|
|
Benefits of Part-Time vs. Full-Time vs. Freelancing
 When starting out your career (or when a lifestyle change occurs) you may need to evaluate what the most realistic situation for working is: Full-time, part-time, or freelancing. In making the decision, it is helpful to consider the advantages and disadvantages involved with full-time vs. part-time work vs. freelancing. When you freelance, you are working as a contract worker, or a temporary worker. This means that you will have irregular hours and that you will probably not receive benefits, vacation pay, and sick leave from your freelancing clients. The good news is, though, that you are free to pursue the projects that interest you, you avoid office politics, you can earn extra money through moonlighting while fully employed, and you can work around other family members' schedules. When you work part-time, you work either fewer days or fewer hours than a regular work schedule. When you work full-time you work at least 40 hours a week (sometimes much more depending upon the project or company). What are the benefits and deficits of each?
Part-Time Work
Benefits - You can spend more time with your family or freelance on the side
- It allows you to get a taste of a new industry without leaping in
- You can obtain further training or skills while earning an income
- It's easier to maintain a work/life balance when working part time
- A great way to make extra money on the side of something else
- Easier to get in the door with little experience
Disadvantages - You will have a lower income
- You will have fewer opportunities and responsibilities
- Your opportunities for advancement will be lower
- It is difficult to move from part-time to full-time within the same company
Full-Time
Benefits
- More hours = more financial security
- Full time employment is often very secure
- You will have easier access to career opportunities
- You will be surrounded by colleagues and team members
- You may experience higher satisfaction from your job
- Networking opportunities will be greater
- There will be a greater variety in your work
- Goals are often set for you
Disadvantages
- It may be more difficult to obtain a work-life balance
- You may be prone to working too much
- You may not have much freedom about your schedule
- You may be stuck with a particular employer for longer than desired depending upon your required notice period.
- You may become bored
Freelancing
Benefits - If you work hard and can build your client base, this option gives you the greatest opportunity for income
- You avoid office politics
- Greater variety of work
- You can set your own hours
- Only take the projects that interest you
- Offers a great way to make extra income in addition to working part- or full-time
- Allows you to test out different roles and projects as a consultant without committing long-term
Disadvantages
- There may be long hours one week, and no hours the next week
- No benefits, sick leave, or vacation pay
- Self-employment taxes can be overwhelming
- You must track finances, market, and perform your duties yourself
- Freelance feast or famine syndrome - you may have an overwhelming amount of work followed by a long span of no work
- Least financially secure of the three
Interested in publishing an article on StrategyExpert.com and enhancing awareness of your expertise or organisation? Email us at contact@strategyexpert.com
|
|
0 Comments Posted Leave a comment