Question
List one pro and one con of being a freelancer or independent contractor in the gig economy? Edit View Insert Format Tools Table 12pt v Paragraph
Answer
3.5
(244 Votes)
Luna
Master · Tutor for 5 years
Answer
Pro - Flexibility and choice of job location and timing. Con - Lack of job security and stable income streams.
Explanation
Being an independent contractor or a freelancer in the gig economy also has both advantages and disadvantages. The benefits potentially include the liberty and autonomy to choose projects of one's own interest while also having the flexibility in choosing when and how to work. The convenience of working from a chosen location also adds up to the pros as the freelancer is not bound by the geographical constraints like a traditional job. However, the cons could then include the instability of paychecks depending on the frequency and quantity of gigs as well as the insecurity of job as the availability of the next project is always an uncertainty. Additionally, freelancers typically lack certain employment benefits such as health insurance, defined tenure, and job security.