About the author
Are you thinking about escaping the office to become a remote worker? Unsure if to focus on freelancing or work for a company as an employee?
Both have pros and cons, and this article will help you make an informed decision. Before leaping into a remote or freelance job, you should ask yourself why you want to escape the office.
Making an ill-informed decision can affect you financially.
Which will you choose for freelance work vs. remote job?
Freelancing
Pros
For those looking for flexibility in their life, then this is the option for you. You set the hours you work each day. You decide the rate of pay you are paid. Being a freelancer gives you complete control of your life and future.
As a freelancer, you have unlimited earning potential and can decide who you work with. Building a freelance business offers independence and the ability to offset business expenses against your tax bill.
Freelancing allows you to work from anywhere as long as the job is completed to a high standard and you meet deadlines. Access to the internet is less of a concern. If you want to spend a few days on an island and the WiFi connection is slow, that is not a huge problem, provided you can meet work deadlines.
Cons
The biggest challenge for freelancers is not knowing when their clients will pay their invoices. Chasing invoices can lead to additional stress. Continuously marketing your freelance business and searching for new clients can also become tiresome, especially when starting.
You will need money management skills to survive because income is not regular. You’ll need to make sure you save a percentage of your income for taxes and access money should work freeze up or ‘emergency’ clients do not pay on time.
Sadly, it happens, so you need to prepare for this.
As a freelancer, you will not get paid for any time off you take for vacations. Don’t forget to consider the future and have a pension plan. Make sure you have healthcare insurance so you are not financially impacted.
Isolation is a problem for all remote workers, especially freelancers, who occasionally interact with their clients.
Remote Jobs
Pros
This guide assumes the remote job is with an employer rather than contracting. As a contractor, the pros and cons are the same as those of a freelancer, other than most companies paying monthly like employees.
Unlike freelancing, you will receive a regular income and be entitled to benefits such as sickness pay, vacation leave, pension, company benefits, and healthcare. For many, this is an advantage over freelancing that is impossible to live without.
Since you work closely with a team, there is more human interaction through video calls and annual team gatherings.
Cons
You will have less flexibility because most companies want you to work a specific shift and timezone. This might result in working unsociable hours, depending on where you are compared to the company’s location.
You must have reliable internet access at all times. Otherwise, you will struggle to complete work, losing your job.
With an employer, it is easy to feel that you have to be switched on to work at any time and work more hours than you are paid. Taking time off might be problematic if other team members are away.
Additional Thoughts
Freelance Work vs a Remote Job. With both options, you will have all the benefits of working from home: no commute to the office, more time with loved ones, and time saved not commuting, allowing you to work on your passions.
Another solution you might not have considered is working part-time as a remote employee or freelancer.
This gives you the best of both worlds. As I write this, I work 25 hours per week as an employee and 15-20 hours building my online business.
Do not let the cons put you off from either of these remote working options because there are solutions. These will be covered in future articles, so please subscribe to my free weekly email so you’ll be notified when new content is published on this topic.
