your company, freelancing is the best option for you. If financial security, stability, etc., are your priority, then a full-time job is the desired pick. Or maybe, you can go for something in between. The choice is yours.