Companies are now looking at a lot of considerations on hiring a contractual workforce. With factors like efficiency, productivity, and cost, businesses and industries are starting to assess whether it’s better to shift to freelance hiring. In just a decade, we have seen growth and development in the freelancing world. Many businesses, on a corporate and small-scale level, have seen this emerging trend. Even today, with the global pandemic, an increasing number of employees are now considering working from home.

If you’re one of those who are trying to look at the possibility of changing careers from full-time work to freelancing, then you may have to weigh and find out if this is for you. What could be the good and bad sides of working remotely? Here are things you could look at and take into consideration as you weigh the pros and cons of outsourced jobs:

The Pros

The flexibility of the Work Schedule 

Freelancers get to pick and choose their remote work schedules. Since most job opportunities online are project-based, you can do the job by contract. Many clients would only ask for outputs or require deadlines for the projects, although this would also depend on the nature and description of the job. There is a lot of online work that you can do within the hours of the day, giving freelancers the freedom to work at any time and anywhere, whether you work remotely and travel leisurely or work full-time with freelance work on the side. Both are possible.

Diversity of Work Available 

The kind of work that clients offer online is without limits. You can work with various clients in different industries, from various parts of the world. This variety can keep things interesting for you. Full-time work can limit you to just one line of work and in just one industry. Work from home jobs allows you to diversify how you use your skills, ideally helping you learn continuously. You can even start on things you thought you’d never try before if you were in a regular workplace. There will always be opportunities to discover, learn and grow new skills in freelancing.

Broad Opportunity to Generate Income  

The common notion that freelancers are strapped for cash is now a busted myth. Many are experienced, have credible backgrounds running the business, and offer their services at surprisingly high rates. Working from home can help you save tons of money and keep costs on expenses. Also, you can maximize your time with greater efficiency minus the hassles of commuting. Earning in freelance is all up to the line of work you choose and how you market yourself. Freelance salary has no limit or rules either, so you could go as far as you can and do as much as you can.

The Cons 

Irregularity of Work Pay 

Unlike in a regular job where you have a specific and expected pay schedule, freelancers encounter clients who may pay late. There may even be busy and not-so-busy months, which can greatly affect your income. As a freelancer, you have to set up your payment terms. You need to learn to communicate with clients with internal delays, issues, or problems concerning payment for your services. With project-based work, you need to be prepared when clients don’t renew contracts. Learning to be flexible and pivot from situations like these are ways you can grow as a freelancer. 

Working on Personal Paperworks 

Paperworks like filing taxes and getting your insurance may be legwork you have to face. Taxes with freelancing is less straightforward. Clients send their payment for your work without the taxes deducted. So this means you have to pay your taxes from that, then declare your income when tax season arrives. Once you get to freelancing, you would no longer have a company offer you a benefits package. Getting insurance is another thing you need to do by yourself. You have to do your due diligence to research the best insurance plan for you. 

Promoting and Marketing Yourself 

In freelancing, you are your boss, but you’re also your voice. You have to personally deal with different kinds of clients without losing trust or credibility. The only person who would advocate for you is yourself. The kind of confidence to navigate through various client-freelancer relationships takes time to build. Projects and jobs can quickly come and go in freelancing, so you are responsible to promote and market yourself consistently. It may sometimes feel like a cycle of unending job search, application, and being rejected or getting the job.  

Working from home may be a popular career to get into, but it is not for everyone. With all these pros and cons, you can weigh if working remotely would work for you.