There are a few advantages and disadvantages of freelancing. In this post, I listed most of the common pros and cons of freelancing.
Advantages of freelancing (pros)
- Gives you more freedom.
- You become your boss.
- Flexible time to work.
- You can decide & increase the price & hourly rate of your work.
- Ability to gain more skills.
- You can work from home or while traveling.
- If you spend more time freelancing then you’ll earn more.
- You don’t need a specific degree to start freelancing.
- The freelancing websites are free to join.
Disadvantages of freelancing (cons)
- A large amount of marketplace commission (if you work via freelancing platforms).
- There is no guarantee to get work regularly.
- High competition.
- You have to deal with many clients that come with a low budget.
- There is competition among freelancers to offer their services at a cheap price.
- There is no financial security for your late life such as a provident fund & pension.
- Sometimes you have to deal with foreign office hours.
- There is a coincidence of getting scammed, especially for newbies.
It’s easy to start but difficult to land jobs & carry on. Anyone who has skills, a computer & internet connection can start freelancing for free.
There is no consideration. It depends on the freelancer and how he/she operates his/her business (freelancing).
If a person only does freelancing or if it’s the main source of living then it will be considered a full-time job.
But if a person does it (freelancing) aside from another job, or side hustle then it (freelancing) will be considered a part-time job.
It varies from person to person, individual preference & their current position. If you’re in a position where you don’t like the job, freelancing may be a great choice for you.
But if you don’t have marketing skills and if you’re not proficient in the field, freelancing would be not a replacement.
In most cases, it’s the lack of patience.
On the other hand, every freelancer should have marketing skills at some point & no matter what their expertise is.
Also, you have to be skilled & professional in your niche. Otherwise, you may end up with unhappiness.
Learn more about why most freelancers fail & give up →
Like any other job nature, freelancing has its own benefits and demerits. A person takes all the responsibilities for his/her decision about being a freelancer.
If the freelancer becomes successful, everyone will reward him/her.
But if the person fails, no one will support him/her (mostly) and even many people will criticize.
If you’re a person like me who is thinking to leave a regular job and switch careers to freelancing, I would say think wisely and take a financial backup for at least 6 months before you get started.