Freelancing income depending upon professional structure in 2021.
Do you often get the ‘money’ question whenever you tell someone that you’re a freelancer? Well, in 2021, a freelancer can definitely be paid a competitive salary if you put considerable time and effort into it. Depending on how you want your work-life balance, you can take as many projects as you want, and demand a fairly good price for your skills and effort.
Recently, freelancing has become a popular option for people looking to work more independently, where they have control over the jobs they take on. The demand for talented freelancers has been growing at a fast pace, mainly because companies are able to get their work done without having to pay for a full time employee. On the other hand, this enables freelancers to set their prices and work on projects that interest them.
Several past industry research suggests that 60% of the people who left a full time job to become a freelancer make more money than they did in their previous jobs. Thus, whether you’re a fresher or an experienced person, the freelancing industry has a lot of potential for you to grow while working on things that you like.
How much can you earn as a freelancer in top fields?
1. Software development and programming
Programming jobs, especially software and application development projects are one of the highest paying jobs in the freelancing industry. Your experience and the number of code languages you have mastered play a considerable role in it, but if you constantly adapt to the changing technology and hone your skills, you can demand a great pay from your employer. In 2021, as a freelance developer who’s just starting out, you can easily demand up to $150 per hour if you have a solid skill set in coding.
2. Web design and development
As more and more companies are getting up-to-date with the latest technologies and trends, web design and development has picked up at a massive rate. However, since it’s relatively easy to learn the basics of web design, the industry has been crowded by several newcomers who might not offer great results. Here, as a freelancer it’s important to create a niche and specialisation to stand out of the clutter. Freelance web developers can charge from $50-60 on an hourly basis for their work. This rate can be significantly higher if you have relevant experience and expertise in the field.
3. Content writer
Today, every company has a vital marketing strategy that requires them to produce or write content. This is another industry that has blown up in recent times, and there are several freelancing opportunities here. If you have a good command over language and vocabulary, you can earn up to $5000 a month. However, before you assume that content writing is anyone’s cup of tea, it’s important to understand that this field requires a keen eye for creativity, amazing research skills and the understanding of human psyche in order to produce content that people would like to read.
Several people assume that content writing and copy writing is the same thing. Although there is an overlap in the two, they are very different when it comes to the nature of work. A copywriter can do anything ranging from advertisement headlines to writing copies for websites and more. It is more persuasive in nature, and aims at hard selling. As an experienced copywriter, you can easily earn up to $200 per hour, considering you have a good writing ability and a passion for persuasion.
There are more than 7000 languages worldwide, and if you can read and write even one of them fluently, then you can take it up as a career option. Today, more and more companies are trying to adapt their communication in a way that it caters to a larger audience. Hence there’s a growing demand of translators who can effectively translate material into different languages. A skilled translator can easily earn up to $70,000 a year, provided that they can understand the meaning of the text and translate it into another language while keeping its essence intact.
There are several other fields that pay extremely well to freelancers who have the right set of skills and knowledge. Knowing your worth and demanding a good pay is important when you freelance.
Why is freelancing a good option in 2021?
With the advancement of technology, you can easily sit at home and work for a company that is thousands of miles away. Freelancing websites and job platforms have increased the access of high paying jobs to people.
With the rise of work collaboration tools like Zoom, Google Teams, Skype and more, it has become easier to communicate and collaborate without being together.
As 2020 forced everyone around the globe to undertake the practice of Work from Home, the mindsets of companies have evolved, where they prefer people working for them remotely.
Freelancing saves a lot of costs for the company, since it enables them to cut costs on infrastructure, employee benefit packages and more. Moreover, developed countries can get their work done from a freelancer sitting in a developing country at half the price.
2021 has given several opportunities to freelancers to grow and tap into niches that were otherwise out of their reach. Although being a freelancer has its set of challenges and drawbacks, there are several positive points too. It can act as a source of extra income while you work on projects of your interest. Moreover, you can decide your working hours according to your schedule, and lead a balanced life. It even gives them the flexibility of location.
As the demand for a skilled workforce increases, companies are looking at freelancers to work on a project basis system with them. This enables them to get the best minds in the industry, who understand their niche. The coming years look good for freelancers in terms of money, although it’s important to set a standard when it comes to deciding your rates. Make sure you sign a legal contract with your employer to ensure a smooth collaboration, and you’ll be set.