Should You Be A Freelancer? Take a Look at the Pros and Cons

The pros and cons of freelancing.

With the job market still in bad shape, many people have started to look at freelancing as a way to make some money while they continue their job search, while others have taken this opportunity to build a career out of working for themselves. But, it isn't the right choice for everyone. For those who enjoy having more freedom and don't mind the additional responsibilities that go along with being their own boss, working as a freelancer could be the perfect choice.

If you've thought about taking freelance work, it's important to look at the good and the bad in order to make the best decision.

Many companies hire freelancers for all sorts of jobs. For the companies, hiring a freelance employee for certain jobs makes good business sense because they don't have to make the commitment to a full-time employee. Not only do they not have to offer benefits, sick time or invest in training a new employee, they can hire someone to work on just one task or even to work for just a short time. Freelancers tend to be more flexible and typically offer specialized skills that the company needs. For example, a small business might hire a freelance web designer to help them build a professional website rather than hiring an in-house designer.

So, why would someone want to be a freelancer. Here are the pros:

• You're the boss - Freelancing is the same thing as being self employeed. You are your own boss, which means you have the potential to be as successful as you want and you can decide how hard you would like to work.

• Higher salary - Most companies pay freelance employees more than they do their regular employees and freelancers generally command a significantly higher fee than an hourly employee.

• You can take the jobs you want - When you are your own boss, you can take work when and where you want. You can plan holidays whenever you'd like.

• Variety - Depending on the type of freelance work you do, you can take jobs in a variety of different fields. There is no reason to be stuck doing something you hate, just take on work that suits you better.

So far, freelancing seems like a pretty good deal. I mean, who wouldn't want to have flexibility, make more money and make your own schedule? Well, the truth is that while it can be great for some, it isn't always a bed of roses. Here are some of the drawbacks of freelancing:

• Lack of job security - Freelancers can't really expect to have any sort of job security. One day there may be more work than you could possibly do, and the next week, you can't find work at all. Regular hourly employees can be fairly certain that they will still have a job next week or next month.

• No real co-workers - If you are having a bad day or feeling overwhelmed, you can't ask a co-worker to help you out or take up the slack for you. Since you are the boss and the only employee, success or failure rests soley on your shoulders.

• No benefits - This is something that many freelancers don't take into consideration at first. Although you can command higher rates than you would as a traditional employee, you have to pay taxes on your own, you'll want to buy health insurance and invest in a retirement account on your own.

• You have to manage your time and career - As a boss, you have to take a leadership role in order to manage your staff, namely you, and find new ways to motivate yourself. Since there isn't anyone to know if you worked late or slept in, you have to be able to self-manage.

• If you don't work, you don't get paid - At a traditional job, there may be days when you go to work and just skate through the day as best you can. When you freelance, you only get paid for the work you actually do. This means days of slacking come right out of your bottom line.

• Competition - When you are out there looking for jobs and trying to land new clients, you'll be competeing against both large and small businesses. You need to give some thought to your marketing strategy and pay attention to your professional image.

• Handling your own invoicing - When you work as a freelancer, you have to bill a company and wait for them to pay you. In some cases, they may not pay you as soon as you like. There are even some cases where clients have left accounts unpaid with freelancers for several months. Unfortunately, if your pay is a little late, there isn't much you can do about it aside from contact them and wait. Of course, if they refuse to pay or leave an account unpaid for a long period of time, you may have to take legal action.

Becoming a freelancer is a big decision. It has its drawbacks and it has it's good points. If you are self motivated and able to handle the responsibility of not having a boss, it might be the right career path for you.

Have you considered freelancing? What reasons did you decide to or not to do it? Let me know in the comments.

By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for PhillyJobsBlog, along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.

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