People want to earn a living, but they also want to spend more time with family, friends, and

loved ones. People want to be great at work, they want to grow, but they also want it to be
meaningful.
 
And in the pursuit of work-life balance, people started to search for flexibility and better
opportunities, ushering in “The Great Resignation.”
 
In 2021, millions of people resigned in the United States. Workers in Canada, Australia, and the
United Kingdom followed suit. Soon enough, it became a global phenomenon.
 
Many of the workers who joined the global mass resignation phenomenon still looked for full-time
jobs, but a sizable number were also considering taking on projects on a freelance basis.
Freelancers usually take on multiple projects on a short-term basis, charging their clients using
fixed rates, per-hour, per-day, or per-project fees, depending on the contract.
Also Read: Red flags of a toxic hybrid workplace
 
Freelance work is lucrative, especially in the post-pandemic world, because it allows a person to
work remotely, select projects to take on, and pretty much manage the schedule freely.
 
There is no need to clock in and clock out for work if you are a freelance worker. You just need to
finish the projects on time.
 
Reports by an online freelance work platform showed that freelancers contributed $1.3 trillion to
the US economy in 2021, which is $100 million higher than the year before.
 
More than half of the freelancers in the US provide skilled services, such as marketing,
programming, and business consulting.
 
While freelancing is pretty much the dream of workers who want flexibility and work-life balance,
it has some disadvantages as well.  
 
Before you decide if independent contracting is for you, let us first take a closer look at the pros
and cons of freelancing.
 

The pros of freelance work

 

Control your earnings and workload

 
Don’t get it wrong, freelancing is per-project work, but it doesn’t mean the pay is small. In fact,
freelancers often earn more because they can take on multiple tasks with pay.
 
In a full-time job, you may be asked to take on multiple tasks or projects, but your pay stays the
same. In freelance work, each project or task you finish is paid.
 
If you’re planning to save for a vacation, you can spend the next few weeks taking on multiple
high-paying projects. If you just need some cash for daily expenses, you can reduce the projects
you take.
 
Moreover, if you have the expertise and experience in your field, you can even charge higher
than the industry average.
 
With freelance work, you control how you want to earn. Many companies are looking for
freelancers, and it’s up to you to make your pitch.