With an ongoing global pandemic, it is no surprise that many individuals are looking into options that allow them to work from home. In the publishing industry, freelancers are common and many publishing companies even contract freelancers for specific projects or needs. With the added appeal of making your own schedule and essentially managing your own business, why wouldn’t you want to be your own boss?
Employees who are hired as full-time workers of publishing companies usually have several benefits in doing so. For many individuals, the structure and financial security of the nine-to-five office job is preferred; not to mention, many of these jobs allow for health insurance, paid time off, matching retirement plans, and so forth. These employees are often paid hourly or salaried pay and don’t have to deal with the added responsibility of keeping track of and withholding their own taxes from their income. While freelancers do have the option of hiring an accountant or bookkeeper to keep track of that side of the business, working for a company has that built in the structure of the business already.
Even with all the benefits of working for an already established publishing company, according to a blog from Udacy (a technological career training site): Statista data projects that in 2027, 86.5 million Americans will be freelancing and be 50.9 percent of the total workforce. The draw is not only due to individuals and companies pivoting due to the COVID-19 demands that began in early 2020. That same Udacy blog states that the numbers have been steadily increasing over the past decade or so. For many, a huge draw is being able to be in control of their own work/life balance. There is, no doubt, a level of freedom that comes with which clients and projects you take on, how many you take, what kind of work you take on, when you are able to schedule appoints—both personal and professional, when and where you work, and generally being able to call the shots on your career and professional life.
While it does take a lot of “behind-the-scenes” work to network and find the work and the clients in order to sustain your financial needs and make ends meet, many individuals are drawn to the challenge and the desire to learn all aspects of what is essentially running their own business. Many business and entrepreneurial start-ups happen as a result of freelancers who start with the vision of what they want their careers to look like and build from there.
When it comes down to a decision as to whether or not freelance work is right for you, it truly varies from person to person. Take stock of your career goals, look at what you want out of life and what is important to you. Many individuals are able to do some combination of contracted, employed, and/or freelance work. If you are wanting to do a bit of both, just make sure to check with your employer to make sure that any of the projects you take on are not considered a conflict of interest. Otherwise, do what works best for you and your work/life balance and professional development.