Freelancing is the preferred choice for many workers across the globe. With new and advanced technology, remote working has become more productive and flexible. Social Media networks and many online businesses have become a new hotspot for freelancers to market their skills.
Let us look at how freelancers work to understand the growing popularity of freelancing and its success.
Freelancing works as a substitute for a corporate job that means freelancing has a way of going around the work in their chosen manner. For example, in Western Europe, about 77% of people are freelancers compared to 42% in Central America.
Overall, 83% of freelancers around the world prefer to work from home. The freedom of flexible working hours and working in their comfort zone are the two profound reasons why people gravitate towards freelancing. However, the odds are always there, such as not getting enough income and work.
The prevalent fields in freelancing are not the high-paying fields but are in the most demands for their advanced skills. These fields show high competition among freelancers across the world. In contrast, you never know, the less crowded work fields might pay high rates for your work.
According to their hourly rates, let us look at current fields, from the lowest to the most popular.
It is well-known that the gender gap exists everywhere in terms of pay and other work opportunities. However, freelancing has become a new source to neutralize the gender gap.
As compared to the mean hourly rate of male freelancers, the female freelancers have 84% of the mean hourly rate across the fields. The female freelance workforce’s potential is rising, and that can become the means to neutralize the pay gap among them.
Do you need to get a degree or experience to start freelancing? You don’t need to. About 19% of freelancers are high school passed out, whereas 57% of respondents hold a bachelor’s degree.
Education does not define your quality and earning. If you have the skill to get their job done effectively, you can start freelancing anytime. For example, high school graduates are making more money than undergraduate freelancers.
As per the recent findings, the freelancing field offers considerable potential to become the most popular profession among the young and old generations. With economic satisfaction, you can attain job satisfaction with flexible working hours.
Though technical skills are in high demand, the other fields have the potential in income and career opportunities. If you have just started your freelancing career or made a shift from a corporate job, worry not. Freelancing can offer you multiple career opportunities.