According to a study released by Upwork and Freelancers Union. That’s an astonishing number, considering freelancers only accounted for 29% of the US workforce as recently as 2019. But what about freelancing has made it so attractive in recent years? Let’s take a closer look.
Flexibility and Independence
The two primary benefits of freelancing are flexibility and independence. As a freelancer, you can set your hours, work from virtually anywhere, and pursue projects that interest you. You don’t have to worry about commuting to an office or dealing with bureaucracy; instead, you can focus on doing what you love. This makes it easier for people to balance work and life commitments without sacrificing their career ambitions. Furthermore, since many freelance gigs are project-based rather than long-term employment contracts, you can explore different opportunities without being tied down to one employer.
Profit Potential
While the traditional 9-5 job offers security and stability, many freelancers can earn significantly more money by taking on freelance projects than they could at a regular 9-5 job. According to the Upwork/Freelancers Union report, the average annual salary for full-time freelancers is $63,000 – considerably higher than the national median salary of $41,977 for all US workers. Additionally, with no need to worry about benefits or taxes (as most clients will handle those responsibilities), freelancers often take home total income more than they would if they were employed at a regular job.
Growth Opportunities
Lastly, while many traditional jobs require long periods of stagnation and lack growth potential, freelance gigs often provide the opportunity for rapid personal and professional growth. By working on different projects with clients each month or year, freelancers gain valuable exposure to new industries and technologies. This helps them stay up-to-date with industry trends while expanding their skillset in ways that may not be possible in a traditional role.
🍩 Just the Sprinkles
As we can see from this brief overview of why more people are turning towards freelance work as a viable career option today – there are numerous advantages associated with becoming your own boss! Not only do you get greater financial rewards but also have more freedom over how much work you do each day and what type of projects you choose to work on! With predictions forecasting $1.35 trillion in earnings by 2022 for the US freelance industry – now is definitely an excellent time to explore your options as a budding entrepreneur!
