The Weekly Grind

Is Freelancing an Option?
When the side becomes the main

The traditional job market is undergoing a seismic shift. Faced with stagnant wages, limited flexibility, and increasing competition, many young workers are turning to freelancing as an alternative. In the U.S., freelancing has become a significant force, with 64 million people, or 38% of the workforce, now working independently. In 2023 alone, freelancers will contribute a staggering $1.27 trillion to the economy. By 2027, experts predict that freelancers could make up 50% of the workforce. But while freelancing offers undeniable benefits, it is more a sign of the decadence of the current job market than a desirable shift.

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The freelance shift

Freelancing is a great option for young professionals who've been turned down by the traditional job market or are seeking more autonomy. The pandemic has made freelancing more popular because remote work has become the norm and people are looking for ways to make extra money. Millennials are especially into freelancing, with 50% of them having side gigs.  For most freelancers, the money they make matches or exceeds what they make in traditional jobs. However, income instability and lack of benefits, like health insurance and retirement plans, are a major drawback.

A lot of freelancers would prefer to have a full-time job and keep their freelance work as a side hustle. The reasons are clear: traditional jobs offer financial security, benefits, and structured career progression-things that freelancing often lacks. Freelancers also have to shoulder the burden of self-marketing, constantly scrambling to secure new clients and maintain a steady workflow.

Burnout is another risk. Juggling multiple projects, deadlines, and client demands can take a toll, especially when there's no clear line between work and personal life.

So... should we go freelance or not?

Freelancing offers unparalleled freedom and the potential for higher earnings-the average freelancer earns $28 per hour, more than 70% of traditional employees. In high-demand fields like software development, digital marketing, and financial consulting, freelancers can command even higher rates. However, only a certain percentage of freelancers can secure a steady stream of projects, and the work required is often more than the average 9-to-5.  

In the end, having a job is (in most cases) better than having no job, so if you are struggling to get hired, freelancing is an option, the key is to understand that often is not a solid option to fully replace a traditional job.

Are you team freelancing or team traditional job? Let’s connect on LinkedIn and discuss how to navigate the job market. 💼

Leveraging Your Freelance Experience

Freelancing can sometimes raise eyebrows among employers who value stability and teamwork. But with the right approach, you can reframe your freelance experience as a unique asset that sets you apart in the job market.

Frame Freelancing as Diverse Professional Experience

When discussing your freelance career, emphasize the variety of industries and clients you’ve worked with.

For example: "As a freelancer, I’ve collaborated with clients across tech, healthcare, and retail, adapting to different team dynamics and workflows. This has taught me how to quickly integrate into new environments and deliver results under varying expectations."

Highlight Business Acumen

On LinkedIn or Cover Letter: "Freelancing has equipped me with strong business acumen, from negotiating contracts to managing budgets and timelines. These skills have prepared me to take ownership of projects and deliver results with accountability."

Bridge the Stability Gap

Reframe freelancing as a strategic choice: "I chose freelancing to gain diverse experience and expand my skill set. Now, I’m excited to bring that expertise to a stable role where I can contribute to long-term organizational goals."

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