Freelancing vs full-time job: Pros and Cons
Whether you’re currently a freelancer or in a full-time role, you may sometimes think about how the other side is living—is it better or is it worse when getting started? Although freelancers have a lot of control, full-time employers know exactly what they’re doing and don’t have to look for the work.
But this doesn’t mean one is better and one is worse. It does mean that there are pros and cons. To outline this, in this article, we’ve outlined the main differences as well as the pros and cons of freelancing vs. a full-time job.
Freelancing vs full-time job: Main Differences
Freelancing and full-time employment, as you may already know, are two completely different ways of working. Each one of them has their own set of advantages and drawbacks.
Although freelancers may enjoy a higher degree of autonomy and flexibility, full-time employees can benefit from a stable income and benefits and become more scheduled—unless you organise it correctly to scale. Here are the main differences between freelancing and having a full-time job.
Skills and Responsibilities
As a freelancer, you’re usually continuously specialising in a niche, enabling you to become an expert in a particular field. Once you’re an expert, you can take advantage of this to monetise even further. This includes running your business, finding clients, marketing, client communication, and invoicing—all on top of what your core skill is. From this, you have to carry more responsibility.
On the other hand, as a full-time employee, you will typically fill broader roles and have more responsibilities in one particular field, which you’ve shown on your CV. This might have a core focus, but you are expected to be able to adapt. Since you’re also working within a company structure, you will have someone to report to who will give you tasks based on your abilities.
Compensation and Benefits
If you’re someone who wants to be able to negotiate compensation on a per-hour, per-project, or even a retainer basis, then being a freelancer might be more positive for you. This also gives you the freedom to raise your rates as you get even busier. However, you will also be responsible for your benefits.
However, if this doesn’t sound pleasant to you, then you might be better off being an employee. This is because you will receive a predetermined hourly wage or salary. But you will receive benefits funded or subsidised by your company. This can include paid time off, pensions, and much more.
Working Hours and Your Environment
Potentially, one of the biggest differences between freelancing and being in a full-time job is the working hours and the environment that you’ll be working in.
Whilst you’re self employed, you’ll typically have the freedom to set your hours whilst working from wherever you want - becoming a digital nomad. This also means that you can work from abroad and in your preferred location. You may even be able to travel for work.
However, as a full-time employee, you will usually be following a set schedule by your employer. Although you can work remotely, you will probably still have to work the 9-5 or in a shift-based system.
Job Security and Taxes
As a full-time employee, your job is relatively more stable, especially when compared to a freelancer. Although you can be let go due to many reasons, there are some protections for you so you’re not left with nothing.
As a freelancer, this is slightly different, and you’ll need to figure this out for yourself. This means that you’ll need to do your taxes and understand your deadlines for projects. The amount of work that you get might also be unpredictable, resulting in a less secure job.
Control and Career Development
When you’re in self-employment, the main benefit is that you have all the control. The benefits that we’ve already talked through and the pros that we will explore in the next section, are because you control it. You can shape your career development, which could include improving your skills or increasing your rates to have more earning potential.
On the other hand, although you know where your next payment will come from, with full-time jobs, you lose this autonomy in your day-to-day tasks. Of course, when you progress, you will get bits of autonomy with trust from the company. As well, as a benefit, some companies will offer training, promotions, and leadership courses to show you the path of improving your career.
Pros and cons of freelancing
Freelancing offers you unparalleled flexibility but also depends on self-discipline, adaptability, and resilience. Are you willing to take this sacrifice? Deciding whether freelancing is the right path for you involves weighing its advantages and disadvantages; here are the pros and cons of the freelance lifestyle:
Pros of freelancing
Providing flexibility, freelancing allows you to create a schedule that suits your lifestyle and work from anywhere in the world—as long as your freelancing role permits it. As an additional benefit, it can also foster creativity and personal growth for the multiple clients you can have through negotiating your rates.
In addition, as a freelancer, you’re able to build opportunities to build a diverse portfolio and network with many professionals in your industry. This can help you improve your work-life balance, making freelancing an overall rewarding role.
Cons of freelancing
On the other hand, although there are so many benefits to freelancing, it also comes with some notable challenges. One of these includes income stability and unpredictable workloads.
You would be solely responsible for securing clients and handling admin tasks, which can include bookkeeping, taxes, and so much more stuff. This could be a skill you’d learn, but when you want to just complete your jobs that take your core skill, this can be a burden.
Furthermore, if you’re someone who does your work remotely, this may limit your networking ability and can become somewhat isolating. This could worsen your ability to have self-management skills, which are helpful in a successful freelance career.
Pros and Cons of a full-time job
A full-time job can provide you with a regular salary, benefits, and more professional development opportunities. However, there are some decisions you’d need to make when deciding if it is right for you. Here are some of the pros and cons of full-time to offer more insights into where the traditional career model works for you:
Pros of full-time work
As an employee, you can benefit from perks such as health insurance, pensions, paid holidays, and other benefits that enhance personal security and work–life balance. These are perks that you don’t see as a freelancer.
In addition, since you’re working with a bigger team, this can foster professional development, collaboration, and networking—especially between your peers. This structure often allows you to focus on your responsibilities, removing the need to manage administrative tasks like bookkeeping and client acquisition (unless this is your role).
Cons of full-time work
On the contrary, full-time positions can come with less flexibility, as your hours will be fixed and office hours may limit your freedom. Especially if you then have to do work after hours—you never know why you may have to stay behind after the usual 9-5.
While job security is generally greater than when you’re in freelance work, the lack of autonomy and performance evaluations might lead to higher stress levels—which could then ruin your job security, especially if you’re able to perform.
Freelancing vs fulltime: the choice is yours
The choice of whether you choose to become a freelancer or be in full-time employment depends on your priorities, work style and long-term career goals. As a freelancer, you would enjoy unparalleled flexibility, autonomy, and potential for higher earnings, whereas full-time employment brings a steady income, job security and additional benefits.
Freelancing may be ideal for those who value independence and are willing to navigate the unpredictability of self-employment, while a full-time job can be the right fit for individuals who prioritise stability and professional growth within an established organisation. Ultimately, the best choice is the one that suits your lifestyle, financial needs, and career ambitions.
