Is Freelancing Better than a 9-5 Job?

There has been a lot of debate about freelancing and 0-5 jobs.

The topic of freelancing has always been one that people either love or detest.

However, freelancing has never been more accessible because of recent advancements in technology and communications.

The number of critics is steadily declining.

Anyone who has recently made the transition into freelancing is aware of how highly gratifying it is.

You are given complete control over your workload, you can select your clients, and you can determine how much of your time is spent working and relaxing.

There aren’t many other professions that offer this degree of autonomy and control.

If you’ve been thinking about going freelance and working on your own, whether part-time or full-time, you definitely have a lot of questions, not the least of which is why freelancing is better than a 9 to 5 job.

Therefore, We’ve put together a comparison between a standard 9 to 5 corporate employment and being a full-time freelancer in case you’re still “sitting on the fence” about starting freelancing.

Comparing Freelancing to a 9-5 Job

Hiring Process

Many people discover that there is intense competition for positions with 9–5 hours when looking for a job. It’s not as simple as searching for a job online and applying right away.

An initial interview usually marks the beginning of the employment process for a 9–5 position.

In this section, you should discuss your prior experiences, educational background, geographic location, and reasons why you should be hired for the position.

All of these decisions will depend on how well you do in getting that 9–5 employment.

On the other side, it takes some momentum to get rolling when you are first starting as a freelancer.

That’s why I advise starting with freelancing as a side business.

This is because you may begin to improve sustainably as you gain experience in freelancing.

As a result, it’s possible that you’ll just have one paying customer to begin with, and it won’t be able to cover all of your expenses straight away.

However, the recruiting process for freelancers becomes more straightforward as you accumulate more expertise and build your portfolio.

Because you will constantly want to be onboarding new clients as you can, the hiring process for freelancers is ongoing and never-ending in contrast to a corporate role.

Read: The Importance of Building a Personal Financial Plan as a Freelancer

Job Security

Your job security can be unpredictable is when it comes to a 9 to 5.

When you work a 9 to 5, you put all your eggs in the hands of one employer, and your “solid employment” could disappear overnight.

This is because your company fired you, doesn’t have enough money to pay the staff, and other factors that are out of your control.

You may believe that a 9 to 5 work is stable, with perks and wage increases, but this is not necessarily true.

The corporate job market may be very unstable, as this past years have demonstrated.

Many people who believed they had secure employment and would stay there for years instead found themselves fired due to circumstances beyond their control.

You don’t have just one client when you’re a successful freelancer.

You’ll have several clients if you freelancing properly.

Because you have numerous diverse revenue streams, working as a freelancer is secure because you can work for more than one client.

To avoid becoming dependent on a single company in a specific place, you can also diversify your clientele geographically.

Even better, you can work with various brands and clientele.

Additionally, you can diversify into offering various services at various prices.

All of these diversification strategies let you divide the risk across other sources of income, which, once established, makes things more secure.

However, there is almost no job stability in freelancing when you are first starting out.

Not before you establish yourself, which ties to the earlier idea of starting as a side business.

Read: The Importance of Boundaries: How to Set Limits as a Freelancer Without Losing Clients

Earning Potential

Your starting salary typically limits your earning potential at a 9-to-5 job.

However, you can prepare for annual evaluations and pay bonuses and potential wage increases down the road.

There are certainly higher-paying positions to progress to, like management roles.

Still, for the most part, particularly when you’re just starting out, your earning potential can be severely constrained and capped at the rate you agreed to throughout the hiring process.

Therefore, even if the business starts to generate more money due to what you are doing, you are not entitled to that.

Your income potential from freelancing is uncapped right now.

You are compensated for the value you give customers.

You must take responsibility for offering excellent services that enhance businesses.

However, after you’ve done that, you will not have an upper income limit imposed on you.

This is so that you can choose the clients you want to work for and provide services for as a freelancer.

Therefore, if you already have a small number of paying clients and wish to boost your income, you can upsell them on more services or solicit recommendations.

Read: How to Effectively Market Yourself as a Freelancer

Work Hours

It’s annoying to have to report to work at 9 a.m. and not be able to leave until 5 p.m.; other occupations require longer hours.

When you enter the independent working environment, you establish your working hours that best supports the freelancing lifestyle you desire.

For instance, if you do better in the morning, plan your day to finish by 2 o’clock every day.

Alternately, plan your working hours around the school run if necessary.

There aren’t many occupations that offer this kind of flexibility in the 9–5 workplace.

If your job involves using a computer or laptop frequently, you might discover that working in blocks of time is better for you.

It is preferable to plan your workday into designated time blocks from your health and welfare perspective.

For instance, maintaining a far better work-life balance involves working for two hours at a time with regular breaks in between.

Read: How to Build a Strong Online Presence as a Freelancer

Learning Curve

In a typical 9–5 employment, managers over each department apply their specialised expertise and talents to that position.

However, you represent all the departments when you work for yourself, so you must be familiar with their responsibilities.

It can be overwhelming when you first start freelancing, but gaining experience will make your knowledge priceless.

You can learn new things and broaden your skill set by working as a freelancer, including the abilities you already possess.

Every project or freelance job you take on will teach you something, so you can apply that new information and your newly acquired talents to your subsequent projects.

This improves your performance on the subsequent task and creates more opportunity for you to take on more challenging or varied work.

However, developing your skill set goes beyond your work.

You’ll also learn about bookkeeping and accounts, administrative duties, making approved proposals, and cultivating great customer connections that result in additional work and recommendations.

Remember that you may also take a proactive approach to learning and enhancing your skill set by enrolling in online courses.

There are many chances for online learning; all you need to do is decide the talents you want to develop and make the time to master them.

Final Thoughts

Should you work as a freelancer or would a regular job suit you better?

It depends on the profession you believe will be your best long-term fit.

Success in both professions requires patience, commitment, and hard effort.

So, be sure to focus your attention in the appropriate direction and build the future you desire.

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