Choosing between a permanent job and a contract can be confusing. There was a time when people preferred permanent jobs only due to job security and a number of job incentives, including promotions and increments. However, times have changed, especially due to the technological advancements and people have started switching to freelancing.
Who Makes More?
While choosing between the two, the most important question is “who makes more?” Well, before we answer this question, we would like to clear the concept of “more” in the question. There are several factors that matter when evaluating a job besides money, including work stress, workload, opportunities for growth, and job satisfaction. You would not want to pad your bank account and then spend huge amounts on hospital bills because of a nervous breakdown due to being overworked.
As a freelancer myself, I would suggest you to at least try getting into a field like this. This is because not only freelancers get a comparatively good pay than most permanent employees but also because they get to enjoy a number of other benefits. The first and most important factor that attracts most people towards freelancing is flexibility. I, for instance, start freelancing solely due to this factor. Freelancers get to start their work whenever it suits them.
While there are deadlines in most freelancing jobs, there is still plenty of time to get the job done. There is no boss and no issues with timings. Basically, there are none or few restrictions. This helps you save a lot of time that most permanent employees otherwise spend commuting to and from their office. Moreover, you are your own boss. This increases your confidence and allows gives you a certain degree of peace of mind.
When it comes to earnings, there is a significant difference between what a freelancer and a full-time employee takes home. Even in cases where
the salary for both is more or less the same, IT freelancers have a larger net income. This is because permanent employees get paychecks after tax deductions. On the other hand, freelancers can negotiate after-tax pay packages, hence getting a comparatively greater net salary.
A number of study and surveys have shown that 86% of IT freelancers say their job satisfaction is excellent while only a small percentage of permanent employees say the same. This is a clear reason why an increasing number of people are opting for freelancing over working permanently, and money is not the only factor.
Decide Consulting is a software and IT Staffing firm based in Houston, TX. Founded by veteran software consultants, Decide has developed proprietary methods for finding problem-solving IT personnel. Our Software products focus on the Environmental Health & Safety (EHS) and Healthcare markets.