According to a survey conducted by independent research firm Edelman Berland and commissioned by the Freelancers Union, more than one in three workers – 53 million Americans – is now freelancing. By 2020, more than 40% of the American workforce, or 60 million people, will be freelancers, contractors and temp workers, according to a study done by Intuit in 2013.
Chances are high that you are currently a contractor or have thought about giving up your full-time job to be a contractor. When I left Corporate America in the Spring of 2012, I thought I’d never return. But in November 2013, I received an opportunity to contract for 25 hours a week, and here I am 18 months later! The X Factor I did not anticipate about building a large personal finance blog is that other companies would be interested in hiring me for my knowledge and services.
In this post, I’d like to discuss the differences between a full-time employee and a contractor. Some of you have told me that you never want to be a contractor because you don’t want to be treated poorly; like an outsider. While it’s true that as a contractor, you might not be treated as one of the team, there are plenty of other benefits that make the decision to contract or go full-time surprisingly difficult.