Within 5 months of each other, my sister and I both found ourselves out of our steady paychecks. We both chose to take the same path: self-employment. The interesting thing is that we both have realized different things from making that change. My sister has realized that the steady, safe paycheck was far more valuable for her and outweighs the constant stress and work of being your own boss. She is currently searching for a job so she can go back to being an employee.
On the other end of spectrum, while I sometimes miss and definitely have come to appreciate the steady fat paycheck I use to get each month, I have realized that the freedom and control that comes with being self-employed outweighs all the money in the world for me.
Our different experiences got me thinking about how many people struggle to make the jump to self-employment, or wrestle with giving up their companies to go back to the stead paycheck. We’re all different, and we all have different needs and desires, so it stands to reason that one is not better than the other 100% of the time.
Since I’ve been on both sides of the spectrum, here’s my list of pros and cons for both being an employee and being your own boss. Maybe it will help others out there to find the right career path and make the change.
I can’t really speak for my sister about why she hates running her own company, but I can elaborate on why I’m so happy being self-employed- albeit temporarily fiscally challenged.
- I didn’t like my hours dictated to me. We had a flexible schedule, but it still meant sometime between 6 am and 6 pm. I have kids and family stuff, and it was impossible for me to get off for things that were important to me.
- I didn’t like the politics.
- I felt like I was treading water. I was using my science degree, but there was no real advancement there, and the one option I had was a direction I absolutely didn’t want to go. The company was a sort of “dead end”. In fact, it has since gone completely out of business.
- I yearned for the day that I could control my income. I love getting up in the morning knowing that I am 100% responsible for how much money I make, and the sky is literally the limit.
We all have to make important decisions about our work and our income. The choices we make in this area directly impact all other areas of our lives. It’s not a decision to make on a whim, and it’s one that you should make you feel good when you get up in the morning.











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