Which way should you go as a writer? Should you try to swing it out on your own or become an employee for a company?
Here are the pros and cons for each option:
Freelancing
PROS:
Freedom. You are your own person. You don’t need to listen to any boss figure. You “eat what you kill” and some people just love that kind of life.
Variety. Freelancers work on a variety of assignments, depending on client needs. Less chance for boredom.
Money. Successful freelancers earn more than their employee counterparts.
CONS:
Need to sell yourself. You need great social skills. You have to be an outgoing warm personality to win hearts and contracts.
Need to network constantly. You need to have a deep rolodex to keep in touch with decision makers and also with your colleagues for valuable references.
No benefits. You pay everything yourself and usually at a higher rate. Freelancers, for example, pay a lot more for medical benefits since they do cannot get group rates.
Corporate Employment
PROS:
High job security. If you do your job well, you don’t need to worry where your next paycheck is coming from.
Good benefits. Corporations lavish a number of benefits on their employees including medical coverage, paid holidays, and paid training opportunities.
No marketing. Once you find a full-time job, you do not need to market yourself day and night. Your job is there waiting for you every morning.
CONS:
Lower Income. Corporate writers, even if they are at a senior level, make less than experienced freelancers.
Lack of Variety. Some writing positions can become boring in the long run. Try writing assembly instructions for wooden garden furniture day in day out for 5 years.
Lack of independence. Your fate is tied to that of your company. When the company ship goes down, you’re out there without a job.
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