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Should You Work Full-Time or go Self-Employed?

When thinking about the kind of job you want to do it is important to consider whether you want to work for a company or yourself.  In the current economic climate, it may be more difficult to secure a career than you would expect. But first you will need to decide whether you want to work in full-time employment or whether you want to work for yourself.

There are pros and cons to each decision. Whatever you decide it is important to make sure that you understand exactly what you are getting into. Deciding what career path you want to take can be a daunting prospect. Even more so if you are indecisive about what kind of thing you want to do.

These days your two basic choices are to work for a company as an employee. Or to work for yourself as a freelancer or self-employed worker. Both of them have their advantages and their drawbacks. It’s important to look at those before deciding which of the two options you want to pick.

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Full-time Employment

Full-time employment is the basic career path for most people. You would take a job at a business or organisation. You may remain there for many years and work your way up through the internal ladder. You may even leave and move to a different company but doing a similar job.

This is the classic career job. There are so many opportunities for this kind of career. There are many online resources providing detailed job descriptions for all manner of careers. Once people settle on a full-time career, they are likely to be there for the majority of their working life.

Full-time employment carries an array of benefits including sick leave, holiday and pension schemes. You also have the reliance of a regular paycheck and constant, indefinite employment. Working as an employee, you have only limited responsibility. If the organization suffers, you will not have the responsibility of dealing with it.

But there are problems. Many jobs are being replaced by technology now. Computers tend to be cheaper and more efficient in the long run. As a result, many businesses are downsizing to save money, so job security is not what it used to be.

Also, you are working for somebody else. You are answerable to people, and you have to adapt and evolve to another person’s form of thinking. Full-time employment is one of a routine and can prove to be monotonous especially if it is not something that you want to do with your life.

Self-employment

Nowadays the ‘career-for-life’ concept doesn’t exist anymore. People of all ages and statuses are packing in their day jobs and making a decision to work for themselves. The internet has made it easy for anyone to become self-employed, and people are taking these opportunities.

Working for yourself has perks. You are your own boss. You are answerable to no-one. You can set your hours, work at your pace and decide how much money you will earn. You may even be able to work from the comfort of your own home.

But there are drawbacks to being self-employed too. You may have to shell out quite a lot of money at the start to get yourself or your business up and running. You will be responsible for marketing and promoting yourself. You’ll also need to deal with any difficulties the business encounters.

Another issue is that you don’t have a steady paycheck. If you are a freelancer in particular, this can be an issue. You will need to work out how much you need to work to earn a liveable wage. You will also need to take into account that you will not be paid for things such as holidays and sick leave. Make sure that you can afford to take time off first.

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