full-time or freelance – what's right for you?

During my career as Brand Consultant and Art Director, I worked as a full-time employee, as freelancer and eventually as entrepreneur with my own company.

Each of the three forms has its particular dynamics, specific advantages and disadvantages.

Here I share my summary of the differences between full-time and freelance.

Full-time employment:

Pro's & Benefits:	Con's & Drawbacks:
To work in a specific office can be comfortable, efficient, gives peace of mind, and helps bonding with colleagues.	​You are at the mercy of your boss or seniors if it comes to project types and schedules. Long hours are common. And also boring work and repetitions.
You have your own desk, computer and oftentimes a company phone	​You might have to travel a lot. To company meetings (if company is part of a network) or to client presentations.
​Regular monthly income	​Golden cage syndrome: as you get used to a regular income, the annual bonus and other perks, you may accept situations and behaviour from others, which you otherwise would not.
​Potential annual bonus payout and profit share.	​Your contract might say you get additional annual profit share, but your supervisors may find excuses to postpone or deny it.
​Perceived stabilty and security. An employment contract and a notice period can protect you from sudden job loss.	​Despite your employment contract you can get kicked out. In times of a sudden economic crisis, often the last 5 people in, are the first 5 people out.
You have certain legal rights (at least in Western countries).	​You have to attend many company and team meetings.
Optimal status for beginners to learn how to actually work and do the job, be it processes, production, communication etc.	​You have to follow the organisation's policies and rules. And company politics and procedures can be stiffling, intimidating and extremely time consuming (e.g. fill out regulated annual colleague feedback forms)
​Gain insights about the company's culture and how it differs to other organisations (e.g. its competitors)	​As employee, your colleagues' gossip and jealousies affect you much more than when you are a freelancer.
​Have more responsibility and hence learn more faster, especially when dealing directly with clients.	​You easily get too many projects, correspondences and to do's to deal with under time pressure, and become a work slave.
​Are are automatically part of the company's trainings and further education plans, workshops or events and parties.	​Socialising and networking can become a drag but you cannot avoid it without alienating your team or boss.
​Parental leave and maternity protection: You will not lose your job because of pregnancy or maternity leave.	It might be difficult to assert your right for free time off work and establish boundaries such as not answering emails / calls after a certain hour.
​A network (e.g. of suppliers and clients) is already in place.	​You are locked into staying in the office rather than taking your work with you home.
​You have a paid and set vacation time.	The amount of holidays per year is fixed, and oftentimes also the months are defined which are free for you to leave.
​No need to worry about filing tax returns.	Taxes get automatically deducted from you salary and you cannot claim expenses for tax reduction.
​Potential for a career with promotions, new job titles, different projects and responsibilities and salary increase.	​Strict hierarchies, competition within teams / departments / offices and company politics may slow down or even stop your career.
​Stability due to commitment of working at the same place full-time.	​You cannot work for any other company or combine it with freelancing for other clients.
​When you are sick and have to stay at home, you normally get paid nevertheless.	​You might be sick often. ​An employment contract requires submission to the management. On soul level we are free, so a contract does not sit well with your spirit. The constellation of your enslavement can lead to dis-eases.
​Paid holidays, paid sick-leave, maybe even a pension fund, car, laptop, phone, free lunch, gym membership...	You have to follow ​the path your superiors set up for you.
​You climb the career ladder, achieve status and external wealth.	​You get consumed by work, loose your partner, relationship / marriage. Maybe also your vitality, health and soul.

Freelancing:

​Pro's & Benefits:	​Con's & Drawbacks:
​Freedom and flexibility over your work life and time.	​Uncertainties about your bookings, next assignments or length of projects.
​Staying out of company politics and time-consuming meetings and procedures.	​Sense of isolation or exclusion might occur when the entire team of employees has a company meeting which you are not part of.
​You can work from anywhere in the world. In your client's office or remotely (e.g. from home).	​You may work for a company but will never speak to and meet their clients.
​Opportunity to work for different companies and projects at the same time.	​Pressure to perform and deliver well on target otherwise you won't get hired again.
​Trying out new organisations or industries without making the commitment of working at the same place full-time.	​You may have to speak to recruitment agents and include headhunters in order to get your next project.
​You can command good fees / hourly or daily rates when you are experienced and skilled.	​Uncertain income streams. Finding enough work to keep your expenses comfortably paid isn’t easy, especially when you’re new to freelancing.
​You can claim expenses for tax reduction when you file your tax return.	​No benefits such as health insurance, paid vacation, pension scheme etc.
You master your work hours. You decide if you work 3 or 5 days a week, full days or half days. For one company or more.	​No annual bonus payout or profit share.
​Learn new skills and try new things during the day you may not able to do if you were working all day in an office.	​Remain competitive. With your technological skills, communication, general behaviour, adaptability etc.
As you are likely to work in different companies as freelancer, you have a great chance to network.	​Proactively seek new opportunities to learn as well as to work and generate income.
​If you leave your full-time employment or have lost your job, freelancing can be a wonderful path to get an inspiring new job or project as companies do not have to commit to you longterm. You try them out and they test you too.	​Freelancers are often more productive and manage multiple clients because of their time-management skills. You earn only when actively working on projects. Learn to assert healthy boundaries if work is too much or briefings are too convoluted.
You are healthy most of the time (because you are not in an enslavement constellation that muffles you heart, spirit and well-being).	​No paid time off.
​Variety of projects	​In company case studies or credentials you and your input will not be mentioned.
​You get booked according to your expertise and strengths, but also according to your attitude, spirit and company match. A positive attitude is contagious.	It is key to build a client base and niche in the industry. It takes time, dedication and diplomacy.
You are free. Self-employed and in charge.	​You have to take a lot of responsibility and stay fearless and optimistic.

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