Freelancing surges as workers chase flexibility and higher paychecks
If you're thinking about becoming a freelancer or taking on some freelance work alongside your main job, here's why now could be the best time to take the plunge.
The Demand Is There
Demand for freelancers is growing. Notably, corporate decision-makers are on board with the freelance trend: one report found that 29% of executives say freelancers are essential to their business and that they couldn't get by without them, and that 48% of CEOs are planning to increase their hiring of freelancers.
It's easy to see why. Hiring freelancers may mean lower risks and overhead costs versus hiring a full-time employee. A freelance workforce isn't limited to larger companies, either. A LinkedIn survey found that 80% of small businesses say contractors are a part of their team.
Diversify (Or Increase) Your Earnings
Freelancers have the potential to earn more than in their full-time corporate role. According to Upwork's Future Workforce Index, full-time freelancers out-earned their full-time employee counterparts, with a median income of $85,000. Freelancers who only operate as a side hustler outside of their full-time job earned $40,000 in addition to their full-time wages. If you're on the fence about starting freelancing, this is a great way to start: moonlighting outside of your main role.
Freelancing Is Borderless
Despite some return-to-office mandates, remote work is still here to stay, particularly for freelancers. So much of the work is online (such as website development, coding, marketing, and writing), which means freelancing can be borderless. It allows you to work with clients all over the world. The sky is the limit in terms of what types of companies you work with and where they are located.
Don't get me wrong, freelancing isn't for the faint of heart. It takes grit, perseverance, and the ability to take rejection. There will be times you wonder when or where the next paycheck will come in - especially at the start of your journey.
However, clients are already looking for expertise like yours. Freelancing can be a smart move for ambitious, skilled workers looking to make an extra income or replace their full-time role entirely. For those who put in the work, the rewards can be great.
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