Freelance work isn’t new but it has evolved and grown over the past several years. Pair that with the revolution of remote work and it’s never been a better time to consider freelancing to make extra money or even as your main source of income.
When it comes to legal freelancing, there are a few things to consider as you make your decision.
Pro: Flexibility
That’s the name of the game these days. The pandemic realigned many people with their goal to spend less time at work and more time with their families and loved ones. Not having to sit at a desk or be required to keep consistent office hours and instead, working at your own pace around your priorities is a major draw for legal freelancing. You can also take on short-term contracts of a month or less, or long-term contracts of six months or more, as your schedule allows.
Con: Inconsistent income and lack of benefits
When you are a full-time employee, you can expect a consistent paycheck regardless of your workload. When you go into full-time freelancing, you get paid according to the work you bring in. Some freelancers end up working more hours than full-time employees, with no employer-paid health insurance, paid time off, or other benefits.
Pro: Earning potential
One advantage to freelancing is the ability to set your own rates based on your skills, experience, and specific legal expertise. While some freelancers work more hours for similar pay as their employee counterparts, those who specialize in a niche area or have a wealth of experience can command top-dollar rates.
Con: Lack of team
For those who may identify as extroverts, the idea of working from a home office or remotely, away from colleagues, is undesirable. There’s no access to a firm’s amenities, notably paralegals and administrative assistants, who often help with the scheduling and tedious paperwork and research. However, if you can spare the budget, you could hire fellow freelancers who specialize in this area.
Pro: Variety
While it may be difficult to find clients when you’re starting out, eventually, you can be more selective about who you work with. If you don’t have a particular specialty, you can take on new, unique cases and gain experience in new areas of law where you may not have been afforded that opportunity at a firm.
Freelancing isn’t for everyone, but it may be a great option for individuals such as working mothers, parents who want flexibility for their families, or those who want a change of pace from the corporate world.