Freelancing is a new booming opportunity in the Philippines. It allows you to work from home. It has flexible work hours which means you get to spend more time with your family and other more important things. Most importantly, it pays a more competitive income than local office jobs where you are typically required to have more and higher qualifications with less income.
However lucrative it may be, it is not for everyone. Some prefer a steady work flow and fixed hours of work. Client-hunting is sometimes really hard to do for some, too. If you’re a beginner, you will be competing with more experienced and trained freelancers, as well.
There are a lot of skills to offer; Social Media Management, Virtual Assistant, Writer, Web Developer, Graphic Artist, Illustrator, SEO Specialist, Ad Management, Marketing, just to name a few. But just like any other job, it has its own pros and cons. Before deciding to jump onto freelancing, let’s go over them.
Pros of Freelancing
1. Unlimited Earning Potential – Whether you are a Virtual Assistant, a Graphic Designer, Social Media Manager, or possess any skill for that matter, you have an unlimited earning potential. Most of the high ticket and seasoned freelancers online brag about a 6-digit monthly salary by bagging multiple clients at once. This is only possible, of course, with experience and a great portfolio. Showcase your previous projects, or anything you’ve worked on that highlights the position or skill you are offering. It also helps when you charge by project completion or a retainer fee instead of by the hour so you can multi-task, get a lot of things done all at once, and serve multiple clients in a day. Indeed, freelancing is one of the ways to earn more than your average office job.
2. Freedom to Choose Clients – When I say freelancers are in demand, I mean freelancer are in demand! This means that there are a lot of employers out there looking for a freelancer and it is you who will choose where to apply. You have the ability, as the freelancers, to apply in positions or companies that suit your preferences.
3. Flexible Work Hours – Aside from having the power to choose clients you would like to work with, you also have the power to choose your work hours. You can work as much or as little as you want, and you can choose projects that are meaningful to you. This also entails choosing the right company, gig, or employer that can accommodate your preferred working time or hours.
4. Getting the Chance to Get Your Dream Job – Remember the saying, “Choose a job that you love, and you will never have to work a day in your life”? This is very attainable and especially true for freelancers. Freelancers often offer skills that they are passionate about, and get a job on that specific passion they have. Pursuing work that you love to do and fills you up instead of draining you down is one of the best perks of freelancing.
Cons of Freelancing
1. No Security of Tenure – Let’s admit it. Although freelancing is a lucrative way of earning, your employer may terminate the employment contract at any time. Your gig may be cancelled by your customer at any moment. Freelancing does not secure you a permanent job position and allowance for mistakes is very, very minute. Your employment by your client depends on your performance, timeliness, and adherence to the terms set by the employer. This is the reason why you should always have a back up plan and never rely on one client or one gig at all.
2. No Employee Benefits – With freelancing, clients and customers are, most of the time, foreigners. Companies from all over the world outsource freelancers in the Philippines to help with their businesses. Most employers are only obliged to pay for the rate or retainer fee that you have set. All your other healthcare benefits, retirement plan benefits, and other insurance benefits must be paid personally by you. On top of that, some freelancing websites even earn a commission from your income. This is one thing to consider in setting your rate and negotiating with your employer.
3. Sporadic Work – One of the cons of freelancing is finding a steady flow of work after you finish one project. Since freelancing have no security of tenure, time and time again, you will be constantly looking for clients or customers. There are ways to combat this, like building your own personal brand so clients can come to you, but it takes time to build. Freelancing really is inconsistent work.
4. You Run Your Own Business – Seasoned freelancers actually treat freelancing as a business rather than an employment. As a business owner, you are in charge of sales and marketing, invoicing clients and customers, signing contracts, troubleshooting technology and paying your own taxes and business expenses. There is a lot of customer relationship management to do or CRM on top of your up front duties and responsibilities.
Personally, I am a full time mom. If I had to work a full-time job, me and my husband would have to get a nanny to look after our son which is an immediate addition to our household expenses. When I stumbled upon freelancing and what it is, I was able to work as long as I want while taking care of my son.
Working from home allowed me to save money for myself, as well as remain a full time mom. My husband and I agreed that all my earning as a freelancer would be categorized as a saving. He did not burden me with the responsibility of contributing to the family expenses financially. But if you are looking to augment your family’s income, this would work too.
Through freelancing, I don’t have to miss out on my child’s milestones and eliminate the additional expense of hiring a nanny. Freelancing does not work for everyone, but I can say that freelancing does work for me.
Weighing on the pros and cons, I can say that the pros outweigh the cons. Freelancing is a worthwhile earning opportunity that should be considered by everyone. You are left to choose between freelancing and with a normal day job with all the benefits. But a normal day job is toxic, you have less to no time left for yourself and your family, and the pay is mediocre and disproportionate with your workload. In a heartbeat, I would choose freelancing. What do you think? Is freelancing for you?
Victoria is a graduate of Doctor of Law and Bachelor of Arts Major in Political Science. Being a full time mom of one son, this blog is a reflection of her thoughts, passion, activities, and memorable life adventures in family life, motherhood, as well as personal misses and successes.