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The Pitfalls of Freelancing

THE Pitfalls OF Freelancing Freelancing has become an enormous part of the work landscape. For many Americans, the days of 40-hour work weeks spent in the office are long gone, and they're happier because of it. But not having a stable employer can also have big downsides, such as missing out on employer-provided medical insurance and getting stiffed by clients. With the economic downturn, freelancing is tougher than ever. Lay of the Land As the American workforce changes, freelancing is emerging as an extremely popular career choice. 1/3 of American Women dominate the freelance workers are work- ing independently. world. 60% 40% Women Men Freelancing Independent Contracting Temp-Working Part-Timing Freelancing is popular across all generations. Freelancers are generally highly educated. 26% 42% 31% Millennials Gen-X Boomers Those with Master's Degrees: 20% Freelancers General Population Tech work currently dominates the world of freelancing. Top 10 In-Demand Freelancers PHP Programmers WordPress Programmers Article Writing Graphic Design HTML Programmers CsS MYSQL 10 Photoshop Blogs Javascript And IT freelancers make the biggest chunk of the change. Total Earnings Breakdown by Category (Based on Elance.com) 59% IT 3% Other 24% Creative Operations Marketing Freelancing's Pitfalls Freelancing is a great choice for many people, but it's also filled with pitfalls. What's worse is that many of them are unavoidable, even for the most experienced freelancers. Here are some of the worst that you'll need to watch out for. Unemployment Scraping By 8 in 10 1 in 2 freelancers didn't get unemployed freelancers dug into their savings in 2009. enough work in 2009. 4 of the 8 went stretches with no jobs at all. Health Care 12% were forced to use foodstamps. Nearly 1 in 2 freelancers' #1 concern is not having affordable health insurance. 26% borrowed money from family and friends. 37% used credit cards. Coo00000 Getting Stiffed 4 in 10 cut back health care because it became unaffordable. Nearly 8 in 10 freelancers has had an employer refuse to pay. IOU The average freelancer got stiffed for $6,000 total But Remember: There are Plenty of Perks Many freelancers are doing well for themselves. Most freelancers truly enjoy the work that they do, despite the pitfalls. Nearly 50% of freelancers saw their incomes 80% increase in the past year. have high hopes for their careers. 60% of freelancers are happier being independent workers than employees. Source: MastersDegreeOnline.org References: http://talentmgt.com/articles/view/survey-freelancers-happier-generating-more-income http://opinionator.blogs.nytimes. com/2011/12/01/health-care-for-a-changing-work-force/?hp · http://www.gao.gov/products/GAO-06-656 • https://www. elance.com/p/freelance-talent-report.html - http://fu-res.org/pdfs/advocacy/2010_Survey_Summary.pdf · http://www.census gov/hhes/socdemo/education/data/cps/2009/tables.html O9O This Work is Licensed Under a Creative Commons License BY NO ND ED

The Pitfalls of Freelancing

shared by bobbybernethy on Mar 07
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Freelancing has become an enormous part of the work landscape. For many Americans, the days of 40-hour work weeks spent in the office are long gone, and they're happier because of it. But not having a...

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