Working a corporate job can be highly rewarding and exhausting at the same time. Although corporate jobs allow employees to move up in their career, it also comes with many demands. Many corporate employees don’t have the freedom to live as freely as they’d like due to working hours, financial capability, and other factors.
Many corporate workers become burnt out and feel overwhelmed by their workplaces. As a result, it’s not surprising that many workers would want to resign from their corporate work life and start freelancing full-time.
This phenomenon is expected today, especially after the Covid pandemic in 2020. Remote working is made possible thanks to the necessity of staying home to prevent the virus from spreading. Along with the boom of remote working, the pandemic also encouraged many individuals to take freelance work and quit their full-time jobs to live fulfilling lives.
If you’re one of those individuals who want to resign from their corporate job and become freelance workers, this article is for you. Quitting from your corporate job can be stressful, and you need to think a lot before making any decisions. We’ll list five things you must consider before resigning and transitioning to a full-time freelance job.
- Come to terms with your potential financial condition
The first thing you need to consider is your potential financial condition. Working a corporate job provides you with stability and monthly income. When you quit, a monthly payment may be out of the question.
Freelancers often have scattered income throughout their careers. Although, some find success and have regular clients that help them with recurring revenue. Before you resign, have a contingency plan in place. You may need to save up and set aside some cash for emergencies. You should never quit on a whim and plan your exit strategy carefully.
- Working hours might be different.
The second thing you need to think about is your potential working hours. Freelancing may give you the idea that you’ll have better working hours and work-life balance. On the contrary, you may be working more than you expect. Technically, you’ll be running your own business, and if you don’t have a sustainable income, you may need to work overtime to incur more funds.
However, once you have more clients, you can adjust your working hours accordingly. Not to mention, you’ll be able to work remotely and wherever you want— giving you a lot of flexibility. You might be able to work fewer hours, but it all depends on how many clients you get and how much you charge per hour.
- You may have to give up benefits.
Working in a corporate office comes with perks. One of the most prominent advantages of it is getting employee benefits. You’ll be forced to give up employee benefits when you no longer work a corporate job.
If your workplace provides insurance, files your taxes for you, or other things, quitting means you won’t have access to these benefits anymore. So, that’s something you should consider before you hand in your resignation letter.
- You’re in charge of getting your clients.
You might have had clients handed to you on a silver platter in a corporate setting. When you freelance, it’s not going to be as easy as receiving a command from your higher-ups to pamper the new client.
You must market yourself and utilize your brand to rake in clients. This may be a challenge if you’re not used to marketing yourself. So, you have to think about this before you resign from your corporate job.
- Advancement is in your hands
Lastly, it will be all in your hands if you want to move up the ladder in your career. In an office, your manager is in charge of whether or not you can advance. When you’re on your own, an advancement might not even be available.
So, freelancing might be a challenging landscape to maneuver if you’re looking to build your career professionally from the ground up.
A freelancer’s working life offers more freedom and flexibility than a conventional corporate working environment. Before you hand in that resignation letter, ensure you know everything you need to think about. Quitting your job shouldn’t be something brash. You should do it with a lot of thought and planning. We hope this article will help you make the right decision for your future!
Ebnu Sudarso is the Co-founder of Milkwhale, an internationally acknowledged infographic production agency. Graphic design and writing have always been a passion. Over the years at Milkwhale, the company has created and published numerous infographics and great visuals.