Self-Employment vs. the 9-to-5, or Matt and Everett Said it All
Posted in choices, entrepreneurship, work on 06/02/2010 12:16 pm by NicoleTo be self-employed or to be an employee, that is the question. It’s a subject that I wrestle with frequently, because I understand the pros and cons of each, and have been on both sides multiple times over the last 5 years. If you look at my resume, you’ll see that I usually have an office job from October through May, and then am freelancing, doing massage, or maybe working part-time in a gourmet kitchen store over the summer. It hasn’t been intentional; several of those lapses were due to layoffs. But it is interesting. The one year that I had a job during the month of May, it took me weeks to figure out why I was so antsy. Then I realized “oh, this is the time of year where I’m usually sitting by the lake with books like “Making a Living Without a Job””
To be honest, my heart lies in the self-employment camp. Unfortunately, my need to pay for things like my car and my health insurance (funny thing happens when you don’t regularly hold an office job: you don’t get benefits. More on that later…) frequently land me back in an office job.
I could write out a list of all the reasons I prefer self-employment, but Everett Bogue did a pretty darn good job of that earlier this week in his post: “27 Reasons You Should Never Have a Job.” I LOVED IT.
The only thing I would add is this: when I tell people I’m self-employed, they’ll often say “oh I could never do that. I need more security. Isn’t it scary not knowing how much you’re going to make every month?” Um, sometimes. Yeah, there are dry months. But you know what scares me more? Knowing I’m only going to make X amount every month. When you’re self-employed, there is endless potential for growth. I don’t have to wait for incremental raises; my salary could double (or more) in a year because one of my income streams takes off. If there’s a trip I really want to go on or something I really want to buy, I just push for a few more clients. Voila, extra money.
Yes, being self-employed is volatile. You need to save more for the down times and it’s important to have supportive friends, family, and/or significant others. But for me, ultimately, the freedom, flexibility, creativity, and potential are overwhelmingly worth it.
That is not to say, however, that I think everyone should be self-employed. It’s not for the risk-averse, or those who need stability. As Matt Cheuvront said today, Don’t Discount the Value of a 9-to-5.
I will admit that, being self-employed, I’ve spent months being broke while trying to build one income stream or another. It’s stressful. It can be lonely. The thing I miss most about having an office job is the social aspect – having co-workers to grab lunch or hit happy hour with. Not to mention brainstorming. And yeah, the stability is nice.
There are reasons for both ways of working. What I think is most important, though, is the mindset you take to your work. You can’t go into business for yourself thinking like an employee, and yet the most successful employees are the ones who go to work thinking like an entrepreneur. More on that tomorrow.

