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by biztos 2433 days ago
For loans, banks are looking for expected future stability in your income.

I would never discourage anyone from self-employment, but right now I'm watching a good friend try to get a mortgage in Germany... and he's been running his own company for 20 years... in a highly volatile industry... and let's say they'd be treating him a whole lot better if he had a boring day job at some big company.

If you're planning on stuff like mortgages and (depending on your passport) visas, "regular old job" is worth many multiples of self-employment. If your self-employment makes enough that you won't need a mortgage (etc.) then great, but I would bear it in mind when thinking about quitting the day job.
1 comments
mtbcoder 2433 days ago
> I would never discourage anyone from self-employment

I would, especially if they are in their prime earning years and are trying to become independent contractors. Software engineering jobs command high salaries and benefits these days. The opportunity costs are just too high and the odds of sustaining a one-person contracting show for 5, 10, 20+ years is slim to none.

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robjan 2433 days ago
It's easy to change from independent contractor to employee if you really want. The experience on the CV is just as good and you probably get paid (a lot) more.

The only real risk is that during economic downturns it may be hard to find contracts but your employer could fire you as well.

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nyokodo 2433 days ago
It depends on the market. I worked with contractors back in 2008 who said it became easier to find work during the crash because they were seen as Capital Expenditure while Full-Time Employees were considered Operating Expenditure and were being laid off en-masse.
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robjan 2430 days ago
This benefit is always true, especially in locations where you can write off CapEx against your taxes. My main point was that if you are a contractor and want a perm role you can just apply for a permanent job. You don't even need to write whether or not you were a contractor in your application form / CV, the hiring manager only cares about your projects and roles within the project.
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