Slashdot Mirror
The Hidden Costs of Going Freelance
snydeq writes: IT pros lend firsthand advice on the challenges of going solo in Bob Violino's report on the hidden costs of going freelance in IT. 'The life of an independent IT contractor sounds attractive enough: the freedom to choose clients, the freedom to set your schedule, and the freedom to set your pay rate while banging out code on the beach. But all of this freedom comes at a cost. Sure, heady times for some skill sets may make IT freelancing a seller's market, but striking out on your own comes with hurdles. The more you're aware of the challenges and what you need to do to address them, the better your chance of success as an IT freelancer.'
I'm seeing all this as though it's a choice. Like there's some guy with well combed hair, checking his watch and driving a lexus who makes the choice to begin an exciting new chapter in his life.
Do you stupid fucks seriously think I want to work like this with no insurance and dental and being afraid of starving?
THERE'S NO FUCKING JOBS YOU IDIOTS
Subby needs to get his teeth knocked the fuck out with a clue stick.
The Slashdot header says cost, TFA header says "pitfalls". One I've seen that is either (or both) is sales. When you are freelance, you have to spend time bidding, designing for bids, building client confidence, and other things that aren't billable.
If you aren't prepared to spend 20% of your time on unpaid sales, you aren't ready to go freelance. Yes, that's a high number. But in a down/slow time, it'll not be far off. When things are good, you'll be spending a few spare minutes on the next job, but if you only plan for the best, you'll only get the worst.
Learn to love Alaska
Couldn't find it on the list: time for getting new client.
I've been doing the contracting thing, where the client hires me to extend their on-site team. Recruitment agencies call me, I have an intake over the phone with the client and then meet them face-to-face. So I don't recognize the things mentioned like "fixed-price contract", I just have an hourly rate. You can spend anything from a couple of months to a couple of years working for the same client.
I very much like it, but I work 4 days a week. That one day a week is really useful when the contract ends, because then you'll have to start emailing recruiters, looking for the next project. The phone and face-to-face interviews take hours, and it's hard to stuff that away in the usual 9-5 business hours.
The iOS job market is great currently, so it's not hard finding a project.
8 of 13 people found this answer helpful. Did you?
Because its the degree that matters...ffs
The degree demonstrates two things:
(1) A base level of knowledge, which does not necessarily indicate talent in the field so its not the sole qualification.
(2) An ability to **complete** a long bureaucratic process that includes some uninteresting tasks. That may be the more important thing demonstrated.
If that happened to you, without you suddenly making the income that would justify it, for the love of heaven seek out a tax professional. You do have to pay both your half and the employer half of FICA. But, almost certainly your tax bracket should go down*. Or you FUBARed your taxes.
Your ad here. Ask me how!
When I read some blogger bragging about the great joys of freelancing, I want to beat them over the head. Sure, you can make a living, for a while... and if you have the right skillset you might even make good money... for while! but skillsets change over time and although you can reskill, you'll never be as good at tomorrow's tech as what you are with today's.
What counts most in business is connections. Freelancers by definition don't have connections. When work dries up, no one has has their back.
These freelancing is greeeeeeat bloggers are like some guy bragging he picks up lots of babes. Maybe he does. Maybe he doesn't. So some harsh truths:
> the freedom to choose clients,
Truth: You will beg for work, take anything thrown your way, and be thankful for it.
> the freedom to set your schedule,
Yeah. Lots of time to do what you want "between jobs"
> and the freedom to set your pay rate while banging out code on the beach
Truth: Payrates are pretty low. You are competing with guys in third-world countries. Some of them write sucky code, sure, but others are very good, and they can live very comfortably on what for you is a meager wage.
Freelancing can mean varied work and even good pay... for a while! but there are many advantages of working for the man: job security, safety in numbers. and being able to fallback to a career in management which has good pay and doesn't demand you're up to date with the latest tech.
So next time someone brags about being a freelancer, wonder why if business is so good he is able to waste time blogging, and while you ponder this question, give him a wedgie.