Freelancing: what you need to know before you start
A lot has changed post-pandemic, including the way people feel about their jobs and professional careers. Due to this new era of modernity and remote working, more people are considering less traditional work models. One form of self-employment with adjustable flexibility is freelancing. In this article, we’ll talk about the job of a freelancer and what’s necessary for you to succeed and gather more experience.
What is a freelancer?
The definition of a freelancer is someone who works autonomously, doing one-off jobs or temporary projects for companies and clients who need their services. It is very common to find freelancers working in the technology market and in areas involving communication. By being a freelancer you can have formal long-term contracts or only work with your client for a specific service, depending on what they need.
Freelancers do a lot of different work and can be found in a wide range of sectors, but here's an example. Imagine you need one of your research papers to be translated to present at an international conference, but you don't have the knowledge of the language your paper needs to be translated into. You can hire a skilled freelancer to help you with this. The professional will translate your article and charge a fee for the work done.
The same scenario applies to other business and service areas.You may need a new logo for your business or an app that suits your needs. A freelancer can do this service without being hired by you as a full-time employee in your company. Freelancers search for more flexibility as they organize their work routine and the amount of jobs they can take up at a time. Also, after gaining experience in the market and increasing your portfolio of successful jobs, freelancers are better positioned to charge even more for their services and make more money out of their hard work and expert knowledge.
How much does a freelancer earn?
Being a freelancer can give you the opportunity to make more money from your work, because you can have autonomy on deciding the price for your services. Salaries for freelancers often vary widely, depending on the work done during the month. The more clients a freelancer has, the more they are able to cash in. Many professionals work abroad, earning in foreign currencies and thus, make more money. That's why using the right payment method is so important to avoid spending on money transfer fees, rates and commissions. Subscribe to Higlobe to understand how we can be the best payment solution for you!
A freelancer may be contracted by a company to work on a longer project for them. The company makes a contract and establishes how much will be paid for the working hours of the months during the project. In this case, the freelancer will have a fixed salary, but will not be able to have the benefits of a formal employee, such as health insurance. After the project is finished, the company can decide if a new project is necessary and offer a new contract period.
An important tip if you want to gain experience in international work is to apply for freelance projects. This type of opportunity will put you in touch with overseas companies but without the pressure of going through the many steps of a formal job interview. Also, you will be able to compare your language and technical skills with the job description and evaluate if you are the right fit for the job at hand. If you want to know more about the opportunities of working for foreign companies, check the following article.
How can I pay for my taxes as a freelancer?
Having a more flexible working routine is great, but other responsibilities come with it. Many people who recently start working as freelancers don't take the time to learn about the taxes that should be paid, as many of them are used to having company positions where taxes were automatically deducted from their salaries. But by being self-employed, paying for taxes is also part of your work obligations. The best thing you can do is to research everything about taxes in your home country so you get a clear understanding of what you need to pay and the expenses you can deduct.
A clear understanding of your tax obligations should be reflected by how much you charge for your services. So, before you start your career as a freelancer, take the time to understand taxes and include this when negotiating your fees with a new employer.
In what areas is it possible to work as a freelancer?
If you’re interested in becoming a freelancer or just want to stay ahead of the pack skills-wise, here’s a short list of some of the most in-demand freelancing skills today. It’s never to late to learn a new skill or improve one that you already have. Freelancing opens the doors to many opportunities in multiple career fields. However, this section is dedicated to some of the most in-demand, skilled professionals in the market. Having that in mind, you can focus on some skills areas that are currently in high demand globally. It's common to find freelancers in communication and technology, but the options don’t end there. These are just a few more areas where freelancers are thriving today:
- Developers: usually work in website development, application design and platforms developing for companies.
- Designers: these professionals are sought after to assist in the production of websites, interfaces for applications, logos and development of visual identity for companies.
- Marketing experts: professionals that create campaigns to expand the range of products for companies. They do creative work, email marketing, paid advertising and campaigns.
- Translators: professionals with expertise in different languages that can translate academic productions, website pages and articles.
The list goes on, but there’s always an opportunity to learn and master something new. The required skills for remote work and freelancing are always growing!
What are the benefits of working as a freelancer?
When working as a freelancer you have more control over your working hours as well as your schedules. You get more flexibility to organize your daily activities such as sports, doctor appointments, etc. Another great advantage that is sought by those who choose to work as freelancers is the organization of their routine without having to stress over traditional company limitations..
When starting a job as a freelancer, many professionals increase their income by closing projects directly with companies and pricing their work fairly based on their skill and experience.
If you’re a freelancer, or intend to start working as one, you can count on us to receive your international payments at the lowest cost. Higlobe was created by people like you, who have been faced with high fees to receive their payments from overseas companies and clients. We understand what your concerns are, so we came up with the best payment solution for you! Sign up for Higlobe today!