Freelance vs Employee

As the way we work continues to change, more and more people are considering freelancing as a viable career option. But what are the differences between being a freelancer and being an employee? In this article, we'll explore the pros and cons of each option.

Freelancing

Pros

Freedom and flexibility: Freelancers have the freedom to choose their own projects and clients. They can also work from wherever they want, whenever they want.

Variety: Freelancers typically work on a variety of projects, which can keep the work interesting and challenging.

Control: Freelancers have more control over their work and their schedules.

Cons

Inconsistent income: Freelancers don't have a steady paycheck like employees do. They have to find their own clients and projects, and the amount of work they have can vary greatly.

Self-employment taxes: Freelancers are responsible for paying their own taxes, which can be confusing and time-consuming.

No benefits: Freelancers don't receive benefits like health insurance, paid time off, or retirement plans.

Employee

Pros

Steady income: Employees receive a steady paycheck and don't have to worry about finding their own clients or projects.

Benefits: Employees typically receive benefits like health insurance, paid time off, and retirement plans.

Job security: Employees have more job security than freelancers, as they have a contract with their employer.

Cons

Lack of control: Employees have less control over their work and their schedules than freelancers do.

Limited variety: Employees typically work on the same projects for a longer period of time, which can be less stimulating.

Limited freedom and flexibility: Employees have less freedom and flexibility than freelancers do, as they have to adhere to their employer's schedule and policies.

Lancr

Lancr is a platform that provides benefits for both freelancers and agencies looking to hire them. By using Lancr, agencies can save 75% in fees and 2 hours a week paying their freelancers. We make paying your freelancers easy by combining smart payment routing and easy-to-use time tracking and approvals. By using Lancr, you can save time and money when paying your people.

Conclusion

Deciding whether to become a freelancer or an employee depends on your individual situation and preferences. Freelancing provides more freedom and flexibility, but can also be less stable and come with less benefits. Being an employee provides more stability and benefits, but can also come with less control and variety. Regardless of which option you choose, Lancr can help you save time and money when working with freelancers.