FFN #10: Myth Busters: Freelancing Edition

🔐 There’s no job security!

We've all heard it a million times, usually from our concerned parents: "Self-employment equals zero job security." But, let's be real, it's not so cut-and-dry. Job security is about as subjective as fashion trends. Say you're a traditional 9-to-5er and poof, your job vanishes, taking your entire income with it. Now, let’s talk freelancing – lose one client, and you're not exactly singing "Hello Darkness, My Old Friend." You might just kiss a part of your income goodbye. Finding a replacement client is often easier than scoring a full-time job, especially in today's ultra-competitive job market. When the economy is unsteady, companies tend to shy away from permanent hires. Instead, they swipe right on freelancers. So self-employed folks can have more job security than most expect.

💸 Freelancers don’t earn good money…

We bet you've seen that classic "Wait, you're a freelancer?" look, complete with a dash of confusion and a sprinkle of concern. It's the age-old myth – freelancers don't roll in the dough. Starting out can be a bit of a financial rollercoaster, just like any startup business. However, as you clock in more experience, grow your network, and beef up that portfolio, the referrals start pouring in, and you've got the power to negotiate your hourly rates. If you're feeling a bit lost on what you should be charging, we've got you covered. Take a look at our Rate Transparency Database, hard data like this can help you feel confident in raising your rates. 

📈 The market is oversaturated.

In 2023, the U.S. boasts around 73.3 million freelancers, and projections indicate a jump to 90 million by 2028. Some argue that the market is becoming oversaturated, but the emergence of freelancing platforms like the Freelancing Females Jobs Board tells a different story. These platforms make it easier than ever for businesses to collaborate with exceptional freelancers. Even giants like Google are getting in on the action, with a workforce now counting 120,000 freelancers/contractors, surpassing the number of permanent employees. The gig economy isn't just a phase; it's here to stay. According to the World Economic Forum, by 2025, over 50% of the global workforce will be part of this new world of work.

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