Do freelance make a lot of money?

10 October, 2021 Joe Latson 6

Answers (6):

    15 October, 2021

    Between 30-60% of freelancers make more than $85,000 in annual revenue. According to the Bureau of Labor Statistics, in 2014 there were 7.6 million freelancers in the United States which accounted for 34% of all self-employed persons working on their own or contracting with others without paying employees. The higher estimate takes into account that many freelancers would have been reluctant to report their income since they are not required to do so by law--which is one key point when it comes to discussing what freelance is actually worth.

    15 October, 2021

    Do freelance make a lot of money? Yes. The more you work the more you make, but there are many factors to consider, including your skill set and location. According to this article on Venture Beat, freelancers who began with 30-hour weeks are now working 60 hours or more per week - one freelancer reported that she was averaging 75 hours of work each week. So yes it's possible to make a full-time salary as an hourly wage on top of commission, but not everyone can afford the necessary commitment.

    15 October, 2021

    This is not something that can be answered with a general "yes" or "no". Freelance work can range from projects where the person is paid by hour, to ones where they're paid per project. Contracts will also vary depending on the freelancer's experience, location and company. There are plenty of projects that someone could do as an independent contractor for less than $10 USD an hour; whereas there are other projects within higher pay tier ranges coming out of Silicon Valley at more than $100 USD an hour, or elsewhere in other high-cost cities elsewhere around the world.

    15 October, 2021

    Freelance work is an option for people who feel they can make more money on their own than in a traditional 9-5 job. While the cost of living has increased over time, freelance workers may be able to make more money and incorporate lifestyle considerations into their decision to take this route. People considering making the switch should weigh the benefits and drawbacks before quitting their full-time jobs for freelancing. Such risks may include: low earning potential (especially when new), lack of long term stability and benefits, and difficult competition with other seasoned professionals vying for limited project roles.

    15 October, 2021

    No. In fact, freelance often has an unpredictable income, with low rates for some jobs and high rates for others. The more specialized a freelancer is in their skillset, the less likely it is he or she will be able to find work. Freelancing also includes the risk of not finding any work at all in a dry spell; which could lead freelance into poverty very quickly if he or she doesn't have other means of income. Day labor or contract work tends to make far more money than freelancing because full-time employees are prohibited by law from taking on outside contracts during working hours unless they're specifically authorized to do so by their employer.

    15 October, 2021

    Yes. I know a freelance journalist that averages about $30,000 per month from editing and writing for around 10 or 11 different publications, including three "D-list" newspapers in New York City in a variety of fields. However, it doesn't take a lot of time for money to add up when freelancers write content in demand -- about half the time their article is published online people are paying them to take the article offline and print it.