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Unless you’re ridiculously well paid I think you’re considerably underestimating what many independent contractors end up earning. I can only speak about my an

by devjab 3y ago

Unless you’re ridiculously well paid I think you’re considerably underestimating what many independent contractors end up earning. I can only speak about my anecdotal network but everyone that I know who went the independent contractor road is making around a million or more a year. They didn’t start out like that, and I’m not sure how easy the road would be in the current economy, but the people who started out 10-15 years ago have it made for them. They did work a lot more than us who went into the corporate mill, but they are frankly going to “win” anyway considering some of them are basically set for retirement at age 40-45.

doctorhandshake 3y ago
What industry is this where all of the ICs you know are making a million or more?
- satvikpendem 3y ago
  Likely niche consulting and implementation on unique or domain-specialized knowledge. While I've made a few hundred k off React and Node work, the people I know who make the big bucks are experts in a particular field.
- sidlls 3y ago
  This is similar to the FAANG salary phenomenon: for every individual contractor pulling $1MM in annual revenue, there are thousands who might barely be making minimum wage when expenses are factored in. Very few independent contractors end up earning enough to equal full-time employment doing similar work.
- devjab 3y ago
  They started consulting and eventually build products that they sell to the organizations they consulted for. One did consulting for public sector authorization management and eventually build a ReBAC API to put on top of the myrirad of API's that the public sector in Denmark operates, so that IDM became much, much easier. Another started as a RPA (robot process automation) trainer who worked together with the business side of the whole concept and was their go-to for technical training whenever they sold a "package" to organizations. Now owns a 50+ person company that is full of consultants that did what he once did. I guess the latter isn't really an IC anymore, but I know he didn't plan for things to happen this way. It started with him just being an IC and then eventually when he had too much work he had one of his friends join him, and so on.
qweqwethrowww 3y ago
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by devjab 3y ago

doctorhandshake 3y ago

What industry is this where all of the ICs you know are making a million or more?

satvikpendem 3y ago
Likely niche consulting and implementation on unique or domain-specialized knowledge. While I've made a few hundred k off React and Node work, the people I know who make the big bucks are experts in a particular field.
sidlls 3y ago
This is similar to the FAANG salary phenomenon: for every individual contractor pulling $1MM in annual revenue, there are thousands who might barely be making minimum wage when expenses are factored in. Very few independent contractors end up earning enough to equal full-time employment doing similar work.
devjab 3y ago
They started consulting and eventually build products that they sell to the organizations they consulted for. One did consulting for public sector authorization management and eventually build a ReBAC API to put on top of the myrirad of API's that the public sector in Denmark operates, so that IDM became much, much easier. Another started as a RPA (robot process automation) trainer who worked together with the business side of the whole concept and was their go-to for technical training whenever they sold a "package" to organizations. Now owns a 50+ person company that is full of consultants that did what he once did. I guess the latter isn't really an IC anymore, but I know he didn't plan for things to happen this way. It started with him just being an IC and then eventually when he had too much work he had one of his friends join him, and so on.

qweqwethrowww 3y ago

[dead]