November 19, 2021
Benefits of Working as an Independent Contractor
5 Minute Read
Filed under: Entrepreneurship
Wondering if working as an independent contractor is for you? There are specific skills required to be successful, including excellent organizational and planning skills, plus the ability to meet deadlines while working alone. If you are looking for a comprehensive guide on the benefits of working as an independent contractor, this post is for you.
What is an Independent Contractor?
An independent contractor or freelancer is someone who offers services to a business without being an actual employee. Independent contractors are often paid per project or hour and they do not get employer-paid benefits. There are, however, many advantages to being an independent contractor that regular employees do not get to enjoy.
Independent contractors can work on different projects with different companies at the same time. They can also work when they want and can charge competitive rates for their services. Even though independent contractors get no paid time off (PTO), most freelancers gladly trade that for the ability to work for themselves and work when they want.
An independent contractor or freelancer is someone who offers services to a business without being an actual employee.
In the following video we go over the main differences between independent contractors and employees.
What are the Benefits of Working as an Independent Contractor?
We’ve already given you a handful of benefits of being an independent contractor or freelancer, but let’s look at a few more of them in detail.
Independent contractors have the ultimate work schedule in terms of flexibility.
Freelancers can work when they want and where they want. This means an independent contractor can choose not to work on holidays or when other special occasions come around. Freelancers can even choose only to work in certain industries if that’s what they choose to do.
You’re the Boss!
Individuals working as independent contractors are their own bosses. They work for themselves, and they get to call all the shots. Many freelancers find this rewarding because they like having control over their careers. This is not the case for all regular employees who sometimes face uncertainty regarding their professional careers.
Better Work-Life Balance
A common problem among regular employees is not having enough work-life balance. Independent contractors do not have to deal with this issue. Freelancers can work when they like and take off whenever they need to. They do not have to worry about work taking up too much of their time and interfering in their personal lives. Independent contractors enjoy a far better work-life balance than most people do.
You Can Make More Money
Independent contractors do not have a cap on the number of hours they can work. Having the flexibility to work whenever they want and how much they want means freelancers can make a lot of money. But it is not just about the number of hours they work that makes a difference. Independent contractors also tend to make a much higher per-hour compensation than regular employees do.
You Gain Experience
Independent contractors can work with any client they want, which translates into a significant gain of experience in a wide range of industries. Many freelancers love to work for clients in different industries because they can learn about all types of jobs. It’s easy to do this because all sorts of companies hire independent contractors, from corporations to medical facilities and everything in between.
Is it for You?
So, is working as an independent contractor right for you? That depends on what you’re looking for in a job. If you like to control when and where you work, you’ll likely enjoy freelance work very much. The catch is to weigh the pros and cons to make an informed decision.
If you are ready to take control of your career and become your own boss, click here to explore our current opportunities for independent contractors.