Did you know that freelancers earn more than full-time employees in average?
It is not so bad being a freelancer today.On a global average, a freelancer works 36 hours a week in average, to a salary of….EUR 19,26 per hour. That gives a yearly income of EUR 35.769 pretax. This is revealed in a 2015 study from Payoneer, who base their research on more than 23.000 freelancers in 180 countries. According to Payoneer, this number is higher than the average salary of non-freelancers. This is true for most of the countries in the world.
Remember though, this is a global average. Therefore, if you are sitting in Northern Europe, you can of course expect your salaries to be much higher. IN the UK, Denmark or Norway for instance you can probably expect at least twice as high salaries.
You could argue that a freelance career is connected with income variations and uncertainties. This is also true to some extent. Yet, you could also argue that as a freelancer you rarely risk losing all your income from one day to another.
Freelancers usually have multiple clients providing their income. In a full-time job, you only have one employer who provides all the income. If things go bad, the situation will thus be much worse because you are dependent on only one client. If you are not only dependent on one, it also means that you can loose everything right away.
No matter what you believe, the fact is that it is possible to earn good money as a freelancer. And no less than 38% of American freelancers actually expect to get more work in 2016 (Freelancer Union). But remember, this is not the same as saying that it is easy to earn good money. Success as a freelancer also requires hard work and great skills.
This is just one of the reasons why the number of freelancers has increased significantly. Nevertheless, we also live in a period where people are highly concerned about their own well-being and happiness. Read about this here. In this “passion economy” people often take the chance a follow their dream to be their own boss and master their own career.
Increased respect and recognition for freelancers
Freelance work has also earned an increasing amount of respect and recognition. Previously, many regarded freelancers as people unable to find regular jobs, but this is far from true. In fact, 65 % of freelancers believe that freelancing is more respected than three years ago. 60 % of American freelancers actually choose a freelance career path deliberately (Freelancer Union). So if anyone ever claim that freelancers are just people who can’t find a regular full-time job, you definitely know what to answer.
Working as an independent contractor, consultant or freelancer seems to be the new black. There are pros and cons of freelancing, but right now the pros seem to weigh higher. Look forward to read about the pros and cons of freelancing in our next blog.