The gig economy is growing fast as more professionals put their skills to use as freelancers. An Upwork study revealed that 59 million American professionals were involved in freelancing in 2023—representing more than a third of the United States workforce.
What is freelancing, and how and why should someone consider becoming a freelancer? This article defines what freelancing is, presents its pros and cons, explains how it differs from full-time work, and outlines the types of freelance work available.
- What is freelancing?
- How does freelancing work?
- Important Statistics Freelancers Should Know in 2024
- Benefits of freelancing
- Disadvantages of freelancing
- The main differences between freelancing and a full-time job
- 9 categories of in-demand freelance work
- Tips on how to start freelancing and be successful in 2024
- Ready to be freelancing?
What is freelancing?
Freelancing is doing specific work for clients without committing to full-time employment. Freelancers often take on multiple projects with different clients simultaneously. The Internal Revenue Service (IRS) considers freelancers to be self-employed individuals.
How does freelancing work?
Freelancers handle contract work on a part-time or full-time basis and often sign agreements before starting projects.
With freelancing, the client pays per project, per task, or hour, depending on the agreement. Freelance projects typically involve short-term assignments, although satisfied clients often request follow-up work. Most freelance jobs are available in the skills, service, and creative sectors, such as copywriting, programming, engineering, and marketing.
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