In this tough economy, a number of companies are offering employment to people on a “full time freelance basis”.
This mig
ht be a an oxymoron, but let’s look at the pros and cons of it.
Full time freelance means you have to work regular hours on the job (like 9am-6pm), and most likely on the employer’s premises.
PROS:
1. You’ve got a job
How many people would be willing to have a job in this down economic climate? You can consider yourself lucky.
2. You can charge more
In practice, freelancers should charge more for their expertise, and for all the extra fees that they need to pay on their own (see related post below about cons).
3. You can write-off some taxes
I’m no tax-professional, so don’t consider this as an advice. But I do know that you can deduct your tools (e.g. laptop) and even part of your home office. Go and research about it.
CONS:
1. No employment benefits
No health insurance, no paid time-off/holidays, no retirement contributions. Nothing.
2. Social insecurity
Freelancers are known to pay twice the Social Security tax as their regular counterparts (due to company-matching contribution). Read those Freelancers Union posters on NYC subway trains.
3. Temp anxiety
Being worried that you will soon be out of work, since most (if not all) freelancers are temporary employees.
4.
As a full-time freelancer, you will most likely get the same projects. If you freelance per project basis, getting work from different companies, you’ll get more varied projects.
Can anyone else share the pros & con of being a full-time freelancer?
December 18th, 2009 at 4:16 am
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