As the world continues to evolve, as do the ways we work. While it used to be that everyone was confined to an office working 40 hour weeks, times have changed. Due to shifts both in and out of our control (COVID-19), many businesses have turned to remote operations, and 35% of the entire American workforce is now considered to be made up of freelance employees.
For anyone who doesn’t like to be tied down, this is an exciting prospect, but there are some considerations to be made before going freelance. When you are essentially hired at-will, planning will be key as you will need to consider the need for insurance, how you will market yourself, and how this change will affect your finances. With that said, there are some exciting prospects in freelance tech that we will discover below.
The Tech Industry is Turning to Freelancers
When the COVID-19 pandemic hit American shores, it made a major impact on our economy and how we do business. Companies that couldn’t transition to a remote workforce were forced to let go of essential employees. While things are starting to look up, many industries have stuck with the remote routine and many are hiring freelancers. This isn’t just a fluke either, as it is estimated that by 2028, 45% of tech roles will be freelance.
Freelance workers are desired for many reasons. For one, technology is always changing, and companies never know when a new issue will come up that their existing IT team is unfamiliar with. In these situations, a freelancer with specific expertise can swoop in and assist until the problem is solved. Freelance work is also good for companies that are starting a project that has an end date. They can hire who they need until the project is complete.
For companies that are just getting off the ground but don’t have the funds to hire a full-time tech pro, freelance is a no-brainer. They can hire someone for the short term to set up their infrastructure, employee profiles, and verify that all systems are ready to go. For current freelancers, this could be a good way to show off your skills and get your foot in the door for future work with that organization.
Considerations for Freelancers
Another major advantage that tech companies achieve by hiring freelance workers is saving money by not providing the benefits and perks that they pay to their permanent employees. Unless stated otherwise, freelance workers won’t receive health insurance, sick and vacation time, or other expenses that we often take for granted when working out of the office. Because you will only essentially be receiving a paycheck and nothing more, you will need to look at other ways to get health insurance, which may be through the employer of your significant other or an insurance exchange.
As a freelancer, you will need to work twice as hard as a regular applicant to find work. To find steady employment, you will need to market yourself by creating a website, sending out emails to potential companies, and joining social media sites like LinkedIn to network with those you know and have worked with before. You will also need to make time to create and send out billing invoices, follow up with those who have yet to pay and file your taxes as an independent contractor.
Another consideration you will have to make is how your career as a freelancer will affect your credit. Many lenders may consider the fact that you are a freelancer before approving credit or a loan, with the primary reason being that you cannot guarantee that you will always be employed to pay back what you owe. If you currently have a low credit score, you may be turned down when it comes time to buy a house, so if you are planning to do so in the future, you may want to wait until your credit improves before going freelance. When you have your finances in order, take the plunge.
High-Paying Prospects
While you may have to pay a bit more for insurance and put more money away in savings, many tech jobs pay handsomely and make up for those costs if you have the skills. Some of the most sought after and highly paid tech skills in the freelance market are on this list and include experience with image object recognition, virtual machines, and Google Adsense API, among others. Freelancers with experience and knowledge of one or several of these areas would be wise to add them to their resumes immediately.
One of the most highly sought after skills on the list is bitcoin, and those experienced in this area, along with blockchain technology, can make upwards of $215 per hour. There are many career opportunities available for those with knowledge as tech companies are looking for everything from blockchain developers and project managers to quality engineers to make sure the process is done right. This is just the tip of the iceberg as many see blockchain to be the future as it will soon be used in the finance, healthcare, and gaming industries.
As hackers and cybercriminals evolve, there is an increased need for security experts and consultants to backup and protect systems against cyberattacks. Security experts can earn over $100,000 a year or more as they jump from company to company. There are multiple positions under the cybersecurity umbrella, including the role of a security architect, malware analyst, IT engineer, and more. All of these positions are challenging and constantly changing but are also very rewarding.
If you ever wanted to become a freelancer within the tech industry, this is the time to do it. With many opportunities and plenty of money to be made, it might be the best career choice you ever made.
Luke Smith is a writer and researcher turned blogger. Since finishing college he is trying his hand at being a freelance writer. He enjoys writing on a variety of topics but technology and entertainment topics are his favorite. When he isn’t writing you can find him traveling, hiking, or gaming. You can find Luke on Twitter @lukesmithwrites