Full -Time Employment Or Freelance. Which Is Better For You?

The task of selecting one’s profession can be the most difficult and potentially life changing.The right profession choice may lead to happy and contended work life. While, a wrong decision may result in failure and disappointment.

This article aims to highlight the advantages and drawbacks of freelancing and full-time employment. Freelance work commonly refers to a person who is self -employed and not committed to any long- term employment in a company or an organization. Jobs in this field include, dance, music, web designing, journalism, writing, computer programming etc. A full-time employment refers to employment where in the individual works for a specific number of hours defined by the organization or employer.

Full-time employment: The advantages and disadvantages.

• A full- time working job ensures more stability to an individual. Working at an office job ensures employment security i.e. assurance that an employee has the continuity of gainful employment for his/her working life.

• They have the advantage of a regular income at the end of the month. This helps the employee to plan and manage his financial affairs, and it can also help the employee to make long term investments.

• A full time employee enjoys long terms benefits. The company normally provides it's employees with company-subsidised or company-paid insurance benefits. These insurances include health insurance, life insurance or even accidental death insurance policies with some companies offering family coverage.

• Full time employee can access paid sick leaves, vacations based on employer’s policy. The company also provides pension funds and other retirement schemes to the employees.

• Working as a full-time employee also ensures fixed work schedules, with a specific number of working hours, this means that, the employee is less likely to have last minute extra shifts.

• The downside of full-time employment is less control over office work. The full-time employees have a boss who tells them what to do. They have to work within the rules and timing of the organization which can over burden the employees.

• Working in a full- time job may not allow an individual to navigate his/her passions outside the walls of the company, thus, not allowing career growth.

Freelancing: Advantages and disadvantages.

•Freelancers have the advantage of flexible working hours. The freelancer can determine his/her own working hours, and have a choice of working on projects during their most productive hours.

• They also have the freedom to work where ever and whenever they feel comfortable and productive, as long as they complete the task they have chosen.

• Freelancers have the advantage of full
control over their jobs and clients. If the assignment does not interest them or if they don’t agree with the client, they can opt out of the assignment. Since freelancers don’t have to follow any strict rules and regulations of an office setting, they have the freedom of being creative and experimental in their field of work.

• A freelancer may have an unstable work situation and may not have the guarantee of next week or next day’s work. Their income may be unpredictable and inconsistent. This can make it difficult for a freelancer to plan and invest in any financial affairs. Failure to complete a task may result in the freelancer not being paid or even losing a client without any prior notice.

• A freelancer may not have the benefit of the schemes enjoyed by a full-time employee. He/she may have to arrange for their own health insurance and other insurance policies. They will need to plan and arrange for their own retirement policies.

Both full-time employment and freelancing have their own perks and drawbacks, and neither is perfect. Choosing a job option largely depends on an individual’s personality and what they feel is important for their professional life, i.e. stability or freedom. Thus, based on these options, an individual can decide what according to them is their ideal work situation.