According to Nerdwallet who cited info from the Census Bureau, Austin, Tx is 4th in the Nation for freelance workers, and in 2013 12.3 million households (11% of all households) earned an average of $34,095 of self-employment income. Also, Intuit, Inc reports that freelance / contract workers will make up over 40% of the workforce by 2020.
So what are the pros and cons of being a freelance worker (aka independent contractor)?
- Pros – more flexibility in choosing the time, place, and project that you want to work on
- Cons – Income level more volatile, healthcare costs higher, less job security