As you navigate your career path and decide what is best for you, there might be a time where you consider working for yourself rather than pursuing a full-time job. Whether it’s starting your own business or taking the extra step with your side hustle, a self-employment opportunity might present itself. Is it worth it though?
Each scenario has its pros and cons, and every person differs in what they value most about employment. If you find yourself in the in-between, trying to figure out what step to take next, weigh the pros and cons of working for yourself versus a company in order to make an educated decision and with careful consideration.
Self-Employment: Pros
The first (and maybe most obvious pro) is being able to be your own boss. By working for yourself, you allow yourself to make all the decisions of your work, whether that be creatively, financially, or personnel-wise. This is your chance to control your own destiny and can be a great way to improve your leadership and entrepreneurial skills. Of course, if you go this route you must ensure you’re knowledgeable enough in your field/industry to trust yourself. However, being able to control yourself is definitely a great power to have.
Many self-employed people find themselves fortunate enough to potentially make more money than full-time employees because they aren’t bound to an annual salary. Depending on the industry, you’re able to exceed the market salary for income through the venture of your business.
Finally, being able to flex your work schedule and make it fit around “real life” is extremely valuable. Not having to commit to a 9 to 5 job or going into an office is great for many people, and if this fits your kind of lifestyle, you may want to look into working for yourself. Self-employment often means working from home, which can yield to a better work-life balance.
Self-Employment: Cons
While the perks of self-employment may seem great, there are some cons to consider. Starting with the potential risk that starting your own venture can come with, it’s important to realize that getting your work off the ground can be a difficult task and will take time to develop and grow. No business is going to explode overnight, so being able to survive and withstand a potential shaky start, in the beginning, is something to be aware of before you commit to this direction of your career.
As mentioned previously, self-employment can be great in terms of flexibility, however, it can also be quite consuming and take up more time than you realize. While working full-time can offer things like paid time off and maternity leave, working for yourself has no “off the clock” and can often push you hours of work over what you intended. This kind of job will have you up early mornings and late at night, making sure everything is perfect.
Large Company: Pros
Compared to self-employment, working for a larger company can offer more perks and can take some stress off as an employee. More specifically, in terms of stability and structure. Rather than being the lone soldier, large companies offer set expectations regarding roles and responsibilities as well as standardized policies that all are expected to abide eliminating the risk of confusion. For example, items like timed work shifts and dress codes. These can allow for more planning and expectation into an employee’s day-to-day. Many people enjoy sticking to a dress code as it helps them feel and look their best. So, be sure to take note of company policy to incorporate these specifications into your everyday appearance.
Take note of expectations regarding wardrobe, and even grooming habits. You can likely find your company’s dress code in an employee handbook, and look to an employee you admire for their professionalism. Typically, men are able to create various outfits by mixing and matching different pant and shirt combinations. Ladies, don’t feel that this means you need to have endless clothing options. Truthfully, you can get by with these 10 work outfit basics. In terms of grooming, to ensure that you are fulfilling any and all expectations, take note of the products you’re using. If you find your look difficult to keep up with, research skin-protecting shave products that are known for precision and longer-lasting results. This will hopefully reduce the number of times you have to shave on a weekly basis, making any personal style preference maintainable.
Additionally, unlike running your own show, having a work environment at a full-time job can ease your stress and open your horizons to new people and new experiences. Having coworkers and a community around you will help you grow professionally and personally and who knows, you might just make new friends that can last a lifetime. Not to mention, large companies tend to offer salaried positions which have great benefits to help in planning for your future. Self-employment opportunities are less like to have standardized benefits like insurance, paid time off, and maternity leave options. These are all high-value benefits that should be top of mind as you weigh your options.
Large Company: Cons
For some people what may be the biggest con of working for someone else, is having a boss or hierarchy within the company. Reporting to someone is not the most ideal situation for many people but making do with what you have is truly all you can do. Becoming acquaintances with your boss is never a bad idea and connecting with them on a personal level will only help you grow in your profession.
Although the power structure might turn some people off, many people like having the structure, so just like many of the points discussed today, it’s completely dependent on your personality and preferences.
