More people than ever say they’re interested in pursuing full-time freelance work, preferring to stay at home rather than go into an office each day. Millennials are particularly intrigued about the possibility, with nearly 75 percent saying they are curious about freelancing. That makes it even more important for potential freelancers to make sure they completely understand their rights when it comes to compensation.
It appears that the majority of American workers are thinking of ditching their cubicles. According to this report, 57 percent say they are interested in pursuing a freelance career. That is up from 51 percent in 2017.
Millennials are driving this trend. Not only are three-quarters of Millennial workers interested in freelancing full time, 40 percent intend to become freelancers within five years, according to the report. In comparison, 23 percent of GenX workers – and only 13 percent of Baby Boomers – intend to do so.
No matter what your age may be, if you are considering a freelance career you simply have to know your rights when it comes to getting fair pay. Even though you might consider yourself a freelancer or independent contractor, you might actually be an employee in the eyes of the law. This could make a huge difference when it comes to the amount of money you make.
In general, freelancers are not entitled to benefits enjoyed by workers who are considered employees of a company. For example, freelancers typically do not receive overtime pay, paid vacations, sick pay, etc. But if you meet certain conditions, there is a chance the company you work for could owe you these types of compensation.
Here are just a few of those conditions:
- Your employer prohibits you from taking any other type of work, or dictates your work hours.
- You perform work that is considered essential to the operations of the company – such as manufacturing a product the company sells.
- You work exclusively for one business.
- Your employer controls the manner in which your work is performed.
Some companies will try and label workers independent contractors instead of employees in order to save some money. However, if you are indeed an employee in the eyes of the law, you might be entitled to overtime pay, sick pay, vacation pay, paid holidays and more.