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Rise of the Slash Worker: Data and Insights from Freelancers

Rise of the Slash Worker: Data and Insights from Freelancers

FromClients From Hell Podcast


Rise of the Slash Worker: Data and Insights from Freelancers

FromClients From Hell Podcast

ratings:
Length:
29 minutes
Released:
Jun 2, 2017
Format:
Podcast episode

Description

Bryce reflects on data from the gig economy, sharing insights into how freelancers are succeeding (and what issues they're struggling to overcome).  Here are the links he talks about during this episode: https://www.and.co/slash-workers (this survey is visually stunning – check it out!) https://www.hellobonsai.com/rates https://blog.freelancersunion.org/2015/10/01/freelancing-america-2015/ https://www.upwork.com/i/freelancing-in-america/2016/ -- We want to hear from you! Give us your feedback on how we can improve the Clients From Hell podcast by using this link: https://cfh.typeform.com/to/gEABz7 Want to support the show? Leave us a review on Apple Podcasts or recommend us to a friend. It helps immensely. -- Shownotes Survey makeup: As vast majority of freelancers AND CO interviewed—95% of them—are what are being call "Slash Workers," or independent workers whose services or skills vary by client and project. About 70% of respondents were from the States Respondent makeup: Creative/design: 33% Consulting - Professional Services: 21% Writing/Journalism/Content: 17% Tech/Web Design: 15% Other 14% Median income for respondents who reported is in the $25,000 to $49,999 range, which aligns with the average income for single taxpayers in the U.S. per the IRS (2014): $34,940. General takeaways: Freelancing is a growing choice Freelancers enjoy higher quality of life at the expense of financial security This quality of life manifests in the form of freedom, be it personal autonomy or flexibility The traditional concept of the office is on the way out. Working from home is a substitute, but more and more people are interested in a “digital nomad” lifestyle – or the ability to work from anywhere. Interesting insights: 40% of U.S. workers will be freelance by 2020 (Freelancers Union) Two-thirds of freelancers have 0-3 years of freelancing experience. Going independent is a conscious choice for 94% of freelancers (it’s not a fallback) 41% want to freelance “forever” 95% of freelancers offer two or more services Only 5% offer a single skill or work function Most freelancers chose freelancing for personal growth (only 7% did it for the financial upside) A quarter of freelancers self-describe as nomads (and they’re 11% happier than other freelancers) 60% of freelancers said they’d be interested in pursuing a nomadic lifestyle in the future. Nearly half of freelancers want companies to offer more remote work opportunities About 3/4 of freelancers feel less financially stable since going freelance But 68% say their general quality of life has increased Only 6% of respondents are freelancing until they find their next full-time gig. Money and jobs: 91% of respondents said they typically get work from word of mouth and referrals Just under half said organic website or portfolio traffic 37% find work through outreach or pitching One-third find work via freelance-specific job boards 23% find work via general job boards 43% earn less than $25K a year 1/6th earn between that and 50k 1/6th earn between 50k and 75k 7% earn between 75k and 100k 10% earn 100k or more Interestingly, there’s a correlation between the experience levels of respondents and their income bracket. Do keep in mind that correlation does not equal causation though Bonsai found that for all skills and locations, the most significant jump in compensation per experience level comes between the 1-3 and 3-5 year categories. This can be most often attributed to them developing essential business skills (project management, negotiation...), developing their knowledge about their market and their clients, building a strong portfolio and leveraging their network. Developers earn about 30% more than designers across experience levels and geographies. This happens to be true even for highest charging designers (ie Product Designers) when compared to lowest charging developers (Front-end / Android) Design rates (in particular graphic design) hardly reach $60 p
Released:
Jun 2, 2017
Format:
Podcast episode

Titles in the series (100)

The Clients From Hell podcast is equal parts humorous and helpful as it explores the modern life and times of creative professionals.