Is freelancing just a hot trend or a great way to build a profitable career? What’s the future of freelancing going to be like? Will there be freelancers by 2027? Let’s find out.
One of the biggest questions beginning freelancers have is whether or not freelancing is a good choice for a long-term career. Well, I can go and on about how profitable freelancing is, how everyone will be working from home in the future, or why it’s better than working at Apple.
Instead, I decided to gather some evidence and prove to you that freelancing is a more stable way to work than most other jobs. Here’s proof.
The Current State Of Freelancing
Automattic, Buffer, Edgar, Groove, Ghost, InVision, Hubstaff, Toggl, Doist, Zapier, Toptal, Trello, Basecamp, are among the companies that equip 100% remote teams. (Zapier Blog)
36% of the US workers (57.3 million) are freelancers who work from home. They collectively contribute $1.4 trillion to the economy every year. It’s a 30% increase since 2016. (UpWork/Freelancers Union)
63% of freelancers in the US choose a work-from-home career over traditional jobs. (UpWork/Freelancers Union)
More freelancers believe their career is more stable than a day job by having a diversified portfolio of clients than a job with one employer. (UpWork/Freelancers Union)
61% of freelancers specialize in 2 to 3 talents. (Slash Workers)
77% of freelancers state that they are not more financially stable since ditching their day jobs to go freelance. But 68% say their life has improved since they started freelancing and much happier than before. (Slash Workers)
48% of the female freelancers make less than $25,000 a year while men are 4.5X more likely to earn over $150,000 than women. (Slash Workers)
In 2016, Freelancer.com received a total of 10.6 million job postings from clients with a total of $3 billion in paid transactions. (Freelancer.com Annual Report PDF)
Future Of Freelancing
43% of the U.S. workforce will be freelancers by 2020. (Nasdaq)
Majority of the US workforce will be freelancers by 2027. (UpWork/Freelancers Union)
41% of freelancers plan on freelancing forever as 45% of the freelancers feel more secure about their independent employment. (Slash Workers)
One study shows that working from home improves work performance by 13% and the company also saw a $2,000 increase in annual profit after letting employees work from home. (Stanford Graduate School of Business)
In 2014, Americans spend 1.8 trillion minutes (29.6 billion hours) commuting to work. Remote work can cut commuting times to zero. (Nasdaq)
According to a PGI study, 82% of remote workers reported lower stress levels while 80% of workers reported higher morale. (PGI – Slideshare)
Highest Paid Freelance Jobs
Freelance coders and software developers earn up to $1,000 per hour. (Freelancing Hacks)
Freelance copywriters earn over $250 per hour. (Freelancing Hacks)
Junior software developers earn a base salary of around $119,000 while senior software developers earn around $150,000. (Triplebyte)
Freelance graphic designers earns more than $85 per hour on major freelance sites such as UpWork and PeoplePerHour. (Freelancing Hacks)
Artificial intelligence, Instagram marketing, Machine learning, and Brand strategy were listed as the most demanded skills in 2017. (UpWork)
Robotics, Blockchain, Bitcoin, Instagram marketing, Augmented reality, jQuery development, and HubSpot marketing were among the top 20 fastest growing skills in Q3 2017. (UpWork)
AI and robotics will create more freelance jobs in the future, says Stephane Kasriel, CEO of Upwork. Only issue will be the lack of skills. So, start learning future-proof skills and prepare for many more years of freelancing.