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How does freelancing income compare to working as a senior engineer at a big corp ($300k total comp if you include bonuses, benefits and subsidized health insur

How does freelancing income compare to working as a senior engineer at a big corp ($300k total comp if you include bonuses, benefits and subsidized health insurance)?

deleted 10y ago
[deleted]
StephenConnell 10y ago
Your personal time is worth more than any number of $$$. You can't buy back your time after you've traded it for cash. Make sure you enjoy life while you have it. Edit: My point is that freelance work income may not compare, but the income may not be the reason for moving to freelance. The op did not explain why he moved to freelance, but I can think of some great reasons to do so.
- CydeWeys 10y ago
  As a senior engineer at a big corp, I feel like I have lot more free time available to me than if I were a freelancer. I don't have to worry about business details, contracts, hell, really even deadlines. In order to contract out for a comparable amount of money I think I'd have to spend a lot more time and deal with a lot more stress. Plus, you don't get paid vacation as a freelancer, whereas I get as much paid vacation as I'm apt to use.
  - saiya-jin 10y ago
    vacations, one of the worst parts of freelancing - it's not the price of it (usually flight tickets + some cash on the spot, all manageable), but the income lost while having fun that hurts bad. combine it with some mortgage, and self-pressure to just work leaves you missing some nice experiences in life (while having some extra cash too)
    - CydeWeys 10y ago
      Yeah, I'll be honest, I'm not the best at taking vacations. I've never used all my vacation time at any of my jobs, and have always gotten paid out handsomely for the excess upon leaving. Of course, once I actually do get out on a vacation, I inevitably enjoy it, but there's so much inertia in planning one that I do it infrequently. It really is a big hassle. If I didn't have paid vacation days, I doubt that I'd ever take one. They'd simply be way too expensive. It's one thing to use paid vacation days, another thing entirely to give up over a week's worth of income. I don't think I could do it.
- cookiecaper 10y ago
  This is great advice, but not really practical with conventional American lifestyles. It's possible once you save enough and get the basics completely paid off, so that you can minimize your expenses to < 1k per month, but it's usually not an option for your average worker. I believe making it an option is a crucial social issue for our time.
vonmoltke 10y ago
That's senior engineer at an elite big corp in one of two or three locations in the US. It's a pretty rare (relatively speaking) position to be in.
- cjrp 10y ago
  Locations with high costs of living too.
morgante 10y ago
In my experience they're pretty close, assuming you're excelling in both. Top independent freelance software developers can make $300k if they work hard and have a good network, as can top big corp engineers. Of course, neither is easy to achieve and the metrics are different. (Freelancers are valued on their results, big corps hire on pedigree and games.)
sbrother 10y ago
I have done both. It's all highly dependent on your situation, but for me freelancing is higher income (~400k vs ~250k at bigcorp), much more autonomy (I can work wherever I like, subcontract out the tedious things, etc), but also much more stress. I worked considerably less at bigcorp but in the end I couldn't get over the whole having to come into the office and look busy thing. I personally value the autonomy over almost anything else -- I can live in a low cost-of-living city with my wife for half the year, go skiing/mountain biking over lunch, and overall spend more time among the people I care about. But that does come with all the stress of building a client base, chasing down payment, explaining to non-technical people why their ideas aren't feasible and I can't build Siri in 3 weeks, etc.
- phibz 10y ago
  I've been doing contract work for the last 6 years. In the markets I'm in Dallas and Chicago for my skill set (18 years) i'm finding it easy to find jobs at $125/hr but not much more than that. Even at that number I get lots of "thanks but no thanks." My most recent project, Apache Kafka and Spark, is only $115/hr. Which is close to $250k/yr but not any where near $400k/yr. I'm wondering where you're finding clients willing to pay this much and what type of work are you doing?
  - nthj 10y ago
    patio11 has a lot of articles and comments about charging by the week. From your comment, that sounds like how you'd make the leap; you get a lot more autonomy as well.

How does freelancing income compare to working as a senior engineer at a big corp ($300k total comp if you include bonuses, benefits and subsidized health insurance)?

deleted 10y ago

[deleted]

StephenConnell 10y ago

Your personal time is worth more than any number of $$$. You can't buy back your time after you've traded it for cash. Make sure you enjoy life while you have it. Edit: My point is that freelance work income may not compare, but the income may not be the reason for moving to freelance. The op did not explain why he moved to freelance, but I can think of some great reasons to do so.

CydeWeys 10y ago
As a senior engineer at a big corp, I feel like I have lot more free time available to me than if I were a freelancer. I don't have to worry about business details, contracts, hell, really even deadlines. In order to contract out for a comparable amount of money I think I'd have to spend a lot more time and deal with a lot more stress. Plus, you don't get paid vacation as a freelancer, whereas I get as much paid vacation as I'm apt to use.
- saiya-jin 10y ago
  vacations, one of the worst parts of freelancing - it's not the price of it (usually flight tickets + some cash on the spot, all manageable), but the income lost while having fun that hurts bad. combine it with some mortgage, and self-pressure to just work leaves you missing some nice experiences in life (while having some extra cash too)
  - CydeWeys 10y ago
    Yeah, I'll be honest, I'm not the best at taking vacations. I've never used all my vacation time at any of my jobs, and have always gotten paid out handsomely for the excess upon leaving. Of course, once I actually do get out on a vacation, I inevitably enjoy it, but there's so much inertia in planning one that I do it infrequently. It really is a big hassle. If I didn't have paid vacation days, I doubt that I'd ever take one. They'd simply be way too expensive. It's one thing to use paid vacation days, another thing entirely to give up over a week's worth of income. I don't think I could do it.
cookiecaper 10y ago
This is great advice, but not really practical with conventional American lifestyles. It's possible once you save enough and get the basics completely paid off, so that you can minimize your expenses to < 1k per month, but it's usually not an option for your average worker. I believe making it an option is a crucial social issue for our time.

vonmoltke 10y ago

That's senior engineer at an elite big corp in one of two or three locations in the US. It's a pretty rare (relatively speaking) position to be in.

cjrp 10y ago
Locations with high costs of living too.

morgante 10y ago

In my experience they're pretty close, assuming you're excelling in both. Top independent freelance software developers can make $300k if they work hard and have a good network, as can top big corp engineers. Of course, neither is easy to achieve and the metrics are different. (Freelancers are valued on their results, big corps hire on pedigree and games.)

sbrother 10y ago

I have done both. It's all highly dependent on your situation, but for me freelancing is higher income (~400k vs ~250k at bigcorp), much more autonomy (I can work wherever I like, subcontract out the tedious things, etc), but also much more stress. I worked considerably less at bigcorp but in the end I couldn't get over the whole having to come into the office and look busy thing. I personally value the autonomy over almost anything else -- I can live in a low cost-of-living city with my wife for half the year, go skiing/mountain biking over lunch, and overall spend more time among the people I care about. But that does come with all the stress of building a client base, chasing down payment, explaining to non-technical people why their ideas aren't feasible and I can't build Siri in 3 weeks, etc.

phibz 10y ago
I've been doing contract work for the last 6 years. In the markets I'm in Dallas and Chicago for my skill set (18 years) i'm finding it easy to find jobs at $125/hr but not much more than that. Even at that number I get lots of "thanks but no thanks." My most recent project, Apache Kafka and Spark, is only $115/hr. Which is close to $250k/yr but not any where near $400k/yr. I'm wondering where you're finding clients willing to pay this much and what type of work are you doing?
- nthj 10y ago
  patio11 has a lot of articles and comments about charging by the week. From your comment, that sounds like how you'd make the leap; you get a lot more autonomy as well.