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Can’t decide whether to go freelance or stick with the corporate grind? Here are some pros and cons that will help you weigh in which work is the right one for you.
Being a “freelancer” has a very attractive, hipster, and bohemian vibe to it. Taking your work with you to the beach or the coffee shop at the mall seems like such a cool thing to do. That surely beats regular 9 to 5 job, right? Uhmmm… not necessarily. Regular work has its pros, too. Here are three factors you can consider.
Employment Status and Its Costs
Corpo: You are either a full-time or part-time employee taking on the roles and tasks stipulated within your contract. In exchange, your company is obligated to pay your salary regularly as well as provide you with employee benefits like healthcare insurance, subsidy for government benefits, allowances, and bonuses.
Freelancing: You’re not a regular employee, which means you don’t have a guaranteed monthly earnings. You get paid per project. This is good if you have an overflowing number of projects. If you do not, you don’t earn anything.
Corpo: Attendance is strictly implemented with a time sked and an office desk. But if you must go on a break, file it with HR so the time off will still get paid.
Freelancing: You own your time. There’s no schedule or required attendance. You can work anywhere and anytime. You can go on vacation whenever you feel like it but you won’t get paid for it.
Corpo: There simply are some people that prefer order over spontaneity. If you are the type who wants to work with a team, go corporate. You’ll get to learn from people who have more experience than you and possibly gain a mentor.
Freelancing: As “fun” as freelancing may seem, it requires a whole lot of discipline on your part to not give in to the temptation of just blowing off the entire day watching marathons in your PJs. Here, you are your own boss—which is both a good and a bad thing. On one side, you’d have no one else telling you what to do, but then, there’ll be no one to tell you what to do. So unless you trust yourself to be left on your own to do some serious, productive work, take the option of freelancing with much caution.
The bottom line is you’ll have to think about your career path carefully. While some people don’t have a problem switching from corpo to freelance work anytime, there are those who find the transition a lot more challenging. Weigh your options thoroughly and then decide which one you’d like to stick with.