Should you leave freelance writing for a full-time job? This is a dilemma many freelance writers face, including some who have been freelancing for a long time and have had significant success.
There are many ways to approach the question, and the answer will be different depending on the individual and the specifics of the full-time job.
First the Money
You need to look at the total value of all the compensation — after taxes — you’ll receive and then compare that to what you make as a freelancer — after taxes.
Look at these aspects of the full-time job:
What’s the salary or wage? Remember that as a freelancer you must pay a 15.3% of your net income as the self-employment tax (in the United States). Your employer picks up half of this if you take the job. It’s an important consideration.
Does the company offer health benefits? How good are they, and how well do they compare to what you can get on your own through the Affordable Care Act or other options? You’ll need to look at deductibles, copays, family coverage, etc.
Is there a retirement plan, such as a 401K? How much does the company put in? Do you have to match it?
Are there other forms of compensation, such as stock options or profit sharing? These can be hard to estimate, but they can be very significant.
Does the company offer paid vacations? How many weeks per year? Does the vacation length increase over time? Approximate the value of this by taking the entire monetary compensation of all forms for a year and then dividing by 50 to get a weekly value. Multiply the weekly value times the number of vacation weeks.
Do you get sick leave? Maternity leave? Paternity leave? How significant is this likely to be?
Are there other cool things you can attach a monetary value to, like onsite child care or a free gym membership or an annual retreat in Hawaii?
Now the Other Considerations
How important is your freedom? Do you like to set your own hours, work at the coffee shop if you want, be able to take vacations at times of your choosing? Do you like to travel for extended periods, or visit other cities?
Travel is very important to me. My girlfriend and I house-sit in San Francisco about four weeks a year over the winter holidays. Neither of us could do this if we had full-time jobs. And as many of you know, I spent five weeks in Costa Rica at the beginning of 2015.
How much would you like doing the work? Want to do it full-time for months or years? Would you be happy, or would you get bored?
What’s the commute like? Would you have to drive through hellacious rush-hour traffic, or is it close by?
Will you like the work environment? Factor in everything, from having to take orders from one or more bosses to the pluses and minuses of working directly with other people.
How will it affect your loved ones? Many freelance writers have children, and they appreciate the flexibility to take care of their kids in and around work projects. And how would your husband/wife/partner/significant other feel about you taking the position?
In The End…
It’s a gut decision. You need to look rationally at all these factors and then mix that with what your emotional self tells you is the right choice.
And For Me?
My freedom is just too important. I would never say never because the right job with a cool business or a worthy nonprofit could tempt me, but I love to take off for days and weeks to travel. Also, I am a professional hiker of sorts.
Your Take
Have you ever thought about leaving freelance writing for a full-time position? Or have you done it? Share your story with us in the comments.
Hi John. I admit I miss the benefits of my corporate days – especially the employer-sponsored health insurance. But after 30+ years of corporate life, I can honestly say I have never regretted leaving it for freelancing. 🙂
I haven’t had a full-time job since I was in my mid-20s. I did like the health insurance, but I didn’t like having to show up every weekday.
These days you can’t even count on decent insurance from a full-time employer. My hubby’s last employer had amazing health insurance. That was nice. But his current employer has really bad policies. So bad, that even though we could be covered by it and have them pay a portion, we went to the marketplace. It was still cheaper than what he’d be paying for the lousy policy, and had far better coverage. I know that’s not the case in all areas, but it was for us thankfully.
From what I’ve observed, government jobs are most likely to provide decent health insurance. I know teachers who have very good plans.
John, this is a great article. There have been numerous times when the business lagged that I’d considered it, but the thought of fluorescent lighting and cubicles snapped me back to reality. LOL
But it’s true — there are trade-offs to both decisions. I like not having to figure taxes (I put aside 20%), but it’s a far cry from office politics and new bosses who decide you don’t fit.
I’d be most likely to take a full-time job if I felt that I would really be making a positive difference in the world — and I’d be making good money!
John, you didn’t mention when people have major life changes which can disrupt emotional and financial well being and potentially leave a person exhausted. In a period of under 18 months I went through several. To the point where I don’t feel like doing anything, write or work a full time job, though my days seem busy enough without doing either. Fortunately my finances are holding out and I do have huge chunks of money coming in over the next 2 years so making a decision is something I can keep procrastinating about. I’ve turned down what would be fairly easy for me writing assignments, and those I’ve taken on I’ve struggled with for no apparent reason. They’re in my niche and I’m comfortable with the topics. Whether I’d go back to a full time job, I don’t know, maybe short term to give myself something different to do for awhile, you know shake up my day. Part time work seems like it might be a better fit for me just to get me on the move. Like dogs and horses don’t already keep me busy enough!
Sometimes there are other struggles involved over the decision of continuing to write or work a job, where the reality is neither seems like a good fit. But good article!
Cheryl, I’m sorry to hear about your struggles. If we live long enough, life will eventually give us some major challenges.
And you’re right: there often are other factors that affect our work decisions. I’m glad you’ve got a good financial cushion; that always helps.
Oh John, where was this four years ago? I could’ve used this when I made the decision to go back to work full time and freelance on the side. Unfortunately I just accepted the position because it offered better pay than what I was getting as a freelancer. There are no other benefits besides paid time off (the employer likes to lump PTO and vacation all in category). Had I been really weighing the pros and cons (though I do get to work from home with the full time job) I definitely would’ve made a different choice.
It’s unfortunate that there’s no health insurance or retirement benefits. Perhaps you can go back to full-time freelancing?
Hi John,
After leaving teaching for freelance writing, I don’t see myself going back. Don’t get me wrong, teaching is a noble job, but I’m a freelance writer.
Terrence, I hear you. I taught college-level political science courses for several years before going freelance full time.
Hi John,
I’m going through this right now. I enjoy freelancing for the last 10 years (after years of corporate life on B2B magazines), but haven’t ever hit the level of steady success that a full time gig offers. This is partly my fault as I’ve always felt the pressure of paying the bills and that stifles the ability to take a step back and effectively set up systems and market. I teach to help pay the bills, but the time vs. pay as an adjunct is not close to ideal.
I’ve done some interviews for full-time marketing jobs, but nothing has worked out yet (both from the employers and me). I’m being selective as I don’t want to give up too much (long commute, time with kids) just in the name of steady money.
It is a very tough decision and I’m not sure which way I’ll go eventually, but the considerations you list are a great way to weigh it out.
I’m glad the post helped you, John. It’s a tough decision. I hope either the right position comes along or your freelance writing income improves.
John, I’ve done both… quit freelancing to take a writing job, or some other regular source of income, and quit those to go back to freelancing. The jobs have benefited my freelancing in terms of skills, working with others, and such… not sure how much the freelancing benefited employers.
A truth about me is I’m a damn fine worker and not a very good employee.
I was a good enough employee, but I didn’t like the rigidity of schedules or having to take orders I didn’t agree with.
I think about going back to a corp job almost every day, just for the steady pay and benefits (insurance). I’ve been working as a freelance writer for about 5 years now and still struggling to make ends meet. But I do enjoy the freedom of working from home and whatever hours I feel most productive. Like many grown-up decisions/choices, there are trade-offs.
Hey John,
I’ve been considering this a lot myself lately. I love, without question, my freedom and ability to spend time with my family. But Income hasn’t been as great of late, and I’m concerned both about where it’s going to lead and my ability to correct that. I’m not sure I’d consider myself the best marketer. But your article makes a lot of sense and gives good food for thought.
It’s a personal decision for all of us, Matthew. My income fluctuates up and down. Sometimes I have a few weeks with no assignments, and the I get swamped with more work than I want.
Having a regular job does provide steady cash flow, and you can also freelance on the side.