| I'm not a developer but I've basically been freelancing since I was 19 (I'm now turning 30). I never got a corporate job simply because where I live, I can take advantage of favorable exchange rates to make far more than any corporate job. The pros: 1. Once you get good at what you do, you can command a premium, and clients will happily pay for it. 2. Over time, you develop enough case studies to win clients easily. I now no longer have to worry about finding clients. 3. You develop a LOT of ancillary skills. Though my core expertise is marketing, I've learned everything from Photoshop to building basic websites simply because it was cheaper to do it myself than finding and hiring a sub-contractor. The cons: 1. Working alone isn't any fun, especially if you're slightly extroverted as I am. 2. I don't know by how much, but I'm sure it impacts your career negatively. I'm not sure how welcome I would be in a corporate role if I ever decided to move in that direction. I certainly don't have a traditional resume, and few hiring managers are equipped to evaluate it. 3. Taxes can be a pain. Most freelancers neglect to factor in the 30% that will end up going towards paying the government. My advice: 1. Figure out if this is for you, and if it is, go for it 100%. The only way to build a lucrative freelancing career is to build up a large portfolio of proven work, and a network of clients. Neither of these can be done overnight. 2. Add 30% to whatever rates you decide are good for you. That's tax and shouldn't be touched. 3. Work for results, not for work. If you're competent at whatever you do, you will enjoy showing results (or finished products) far more than just sending a report of XYZ tasks completed for the month. It also gives you way more control over how and when you work. 4. Incorporate. I did this way too late and as a result, my financial history has a few missing pieces. This can impact how willing banks are to lend to you. 5. If you can, get monthly retainers. That's the surest you can get to the comfort of a salary. 6. If you can work from anywhere, take advantage of lower cost of living in other cities/countries. You'll save way more. |