A growing number of full-time employees are leaving their 9-to-5 jobs in favor of contract work.
Many professionals realize they are highly sought after for their specialized skills and can make high incomes. According to Kathryn Dill, a recent article, some earn in the mid-six figures.
According to the 2021 survey conducted by Upwork, the number of skilled freelancers is growing. According to the survey, 51% of workers with graduate degrees chose freelancing in 2018, an increase of 6 percentage point from 2020. From 50% in 2020, the number of remote freelancers skilled in computer programming and business consulting grew to 53% by 2021.
Dill explained to CBS News’ Anne Marie Greene that “this used to be an onramp or something that you did if there wasn’t a way to break into.” Dill says that the perception of contract work being a prelude or a “life-raft” for those in need has changed over the years. Dill believes this is due to the pandemic.
“Companies became used to working alongside someone they hadn’t met in person, who did a great work,” she explained. She also said that skilled workers are beginning to consider contract work an attractive alternative to traditional desk jobs.
Many workers want more money, flexibility, and control over their work hours. Independent consulting is a great option for many of these workers.
Can anyone be a contractor.
If you are considering leaving your full-time job to take on contract work, it is important to determine if you have the skills that are in demand.
Dill stated that it all depends on your skill set. This is a great way to find out how much demand there is before you jump in.
Next, research. Dill recommends researching state laws regarding health insurance options for freelancers and taxation. You should be familiar with local laws regarding freelancing and taxes. These workers may not work full-time, but may work longer hours every day. It’s worthwhile, according to the ones I spoke to, but it is important to be upfront.
It can be difficult to give up your full-time job to get health insurance. However, those who can either switch to their spouse’s policy or are already covered by their spouse are in an ideal position. It is a good idea to be married to someone who has health insurance. Dill stated that while other consultants may have done the same, it is something you should consider for your future budget.
If you are still looking to quit your job as a full-time employee, the next step is to find a gig. According to Dill active networking is the best way to do that.
You want to talk with people who have worked with you in the past and thought you did a good job. Dill stated that this is where you will find many of your jobs. There are also companies and services that will place independent talent with employers who are looking for staff projects or other such things. That can be a great route in.”
