The freelance economy is growing, attracting around 41% of the US workforce in 2020 – representing an increase of 13% since 2013. For independent contractors in the tech sector, self-employment offers several benefits, including flexibility of schedule, the ability to work anywhere, freedom to choose projects, independence from office politics, and being your own boss. It can also offer multiple streams of income, allowing freelancers to earn more money.
Better Balance Between Life And Work
The ability to choose your own hours or the types of clients you work with motivates independent contractors to join the freelance economy. After all, being tied down to a desk job for eight hours straight every day is not everyone’s cup of tea. Having the freedom to select clients is also a major advantage of freelancing. In short, it is easier to balance life and work when you can choose your schedule and clients.
In addition, freelancing is also means to build a career at your own pace. Free from the shackles of a formal work environment, building up your skills is easier when you are on your own because you can accept a diverse range of jobs. It can be less problematic to carve out a niche and specialize in a particular type of work. You can take up different roles, such as a data scientist, web developer, or information security consultant, as technology remains a hot sector for jobs. For example, during the pandemic, more businesses and organizations opted to work online. Law firms, in particular, will always ensure to hire top talent to grow their companies by choosing from a pool of qualified freelancers, whether it’s a legal research assistant or a graphic designer.
Maximizing Earning Potential
It is possible to earn more money by being an independent contractor. On average, full-time freelancers earned $68,300 a year in 2019, which is higher than the median household income of $59,039. Self-employed individuals get paid more because they have specialized skills. According to a CNBC report, skilled freelancers earn more per hour than 70% of workers in the US.
By building up your credibility and reputation, becoming an expert in your field, and networking well, you can land more contracts that are better paying. In fact, you can dictate the prices that you will charge for your services if you are well established. Clients won’t hesitate to shell out higher rates for a reliable tech expert who consistently delivers high-quality results.
Working for yourself offers several benefits, such as better balance between your personal life and career, freedom to choose hours, clients and projects, and the autonomy to work anywhere. Freelancing in the tech sector can also bring in more money because of the diversity of work opportunities that are available, and the ability you have to dictate your prices.
Founder Dinis Guarda
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