As Americans continue to leave their jobs at historic rates, a trend toward acceleration known as the “Great Resignation” – A growing number of full-time workers are leaving their office jobs from 9 to 5 for something a little freer: contract work.
In doing so, many professionals are finding that they are in high demand for their skill set and can earn high incomes, with incomes around six figures, according to a recent article by Wall Street Journal journalist Kathryn Dill.
The ranks of specialized freelancers are expanding, according to a 2021 survey by the Upwork Concert Economy Platform. Among workers with a degree, 51% opted for self-employment last year, an increase of 6 percentage points compared to 2020, according to the survey. The number of skilled remote self-employed in fields such as computer programming and business consulting increased to 53% in 2021 from 50% in 2020.
“That used to be an offramp or something you would do if you couldn’t find a way in,” Dill told Anne-Marie Greene of CBS News. But the perception of contract work as a prelude to retirement or a “lifeline for those struggling” has changed in recent years, according to Dill, a development he says has been accelerated by the pandemic.
“Companies got used to working with someone they had never met in person and did a great job,” he said, adding that skilled workers are also beginning to see contract work as an attractive alternative to work. of traditional desk.
Many workers “want more money, they want more flexibility and they also want to control how they spend their working hours, what kind of things they are doing,” he said. “And so for a lot of them, independent consulting really does check these boxes.”
Can anyone be a contractor?
When considering leaving a full-time job to work under contract, the first thing to ask yourself is if you have a set of skills that are required.
“It absolutely depends on what your skill set is,” Dill said. “You want to be aware of how big the demand is, no doubt, before you do it all, but for many business projects, this is a great solution.”
Then comes the investigation. Dill suggests investigating state laws on health insurance options and self-employment taxes. “Health insurance, taxes: you want to be very familiar with the laws and regulations on self-employment where you live. And many of these workers don’t necessarily work all year, but they can work more hours each day. Who I spoke to, I say it’s worth it, but you have to be aware in advance. “
Health insurance can be a major obstacle to giving up a full-time job, although of course those who may switch to their spouse’s policy or who already receive medical coverage through their spouse are in an optimal position. . “Being married to someone with health insurance is really the way to go. Although certainly other consultants made it work, but it’s something you want to have in your budget in the future,” Dill said.
After all, if you’re still ready to cut the cord of your full-time job, your next step is to find a gig. The best way to do this, according to Dill, is through an active network.
“You want to talk to people you’ve worked with in the past and they thought you did a great job. That’s where you’ll find many of your roles,” Dill said. “But there are also companies, services that will place independent talent with entrepreneurs looking for staff projects and things like that, and that can be a good way to get in.”
- In:
- occupation
Add Comment